Eric J. Schoenberg This investment banker turned Professor of Economics at Columbia University joined the debate about economic
American deficit hawks gathered in the nation's capital on Wednesday to commiserate over the collapse of the U.S. austerity movement, solemnly hobnobbing with political royalty to reminisce about the days when slashing Social Security seemed all but inevitable.
This policy shadow-boxing -- emphasizing the deficit while pursuing a separate agenda -- is illuminated by the fact that
Maya MacGuineas, a spokeswoman for the initiative and a budget expert who has worked with both Democratic and Republican
Simpson and Bowles and austerity's other sales people aren't really economic thinkers. They're paid to pitch a product. They didn't invent austerity any more than Alex Rodriguez invented Pepsi. But what they're peddling isn't a soft drink. It's a lot worse for you than that.
Imagine that a substantial group of the most prominent astronomer insisted that the sun goes around the earth, as anyone can plainly see. There would likely be huge numbers of people who refused to accept that the earth goes around the sun. This is the state of modern economics.
I can only think of this metaphor, which I believe is apt: There's a ticking time bomb in your living room, you know the bomb will certainly explode in 10 to 15 years, and you choose only to reassure your family, "There is no 'immediate' danger." That is pretty much the situation we face today.
When fiscal crises become the "new normal" the public begins to remember that they elected politicians to do a job. And part of their job description is to take care of the public purse and not to create problems where none exist.
In addition to his current duties as professional-liberal-even-Joe-Sixpack-can-love on MSNBC, Ballard Spahr court jester, Rendell is currently co-chairing the steering committee of something called The CEO Campaign To Fix The Debt.
Conventional wisdom currently is that the sequester deadline will pass and then Washington will come up with some sort of compromise solution. Perhaps just in time for the next self-inflicted crisis.
When Jim McCrery, a former Louisiana congressman, urged lawmakers last month to pursue entitlement cuts and tax reform, he
Congress needs to finish its fiscal work successfully and quickly and then pass legislation that will stimulate job creation and growth and development of the economy for the middle class and the working poor.
Back in the 1950s three social psychologists joined a cult that was predicting the imminent end of the world. Their purpose
It may, in fact, be the only part of their job description. Consider, if you will, the ongoing bargaining over the revenue
Social Security Sustainable: Productivity Improvements Enlarge the Pie, Facilitate Funding Boomer Benefits and Beyond
The latest bumper-sticker slogan that "Social Security is unsustainable" doesn't stand up under scrutiny.
Haislmaier is a Senior Research Fellow in Health Policy Studies at the conservative think tank, and a longstanding, vocal
Another Fix The Debt coalition partner, the Comeback America Initiative, is the primary vehicle through which Peterson ally
The Simpson-Bowles personal profit tour reveals that for them, for their creation -- the speciously labeled Campaign to Fix the Debt -- and for the CEOs, right-wing groups and Republicans rallying round them, the effort has nothing to do with deficits or fixing anything.
After eating too much turkey, Congress returned to Washington this week with more opinions than my politically divided family about how we can reduce our federal deficit before the New Year when time runs out, and the federal budget turns in to a speeding car driving off the "fiscal cliff."
"I think the probability is we're going over the cliff," said Erskine Bowles, a former Clinton administration official and