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Fix the Debt

Money Can't Buy Them Love

Robert Kuttner | Posted 02.08.2013 | Politics
Robert Kuttner

It is literally possible to have more money than you know what to do with. Take the case of the private-equity billionaire Peter G. Peterson, who has bankrolled much of the austerity crusade. Peterson has now spent over half a billion dollars out of his personal fortune to persuade Americans that austerity is the necessary road to recovery. But the debate seems to be getting away from him. Peterson was heavily involved in the corporate-led group, "Fix the Debt." That effort has increasingly backfired. In Peterson's world, CEO spokesmen are a source of great credibility. But out in America, it doesn't looks so good when the millionaire CEOs who cut jobs and pay low rates of taxes lecture others to tighten their belts.

Villaraigosa Fires Back At His Critics

The Huffington Post | Kathleen Miles | Posted 12.07.2012 | Los Angeles

LA Mayor Antonio Villaraigosa responded defensively to the backlash he's received for signing onto the Republican-leaning Campaign to Fix the Debt on ...

Antonio Villaraigosa Defends 'Fix The Debt' Association

The Huffington Post | Arthur Delaney | Posted 12.06.2012 | Los Angeles

WASHINGTON -- Los Angeles Mayor Antonio Villaraigosa defended his association Wednesday with Campaign to Fix the Debt, an ostensibly bipartisan group ...

The Republican "Bubble" Is Yet to Be Popped

Joseph A. Palermo | Posted 02.03.2013 | Politics
Joseph A. Palermo

Before the liberals write the GOP's obituary it would be wise to acknowledge the role other "bubbles" play in inventing new and ingenious ways to get people to vote against their own self-interests. Rather than one all-encompassing "bubble" that hermetically seals the Republicans inside their media universe, there's no shortage of other equally important bubbles that serve corporate power. These bubbles often overlap in influence and personnel and still possess the awe-inspiring ability to persuade public opinion on the problems of greatest magnitude facing the United States today. Although it was amusing on election night to see Karl Rove on Fox News refuse to accept the reality of President Obama's Ohio victory, we shouldn't be too quick to draw totalizing conclusions from the Democratic victories.

Christina Wilkie

WATCH: Nonprofit Employee Attacked By Fix The Debt Panelist | Christina Wilkie | Posted 12.05.2012 | Politics

WASHINGTON -- A conservative scholar at the Heritage Foundation, Edmund F. Haislmaier, attacked a nonprofit employee Tuesday morning in a hotel where ...

GOP Senator's Speech Derailed By Protesters

The Huffington Post | Nick Wing | Posted 12.04.2012 | Politics

Sen. Rob Portman (R-Ohio) was shouted down by a large group of demonstrators Tuesday, temporarily preventing him from delivering an address at a "Camp...

'Fix the Debt' Shows Its True, Billionaire-Funded, Anti-Tax Colors

Richard (RJ) Eskow | Posted 02.02.2013 | Politics
Richard (RJ) Eskow

"Fix the Debt" is allegedly an impromptu alliance of America's largest CEOs. But it' really the latest manifestation of a perenially right-wing, pro-billionaire, pro-corporate lobby -- one created years ago by hedge fund manager and former Nixon Cabinet member Pete Peterson.

The Serious People Are on the War Path

Dean Baker | Posted 02.02.2013 | Business
Dean Baker

At a time when tens of millions of people are still unemployed, underemployed or out of the labor force altogether as a result of the fallout created by the collapse of the housing bubble, in Washington it is serious to argue that our biggest problem is that custodians at the VA hospitals are getting paid too much.

Paul Blumenthal

Centrist Group Masks GOP Backing | Paul Blumenthal | Posted 12.03.2012 | Politics

WASHINGTON -- Members of the influential Campaign to Fix The Debt struck a posture of post-partisan political neutrality this past week, as they swarm...

