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US Deficit

Overheated

Neil McCarthy | Posted 09.24.2013 | Business
Neil McCarthy

We have turned economics into a morality play. Austerians share a visceral contempt for government deficits. They do not just think deficits are bad as a matter of policy; they think deficits are bad, period. But anyone with a cursory knowledge of economic history rejects this narrative.

Summers: U.S. Shouldn't 'Obsess Over' The Deficit

Reuters | Posted 03.24.2013 | Business

By Lawrence Summers Jan 22 (Reuters) - Since the election, American public policy debate has been focused on prospecti...

The Debt Ceiling Is Not The Way To Control The National Debt

Tara Sinclair | Posted 03.22.2013 | Politics
Tara Sinclair

The U.S. government has never defaulted on its legal obligations. We should make sure that this never happens. That means being careful about the national debt, but it also means not being stupid about a debt ceiling that can simply be raised or removed in order to avoid certain default.

Pander Bears

Robert Kuttner | Posted 12.21.2012 | Politics
Robert Kuttner

We have plenty of debate on whose budget numbers are fishy (Romney's) and on whether to bring about deficit reduction by slashing social spending to pay for even more tax cuts (Romney) or whether to have a mix or budget cuts and tax increases on the wealthy (Obama.) Of the two positions, Obama's is both the more sensible and intellectually honest. But the Democrats are mistaken when they argue that the deficit needs to be cut any time soon. With the economy weak, we certainly don't need $2 trillion in spending cuts as Obama proposes; if anything, we need more stimulus spending.

Dean Baker On Obama's Debate Performance: Obama Is 'Paying The Price' For Earlier Mistakes

The Huffington Post | Saki Knafo | Posted 10.04.2012 | Politics

To no one's surprise, much of Wednesday night's debate focused on the country's trillion dollar deficit. The Republicans and some Democrats have h...

The Tomb Is Sealed

Jared Dillian | Posted 12.14.2011 | Business
Jared Dillian

Few people understand that to balance the budget, or even to bring down the deficits to the rate of growth would require cutting the size of government by at least half and/or nearly eliminating entitlements. It really is true.

Transparency -- The First Step in a Government Revolution

Dag Detter | Posted 12.03.2011 | Business
Dag Detter

The current financial crisis is a unique opportunity to challenge the vested interests wanting to preserve the poor performance of the past and keeping these assets away from scrutiny.

Lobbyists Take Aim At Super Congress

Posted 11.16.2011 | Politics

WASHINGTON, September 16 (Reuters/Tim Reid) - The special "super committee" tackling U.S. deficit reduction was meant to operate independently and...

A Bid to Boost U.S.-China Relations

Jayshree Bajoria | Posted 10.17.2011 | World
Jayshree Bajoria

Joe Biden's visit marks the first time a senior U.S. official will spend a substantial amount of time with China's president-in-waiting. "We're investing in the future of the U.S.-China relationship."

S&P Puts U.S. Credit Ratings On Negative Watch

Posted 09.13.2011 | Business

(Reuters) - Ratings agency Standard & Poor's has warned there is a one-in-two chance it could cut the United States' prized triple-A rating if a d...

U.S. Put On Review For Possible Rating Downgrade

Posted 09.12.2011 | Business

Because of the "rising possibility" that Congress will not soon approve a deal to raise the debt limit, Moody's Investors Service has reportedly put t...

Titanic Economics

David M. Abromowitz | Posted 09.08.2011 | Politics
David M. Abromowitz

The choices being made today by leaders in Washington will determine if the titanic U.S. economy stays afloat or sinks further underwater. Choices that tilt in favor of the wealthy would come at the expense of those who are most vulnerable.

Budget Talks Put Dems Over a Barrel (Again)

Rick Horowitz | Posted 08.29.2011 | Politics
Rick Horowitz

[After hours, just a short walk from the Capitol...] "We're gonna do it again -- I can feel it." "Do what again?" "What we always do -- we're g...

Will Interest Rates Go Lower?

Don McNay | Posted 08.28.2011 | Business
Don McNay

The common assumption is that interest rates are going to go higher. Just like the common assumption, for many years, that you couldn't lose in the real estate market. Sometimes we have to consider the unconsiderable.

Why AARP's Support for Social Security Cuts Matters

Daniel Marans | Posted 08.22.2011 | Politics
Daniel Marans

If AARP was so intent on keeping Social Security out of deficit discussions, then why had they signaled their willingness to make a deal now, in the midst of the debt-ceiling negotiations?

The Extinction of Retirement

Michael Pento | Posted 08.17.2011 | Business
Michael Pento

For many Americans, the traditional idea of a comfortable retirement filled with golf carts, cruises and fishing trips is going the way of the dodo bird.

The Tea Party Fiscal Flip Flop(s)

Stephen Herrington | Posted 07.25.2011 | Politics
Stephen Herrington

When the 2011 federal budget was being bludgeoned into it's final form, the Republicans/Tea Party screamed that continued borrowing would raise the co...

Peter Peterson and the Deficit Ostriches

Dean Baker | Posted 07.23.2011 | Business
Dean Baker

It is ridiculous to be spending so much time yelling about the deficit at a time when 25 million people are unemployed, underemployed or out of the work force altogether.

America's Creditors: Which Countries Own Most Of Our Debt?

The Huffington Post | Yepoka Yeebo | Posted 05.25.2011 | Business

New Treasury figures have revealed that some surprising countries own U.S. debt. By the end last year, foreign governments held around $4.4 trillion ...

Geithner Says U.S. Could Hit Debt Limit By March 31

Posted 05.25.2011 | Business

WASHINGTON (By David Lawder and Glenn Somerville) - The United States may hit the legal limit on its ability to borrow by March 31 and faces serious ...

Moody's Warns On U.S. Credit Rating After Tax Cut Deal

Posted 05.25.2011 | Business

NEW YORK - Moody's warned on Monday that it could move a step closer to cutting the U.S. Aaa rating if President Barack Obama's tax and unemployment ...

The World Says No to America's Monopoly Money

Eric Margolis | Posted 05.25.2011 | Politics
Eric Margolis

Last week's rolling economic summits in South Korea and Japan may well mark the beginning of the end of the dominance of the US dollar, which has ruled world finance and trade since 1945.

It's the Dollar, Stupid

Georges Ugeux | Posted 05.25.2011 | Business
Georges Ugeux

Behind the currency debate lies a somber reality. Most of China's exports are the result of the relocation of production outside of the U.S. -- it is American corporations that fuel the balance of payment deficit.

Krugman: Bush Tax Cut Debate Is Proof Of Our 'Dysfunctional And Corrupt Political Culture'

nytimes.com | PAUL KRUGMAN | Posted 05.25.2011 | Business

What's at stake here? According to the nonpartisan Tax Policy Center, making all of the Bush tax cuts permanent, as opposed to following the Obama pro...

Microsoft's Actions Show America's True Colors in China

Ann Pettifor | Posted 05.25.2011 | World
Ann Pettifor

American consumers and corporations like Microsoft have helped create China's massive surplus by investing in China, or by spending their incomes buying Chinese and other Asian goods.