Archive for the ‘Recession’ Category

Of Groupthink, Financial Bubbles, and Lance Armstrong

Lance Armstrong got away with ringleading what now looks like a vast doping conspiracy, in part because the sports media refused to investigate what was right under their noses. Why? Because they were too invested in the heroic image that congealed around the Tour de France winner. In much the same way, groupthink in the […]

Pie in the Sky in Eastern Europe: The Ryan Plan in Action

Vice presidential candidate Paul Ryan has been pushing Social Security privatization for the better part of a decade. What if his plan was actually implemented? An important new paper looks at what happened when Hungary and Poland attempted something similar with their national pension systems. The results were ugly. It’s been reported that Paul Ryan […]

Why You Should Celebrate Social Security’s Birthday on Aug. 14

Social Security’s 77th birthday comes up on Tues., August 14. The Alliance for Retired American is planning events all over the country to celebrate (see details below!). As well it might – Social Security’s benefit checks keep 20 million people out of poverty every year and are helping to prop up consumer spending while the […]

Reading FDR’s Mind: “Full Funding” and the Original Intent of Social Security

What kind of a program did Franklin Delano Roosevelt want Social Security to be? A narrowly designed, fully self-funded system, or a more expansive institution whose funding sources might change over time? Today’s three-way struggle between progressives, conservatives, and the center-right over Social Security’s future makes the question of FDR’s “original intent” more timely than […]

Demanding the Possible from Social Security

The dead-end debate over Social Security’s solvency has long stymied any discussion of how to improve the program for its participants. Now may be the time to break that logjam. Here’s a way that progressive lawmakers can help to do so.   Hard as it is to conceive, the last time a significant improvement was […]

Paul Ryan’s Hammock

How stands the Social Security discussion in Washington following State-of-the-Union night? More or less where it was before. Which, for defenders of the program is mostly not good. President Obama honored his pledge to congressional Democrats over the previous weekend not to endorse cuts to the program. In fact, he went a bit farther, rejecting […]

The Greed of the “Bottom Half”

We’ll shortly be hearing the objections of deficit hawks to the deficit reduction package Demos, The Century Foundation, and the Economic Policy Institute. No doubt they’ll echo the criticisms that have already been leveled at the deficit-shrinkage roadmap Rep. Jan Schakowsky put on the table earlier this month. To get a sense of what those […]

Schakowsky’s Deficit Reduction Plan Is Game Changer

Rep. Jan Schakowsky’s deficit reduction proposal is a game changer: a serious, moderate, balanced blueprint for addressing the nation’s long-range fiscal challenges, by a leading progressive lawmaker. How her colleagues on the president’s deficit commission respond to it will be a test of how serious they really are about solving the deficit puzzle in a […]

I Didn’t know Krugman Could Read Geithner’s Mind

What Krugman suspected – that high unemployment just doesn’t matter that much anymore to our political leaders, and in fact is the new normal – appears to be just what Tim Geithner is willing to settle for. Paul Krugman was saying what a lot of people were already thinking on Sunday, when he described a […]