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

Greenspan promoting “Entitlement” cuts as the necessary solution to the economy. 25% worth!

From an interview on NPR’s Here and Now comes: “The official actuaries of the Social Security system say in order to get our Social Security and retirement funds in balance, they’d have to cut benefits by 25 percent indefinitely into the future,” he says. “Do I think it’s going to happen? Well I don’t know, […]

When it comes to finding money: People vs Corporations, $535 billion over 10 years

As we continue this fight regarding the national budget, funding for the people, (food, unemployment, medical), entitlements and the overall moral position this nation has and will take with its money, let’s recall the truth about a program that was sold and is still sold as a benefit for the people.   It’s cost is intentionally […]

The Hill reports on "supercommittee"

by Linda Beale The Hill reports on “supercommittee Alexander Bolton reports that “With Supercommittee Deadlocked, leaders Reid and Boehner meet“, The Hill (Nov. 15, 2011).  Reid (Dem) and Boehner (GOP) met Tuesday, but aides told The Hill that “They’re not about to dive in” to the negotiations.  But as the committee seems to be at […]

Further fleshing out the truth regarding Obama and SS and…

by Daniel J. Becker Back in June of ’08 I asked regarding Jason Furman’s appointment by Obama: Is this the concession the Clinton/Blue Dog group was looking for? The DLC still keeps control of the money issues? I asked because of his connection to the Hamilton Project at the Brookings Institute: Hamilton Project, a small […]

Obama and Social Security: NewDealDemocrat Tees Off

by Bruce Webb (UPDATE: Digby readers, I want to make it clear that I am not NewDealDemocrat, I just got permission to cross-post this important compilation from NDD.) Blog friend NewDealDemocrat has a recommended diary up on dKos called Mr. President, No Real Democrat is agnostic about Social Security. NewDeal gave me an advance look […]

Debt vs Unfunded Liability: Entitlement Commission Bait and Switch

by Bruce Webb A bipartisan group of Senators is making a push to tie an increase in the debt ceiling to establishment of a Commission whose focus in on reducing the growth of entitlements. Now clearly Medicare spending growth at its current rate is not sustainable, which fact makes the current full-throated defense of that […]

Is David Leonhardt pretending Henry Paulson did his job?

Or does he know better? This year’s election coincided with an important moment in the financial crisis. The credit markets have stabilized in the last few weeks and even improved a bit. But the rest of the economy is deteriorating fairly rapidly. It’s now in danger of falling into a vicious spiral, in which spending […]