Tag: Austerity

GOP:Nero-esque Fiddlers While Economy, Climate Burn

What happens to the Chinese economy resounds far beyond Shenzhen and Shanghai. The majority of the people in the rest of the world might shrug but economists point to looming troubles unless the idiotic austerity programs still in place in the U.S. and Eurozone don’t back down from the voodoo economics of supply-side theories that…

Your Childrens’ Future is Dying: It’s On You to Save It

The middle class is on the verge of extinction in America and people are mad, frustrated, and feeling helpless to do anything about it. I totally understand it, but it will not change until we change. And I’m not talking about the got-damm budget deficit. Wages for the middle class has stagnated to such a…

Bad News from the GOP’s CBO Director-Tax Cuts Don’t Work

The new Republican-appointed director of the Congressional Budget Office delivered some bad news on Tuesday to the party’s “Reaganomics” devotees: Tax cuts don’t pay for themselves through turbocharged economic growth. Never have. Never will. Keith Hall, who served as an economic adviser to former President George W. Bush, made the pronouncement at his first news…

Greece: What No One is Telling You

Greece: How could the following situations affect the average American? Barred banks, capital controls, the first IMF default by a developed country, EVER, the collapse of a multi-billion-euro bail-out, plans for a referendum that may hasten Greece’s ejection from the single currency, and the impoverishment and desperation of the 99%. Were the stakes not so…

Think Elections Don’t Matter? Ask Anyone in Jindal’s Louisiana

Next time you think elections don’t matter, talk to someone from Bobby Jindal’s Louisiana. (As a matter of fact, check in with Brownback’s Kansas, Walker’s Wisconsin, Christie’s New Jersey while you’re at it). Baton Rouge is not exactly Shangri-La these days, as Governor Bobby Jindal has all but destroyed the economy, the educational system, including the…

The Reason Our Tax Structure Could Lead to the Next Crash

Warning bells just keep getting louder and louder as the countdown to the Next Crash keeps ticking. Wall Street’s in denial—or possibly simply trying to make as much money as possible to stash offshore before the shit hits the fan–but the Washington Post warns: “U.S. economic growth slows to 0.2 percent, grinding nearly to a…

Republicans Paint Themselves Into a Corner

Republicans have managed to paint themselves into a corner that the offspring of the Flying Wallendas and Houdini would find difficult to traverse. As my grandpa used to tell me, “Be careful what you wish for boy, if you get it, you might just not know what to do with it and it’ll bite you…

Serial Job Killers: Conservative Economics

I hope the next time your right-wing family member or former high school classmate posts a snide remark about out how taxing the wealthy or increasing workers’ wages are jobs killers or that they entice businesses to leave the state, please, do yourself a big favor and show them the FACTS below….not that facts have…

Supply-Side Economics Implode; More to Come

Call it the Laffer Curve, Reaganomics, Austerity, supply-side economics, the Pro-Growth Agenda; it was the same argument. We’ve been hearing it for over thirty years: “Cut income tax rates for the wealthy and supply-side prosperity follows.” There were national and international battles of course, but until recently U.S. state governments had escaped the ideological barricades.…

Has Extreme Obsrtuctionism Made Washington Irrelevant?

Washington has become so ineffective at addressing the preponderance of our nation’s problems—to the degree that it’s existence is almost irrelevant, and in some cases a downright threat to the country— it’s become irrelevant in making the bold and decisive moves required of it, under the Constitution, to provide for the safety of its citizens.…

The (non)Mysterious Vanishing Deficit

If I were to assume the persona of Sherlock Holmes, in explaining what has happened to the vanishing deficit, I would be inclined to make the following observation; “As a rule, the more bizarre a thing is the less mysterious it proves to be”.  Voters with long memories–by U.S. standards anyway–might recall that from 2010-2013…

Austerity: Punishing the Poor for Mistakes of the Rich

Why can’t Americans take the simple action to look across the ocean and see just how badly austerity devastates economies, and especially the poor, during economic downturns? Do we really want the same to happen here just to make President Obama look bad? Really? Because this is what you can expect if we keep cutting…

Dorothy, the Austerity Tornado Took Your Red Heels. Kansas is Toast.

Ultra-Red-State Kansas, the poster child for cutting taxes sharply in line with austerity recommendations of the American Legislative Exchange Council, or ALEC, has implemented its calls for deep tax cuts and limits on revenues and spending which reflect extreme “supply side” and anti-tax arguments that mainstream economic research discredited long ago, the Center on Budget and Policy…

GOP Austerity Could Kill You…on the Highways

The latest battle over taxes and GOP austerity is hitting the highway, and could kill anyone reading this article including you, your children, or your children’s children. As Democrats have been trying to reason with Congressional Republicans in general, and Tea Party zealots in particular, our roads and bridges, as badly degraded as they are,…

ALEC Distracts Electorate From Economy, Jobs; Is It Too Late?

