Search Results

September 3

What you need to know to navigate today’s most critical debates.

How to End the Great Recession (NYTimes)
Robert Reich writes that after the bursting of the debt bubble, the only way forward is through shared prosperity.

White House considers pre-midterm package of business tax breaks to spur hiring (WaPo)
The administration will possibly, maybe, push for a payroll holiday, R&D credit, or some other uncontroversial measure before November. Feel that momentum shift!

The Real Story (NYTimes)
Paul Krugman notes that critics who warned that the stimulus was too small have been vindicated. Will President Obama learn the right lesson? See above.

Why the Stimulus Ran Out of Steam (The Atlantic)
Joshua…

Marshall Auerback on BNN: More and Better Fiscal Policy, Please

Last Sunday, Roosevelt Institute Senior Fellow Marshall Auerback offered his take on Ben Bernanke’s speech at Jackson Hole and concluded that the Fed chairman was still underestimating the need for active fiscal policy.  In an interview with BNN’s Andrew Bell, Marshall elaborates on that argument and explains what needs to be done to get the economic recovery back on track.

Marshall says that Bernanke’s speech contained “a few rare glimpses of honesty” about the limited power of central banks and monetary policy, but he is frustrated by Bernanke’s continued attempts to downplay fiscal policy options.  He notes that countries like Australia and Canada, which…

September 1

What you need to know to navigate today’s most critical debates.

Record number in government anti-poverty programs (USA Today)
As the recovery stalls, one in six Americans are relying on our public safety nets.

Will we ever recover from the financial crisis? (WaPo)
Ezra Klein highlights a study of the aftermath of severe financial crises that may make you regret getting out of bed today.

Tax Cuts Weighed to Spur Economy (WSJ)
President Obama’s economic advisers are considering business and payroll tax cuts and new infrastructure spending, but expect (surprise!) Republican obstruction.

Tax Cuts That Make a Difference (NYTimes)
David Leonhardt writes that tax cuts aren’t a long-term solution to America’s economic…

Surprise, Surprise! Ben Bernanke Discovers the ‘Paradox of Thrift’ (Sort Of)

When consumers are trying to save, the government must step in to create growth.  That’s going to require smart and imaginative fiscal policy.

That “central bankers alone cannot solve the world’s economic problems” was the most extraordinary concession to come out of the mouth of Federal Reserve Chairman Ben Bernanke during last Friday’s speech at the Jackson Hole Economic Symposium.

Of course, he’s right, but, rather than acknowledging that fiscal policy is the most effective counter-stabilisation tool available to national governments, Bernanke still trumpets the idea that monetary policy is the only game in town. Despite huge efforts by the Fed to stimulate…

August 18

What you need to know to navigate today’s most critical debates.

The Unnecessary Fall (TNR)
John Judis argues that Barack Obama could have spared himself and his party a lot of grief by embracing the populist approach that presidents like FDR understood so well.

Rebuilding the Democratic brand with jobs (WaPo)
Harold Meyerson suggests that Democrats can still work their way back into voters’ good graces by investing in infrastructure and manufacturing jobs.

Given Money for Rehiring, Schools Wait and See (NYTimes)
Though Congress recently approved $10 billion in aid to school districts, the bulk of the money is being saved to prevent future layoffs rather than spent to…

August 17

What you need to know to navigate today’s most critical debates.

Economists See Increased Chance of Double-Dip Recession (HuffPo)
While our leaders are busy arguing about mosques, the economy is once again on the brink of disaster.

A Bleak View (Fed Watch)
Tim Duy explains why it’s time to get worried.

Why Theoclassical Economists Fail as Regulators (Benzinga)
ND20 contributor Bill Black examines how faith-based economic theory encourages fraud and blinds regulators to sensible solutions.

Ben Bernanke: Wall Street’s Servant (HuffPo)
Dean Baker argues that the Fed’s policies are completely understandable once you realize that they’re not working for the American people.

To Regulate or Bribe? That is the Key Economic Question —…

August 13

What you need to know to navigate today’s most critical debates.

Elizabeth Warren, likely to head new consumer agency, provokes strong feelings (WaPo)
Amid speculation that her nomination is imminent, Brady Dennis examines Warren’s background and her evolving views on economic justice.

Chris Dodd, Top Democrat, Fights Against Elizabeth Warren (HuffPo)
The retiring senator remains the only Democrat to publicly oppose Warren’s nomination, but he seems determined to hold his ground.

Paralysis at the Fed (NYTimes)
Paul Krugman recalls a withering critique of the Fed’s current policies offered by some fellow named Ben Bernanke.

Social Security saved Dan Maes (but Ken Buck hates it!) (Salon)
Joe Conason notes that the Tea Party’s…

Book Notes: Ramos’ A Country for All

What can immigration reform do for you?

Jorge Ramos, author of A Country for All: An Immigrant Manifesto, wants you to know how reforming our immigration system will benefit all Americans, not just the recently immigrated. He builds an argument meant to convince the skeptics that they should care, too. In his list of ten reasons for why the US should focus on immigration reform, half of them appeal to the self interest of the reader: because immigrants are an asset to the US economy; because they support our workforce; because the border fence is ineffective and a waste of money;…

The Real Reason Banks Aren’t Lending

Banks won’t lend until the American people are creditworthy again — and that takes full employment.

Our Treasury Secretary has conceded that it is still a “tough economy” for most Americans, and warned it’s possible the unemployment rate will go up for a couple of months before it comes down. Given the constellation of recent economic data that has come out, Tim Geithner is probably correct.

The US economy is showing signs of slowing, as the fiscal stimulus is dissipating and spending contractions at the state and local government level increasingly undermine the injections from the federal sphere. Worse, it appears that much…

July 22

What you need to know to navigate today’s most critical debates.

Obama signs financial overhaul into law (WaPo)
Two years after the worst financial crisis since the Great Depression, Democrats have set new rules of the road for Wall Street.

Fannie Subpoenas to Show $30 Billion Bad Mortgages, Rosner Says (Bloomberg)
ND20 contributor Josh Rosner reveals that Fannie Mae and Freddie Mac’s regulator may identify as much as $30 billion of debt included in mortgage bonds that the companies can force sellers to repurchase.

Wall Street Reform: 5 Key Fights After the Bill is Signed (HuffPo)
AlterNet’s Zach Carter argues that Congress still has to break up the banks,…