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Meet the 28-year-old Student Who Exposed Two Harvard Professors Whose Shoddy Research Drove Global Austerity

Thu, 18 Apr 2013 00:00:00 -0700

AlterNet - By Lynn Stuart Parramore - Apr. 18 (News Report) - Carmen Reinhart and Kenneth Rogoff have become famous in politic and economic circles. These two Harvard economists wrote a paper, “Growth in the Time of Debt” that has been used by everyone from Paul Ryan to Olli Rehn of the European Commission to justify harmful austerity policies.

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David Stockman, Ex-Reagan Budget Director: George W. Bush's Policies Bankrupt The Country

Sun, 31 Mar 2013 00:00:00 -0700

Huffington Post - Mar. 31 (News Report) - A former adviser of Ronald Reagan has some choice words for George W. Bush. David Stockman, Reagan’s budget director from 1981 to 1985, slammed Bush and his former boss in an op-ed in The New York Times Sunday. Stockman argued in the piece that Reagan’s

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The Most Expensive Fighter Jet Ever Built, by the Numbers

Fri, 29 Mar 2013 00:00:00 -0700

ProPublica - By Theodoric Meyer - Mar. 29 (Special Report) - Thanks to the sequester, the Defense Department is now required to cut more than $40 billion this fiscal year out of its $549 billion budget. But one program that's unlikely to take a significant hit is the F-35 Joint Strike Fighter, despite the fact that it's almost four times more expensive than any other Pentagon weapons program that's in the works. We've compiled some of the most headache-inducing figures, from the program's hefty cost overruns to the billions it's generating in revenue for Lockheed Martin.

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Blame Eric Cantor and Paul Ryan for the Sequester

Sun, 03 Mar 2013 00:00:00 -0800

readersupportednews.org - By Josh Marks - Mar. 03 (Opinion) - Boehner tried for a "Grand Bargain" with President Obama in 2011, only to be reined in by Eric Cantor and Paul Ryan, according to a recent interview Cantor conducted with The New Yorker's Washington correspondent, Ryan Lizza. Cantor admitted that there was a final meeting with Boehner, Ryan and himself where Boehner wanted to accept the president's $1.2 trillion offer, but was talked out of it by Cantor and Ryan.

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Bernanke joins the ranks of economic ‘hippies’

Sat, 02 Mar 2013 00:00:00 -0800

seattletimes.com - By Paul Krugman - Mar. 02 (Opinion) - Now, as then, this consensus has seemed impenetrable to counterarguments, no matter how well grounded in evidence. And now, as then, leaders of the consensus continue to be regarded as credible even though they’ve been wrong about everything (why do people keep treating Alan Simpson as a wise man?) while critics of the consensus are regarded as foolish hippies even though all their predictions — about interest rates, about inflation, about the dire effects of austerity — have come true.

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‘Homeland Security’

Fri, 01 Mar 2013 00:00:00 -0800

nationofchange.org - By Chris Hellman, Mattea Kramer - Mar. 01 (News Analysis) - Homeland security is supposed to be the actual “defense” department—since the Pentagon is essentially a Department of Offense—and it’s rife with all the same issues and defects that critics of the military-industrial complex have decried for decades. In other words, “homeland security” has become another obese boondoggle.

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How the Economic Quacks Promoting Austerity Will Increase the Deficit

Fri, 01 Mar 2013 00:00:00 -0800

AlterNet - By Marshall Auerback - Mar. 01 (News Analysis) - The real fiscal responsibility lies in understanding how we invest in the future with jobs, education and decent roads and bridges. Letting our country fall apart, on the other hand, is the height of irresponsibility. If the US continues to make headway on the jobs front, it will do even better on the deficit front, which is why any sensible economist will tell you that deficit reduction per se should never be an object of government policy.

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Bitter Pill: Why Medical Bills Are Killing Us | TIME.com

Fri, 22 Feb 2013 00:00:00 -0800

Time - Feb. 22 (Opinion) -

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Obama So Far: Making History, Inspiring An Opposition

Sun, 20 Jan 2013 00:00:00 -0800

All Things Considered - By Frank James - Jan. 20 (Opinion) - Barack Obama was always going to have a place in history as the first African-American president. That's no small feat given the nation's peculiar past. But achieving what other Democratic presidents couldn't fueled deep divisions within the country and set the table for a second term with daunting challenges.

