Delusional: Ryan’s Budget Plan not Grounded in Reality

This week Congressman Paul Ryan released the new Republican budget for the federal government. One thing was notably missing: anything different from the budget he proposed last year. Rep. Ryan and his colleges on the GOP budget committee produced a document that turns Medicaid into a voucher system, makes further cuts in programs that many Americans rely on for their daily survival and his core proposal being the repeal of the  Affordable Care Act.… [Read more]

Austerity and American Exceptionalism: Stubbornness Before the Downfall

“None of this is necessary,” said President Obama during his weekly address to the nation. “It’s happening because Republicans in Congress chose this outcome over closing a single wasteful tax loophole that helps reduce the deficit.”

How ridiculous that we’ve arrived at this point. And how utterly exhausting for the nation. We’re wrapping up yet another week watching the train wreck that is U.S.… [Read more]

All the wrong talking points…but they still won’t shut up.

How many times must the GOP and its laughable public relations firm, Fox News, be wrong before they realise that it’s a good idea to remain silent?

When an announcement came from the office of the Israeli President, Shimon Peres, on Monday that President Obama will receive the Presidential Medal of Distinction – the first time ever that Israel has given this honour to a sitting US president – I wondered just what will it take?… [Read more]

The Deficit – It’s Not What Republicans Want You to Believe

The deafening noise coming from Republicans about the deficit is nothing but a lot of…. noise. Most of these people, especially on the far fringe right, are talking about something that they really do not understand.

Many understand the underlying thought but a picture will help to reinforce the concept. Towards that goal, here is an extremely simplified picture of the economy:

The concept to keep in mind here is that the economy is a network of circulating money.… [Read more]

Pageantry in the Face of Austerity

The Diamond Jubilee in commemoration of the 60-year reign of Queen Elizabeth II has been a pretty spectacular affair.  Especially so in light of the economic news we’ve become more used to hearing out of Europe. In fact, last week Mario Draghi, the head of the European Central Bank warned that the current structure of the European Union and its problematical currency, the Euro, was unsustainable.… [Read more]

The GOP, Seinfeld, Woody Allen and the Case Against Austerity

Although applied economics is a rather complicated matter, it seems to me that an eighth-grader should be able to figure out that policies that reduce the number of folks out there with cash to buy stuff will hinder an economic recovery, not hasten one. I am referring to the unprecedented cuts on state and local levels that have rendered unemployed thousands of public sector workers such as policemen, teachers and firefighters.… [Read more]