Progressive Opinion

prospect.org — Information is the life-blood of public policy. Identifying a problem is the first step to solving it, and once a solution is in place, we need metrics to understand if the policy is working and how to turn its weaknesses into strengths. Though the data we have today are, unsurprisingly, better than ever, there are still too many dark spots and missing data on a host of important issues. Take, for example, the financial sector. Bank regulators, lacking a clear picture of how predatory mortgage loans are connected to global capital flows, allowed an exuberant bubble to spin into a crash in 2008. It's a reminder that if we can identify gaps in our knowledge, we would be remiss not to close them.

more »

washingtonmonthly.com — This isn't a subjective question open to debate; we tried a policy and we can evaluate its results. In this case, Republicans said Bush's tax policy would produce wonders for the economy, and they got exactly what they wanted. We now know, however, that the policy didn't generate robust growth, didn't create millions of new jobs, didn't spur entrepreneurship and innovation, and certainly didn't keep a balanced budget. And now, as the failed tax policy is set to expire, what's the new Republican message? That this policy must be extended at all costs, and anyone who disagrees is putting the economy at risk. They not only say this with a straight face, the argument in support of a policy we already know didn't work manages to scare a whole lot of Dems.

more »

huffingtonpost.com — How about instead of giving the money to the rich and hoping that they create jobs, we just create the jobs! Imagine what we could build and how much good we could do for the country if we used that extra $700 billion to actually hire people directly. Imagine how many jobs that could create. Imagine. $700 billion set aside just to hire people. To hire Americans. Or we can go with the Republican plan of giving it all to the rich and hoping they create jobs at some point and hoping that those jobs are here in America. You be the judge.

more »

baselinescenario.com — The conventional wisdom is that we face a serious budget problem, ballooning debt and political deadlock that prevents any semblance of progress either in the short term or over the next 20 years. “The sky is falling — cut everyone’s wages, slash Social Security, buy gold!” summarizes the mood of this midterm moment. But step back and look at American public finances from any angle — historical, comparative with other nations, from Mars — and the picture is very different. We have a simple economic problem — we need to fix our tax system, irrespective of how much revenue we want from it. And we continue to face the central American political problem of the last 200 years: how much inequality are we willing to accept as reasonable and fair?

more »

thenation.com — The economy has some major problems: a record number of homes are in foreclosure; the wealth gap is greater than at any time since the 1920s; banks still aren't lending; and unemployment is stuck at 10 percent, creating the conditions for a deflationary spiral. These are all reasons enough to jolt the political system into action to provide a second stimulus to boost employment. But the jobs crisis is not what has Washington in a tizzy. Instead, the Beltway is going ballistic over a problem that has been blown way out of proportion—the deficit.

more »

truthdig.com — It's hard for liberals (believe me, I know) to fathom that there are any parts of the Bush legacy we might miss. But imagine if the main result of the Tea Party is a "correction" of the Bush creed involving a move away from its most open and tolerant features and a rebellion against even the idea that compassion is a legitimate object of public policy. A conservatism that abandons the redeeming side of Bushism will not be an improvement on the old model.

more »

washingtonpost.com — It's a strange populism that denounces Wall Street in one breath and, in the next, shouts down tax changes that would treat the financiers' incomes like those of everyday folks. But that pro-billionaire version of populism seems to have won big in the midterm elections. And it probably means the demise of a congressional effort to strike down one of the most outrageous provisions of our messed-up tax code, which is the special treatment of "carried-interest" compensation that's paid to many investment fund managers. This loophole is so unfair that it gets criticized even by some of the tycoons who have benefited from it, such as former Treasury secretary Robert Rubin.

more »

washingtonpost.com — The conservative use of American exceptionalism as a political sword today is perversely revealing. There's something off when the first generation of Americans that is less educated than its parents feels a deep need to be told how unique it is. Or that a generation that's handing off epic debts and a chronically dysfunctional political process (among other woes) demands that its leaders keep toasting its fabulousness. Especially when other nations now offer more upward mobility, and a better blend of growth with equity, than we do - arguably the best measures of America's once-exceptional national performance. Wouldn't it bolster Americans more to be told that we can meet the challenges of this moment? Wouldn't we be better off striving to be exceptional at solving our common problems?

more »

progressive.org — We’re going to get a nasty serving of Republican policies in the next couple of years. And they’re already sending around a sampling. Republicans in Congress are proposing to amend the charter of the Federal Reserve Board not to make it more responsive to the people or less beholden to the banks. No, Republicans in Congress want to strip the Fed of any responsibility for promoting full employment.

more »

truth-out.org — If you happen to be sick and poor and are among the 98 people in Arizona who are awaiting state-funded organ transplants, you've just been handed a death sentence. Instead of trying to save the lives of these people, who had been told that they had a chance to spend a few more years with their families, the Arizona legislature has chosen to take away their hope in order to save an estimated $4.5 million. Facing a projected $1.5 billion budget deficit, the state of Arizona has decided to make poor people pay with their lives instead of making rich people pay with their treasure.

more »