Tag Archives: spending

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

States That Cut The Most Spending Have Lost The Most Jobs

By Adam Hersh Think Progress, June 27, 2011 There’s a new cult of economic thought sweeping the nation — or at least many Republican (and even some Democratic) political circles. Its adherents cling to the erroneous belief that sharp government spending cuts will revitalize economic ... Read more