A report on protests at the Tampa convention appearing in the Hill (h/t Lambertstrether) partly focused on views about our economy and financial system of an Occupy protestor named Andrew Speirs. more »
In the shadow of the election campaign, receiving comparatively little attention from the media is another accelerating effort to prepare the way for a “grand bargain” that will legislate a long-term deficit reduction plan embodying “shared sacrifice,” including entitlement cuts that will weigh heavily on the vulnerable including, the young, the elderly, the old, the disabled and other dis more »
(Author's Note; Many thanks to lambert strether, beowulf, and Yves Smith for their reviews of this post)
Well, the debt limit crisis is upon us. Treasury Secretary Geithner says the US Government will not be able to meet all its obligations on August 3, unless the debt ceiling is increased by Congress. The Secretary says he is out of moves to extend this date. I don't think that's true. more »
(Author's Note: Most of this diary was previously published back in January; but I've revised it slightly for these reasons. First, a Government shutdown is now upon us, even though the debt ceiling issue isn't quite at the forefront yet. more »
Over the last couple of weeks there's been an exchange between Charles Krauthammer writing in one of the austerity mongers' favorite newspapers and Jack Lew, the Director of the Office of Management and Budget (OMB), writing at the OMB blog. This exchange illustrates a kerfuffle, that ignores the real issue surrounding entitlements and fiscal responsibility. more »
Arianna Huffington is calling attention to “the great budget battle of 2011,” between the President and the Republicans. She correctly points out that whichever of the two sides win, we, the people, lose. more »
The media and much of the blogosphere are framing the coming debt ceiling decision, somewhen in the March to early May period, as one in which the Republican-majority House of Representatives may refuse to extend the Federal debt ceiling, forcing both a Government shut-down, and also a possible US default in paying its debt obligations to its creditors. more »
The media and much of the blogosphere are framing the coming debt ceiling decision as one in which the Republican-majority House may refuse to extend the Federal debt ceiling, thus forcing both a Government shut-down, and also a possible default of the US in paying its debt obligations to its creditors. more »
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