It is ridiculous to measure benefit cuts against a baseline that assumes an extremely unlikely possibility will occur. What is more, Spandan's policy priorities were straight out of the austerity playbook. In effect, he said: "To avoid cutting benefits later, cut benefits now." How about just avoiding cuts altogether?
The message to Congress is simple: Adapt. Figure it out. Make the tough choices. It's what business owners do every day, and it's what Americans have done for centuries.
the GOP's faith in the power of tax cuts has become more intense in the face of mounting evidence that the supply-siders were simply wrong when they predicted that rate cuts would produce economic growth and reduce the deficit.
To help high school students better understand the underlying economic issues I prepared a "mock debate" between Alan Greenspan and Paul Krugman.
Despite such terminology as "fiscal cliff" and "debt ceiling," the great debate taking place in Washington now has relatively little to do with financial issues. It is all about ideology. It is all about economic winners and losers in American society.
This week's Big Ups go to a people speaking up for a change, a young girl with warrior strength, and the return of a bunch of turn of the century British snobs to my living room.
Getting your finances into shape can appear daunting. Breaking it down into categories can help simplify the process. There are five main categories that everyone should tackle.
President Obama and his talented foreign policy team must explain to fellow leaders, in particular their European friends, and the international public at large, what the administration intends to do to avoid the return of the threat of the fiscal cliff
Enshrining self-interest as the sole generator of wealth has enabled the wealthiest to keep 'their' wealth, via the divine protection of an 'invisible hand.'
What characterizes American government today is not so much dysfunctional politics as it is ruthlessly contrived governance carried out behind the entertaining, distracting and disingenuous curtain of political theater.
The fiscal-cliff deal was far from perfect -- but don't sniff at a serious surrender from the GOP. ...
We know we have a social contract. Reasonable people can disagree on how much government is responsible for that contract versus the private sector. That someone has to be, however, is not in dispute. That we have to pay for it shouldn't be either.
While Newt Gingrich represents much that has been wrong with the Republican party for the last 20 years -- and is as responsible as anyone for the extreme partisanship in Washington today -- he has clearly learned some lessons from the past.
At some point, it will matter if Little Dude understands how money works, but it didn't have to be today.
It should be obvious from these two extremes that what we really need is a system that is fluid while being disciplined, expansive without being prodigal, and one that employs a carrot along with the stick to move the U.S. back towards economic sanity. The trillion dollar question is: Does such a system exist?
With many cliffs looming in the future, it will take a crisis every time to provoke both sides to reach a deal, and the deals are likely to be incremental. But that's okay, because the national will needs time to shift.