Categories
economics Uncategorized

Krugman: Where Are The Deficit Celebrations?

Krugman: Where Are The Deficit Celebrations? For three years and more Beltway politics has been all about the deficit. Urgent action was needed to avert crisis. A Grand Bargain absolutely had to be reached. Fix the Debt, now now now! So where are the celebrations now that the debt issue looks, if not solved, at […]

Categories
politics Uncategorized

“Democracy Has Descended Into Institutionalized Bribery”: An Interview with David Graeber

“Democracy Has Descended Into Institutionalized Bribery”: An Interview with David Graeber We’re taught that democracy was like a scientific breakthrough. People discovered democracy, as if people didn’t know how to count beforehand. But what you see when you look at the anthropological record, are countless examples of egalitarian decision making.

Categories
economics Uncategorized

When interest rates are close to the rate of economic growth, Gagnon continues, you can run a budget deficit forever as long as the primary deficit is balanced. The debt load as a share of the economy won’t increase over time. And if interest rates are lower than the pace of growth — as they […]

Categories
economics Uncategorized

we have a situation in which a terrorist may be about to walk into a crowded room and threaten to blow up a bomb he’s holding. It turns out, however, that the Secret Service has figured out a way to disarm this maniac — a way that for some reason will require that the Secretary […]

Categories
politics Uncategorized

How we can succeed through supercommittee’s ‘failure’

How we can succeed through supercommittee’s ‘failure’ Here is a surefire way to cut $7.1 trillion from the deficit over the next decade. Do nothing. That’s right. If Congress simply fails to act between now and Jan. 1, 2013, the tax cuts passed under President George W. Bush expire, $1.2 trillion in additional budget cuts […]

Categories
politics Uncategorized

Outside the Bubble

A new CBS poll says virtually no one thinks the deficit or the national debt are the top problems facing the country. From Talking Points Memo Not surprised one bit. I’d be willing to bet that the tea-party folks most vocal about debt, deficit and taxes are no more knowledgeable on those topics then a sampling of […]