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robertogreco : debtcrisis   5

Hullabaloo: No matter what Obama does, Republicans won't care and won't fold
"We are in uncharted waters, an era unprecedented since the Civil War in which one side is willing to let the country burn down in order to achieve its goals. Californians already know this well, having been forced into perpetual fiscal crises by a bare 1/3 Republican remnant in each chamber. Even as Republicans continued to slowly lose ground and seats, the vast majority of the caucus remained entrenched, fearing only opposition from the right. They were more than happy to let the Democratic-controlled state slip into chaos in order to get their way. California Democrats were left in the ugly position of making a series of Sophie's Choices, determining only which children to shoot to appease the tiny Republican minority. In an era of perpetual and consequence-free hostage taking, the only calculation that matters is which hostages to save and which ones to shoot.

Changing that equation doesn't involve intimidating Republicans or opening the eyes of their constituents.They're not…"
debtceiling  debtcrisis  barackobama  republicans  taxes  government  economics  politics  fiscalcliff  california  2013  davidatkins 
january 2013 by robertogreco
John Lanchester · The Non-Scenic Route to the Place We’re Going Anyway: The Belgian Solution · LRB 8 September 2011
"There is, just, time for this change of course to happen, before it’s all too late. But I fear that the grip of anti-spending ideology is so strong throughout the West, and the politicians’ fear of the banks is so entrenched, that the ten-year slog looks more likely. Oh strangest of all strangenesses, the deep longing for the whole world to be more like Belgium."
johnlancaster  2011  finance  crisis  economics  policy  eu  politics  us  uk  greatrecession  debt  debtceiling  debtcrisis  belgium 
september 2011 by robertogreco
Christopher Newfield: Was the Innovation Economy Killed by the Debt Debate?
"What kind of a country sanctions the top-25 hedge fund managers earning $22 billion personally? What kind of country cuts services to people who would need 250 years to earn the salary a CEO earns in one year -- so that CEO can pay lower taxes than his secretary?

Our political discourse has successfully shamed people out of asking these questions. But when they do, the answer to what kind of country we are is: not a country that fairly rewards hard work, individual creativity or pulling together to solve shared problems. Any belief in the general benefits an innovation economy are mocked by current levels of inequality, fueled by a mania for tax avoidance, much like that which created poverty amid the aristocratic plenty of pre-revolutionary France.

Until policymakers can support both innovation jobs and levels of equality that spell mutual respect, the majority will not vote to pay for the economic renewal we need."
christophernewfield  economics  us  politics  inequality  wealth  wealthdestruction  taxes  government  policy  stem  innovation  2011  nationaldebt  debtcrisis 
august 2011 by robertogreco
A Story More Important than Debt Limit Kabuki | Informed Comment
"The reason that the Republicans deliberately destroyed the balanced budget and created unprecedented government debt was precisely in hopes that at some point they could use the debt as an excuse to destroy social security, medicare, and myriads of educational and health programs. They represent rich people, and the rich don’t want to be having to bear their fair share of the national burden. What better way to get out of having to pay those pesky taxes than making sure the government doesn’t do anything for anyone but the rich.<br />
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So everything unfolding in Washington was planned out in a room in 2001, and is going according to plan."
juancole  crisis  2011  2001  wealth  wealthy  debtlimitkabuki  debtceiling  debtcrisis  government  classwarfare  rich  budget  budgetcuts  taxes  finance 
july 2011 by robertogreco
Charting the American Debt Crisis - Interactive -
"America has a long history of raising the debt limit to accommodate spending. Below, a look at some of the issues in the debate over the nation’s debt."
nytimes  charts  2011  debtcrisis  debtceiling  history 
july 2011 by robertogreco

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