Seriously. All you people on left and right, suspend your disbelief for one minute. Seriously.What if Barack Obama was right and S&P just got it wrong.Here's what I'm hearing and it gives credence to this theory.Rumors began to spread on Wall Street about the downgrade on Friday morning. That's why the market ... Read at CNN
Political News and Opinion
Thursday, August 18, 2011
The poor like taxing the rich less than you would think
Editorial , The EconomistIN THE 1939 classic Western “Stagecoach”, a villainous banker with a bag of embezzled cash in his lap frets about the state of the American economy: “Our national debt is something shocking!” he complains. That year American public debt was just over two-fifths of GDP. This year, the IMF rec ..
Wednesday, August 10, 2011
The Day Our Leaders Got Unstuck
Thomas L. Friedman , New York TimesThis is a scary economic moment. The response we need is not easy, but it is totally obvious. We need a Grand Bargain between America’s two parties — and we need it right now. Until you read the following news article, we’ll be stuck in a world of hurt.
Tuesday, August 9, 2011
A Downgrade Awakening
Editorial , Wall Street JournalDuring yesterday's market meltdown, an old friend shot us an email: "The Obama adm needs to stop trying to disarm the fire alarm and start trying to put the fire out." Good advice that, not that President Obama followed it during his midday remarks at the White House. Instead, he poured on some lig ..
Wednesday, July 27, 2011
What's Wrong With America's Job Engine?
David Wessel , Wall Street JournalLarge crowds attended Tuesday a job fair hosted by NASA in Cape Canaveral, Fla., for those were laid off when the space shuttle program ended.
Tuesday, July 26, 2011
Congress In the Lead
David Brooks , New York TimesSome of us like to think big. We thought at the beginning of this debt crisis that it might be possible to reach a Grand Bargain. This deal would make a serious dent in the country’s awful debt problem. It would begin to reform entitlements. It would involve enough revenue to forestall ruinous ..
Friday, July 22, 2011
The limits of a compromise on the debt ceiling
Eugene Robinson , Washington PostBefore we make political partisanship a felony, punishable by endless lectures from weather-vane senators and allegedly “wise” commentators, let’s remember that some choices are real, consequential and mutually exclusive.I’m not talking about the kind of scorched-earth partisanship that Sena ..
Obama's Debt-Ceiling Scare Tactics
Thomas R. Saving , Wall Street JournalLast week President Obama made an alarming statement to the nation's senior citizens. He told CBS Evening News anchor Scott Pelley he couldn't guarantee that $20 billion in Social Security checks will go out on Aug. 3, the day after the government would go into default if it doesn't raise the debt c ..
The Lesser Depression
Paul Krugman , New York TimesThese are interesting times — and I mean that in the worst way. Right now we’re looking at not one but two looming crises, either of which could produce a global disaster. In the United States, right-wing fanatics in Congress may block a necessary rise in the debt ceiling, potentially wreaking h ..