Fiscal Cliff Hypocrisy: Goldman Sachs Edition

The Huffington Post | Mark Gongloff | Posted 11.29.2012 | Business

We've said it before, and we'll say it again: There is no reason to care what corporate CEOs think about the budget deficit, because they are hypocrit...

The 'Fiscal Cliff' Deal Is Wall Street's Latest Scam

Richard (RJ) Eskow | Posted 01.28.2013 | Politics
Richard (RJ) Eskow

It's like a Woodstock for plutocrats, or an Avengers for the avaricious: The CEOs of America's largest corporations have banded together to lecture us on the importance of debt reduction. And despite their lack of qualifications and their very obvious self-interest, the media can't get enough of them.

Goldman Sachs CEO Lloyd Blankfein Wants Seniors to Get Less

Ethan Rome | Posted 01.27.2013 | Business
Ethan Rome

In the name of "fiscal responsibility," the self-interested CEOs animating Fix the Debt are pushing a deficit reduction plan that would lower taxes for corporations and the super-rich while slashing programs central to the middle class and those working their way into it.

Revealed: New Details On Obama's Fiscal Cliff Meeting Tomorrow

The Huffington Post | Nate Hindman and Jillian Berman | Posted 11.28.2012 | Business

Macy's CEO Terry Lundgren and Doug Oberhelman, CEO of Caterpillar will be among the top executives meeting with President Barack Obama on Wednesday as...

Zach Carter

Lobbyists Push For Tax Breaks For Wealthy In Fiscal Cliff Debate | Zach Carter | Posted 11.27.2012 | Politics

WASHINGTON -- As negotiations to avert the so-called fiscal cliff intensify, corporate lobbying groups are pushing key tax perks that benefit the weal...

Still 'No Clarity' On Big Deal Despite Progress

Reuters | Posted 01.27.2013 | Politics

* Obama, small business leaders meet, discuss 'cliff' * No Obama meeting with congressional leaders in sight ...

The Fiscal Cliff: Maintaining a Circle of Protection for Children, Hungry People and the Poor

Eva M. Clayton | Posted 01.21.2013 | Politics
Eva M. Clayton

If we spend less on school lunches and food stamps to make the numbers add up on an Excel spreadsheet, we will indeed pay much more with poor performance in school and chronic health issues later.

'Fiscal Cliff' Fearmongers Mimic Mitt Romney

Ethan Rome | Posted 01.20.2013 | Politics
Ethan Rome

Although the election is behind us, the Republicans and Corporate America have rolled out a front group that's promoting the proposals of failed GOP presidential candidate Mitt Romney as a way to resolve the fiscal showdown.

Open Letter to President Obama: Election Mandate to Govern for the Common Good of 99%, Not the Greed of 1%

Michele Swenson | Posted 01.15.2013 | Politics
Michele Swenson

The "Grand Bargain" promoted by Wall St. is in reality the "Great Betrayal" of the people who elected you. You, not Republicans, won a mandate to stand for people.

'Fix the Debt' CEO Dream Team Wants You to Be as Scared as They Are of the Fiscal Cliff

Jeff Palmer | Posted 01.06.2013 | Politics
Jeff Palmer

The reality is that the current system of taxation created by Ronald Reagan and put on steroids by George W. Bush is working quite well for Pete Peterson and his fellow oligarchs.

The Fiscal Cliff and the Political Chasm

Robert Kuttner | Posted 09.21.2012 | Politics
Robert Kuttner

For more than a decade, deficit hawks and their allies in the media have been promoting a grand bargain whereby Republicans agree to tax hikes and Democrats agree to cut social programs like Social Security and Medicare. That, in turn, will put the deficit on a downward path and presumably restore economic growth. The trouble with this premise is that the current deficit is mainly the result of the recession itself plus the Bush tax cuts and military spending increases. It has nothing to do with Social Security; the projected increases in Medicare spending are only the result of failure to tackle deeper health care reform.