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economics Uncategorized

Why is Paul Ryan’s Budget Trying to Dismantle Financial Reform?

The budget Paul Ryan released yesterday has huge cuts that are likely to fall on the poorest Americans while offering all kinds of bonuses to the top 1%. Others will be talking about how it eliminates Medicare and Medicaid. I want to talk about how it dismantles one of the few regulations put on Wall Street […]

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Realism on Defense Spending

if we’re talking about fiscal issues, you have to bear the arithmetic in mind. We’re not living in the 1950s, when defense was half the federal budget. Even a drastic cut in military spending wouldn’t release enough money to offset more than a small fraction of the projected rise in health care costs. From Realism […]

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politics Uncategorized

Paul Krugman calls out Cantor on budget cuts

The real story here is that the sums involved are ludicrously trivial; eliminating everything on Cantor’s list would amount to a rounding error on federal spending. … The truth is that it has always been like this. Ever since Reagan, the conservative approach has been to talk about the need for smaller government, but refuse […]