Relevant and even prescient commentary on news, politics and the economy.

CHUCK BLAHOUS FINDS THE ANSWER FOR SOCIAL SECURITY AND LOSES IT.

by Dale Coberly CHUCK BLAHOUS FINDS THE ANSWER FOR SOCIAL SECURITY AND LOSES IT. Charles Blahous is one of the politically appointed Trustees for Social Security. He has written “A Guide To The 2013 Social Security Trustees Report” at e21 Economic Policies for the 21st Century http://www.economics21.org/commentary/guide-2013-social-security-trustees-report . Blahous tells us “Social Security faces a […]

If Interest Rates Rise, We Can Plummet the National Debt!

Dean Baker makes what seems to be a stunningly obvious point, one that I haven’t seen discussed anywhere. Condensed and with emphasis added for your consideration: …the value of our [government] debt will plummet if interest rates rise… we could buy back long-term debt issued today at interest rates of less than 2.0 percent for discounts of […]

The Eternal War

Andrew Bacevich writes: Twelve and a half years after Congress didn’t declare war on an organization of hundreds or, at most, thousands of jihadis scattered mainly across the backlands of the planet, and instead let President George W. Bush and his cohort loose to do whatever they wanted; twelve and a half years after the […]

The ‘ignorance is bliss’/’ride’em cowboy’ mentality of today’s GOP

by Linda beale The ‘ignorance is bliss’/’ride’em cowboy’ mentality of today’s GOP Today’s GOP is dominated by the Tea Party types that are a cross between an ostrich with its head stuck in the sand– the “ignorance is bliss” philosophy– and a 1860s cowboy as depicted in the 1960s western-mania TV shows– the “hell bent […]

tax breaks for wealthy; corporate tax shouldn’t be reformed away; seed patents are a real scandal

by Linda Beale Tax breaks for wealthy; corporate tax shouldn’t be reformed away; seed patents are a real scandal No time for lengthy commentary today, but worth calling attention to some noteworthy items. (1) The CBO released a new report detailing the income groups that benefit most from the various tax expenditures in the internal […]

Tax Breaks Favor The Income Rich

Jon Perr at Crooks and Liars does a nice review on defining who benefits the most from tax breaks:  CBO Study Shows Tax Breaks Favor the Rich   “Every year, tax expenditures–Uncle Sam’s myriad credits, exclusion, loopholes and breaks–cost the U.S. Treasury over $1 trillion a year. To put that in perspective, that figure is greater than […]

“Per qualche dollaro in più” or For A Few Dollars More . . .

Having helped quite a few younger people rearrange student loans from the private sector to Direct Loans or consolidate loans to achieve lower interest rates or payments; I just find this market-place-staging by some politicians offensive. July 1st the rates are expected to double (3+% to 6+%) for subsidized and unsubsidized Stafford loans and probably […]

Justice Scalia Says Rightwing Economic Ideology is Mandated By the Constitution. Really.

Scalia regularly bars video or voice recordings of his off-the-bench speeches, and in at least one fairly recent instance, the details of which I can’t recall, he employed a member of the U.S. Marshals Service to enforce his policy.  If I recall correctly, a member of his security detail confiscated a reporter’s or law student’s […]

Is the IRS Inspector General Himself Partisan, Or Is He Just Stupifyingly Clueless About the Law?

After the tax agency was denounced in recent weeks by President Obama, lawmakers and critics for what they described as improper scrutiny of at least 100 groups seeking I.R.S. recognition, The New York Times examined more than a dozen of the organizations, most of them organized as 501(c)(4) “social welfare” groups under the tax code, […]