The President is setting up a "Deficit Commission." Many, especially on Wall Street, are demanding that Social Security -- the retirement program that people paid into all of their working lives -- be cut. They want it cut rather than start paying back what was borrowed from the trust fund and used to pay for tax cuts for the rich -- also especially on Wall Street. more »
Earlier today, progressive leaders representing more than 50 organizations declared their opposition to the Conrad-Gregg debt commission proposal, which is expected to be introduced on the Senate floor soon as part of the bill to allow our federal government to meet its obligations by raising the debt ceiling. more »
The country has a very large debt built up from years and years of borrowing since Reagan. Bush's last budget year had a deficit of $1.4 trillion! This borrowing was caused by:
1) Conservative tax cuts for the rich under Reagan and Bush II that broke the budget.
2) Conservative spending increases, mostly on military. more »
The Washington Post ombudsman finally responded to the complaints about the paper's inappropriate relationship with Pete Peterson and his new "news" operation the Fiscal Times. more »
At the end of the year the Washington Post published as "news" a story, "Support grows for tackling nation's debt" that pushed the idea of "a special commission to make the tough decisions that will be required to dig the nation out of debt" and "rein in skyrocketing spending on Medicare, Me more »
At the end of the year the Washington Post published as "news" a story, "Support grows for tackling nation's debt" that pushed the idea of "a special commission to make the tough decisions that will be required to dig the nation out of debt" and "rein in skyrocketing spending on Medicare, Me more »
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