Showing posts with label defict. Show all posts
Showing posts with label defict. Show all posts

Friday, March 22, 2013

Selling The Lie: Marginalizing Critics Worked for Iraq, And Now It's Working for the Deficit

Beware of people who shut down debate and attack critics.  They're almost certainly lying and working a con job.

Remember this? And this?

David Atkins at Hullabaloo:

To truly learn the lesson of Iraq is to ask oneself what critical policy issue of the day carries the same force of conventional wisdom and marginalization of contrarian voices. What issue of the day is incredibly divisive among normal American people, but has nearly unanimous consensus in the Beltway? What contrarian belief on a matter of major policy earns the same quiet, amused contempt from centrists and conservative Democrats? What policy disagreement earns the outraged ire of conservatives normally designated for enemies of the state? On what subject is it allowed for straight journalists to unequivocally state support for a policy position without the need for a credible opinion from the opposing side? On what topic would a Nobel-prize-winning expert on the subject in question be mocked in person on television by a panel of low-rent pseudo-journalists and failed former Congressmembers as if he had called the moon landing a hoax? On what public policy does the widely accepted conventional wisdom in Washington also very neatly align with the interests of influential corporations and the world's wealthiest individuals?
I speak, of course, of the bipartisan march toward deficit reduction and the bizarre exclusion of Keynesian or countercyclical solutions from acceptable discourse on the economy. It's not the only issue of its kind, but it's the most important.
Make no mistake: find the major issue that creates this uncomfortable dynamic, and you will find the new Iraq. In 2003 it was foreign intervention. In 2013, the issue on which conventional wisdom is so neatly aligned against all reason is deficit reduction. In 2023 it will likely be something else.
But the real lesson of 2003 has far less to do with the rush to war in the Middle East, and far more to do with the rush to exclusionary conventional wisdom among the Very Serious People in Washington.
From Lawyers, Guns and Money:
A very useful compilation of the vicious attacks people who were right about the war were consistently subjected to.

Saturday, February 9, 2013

Fight the Austerity Lies

The evidence - nay, proof - that austerity kills is now overwhelming, but that has just made the austerity hysterics more determined to turn the middle class into serfs for the parasite rich.

Zandar:

Paul Krugman once again brings up the fact that every country that has tried austerity to get out of the Great Recession is still back in recession six years later.
At one level this is kind of funny: austerity policies have been applied all across Europe, yet the best example of success the austerians can come up with is a nation with fewer inhabitants than, say, Brooklyn. Still, the International Monetary Fund recently issued two new reports on the Latvian economy, and they really help put this story into perspective. 

To be fair to the Latvians, they do have something to be proud of. After experiencing a Great-Depression-level slump, their economy has experienced two years of solid growth and falling unemployment. Despite that growth, however, they have only regained part of the lost ground in terms of either output or employment — and the unemployment rate is still 14 percent. If this is the austerians’ idea of an economic miracle, they truly are the children of a lesser god. 

Oh, and if we’re going to invoke the experience of small nations as evidence about what economic policies work, let’s not forget the true economic miracle that is Iceland — a nation that was at ground zero of the financial crisis, but which, thanks to its embrace of unorthodox policies, has almost fully recovered. 

So what do we learn from the rather pathetic search for austerity success stories? We learn that the doctrine that has dominated elite economic discourse for the past three years is wrong on all fronts. Not only have we been ruled by fear of nonexistent threats, we’ve been promised rewards that haven’t arrived and never will. It’s time to put the deficit obsession aside and get back to dealing with the real problem — namely, unacceptably high unemployment. 
So how to fight the austerity lies?

Digby:
Bob Borosage has a good piece of advice about how to deal with our coming austerity battles:
Mass unemployment, declining wages, and faltering growth suggests the United States has already suffered too much austerity, too soon. And yet the political debate is focused on how much more to impose. Washington imposed $1.5 trillion in spending cuts over 10 years in the 2011 “debt ceiling” deal. Washington stumbled past the year-end “fiscal cliff” with a deal that featured about $600 billion in tax hikes over ten years, including returning rates for the richest Americans back to Clinton era levels, and ending the payroll tax holiday, adding 2 percent to every working family’s payroll tax rate.

Now Congress has created an even more precarious fiscal peril to extort even greater cuts. Between now and the middle of May, we’ll hit the debt ceiling again, the automatic cut (sequester) of military and domestic budgets for the remainder of the year will kick in, and the temporary appropriations for government will expire. This sets up a new negotiation to forestall these ruinous calamities, now with Social Security, Medicare and Medicaid directly targeted.

