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The Lights Are Out in WashingtonDean Baker / July 26, 2010
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Alternativas a la austeridad fiscal en EspañaMark Weisbrot and / July 26, 2010
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No Convincing Economic Arguments Against Further Stimulus SpendingMark Weisbrot / July 26, 2010
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Reporters Say the Darndest Things: CNN and Per Capita GDPDean Baker / July 25, 2010
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The Washington Post Confuses Supporters of Lower Pay for Auto Workers With Supporters of the Free MarketDean Baker / July 25, 2010
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Another Front Page Editorial on Deficits at the Washington PostDean Baker / July 24, 2010
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Goldman Sachs Finds Cutting Government Spending Slows Growth, Post Columnist Michael Gerson Says OppositeDean Baker / July 24, 2010
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Never Mind: America Speaks AgainYes Saturday Night Live fans, Emily Litella is back! For those too young or too old to remember, Emily Litella was the frumpy commentator on Saturday Night Live’s “Weekend Update.” She would go invariably go into a tirade over some misunderstood word or phrase. Ms. Litella would then be corrected by Jane Curtin, the news show’s impeccably dressed anchor (e.g. that’s endangered “species,” not feces), and then conclude with, “never mind.”
It appears that Ms. Litella has been reincarnated in the form of America Speaks. America Speaks is an organization that was funded by the Peter G. Peterson Foundation to host a series of town halls around the country to discuss the country’s long-term budget problems. The format was rigged so as to force people to support cuts to Social Security and Medicare.
For example, America Speaks told participants that health care reform was off the table so that the only way to save budget dollars was to cut back programs like Medicare and Medicaid. So that participants would not get ideas about taxing Wall Street, the America Speaks budget booklet underestimated the revenue potentially available from a tax on financial speculation by an order of magnitude.
In spite of the rigged deck, the event did not turn out quite as planned. Progressive national organizations like the Campaign for America’s Future and Moveon.org, along with many state level groups, worked to get supporters at the town halls. As a result, cutting Social Security and Medicare proved to be relatively unpopular routes for reducing the deficit, whereas cutting defense spending and higher taxes on the wealthy and Wall Street proved quite popular.
CEPR / July 23, 2010
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Ansel Herz: "How to Write About Haiti"Jake Johnston / July 23, 2010
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The Fed Can Just Hold Mortgage Backed Securities, Reducing Interest BurdensDean Baker / July 23, 2010
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Gates Can't Build Every Weapon System in Sight and Still Meet the Rising Defense Budget: Where is the Paradox?Dean Baker / July 23, 2010
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Alternatives to Fiscal Austerity in SpainMark Weisbrot and / July 22, 2010
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IMF Cancels Debt but New Loan Raises New Questions“The IMF is taking two steps forward and one step back. This is a precedent-setting moment as the IMF has agreed to use internal resources to cancel the debt of a country facing extraordinary need. But, unfortunately, this good news is undermined by the IMF’s new loan. The role of the IMF in Haiti has been long criticized, and this new loan could set Haiti on the wrong path toward a new cycle of debt. The IMF must go further by using its new Post-Catastrophe Trust Fund to provide assistance on grant terms and ensure that this comes without harmful conditions,” says [Eric] LeCompte [Executive Director of Jubilee USA Network].
Jake Johnston / July 22, 2010
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Businesses Are Not Hiring Because of a Lack of Demand, Not ConfidenceDean Baker / July 22, 2010
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Post Headline Declares Obama Winner With Chamber of CommerceDean Baker / July 22, 2010
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Small Business: The Source of the Vast Majority of Job LossesDean Baker / July 22, 2010
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Haiti: From Bad to Worse, Because of Policy DecisionsYesterday the CEP, the Provisional Elections Commission, reiterated a decision made in 2009 to exclude Fanmi Lavalas, the party of exiled president Aristide, from this year's legislative elections that were originally scheduled earlier this year but postponed. Although not to the extent of giving out medals, the UN proclaimed last year's elections that also excluded Fanmi Lavalas and where almost no one voted, a success.Meanwhile, the gaps between rich and poor have only become starker. While hundreds of thousands are fighting for cash-for-work jobs:
Haiti's educated middle class, Diaspora, and foreign consultant zoom by in new air-conditioned cars, some making as much as $1000 per day. Some foreign aid workers even stayed at the "Love Boat" - a U.N. ship costing $112,500 per day, or the price of 100 "T-shelters."
Jake Johnston / July 21, 2010
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The New York Times Doesn't Like the Welfare State in the UKDean Baker / July 21, 2010