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letsgetitdone's picture

Real Fiscal Responsibility, Vol. II: The Peterson Network, Inequality, and the Failure of Neoliberalism

This is how the mission of the President’s National Commission on Fiscal Responsibility and Reform was defined by the White House on February 18, 2010:

The Commission is charged with identifying policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run. Specifically, the Commission shall propose recommendations designed to balance the budget, excluding interest payments on the debt, by 2015. This result is projected to stabilize the debt-to-GDP ratio at an acceptable level once the economy recovers. The magnitude and timing of the policy measures necessary to achieve this goal are subject to considerable uncertainty and will depend on the evolution of the economy. In addition, the Commission shall propose recommendations that meaningfully improve the long-run fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the Federal Government.

And here is what President Obama’s web site had to say about deficit reduction in 2012:

Right now, President Obama is working with leaders of both parties in Washington to reduce the deficit in a balanced way so we can lay the foundation for long-term middle-class job growth and prevent your taxes from going up.

letsgetitdone's picture

For US Democracy: There Is Only One Choice

Cover of Real Fiscal Responsibility, Vol II

We need big, big changes in the United States. Many of them will require the Federal Government to spend unprecedented amounts, including deficit spending to enable us to solve problems that have languished, creating needs, for many, many years.

How can we get these changes legislated through a political system that has been increasingly less responsive to most people over the past four decades. There’s only one way that will work without revolution.

We need a movement for change powerful enough to replace the present establishment of House and Senate legislators and presidents wanting to preserve their way of looking at how to do things, with another group that has concluded that change is desperately needed and must be accomplished come what may, whatever the cost in long established customs and traditions in both Houses of Congress and among the vested political and communications elites in the Washington, DC/New York “village.” But not just any changes will do. Read more about For US Democracy: There Is Only One Choice

ek hornbeck's picture

Republican Debate- 7 No Trump

Folks, the only thing that is keeping the Republican Party alive is the Neolib Media's and Corporatist Democratic Party's need for a distraction of the systemic destruction of our democracy and looting of the Treasury.

If you think this is going to be a live blog, think again. I can't stand to watch Democrats whore themselves, why do you feel this will be any different?

Besides, all the entertainment value is gone. Read more about Republican Debate- 7 No Trump

athena1's picture

Listen Up, Socialist! An Open Letter to the Bernie Sanders Generation

http://journal-neo.org/2016/01/13/listen-up-socialist-an-open-letter-to-...

It used to be off-limits to talk the way we do. We can all remember when “capitalism” was synonymous with “good” in standard American English. In the mainstream mind, the word “socialism” only conjured up images of dictators and prison camps.

--------------------------------------------------------- Read more about Listen Up, Socialist! An Open Letter to the Bernie Sanders Generation

jeffroby's picture

We will not be used!


Millions have been energized, enlisted and mobilized into the Sanders campaign under the banner of the Political Revolution. But as Charlotte Corday sang in the play Marat/Sade, “change meant one thing to you I see / And something quite different to me.” Read more about We will not be used!

DCblogger's picture

Why would anyone quote Steve Israel on the subject of electability

Clinton’s lead is evaporating, and anxious Democrats see 2008 all over again

“There’s definitely an elevated concern expressed in the cloakroom and members-only elevators, and other places, about the impact of a Sanders nomination on congressional candidates,” Rep. Steve Israel (D-N.Y.) said.

athena1's picture

Trump's intriguing political history

Trump told Boston.com that Dunbar’s efforts may well have “planted the seed” that has resulted in almost three decades of contemplating a presidential campaign. “It was a long time ago. And because I was in New Hampshire, everyone went crazy and said ‘He’s running for president’, which wasn’t true … But it really was because of that speech that this whole thing started.”

DCblogger's picture

Bernie Sanders plan to create worker cooperatives

It is no longer on his campaign website, but through the magic of the wayback machine,. we can publish Bernie Sanders' plan to create worker cooperatives Read more about Bernie Sanders plan to create worker cooperatives

ek hornbeck's picture

Debbie Wasserman-Schultz Must Be Fired- Now!

Let's start with an obvious given- Debbie Wasserman-Schultz is the single worst Democratic National Committee Chairman ever. She is directly responsible for the devastating defeats of 2012 and 2014 (What? You say 2012 wasn't a defeat? Look down ticket dope.). She has supported Republicans, Republicans for goodness sake, against Democrats in her home state of Florida, and has sabotaged liberal and progressive Democrats at every turn in favor of corporatist Third Way/Blue Dog/DLC/New Democrat conservative refugees from the rapidly imploding Republican Party who are merely Democrats of convenience.

A less obvious given, but a given none the less, is that she is totally in the tank for Hillary. She makes barely a pretense of neutrality, her support is naked and blatant.

Oh yes, there's more. Read more about Debbie Wasserman-Schultz Must Be Fired- Now!

letsgetitdone's picture

An Excerpt from Real Fiscal Responsibility, Vol I: the Progressive Give-up Formula

Below is an excerpt from my most recent e-book: Real Fiscal Responsibility, Vol. I: The Progressive Give-up Formula. The book is volume I of II critiquing austerity politics at the Federal level in the United States. It exposes its fallacies, its closed-mindedness and futility, and especially its reliance on wrong-headed conceptions of fiscal sustainability and fiscal responsibility.

In this volume, I relate neoliberalism, the Washington Consensus, and austerity politics pushed by the powers that be among the DC Village progressives, and the ideas of fiscal sustainability and fiscal responsibility, to the perspectives of Modern Money Theory (MMT), including MMT-based ideas about fiscal sustainability and responsibility. I also explain what I mean by real fiscal responsibility, rather than faux fiscal responsibility, and apply these ideas to an analysis of the US Government during the term of Jimmy Carter. I begin my analysis of current progressive ideas and activities by examining the views of Senator Bernie Sanders, and Elizabeth Warren, and then continue by analyzing the operation of the give-up formula among Congressional and DC progressives during the period 2009 - 2010, when the Democrats had big margins in Congress. I then move to the period 2011 – the present. Next, I analyze the Campaign for the American Future and its New Populism Campaign, and then conclude by relating the give-up formula to real fiscal responsibility.

DCblogger's picture

I blame the media

Green Day - American Idiot

The kind of rank corruption, violence, and hysteria of contemporary American society would not be possible if we had an honest news media, or even just a mediocre media. They are enablers, all of them. Read more about I blame the media

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