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Paul Krugman: Clueless Washington Doesn't Know The Deficit Is 'Mostly Solved'

Fri, 11 Jan 2013 00:00:00 -0800

Huffington Post - By Bonnie Kavoussi - Jan. 11 (News Report) - It has become conventional wisdom that the United States has a deficit crisis. But according to Paul Krugman, most politicians and journalists don't realize that the deficit has been "mostly solved." "Reasonable projections do not, repeat do not, show anything resembling the runaway deficit crisis that is a staple of almost everything you hear, including supposedly objective news reporting,"

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The Hoax of Entitlement Reform

Tue, 08 Jan 2013 00:00:00 -0800

readersupportednews.org - By Robert Reich - Jan. 08 (Opinion) - "Entitlement reform" sounds like a noble endeavor. But it has little or nothing to do with reducing future budget deficits. Taming future deficits requires three steps having nothing to do with entitlements: Limiting the growth of overall healthcare costs, cutting our bloated military, and ending corporate welfare (tax breaks and subsidies targeted to particular firms and industries). Obsessing about "entitlement reform" only serves to distract us from these more important endeavors.

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Fact-checking the Denver presidential debate

Thu, 04 Oct 2012 00:00:00 -0700

PolitiFact - By Becky Bowers, Jon Greenberg, Angie Drobnic Holan, Louis Jacobson, Molly Moorhead, Katie Sanders, J.B. Wogan - Oct. 04 (Fact Check) - President Barack Obama and former Massachusetts Gov. Mitt Romney traded barbs Wednesday night on taxes, jobs, health care and the economy — and often stretched the facts. "Mr. President," Romney said, "you're entitled as the president to your own airplane and to your own house, but not to your own facts." Romney also would have benefited from that advice. We're combing through the pair's remarks from the University of Denver's Ritchie Center, where moderator Jim Lehrer focused on the economy, health care, the role of government and governing. Here's what we've checked so far.

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Dubious Denver Debate Declarations

Thu, 04 Oct 2012 00:00:00 -0700

FactCheck - By Brooks Jackson - Oct. 04 (Fact Check) - We found exaggerations and false claims flying thick and fast during the first debate between President Obama and his Republican challenger, Mitt Romney. Obama accused Romney of proposing a $5 trillion tax cut. Not true.

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U.S. Carbon Tax Could Halve Deficit in 10 years

Wed, 26 Sep 2012 00:00:00 -0700

Scientific American - Sep. 26 (Opinion) - Showcasing more than fifty of the most provocative, original, and significant online essays from 2011, The Best Science Writing Online 2012 will change the way... Read More » WAHSINGTON, Sept 26 (Reuters Point Carbon) - Imposing a $20 per metric ton carb

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The Ryan-Romney Flim-Flam Ticket

Wed, 22 Aug 2012 00:00:00 -0700

readersupportednews.org - By Jim Hightower - Aug. 22 (News Analysis) - The nonpartisan Tax Policy Center, however, has tallied Ryan's budgetary giveaways to the rich and take-backs from the middle-class and the poor. Far from balancing the federal budget, as the self-proclaimed deficit hawk claims, the analysts found that Ryan's plan increases the federal deficit. And not by a little, but by about $2.5 trillion! So, yes, he is serious - serious as a snakebite.

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Four Biggest Government Spending Myths Debunked

Tue, 17 Jul 2012 00:00:00 -0700

Mother Jones - By Mattea Kramer - Jul. 17 (Opinion) - We're at the edge of the cliff of deficit disaster! National security spending is being, or will soon be, slashed to the bone! Obamacare will sink the ship of state! Each of these claims has grabbed national attention in a big way, sucking up years' worth of precious airtime. That's a serious bummer, since each of them is a spending myth of the first order. Let's pop them, one by one, and move on to the truly urgent business of a nation that is indeed on the edge. Continue Reading ...

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How ‘massive’ is Obama’s tax cut/tax increase?

