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

Elites Demanding Austerity Also Ignored Housing Bubble

Dean Baker writes to the question of who is pushing the fiscal cliff idea: Elites Demanding Austerity Also Ignored Housing Bubble … it was somewhat shocking to see a book review in The New York Times by Noam Scheiber, an editor at The New Republic, that longed for the day when we will have people […]

Is it a fiscal cliff or merely a bump in the road?

by Linda Beale Is it a fiscal cliff or merely a bump in the road? Sixty percent of American voters in exit polls indicated that they supported higher taxes for the wealthy, see here.  Even some arch conservatives are acknowledging that some tax increases won’t do terrible harm.  Id. (noting that the Wall Street Journal’s […]

…the sacrifices necessary…

Beat the Press Dean Baker November 22, 2010 says it well: The Washington Consensus That Excludes the Overwhelming Majority of the Public A front page Washington Post editorial * touted the “accord seen in debate over deficit.” It begins by telling readers that: “the sacrifices necessary to achieve those goals are coming into sharp focus.” […]

Dear ———– (Congress people),

Lifted from comments here by Reader Jack, who recommends writing to your Congress representatives. Now this is probably not as satisfying as the (hat tip Yves Smith crosspost) post from Steve at the Daily Bail. Dear——-, I hope that you will be standing tall against the current forces of deception that are campaigning hard to […]

Obama’s fiscal commission offers recommendations

Some of the recommendations as outlined by TPM from the Pres. Obama’s Bowles and Simpson fiscal commission: Social Security cuts: Index the retirement age to longevity — i.e., increase the retirement age to qualify for Social Security — to age 69 by 2075. Index Social Security yearly increases to inflation rather than wages, which will […]