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Jared Bernstein

Economist Jeffrey Sachs Says NO to TPP and TAFTA Trade Deals

Roger Hickey | Posted 09.15.2014 | Politics
Roger Hickey

Without touching on the unpopular Fast-Track mechanism necessary to pass these two treaties, Sachs laid out five reasons why, on the substance, they should not be passed or ratified.

Whoa! Whassup with That Big Negative Q1 GDP Revision?

Jared Bernstein | Posted 08.25.2014 | Politics
Jared Bernstein

Real GDP contracted at a 2.9 percent rate according to revised data released on Wednesday. That's contracted, as in went down. So, are we back in recession?

"Jobs or Inequality"? That's No Choice at All

Richard (RJ) Eskow | Posted 03.04.2014 | Politics
Richard (RJ) Eskow

I would be dissatisfied with a society in which middle-class and lower-middle-class earners have no chance to better themselves. In my opinion, the opportunity for self-improvement is a fundamental human right. What's more, it's not just those individuals who lose out. When social mobility denied to any group, society loses a vast talent pool filled with people who could make things better for everyone.

New Year Reflections: The Character of the Task Before Us

David Coates | Posted 03.01.2014 | Politics
David Coates

The task before us in 2014 is nothing less than to find a route back to generalized prosperity amid the wreckage left in place by the collapse of the Reagan growth model and the rise of the globalized economy. The debate now underway about the relationship between full employment and income inequality is vital because progressives have to find -- and find quickly -- a set of economic policies that can credibly refute the sustained attempt by the GOP to take us back to the future. From conservative circles, we now face a coordinated campaign to intensify income inequality, to erode the welfare safety net, to undermine public services and to weaken still further already weak labor unions. For moral as well as for economic reasons, progressives have to challenge this conservative renaissance by developing a political program that explicitly and proudly combines job creation and inequality reduction, one that insists on greater income equality as the route to full employment.

Friday Talking Points -- Defending Populism

Chris Weigant | Posted 02.05.2014 | Politics
Chris Weigant

Welcome back (after we took last week off, to digest) to our Friday roundup! We should have two weeks of news to cover, but nothing much of anything strange or startling happened Thanksgiving week, so we're going to concentrate on just this current week.

Friday Talking Points -- Two Obama Promises

Chris Weigant | Posted 01.23.2014 | Politics
Chris Weigant

Although it's been a week heavy on Obamacare, we're going to (mostly) look forward this week, to the upcoming budget battles. Because buried in the Obamacare stories this week was one very important bit of news.

Jared Bernstein Tries to Reimagines Larry Summers As a Foe of the Bank

William K. Black | Posted 10.30.2013 | Business
William K. Black

Jared Bernstein was Vice President Joe Biden's chief economist and was the strongest economic voice within the Obama administration opposing inflicting austerity on the nation in response to the Great Recession.

Martin Luther King Worried About Economic Injustice

Harlan Green | Posted 10.29.2013 | Business
Harlan Green

Martin Luther King said the basis of disparities between the races had as much to do with income inequality as outright racism in his book, Why We Can...

Minimum Wage, Maximum Dissent

Ed Crego, George Muñoz and Frank Islam | Posted 08.17.2013 | Politics
Ed Crego, George Muñoz and Frank Islam

America has been tilting toward an economy that benefits primarily the 1 percent. For America to work we need an economy that benefits the 100 percent. Combining an enhanced EITC and minimum wage moves us in that direction.

The Audacity of Jobs

Ed Crego, George Muñoz and Frank Islam | Posted 04.16.2013 | Politics
Ed Crego, George Muñoz and Frank Islam

Some pundits assert that in doing so he was taking his eye off the ball. We would argue quite the contrary. Putting jobs and wages in the direct line of sight is exactly what needs to be done to move the economy forward in a manner that benefits the middle class and average Americans.

Alan Simpson: Quit Politicizing 'The Poor'

The Huffington Post | Ian Gray and Daniel Lippman | Posted 10.05.2012 | Politics

WASHINGTON -- Former U.S. Senator and co-chairman of President Barack Obama's deficit commission Alan Simpson told an audience Tuesday that politicia...

The Unconventional: The Political Conventions in Perspective

Ed Crego, George Muñoz and Frank Islam | Posted 11.11.2012 | Politics
Ed Crego, George Muñoz and Frank Islam

It appears the Democratic Party's convention in Charlotte produced a better one for Obama. As history has shown, the bounces don't matter very much -- Dukakis, Kerry and McCain each got substantial bounces after their conventions. You know the rest.