Even the most clueless Americans are beginning to look up from their smartphones and tablets and see the severe ideological crevasse that distinguishes progressives from conservatives, whether it’s on economics, morality, patriotism, or whatever the ALEC-controlled red-state legislatures can use to keep women, blacks and Hispanics in survival mode through either abortion or immigration standoffs.…

Budget “Austerians” And Deficit Hawks Won’t Face The Facts

Today’s Liberal Beef?  It staggers my imagination to think of how much more solid the U.S. economy’s recovery would be if not for the damned “austerians”, or Tea partiers as they prefer to be labeled—and boy do they LOVE labels– were not such suckers for the panderers and deficit-obsessed. According to the latest forecasts, both…

What Congress Does Best-Nothing

Despite widespread fears that dramatic budget changes would wreck an already fragile recovery, Congress unsurprisingly decided not to stray from their recent modus operandi and do what they do best– which became exponentially more prevalent since the current substandard Supreme Court decided to let corporate billions subvert the democratic process via the inexplicable ruling in…

Don’t Get Too Excited About February’s Unemployment Drop

More than five years after George W. Bush’s economic crash, it apparently doesn’t take much to get people excited about the state of unemployment. The Labor Department’s February employment report showing the economy generated a better than expected 236,000 jobs and the unemployment rate had fallen 0.2 percentage points to 7.7% was sufficient to get the optimists’…

Why the GOP Congress Doesn’t Care What You Think

Embracing the gratuitous anti-government rhetoric and archaic economic theorizing that passes for policy analysis in much of today’s G.O.P., Congress and the White House might be making the same mistake that F.D.R.’s Administration made in 1937, when it brought on another recession that led to the Great Depression. And Fed Chairman Bernanke has, on many…

Lobbyists-The Political Mafia

What our economy needs is a friendlier environment to the kind of entrepreneurial risk-taking that has always been America’s trump card over all other countries; which means getting the Mafia of modern politics–lobbyists and their corrupting big money–out of Washington. Monopolies bring power and money. It happened during prohibition, it happened before the Great Depression,…

Neo-Luddites Dragging Down Demand and Recovery

If only the Neo-Luddites in the U.S. would get their heads out of their rear-ends and stop dragging the U.S. economy down, our economic recovery would have a very good chance of staging a remarkable comeback. Lord knows that  the people of the eurozone are doing their part. Even facing  severely ill-timed austerity measures, I have to say that I’m surprised…

The Right’s Inflation Boogey-Man Is Fake

One of the most interesting “boogey-men” used by the far right is inflation. We are constantly bombarded by the fear of inflation if we don’t stop all this “runaway spending on the poor and elderly”. What a crock. As is their modus operandi, The Tea Party and its propaganda arm, FOX Noise, is constantly fear-mongering…

Fiscal Cliff Was Just Another Gift to Corporate America

The real story of the fiscal cliff negotiations, and the coming debt ceiling debate, is a continuing tale of corporate America tax cuts and the CEOs who love them. The abject hypocrisy over deficits can be illustrated with one simple statistic. According to the Institute for Policy Studies, 25 of the most-well-paid chief executives got…

Will Anyone Stop This Runaway Train To Great Depression 2.0?

Apparently, The Federal Reserve, the U.S. Congress, the European Central Bank, Germany, France, even China and Russia, have all decided that avoiding the runaway train that is the coming economic catastrophe is somebody else’s responsibility. As much as I hate to admit it, it appears to me that the party is over. The runaway freight…

GOP Austerity Gobbledegook De-bunked: Again!

If the majority of U.S. voters are stupid enough to buy into the GOP economic austerity gobbledegook and swallow their crazy, backwards, delusional, cockamamie economic theories, we deserve another Great Depression. I hate to admit it, but my dad may have been correct. He always told me that people generally get what they deserve. Last…

Must The GOP Always Use Fuzzy Math?

Once a discussion of Austerity vs Stimulus economics begins it’s clear that for either to work properly, it must be implemented in the same balanced manner as a math equation. Both sides of an equations, regardless of layout, format, methodology, or complexity. One plus one not just does equal two, one plus one MUST equal…

The Cure for the Republican Economic Bird Flu

The Republicans/Conservatives have infected the global economy with an economic bird flu crisis. Luckily there is a cure. The type of economic crisis that we are in consists of two distinct stages. We are now in the second and increasingly lethal  stage. This crisis is global in its scale and degree of its reach. It…

Austerity: The Real Euro Crisis Begins in Spain

For months, I’ve tried to explain that the real reason for concern regarding the euro is Spain, not Greece. Greece is largely symbolic; and easy fodder for conservatives to make a false equivalency between the poor in the U.S. and the “lazy Greeks”. In spite of all the baseless claims and bumper-sticker slogans tossed around…