Tag Archives: Obama

Why Obamacare Can’t Lower Costs

Why Obamacare Can’t Lower Costs
President Obama and the Democratic Party dug themselves into a deep hole by claiming the Affordable Care Act would cut the nation’s health care costs when in fact it will raise them. It’s the gift that will keep on giving to opponents of the law. The ACA cannot cut costs because its proponents subscribed to the wrong diagnosis of the U.S. health care crisis. Read more

Walmart is the last place Obama should be making a clean energy speech

Walmart is the last place Obama should be making a clean energy speech
Today President Obama is speaking about clean energy and energy efficiency at a Walmart in Mountain View, Calif. Of all the places he might give a big speech on energy, a Walmart supercenter is a baffling and disconcerting choice. Walmart — despite its skill in attracting publicity like this — is a laggard on renewable energy and one of the biggest and fastest-growing climate polluters on the planet. While many competing retailers are ... Read more

Obama’s Trade Deal Would Deepen Income Divide

Obama’s Trade Deal Would Deepen Income Divide
“Those at the top have never done better,” President Obama ruefully acknowledged in his January 28 State of the Union speech. “But average wages have barely budged. Inequality has deepened.” Yet, moments later, Obama heartily endorsed the Trans-Pacific Partnership (TPP), which as drafted directly reflects the demands of “those at the top” and would, if passed, severely intensify the very inequality spotlighted by the president. The TPP would ... Read more

Wall Street’s New Housing Bonanza

Wall Street’s New Housing Bonanza
Wall Street’s latest trillion-dollar idea involves slicing and dicing debt tied to single-family homes and selling the bonds to investors around the world. That might sound a lot like the activities that at one point set off a global financial crisis. But there is a twist this time. Investment bankers and lawyers are now lining up to finance investors, from big private equity firms to plumbers and dentists moonlighting as landlords, who ... Read more

Obama’s Address Fails to Look at Roots of Income Inequality

Obama’s Address Fails to Look at Roots of Income Inequality
It's important that we restore the minimum wage. We're not talking about raising it. We're talking about restoring it. Back in the mid '60s, it was almost $11 an hour. And education is certainly very important and too much neglected in this country. We put huge barriers to bright but poor and middle-class children getting first-rate educations, especially at college. But we have much more fundamental problems than that. Many of these ... Read more

Poll: United We Stand on Wealth Gap

Poll: United We Stand on Wealth Gap
As the president delivers the televised address Tuesday, he'll be speaking to a country filled with people who are cautiously optimistic that the economy is improving but not at all sure its benefits are going to reach them. Indeed, at a time when Republicans and Democrats disagree about almost everything, on this there is virtually no partisan gap: 61% of Republicans, 68% of Democrats and 67% of independents think economic inequality has ... Read more

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 be one that close advisers would come to regret. Read more

The Economics of Barack O’Hoover

Obama’s Belief in the Market Economy By Paul Street Counterpunch, August 15, 2011 Pity the poor, powerless, increasingly unpopular president – a pitiful pawn of the plutocrats and the profits system he has done so much to serve and protect.  Nearly five years ago, in the misleadingly titled book that pre-announced the launching of his presidential candidacy, Barack Obama grounded the United States’ supposed distinctive “greatness” in ... Read more

Will Tax Holiday Kill Social Security>

Ignoring liberal Dems, Obama endorses longer payroll tax holiday through 2012 By Mike Lillis The Hill, June, 29, 2011 President Obama on Wednesday reiterated his push to extend an existing payroll tax holiday through 2012 – a move denounced by liberal Democrats who fear the reduction in revenues will undermine Social Security. “I think that it makes perfect sense for us to take a look at, can we extend the payroll tax, for example, an ... Read more

Is the Debt Ceiling Constitutional? The Debt Limit Option President Obama Can Use

By BRUCE BARTLETT, The Fiscal Times April 29, 2011 Debt Ceiling: Complete Coverage The vast majority of those commenting on raising the federal debt limit are certain that Congress will act in time to forestall a debt default, which would occur if the Treasury lacked sufficient cash to pay interest due that day or to redeem maturing securities. The smart money says that Congress could not possibly be so stupid as to permit a default and will ... Read more