Provided that the Senate and House follow through on the scenario now on the table, it looks like the game of chicken worked for the Democrats this time. We’re off the hook on default and Government shutdown for now, and Washington village pundits are in full-throated cries of celebration.
Tag Archive for Deficit Spending
Contributors- Economic and Financial, Must Read
Rationalization and Obligation, Part I: No Magic Bullets? New Economic Perspectives
by Joe Firestone • • 0 Comments
The media and politicians in both parties are still largely echoing the Administration’s framing of the fiscal situation and absolving the President of his share of the blame for the debt limit crisis. They’re reinforcing his message They’re also preparing the way for a compromise, that will, almost certainly, result in hurtful cuts to Government spending including renewed consideration of “the Great Betrayal,” also known as “the Grand Bargain,” including passage of the chained CPI cuts to Social Security over the objections of a large majority of the American people.
Contributors- Economic and Financial, Must Read, William Black
Stop “the Great Betrayal:” Kabuki Update – New Economic Perspectives
by Joe Firestone • • 0 Comments
It now looks like the big media and leaders in both parties are no longer focusing on the Government Shutdown crisis, but are now moving on to the notion that the shutdown is melding with the upcoming probable breaching of the debt limit to create a combined mother of all fiscal crises.
Contributors- Economic and Financial, Must Read, William Black
Declaring the Grand Bargain Dead Is Premature – New Economic Perspectives
by Joe Firestone • • 0 Comments
This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. Stories in The Washington Post and the New York Times have some in the blogosphere proclaiming that it’s time to celebrate the death of the Grand Bargain, and others at least raising a question about its death.…
Contributors- Economic and Financial, Must Read
Jack Lew: Avoiding Default Is Your Responsibility Too – New Economic Perspectives
by Joe Firestone • • 0 Comments
This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. With the end of the Summer break, now comes the return of the debt limit dance. From Treasury Secretary Jacob Lew’s letter to John Boehner: “Congress should act as soon as possible to protect America’s good credit…
Chriss Street, Contributors- Economic and Financial, Must Read
Impact of Sequester on California- Chriss W. Street
by Chriss W. Street •
Over the weekend, the White House released a report detailing some of the programs and services in California that would be impacted beginning Friday, March 1st, by the White House Budget cuts necessary to meet sequestration requirements. The Administration has threatened that the cuts will result in a massive contraction of the national economy. The…
Must Read
Businessweek’s “How Europe’s Contagion May Hit the U.S. Economy” Ignores its Benefits to US Economy
by Lee Adler • • 0 Comments
Businessweek argues that the European crisis is hurting the US economy. It ignores ignores the fact that European capital flight is driving US interest rates through the floor, and more importantly, directly funding US government deficit spending. Even a small reduction in that spending would result in a stall in the US economy. The US…
Charles Hugh Smith
There Is No Shortcut, But All We Have Are Shortcuts
by Charles Hugh Smith • • 0 Comments
Cheating on the final exam to get an A doesn’t mean you mastered the subject. Yet cheating is all we have in America because sacrifice and adult trade-offs are too painful.
We all know there is no shortcut to anything worth having–mastery, securit…
Charles Hugh Smith, Contributors- Economic and Financial, Must Read
Will "Tax the Rich" Solve Our Deficit/Spending Crisis?
by Charles Hugh Smith • • 0 Comments
If we look at tax revenues and income in a practical way, we find “tax the rich” will not close the widening $1.5 trillion gap between Federal revenues and spending.
Clearly, $1.5 trillion annual Federal deficits to fund the Status Quo–fully 10% …
Bears Chat, Best of the Forums, International, Must Read
Europe shows how a fat public sector consumes an economy
by Bears Chat at The Wall Street Examiner • • 0 Comments
Europe shows how a fat public sector consumes an economy
November 14, 2011
Opinion
At the weekend I went to a talk by one of the most impressive public intellectuals in Australia, Pierre Ryckmans. After the session, I asked him about the deteriorati…
