Why are Republicans forcing a government shutdown and doing other things aimed at blowing up the economy? The question isn’t “are they,” it is why are they? Their election strategy for 2010 was to obstruct everything and keep the economy from creating jobs, and then blame Democrats. It worked. So now they're doing it even more. But is that the whole plan? more »
What was the lesson of the 2010 election? Since the election conservatives and the DC opinion elite have been claiming that the public voted for budget cuts. But before the election they ran ad after ad saying Dems cut your Medicare and didn't provide jobs. Now every single poll shows that the public wants jobs not cuts. more »
Last week, I wrote of strange fiscal shenanigans in the reddest of the red states; like tax increases in Mississippi and increased government spending in Texas. "So," I asked, "why are Texas and Mississippi having serious budget problems? And why are their governors breaking promises about taxes and spending?" There are two answers to that question; one simple answer, and one that delves deep into the mysteries of tax and spend conservatism.
A "report" from Republican staff of the Joint Economic Committee says that the path to job creation is cutting ... the very things that create jobs. This is like saying that cutting taxes increases revenue. We know how that worked out, and the job-consequences of budget cuts are going to be just as disastrous. more »
To prepare you for the following stories, here is some context. You might remember that just a few weeks ago Washington passed an extension of the huge tax cuts for the rich and as an added bonus cut the tax on inherited income way, way down. This added approx. $400 billion a year to the deficits. more »
The stream of economic experts who are denouncing the budget slashing that the House of Representatives did last month has just turned into a flood. more »
When Congress goes back into session next week, the Senate will be under pressure to compromise with the House on a sweeping set of cuts to the 2011 budget. But there is little room for compromise with a budget plan that in so many ways does serious harm to people and to the economy.
Representative Paul Ryan (R-WI), head of the House Budget Committee, says that reducing the federal government’s deficit is a “moral challenge”.
He’s right. Finally, one politician who recognizes that the hysteria about federal budget deficits and debt has nothing to do with economics. There is no credible economic theory and no economic evidence that can lead one to conclude that the U.S. needs to reduce its budget deficit during a time of widespread unemployment.
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