Tag Archives: debt

Reading the Debt Ceiling Tea Leaves to Predict the Future

The Worst is Yet to Come By Jack Rasmus Z Net , July 14, 2011 A few weeks ago in late June it leaked out that Vice-President Biden had secretly agreed with Republicans to $1 trillion in spending cuts in an effort to get them to agree to raise the debt ceiling. That was soon upgraded in ... Read more

US debt deal: how Washington lost the plot

Politicians and the media are obsessing on debt, deficit and cuts, but the real story is a stalled economy and rising unemployment   Dean Baker guardian.co.uk, Monday 1 August 2011 Debt relief? Senate Republican leader Mitch McConnell gives a thumbs up when asked if a deal had been agreed. Photograph: Astrid Riecken/Getty Images President ... Read more

The debt deal: Disaster averted, decline straight ahead

By Matt Miller, Washington Post, July 31, 2011 So this is what we’ve driven the global economy and America’s credit rating to the brink for? This is why Republicans (who voted for the Paul Ryan plan that would add $5 trillion in red ink over the next decade) decided it was vital to not lift ... Read more

Debt Deal: Distaster Not Averted

The President Surrenders By PAUL KRUGMAN NY Times July 31, 2011 A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong. Fred R. Conrad/The New York Times For the deal itself, given the available information, ... Read more

The Forgotten Legacy of the Excess Profits Tax

By Phil Mattera Dirt Diggers, Digest, July 21, 2011 Behind all the ideological posturing going on in Washington over the debt ceiling, there is a surprising amount of consensus on the wrongheaded proposition that corporations need more tax relief. The bipartisan Gang of Six plan that has recently ... Read more

The Weird Battle Over the Debt Ceiling

Washington, DC is Exaggerating Debt Issue to Push an Agenda to Please Campaign Contributors and Hide the Real Causes of Debt By Dean Baker Al Jazeera, July 28. 2011 Policy debates in Washington are moving ever further from reality as a small elite is moving to strip benefits that the vast majority need and ... Read more

The 6 Biggest Lies About the U.S. Debt

As Congress nears a vote on the various debt ceiling deals, let’s look at the lies and misinformation that got us into this mess. By Arun Gupta AlterNet, July 28, 2011 There is one simple truth about the discussion of the looming U.S. debt crisis: it is largely a compendium of half-truths, ... Read more