The leaders of both parties suggest that more deficit reduction is needed and that it would help the economy. Not surprisingly, polls suggest that most Americans believe that cutting spending will help the economy, not harm the recovery. The reality is that spending is not out of control, the deficit is already plummeting, and we should be focused on fixing the economy to make it work for working people, not on austerity driven by wrong-headed deficit hysteria.

Here’s how we can make the case against it.

Start with the struggles families are facing. The budget debate now underway in Washington, focused on “fixing the debt,” misses the point. Americans are still suffering record levels of long-term unemployment. Poverty has risen to a level unseen in generations. Inequality is at new extremes. Wages are at the lowest percentage of the economy on record, while corporate profits are at the highest. We should be focused on fixing our economy.

Challenge the austerity myth. And here’s the real deal. You can’t fix the economy by “fixing the debt.” Cutting spending now will only slow the recovery, put more people out of work – and as we have seen in Europe, end up adding to our debt burdens.

In fact, fixing the economy is the necessary first step in getting our books back in order. Our deficits are largely due to the recession, with the costs of unemployment and the lost revenue from the loss of jobs. In these conditions, the best deficit reduction program is to put people back to work.

Even the slow growth we’ve witnessed has begun to reduce our deficits as jobs have been created. Despite all the hysteria, deficits are down by 25% compared to the economy, according to the Congressional Budget Office. They are falling faster than anytime since the demobilization at the end of World War II. And our debt level is basically stabilized for the next decade. More austerity – whether balanced between taxes and spending as the president calls for or focused just on spending cuts as Republicans suggest – will only serve to slow growth, cost jobs, and impede the recovery needed to get our books back in shape.

Worse, the austerity debate is now focused on whacking at the basic pillars of family security – Social Security, Medicare and Medicaid. The cuts under discussion – slowing the inflation adjustment for Social Security, raising the eligibility age for Medicare or the retirement age for Social Security — would harm the most vulnerable in our society.

Describe the way out. Fixing our economy requires a very different agenda than mindless cuts. We need to invest in areas vital to our future, and stop squandering resources on things we don’t need and can’t afford. End the wars abroad, bring our troops home, and invest the savings in rebuilding America – putting people to work while modernizing our decrepit infrastructure, from roads and rail to broadband and the electric grid.

End the subsidies and tax breaks to big oil companies and invest the resources in research and development to capture a lead in clean energy and the green industrial revolution sweeping the country.

Crack down on global tax havens, tax Wall Street speculation, tax investors at the same rate as workers, and use that income to provide every child with the opportunity to learn, from universal preschool to affordable college.

Lift the minimum wage, empower workers to gain a fair share of the profits they help to generate and curb perverse CEO compensation schemes that give them million-dollar incentives to ship jobs abroad.

And fix the sole source of our projected long-term debt problems – our broken health care system. Don’t cut benefits for Social Security, Medicare and Medicaid. Instead, take on the insurance and drug company lobbies that have made our health care cost nearly twice what the rest of the industrial world pays.
 The national budget is just about the polar opposite of your family budget: a recession demands the government spend more, not less.

The facts about austerity are counter-intuitive, so we have to fight harder to beat down the lies.

Saturday, November 10, 2012

"Fiscal Cliff" Biggest Lie Since "Romney's Winning"

No wonder Mitch McConnell peddles them both.

James Carroll at the Courier:

Ahead of a meeting with President Barack Obama next week, Senate Minority Leader Mitch McConnell, R-Ky., signaled Friday that he is not willing to compromise to permit a tax increase on the wealthiest Americans.

Obama said Friday that a legislative package to avert automatic deep federal budget cuts and an increase in taxes on all Americans should include higher taxes on upper incomes.


“If we’re serious about reducing the deficit, we have to combine spending cuts with revenue — and that means asking the wealthiest Americans to pay a little more in taxes,” the president said in remarks at the White House.


Although Obama outlined a plan to avoid the so-called “fiscal cliff,” McConnell responded to the president by insisting the White House was not offering details.
Yes, shame on President Obama for peddling the fiscal cliff lie, too.

The best possible thing that could happen before January 1 is ... nothing. On Jan. 1, the Bush tax cuts expire, the Obama administration delays changes in payroll withholding to avoid a sudden tax increase on workers, and repugs have to negotiate a new tax cut for the middle class.