Tue, 10 Jul 2012 00:00:00 -0700

Washington Post - By Glenn Kessler - Jul. 10 (Fact Check) - In 2010, Obama extended all of the tax cuts for two years, and now they are due to expire at the end of the year. He now proposes to extend the rate reductions — but to restore the pre-Bush tax rates on income above $250,000 for families and $200,000 for individuals. Even so, few people appear to realize that even the wealthy would continue to receive the benefit of the lower rates on income below $250,000, compared to the expiration of the law. In a 2010 study, the Tax Policy Center estimated that, in 2012, 97 percent of people making between $500,000 and $1 million — and nearly 93 percent of millionaires — would continue to receive a tax cut. For millionaires, the average tax cut would be nearly $28,000. However, the biggest share of the tax cuts — about 33 percent — would go to people making $100,000 and $200,000. (Note: the income figures in this chart are a bit of out of date; it also does not show the impact of Obama’s higher taxes in investment income in his health care law.)

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Fox News Has Tricked People Into Thinking Obama Is A Big Spender

Sat, 30 Jun 2012 00:00:00 -0700

businessinsider.com - Jun. 30 (Opinion) - Read it and weep conservitards.

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Obama’s Spending: ‘Inferno’ or Not?

Sun, 10 Jun 2012 00:00:00 -0700

FactCheck - By Brooks Jackson - Jun. 10 (Fact Check) - Is President Obama's spending an "inferno," as Mitt Romney claims, or a binge that "never happened" as an analysis touted by the White House concluded? We judge that both of those claims are wrong on the facts.

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OpEdNews - Article: End [Their Federal Reserve System = An Exclusive Banking Cartel]

Fri, 08 Jun 2012 00:00:00 -0700

Op Ed News - Jun. 08 (Opinion) -

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An Economy Built to Stall

Sat, 02 Jun 2012 00:00:00 -0700

Wall Street Journal - Jun. 02 (Editorial) - Well, this week makes it official. The weakest economic recovery since World War II has become weaker still, sinking into a spring slowdown for the third year in a row. Are we finally ready to debate a change in the policies that have led to this pass? On Thursday the government reported that growth in the first quarter was 1.9%, even weaker than the 2.2% initial estimate. Then Friday delivered the third slower jobs report in a row, which qualifies as a depressing trend. Employers created only 69,000 net new jobs in May, and April's total was revised down to 77,000 jobs. Stocks were crushed in the backwash.

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President Obama Should Seize the High Ground

Sun, 27 May 2012 00:00:00 -0700

New York Times - By Thomas Friedman - May. 27 (Opinion) - President Obama has quite a record of accomplishment to run on for re-election if he would only run on it. During a recent discussion in Seattle with a group of educators, one of them surprised me when she pointed out that even though their state did not win President Obama’s education “Race to the Top,” that program was critical in spurring education reform in Washington State. As I listened to her analysis, the thought occurred to me: I wonder how Barack Obama would do if he ran for president as himself. ... How he would do if he ran for re-election on all the things he’s accomplished but rarely speaks about.

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Europe debt crisis and jobs numbers to drive stocks

Sun, 27 May 2012 00:00:00 -0700

CNN - By Hibah Yousuf - May. 27 (News Report) - Memorial Day may mark the unofficial start to summer, but investors won't be getting any rest and relaxation during the coming week. Following a three-day weekend (U.S. markets are closed Monday for Memorial Day), uncertainty will continue to swirl over Europe, with the threat of Greece leaving the eurozone still looming.

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Europe’s rush to austerity will have severe consequences.

Sun, 13 May 2012 00:00:00 -0700

Slate - By Joseph E. Stiglitz - May. 13 (Opinion) - This year’s annual meeting of the International Monetary Fund made clear that Europe and the international community remain rudderless when it comes to economic policy. Financial leaders, from finance ministers to leaders of private financial institutions, reiterated the current mantra: The crisis countries have to get their houses in order,...

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Hollande Ousts Sarkozy in French Presidential Election

Sun, 06 May 2012 00:00:00 -0700

New York Times - By Steven Erlanger, Nicola Clark - May. 06 (News Report) - François Hollande swept into office on Sunday, becoming the first Socialist to be elected president of France since François Mitterrand left office in 1995. Mr. Hollande’s campaign promised a kinder, gentler, more inclusive France, but his victory over President Nicolas Sarkozy will also be seen as a challenge to the German-dominated policy of economic austerity in the euro zone, which is suffering from recession and record unemployment.

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