Tag Archives: deficit

Obama’s First State of the Union a Source of Regret

Obama’s First State of the Union a Source of Regret
On Jan. 27, 2010, Obama appeared before Congress for his first State of the Union and declared that the time for moderate austerity had arrived. It would prove to be a seminal moment for his presidency -- setting the stage for years of debate over the deficit and debt reduction -- and it would ... Read more

The Standard & Poor’s Agenda

By George Zornick August 8, 2011, The Nation Standard & Poor’s declared in April that if $4 trillion in savings was not achieved in the debt ceiling deal, it would downgrade the government’s credit rating from AAA status. They did so on Friday, citing not only a deal that achieved “only” $2.1 trillion in savings ... Read more

The history lesson Obama has ignored

Obama has made the same mistake as FDR, turning his back on Keynesian economics. And we’ll all pay dearly for it By David Woolner New Deal2.0, August 3, 2011 Wikipedia Former president Franklin Delano Roosevelt “The economic experiments of President Roosevelt may prove, I think, to be of ... Read more

What Happens After the U.S. is Downgraded?

By John Carney CNBC.com, August 6, 2011, 10:31 AM Barack Obama signed into law a bill to raise the debt ceiling, preventing a default on U.S. government bonds or other obligations. But despite a resolution on the debt-ceiling debate, Standard & Poor’s decided that the deal failed to produce a ... Read more

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