As Charlie Pierce can't repeat often enough: 
Fk The Deficit. People Got No Jobs. People Got No Money.
The way out of this recession is to tax billionaires out of existence, borrow trillions while interest rates are negative, and create 10 million new jobs rebuilding and building new infrastructure.

Repugs and the myth of the fiscal cliff are the obstacle.

Saturday, September 3, 2011

Some Charts For the Factually-Challenged

This is all old news, well-known and obvious to us denizens of the reality-based world, but there's nothing like a simple, colorful graph for the anti-literate.

Dave Johnson, Campaign for America's Future:

Problem: Your right-wing brother-in-law is plugged into the FOX-Limbaugh lie machine, and keeps sending you emails about "Obama spending" and "Obama deficits" and how the "Stimulus" just made things worse.

Solution: Here are three "reality-based" charts to send to him. These charts show what actually happened.

Spending



Government spending increased dramatically under Bush. It has not increased much under Obama. Note that this chart does not reflect any spending cuts resulting from deficit-cutting deals.

Deficits



Notes, this chart includes Clinton's last budget year for comparison.

The numbers in these two charts come from Budget of the United States Government: Historical Tables Fiscal Year 2012. They are just the amounts that the government spent and borrowed, period, Anyone can go look then up. People who claim that Obama "tripled the deficit" are either misled or are trying to mislead.

The Stimulus and Jobs



In this chart, the RED lines on the left side -- the ones that keep going DOWN -- show what happened to jobs under the policies of Bush and the Republicans. We were losing lots and lots of jobs every month, and it was getting worse and worse. The BLUE lines -- the ones that just go UP -- show what happened to jobs when the stimulus was in effect. We stopped losing jobs and started gaining jobs, and it was getting better and better. The leveling off on the right side of the chart shows what happened as the stimulus started to wind down: job creation leveled off at too low a level.

It looks a lot like the stimulus reversed what was going on before the stimulus.

Conclusion: THE STIMULUS WORKED BUT WAS NOT ENOUGH!

More False Things

These are just three of the false things that everyone "knows." Some others are (click through): Obama bailed out the banks, businesses will hire if they get tax cuts, health care reform cost $1 trillion, Social Security is a Ponzi Scheme or is "going broke", government spending "takes money out of the economy."

Why This Matters

These things really matter. We all want to fix the terrible problems the country has. But it is so important to know just what the problems are before you decide how to fix them. Otherwise the things you do to try to solve those problems might just make them worse. If you get tricked into thinking that Obama has made things worse and that we should go back to what we were doing before Obama -- tax cuts for the rich, giving giant corporations and Wall Street everything they want -- when those are the things that caused the problems in the first place, then we will be in real trouble.

Liberals know you can't solve a problem unless you understand and acknowledge what caused it.

Sunday, July 25, 2010

Hal Rogers Wants to Give His Daughter 5 Million of Your Tax Dollars

The headline on John Cheves' piece is wrong: Rep. Hal Rogers, R-KY5, does NOT want taxpayer help for cheetas; he wants taxpayer help for his daughter.

U.S. Rep. Hal Rogers, R-Somerset, is sponsoring a bill to give $5 million a year to conservation groups that work overseas on behalf of endangered “great cats and rare canids,” such as cheetahs, lions and Ethiopian wolves.

One group interested in applying, should Rogers’ bill become law, is the Namibia-based Cheetah Conservation Fund.

Its grants administrator, Allison Rogers, is the congressman’s daughter.

“Obviously, I’m waiting with bated breath,” said Allison Rogers, who lives in Versailles. “It would help us a lot because the Cheetah Conservation Fund does not have a very big budget.”

Read the whole thing.

Wow. How much of a commie/socialist/welfare cheat/muslin terrist/traitor do you have to be to expect your Daddy to snatch $5 million out of the pockets of unemployed people and their hungry children in order to support your personal cat hobby?

Or to say yes to that parasitical demand?

Hal Rogers has voted against every single bill to reverse this economic crisis and relieve the suffering of hundreds of thousands of unemployed and underemployed Kentuckians. Like every republican, he has claimed the deficit - the deficit created by George W. Bush and which was perfectly fine with Rogers while Bush was in the White House - is such an imminent crisis that we can't spare a single thin dime to create the jobs that would actually reduce the deficit.

But he's demanding that suffering Kentuckians strip themselves even more desperate so his little girl can have five million of our hard-earned dollars.

I am posting on Rogers' apalling hypocrisy not because it is unusual, much less unique, but because it's what every Congressional repug is doing every single day.

Cross-posted at They Gave Us A Republic ....