The Bush tax cuts did the opposite: $3 trillion worth of tax cuts were predicated on the premise that we were returning the people "their" money. As it turned out, the money wasn't there to return. Even without the tax cuts, the wars, or anything else, the government would have entered 2011 with $1.3 trillion in debt, not $2.3 trillion in savings. Basically, in the grip of careless enthusiasm about the economic future, we borrowed $3 trillion from bond markets and handed it out to citizens in rough proportion to how rich they already were. In the middle of a recovery. This is not a useful thing for the government to do.
Deficits: There never was a surplus | The Economist
Sunday, July 31, 2011
Saturday, July 30, 2011
Friday, July 29, 2011
Tuesday, July 26, 2011
How to Turn Republicans and Democrats Into Americans - Magazine - The Atlantic
An insider’s six-step plan to fix Congress
How to Turn Republicans and Democrats Into Americans - Magazine - The Atlantic
How to Turn Republicans and Democrats Into Americans - Magazine - The Atlantic
Friday, July 22, 2011
Does Washington have a spending problem or an income problem?-FactCheck.org
Does Washington have a spending problem or an income problem? FactCheck.org: http://bit.ly/p3H1cZ
Fiscal FactCheck | FactCheck.org
Fiscal FactCheck | FactCheck.org
Tuesday, July 19, 2011
Sunday, July 17, 2011
Saturday, July 16, 2011
Worst Is Yet to Come for News Corp.
The emotional supercharge of 9/11 in the US is many times greater than Milly Dowler in the UK - and look what happened here.
Commentators have compared the crisis to Watergate; Carl Bernstein, the former Washington Post reporter whose revelations helped depose a US president, says it is evident to him the events of the past week "are the beginning, not the end, of the seismic event".
To coin a famous Murdoch newspaper headline: will the last person to leave News Corporation turn off the lights?
Worst Is Yet to Come for News Corp.
Commentators have compared the crisis to Watergate; Carl Bernstein, the former Washington Post reporter whose revelations helped depose a US president, says it is evident to him the events of the past week "are the beginning, not the end, of the seismic event".
To coin a famous Murdoch newspaper headline: will the last person to leave News Corporation turn off the lights?
Worst Is Yet to Come for News Corp.
Friday, July 15, 2011
IT'S OFFICIAL: The Whole World Thinks Republicans Are Dangerous Maniacs Threatening Everyone
Yes, the rest of the world is watching this embarrassing debt ceiling nonsense, and it is growing dismayed.
Der Spiegel has a roundup of commentary in German newspapers about the fight, and the universal message is this:
The US is holding the entire world hostage, and it's the Republicans that are playing with fire.
Read more: http://www.businessinsider.com/its-official-the-whole-world-thinks-republicans-are-dangerous-maniacs-2011-7#ixzz1SCJ8FzLA
IT'S OFFICIAL: The Whole World Thinks Republicans Are Dangerous Maniacs Threatening Everyone
Der Spiegel has a roundup of commentary in German newspapers about the fight, and the universal message is this:
The US is holding the entire world hostage, and it's the Republicans that are playing with fire.
Read more: http://www.businessinsider.com/its-official-the-whole-world-thinks-republicans-are-dangerous-maniacs-2011-7#ixzz1SCJ8FzLA
IT'S OFFICIAL: The Whole World Thinks Republicans Are Dangerous Maniacs Threatening Everyone
The Sun Sets on a Media Empire
But Murdoch’s political power can never return. He used Macchiavelli’s maxim, that it is better to be feared than loved, to dominate British politics. Even those who got closest, including Blair, privately bemoaned the Faustian pact. Almost nobody now regrets his fall. But, as the British political class now emerges blinking into the sunlight, many remain astonished that this most dreaded of media moguls should suddenly be friendless in Westminster.
The Sun Sets on a Media Empire
The Sun Sets on a Media Empire
Thursday, July 7, 2011
The Mother of All No-Brainers - NYTimes.com
But we can have no confidence that the Republicans will seize this opportunity. That’s because the Republican Party may no longer be a normal party. Over the past few years, it has been infected by a faction that is more of a psychological protest than a practical, governing alternative.
The members of this movement do not accept the logic of compromise, no matter how sweet the terms. If you ask them to raise taxes by an inch in order to cut government by a foot, they will say no. If you ask them to raise taxes by an inch to cut government by a yard, they will still say no.
The Mother of All No-Brainers - NYTimes.com
The members of this movement do not accept the logic of compromise, no matter how sweet the terms. If you ask them to raise taxes by an inch in order to cut government by a foot, they will say no. If you ask them to raise taxes by an inch to cut government by a yard, they will still say no.
The Mother of All No-Brainers - NYTimes.com
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