This Is Not Your Mother's Medicare: Part 1

Ed Crego, George Muñoz and Frank Islam | Posted 11.05.2012 | Politics
Ed Crego, George Muñoz and Frank Islam

We agree with Paul Ryan that we need a debate to determine how Medicare can be improved. What we do not need, however, is much of what passes for debate these days -- diatribes, finger-pointing, ad hominem attacks, and systematic presentations of misinformation.

Bain Capitol?

Ed Crego, George Muñoz and Frank Islam | Posted 08.07.2012 | Business
Ed Crego, George Muñoz and Frank Islam

Over the past few weeks, the main debate in the political arena has centered on what would it mean if Washington, D.C., became a Bain Capitol after the November elections. Would it be worse or better for job creation and the economy?

Why Do So Many Elites Hate Social Security?

Dave Johnson | Posted 06.11.2012 | Politics
Dave Johnson

This week there was another big attack on Social Security by another elite. This time the attack comes from a columnist. These attacks never come from people who depend on these programs (i.e. almost all of us.) Why do the privileged elites hate Social Security so much?

Jon Ward

Shift To Obama vs. Romney Marks End (Maybe) To Silly Season

HuffingtonPost.com | Jon Ward | Posted 04.06.2012 | Politics

WASHINGTON -- The news Thursday was dominated by Democratic accusations that the Republican National Committee chairman compared women to caterpillars...

Mother America Always Loved Manufacturing Most

Leo W. Gerard | Posted 04.28.2012 | Business
Leo W. Gerard

It's illogical, even unpatriotic to use tax dollars to subsidize companies that send jobs overseas, transferring America's manufacturing power to foreign countries like China.

Zach Carter

President Obama's New Financial Crimes Team Has Bank Ties

HuffingtonPost.com | Zach Carter | Posted 01.30.2012 | Politics

WASHINGTON -- President Barack Obama vowed during Tuesday's State of the Union Address to establish a new financial crimes unit dedicated to investiga...

Bonnie Kavoussi

Foreclosure Filings Fell Steeply In 2011, Little Consolation For Struggling Homeowners

HuffingtonPost.com | Bonnie Kavoussi | Posted 02.03.2012 | Business

Foreclosure filings fell dramatically last year, according to a report released Thursday. Several prominent economists said the news was a sign that t...

Ohio's Collective Bargaining Key to Becoming America's Heartland Again

Michael Shank | Posted 01.09.2012 | Politics
Michael Shank

Thanks to the U.S. tax, trade and labor policies of the last 30 years, the American heartland has suffered tremendously. Only now is Washington realizing how those policies have made it very difficult for most of America to simply "get by".

Float Like A Butterfly, Sting Like Ali

Jim Worth | Posted 11.05.2011 | Politics
Jim Worth

Obama's efforts are reminiscent of Ali's rope-a-dope strategy he employed in The Rumble In the Jungle in 1974 against George Foreman.

Money Is a Concept: Pain, Hip-Hop, and Economic Soul-Sickness

Richard (RJ) Eskow | Posted 10.16.2011 | Business
Richard (RJ) Eskow

These are disastrous times for millions of people, and our zero-sum money system can only enrich the few by bringing pain to the many. Can we build an economic policy out of our shared crisis and find a common purpose in its solution?

It's Not the "Administration's Debt Ceiling"!

Jared Bernstein | Posted 09.11.2011 | Business
Jared Bernstein

How many House Republicans can John Boehner drag along at the end of the day to support a budget deal that will have at least some revenues? Team Obama/Biden, to their credit, have never wavered on this, and that matters. They can't get their caucus behind them without revenues in the deal, because, as the president pointed out yesterday, no revenues would mean putting everything on the spending side of the ledger, and that would do far more harm than good, both to the economy and to the people in it. So, as has been the case all along, the debt ceiling negotiation all comes down to a numbers game, and I don't mean dollars, I mean votes.

The Housing Crisis: How to Reach Escape Velocity

Preeti Vissa | Posted 08.29.2011 | Business
Preeti Vissa

One of the biggest is the investors who actually own the bulk of mortgages. What's missing from that line of thinking is the effect on the overall economy.

Getting to a Trillion

Jared Bernstein | Posted 08.29.2011 | Politics
Jared Bernstein

If revenues are to be in the budget package now being negotiated they will almost surely come from cutting tax expenditures. Those are the one trillion worth of tax revenues forgone each year due to tax breaks for various activities in the code.