Social Security & The Deficit: Keeping the Promise

Pushing Crisis: GOP Cries Wolf on Debt Ceiling in Order to Impose Radical Pro-Rich Agenda

DEMOCRACY NOW  July 22. 2011

President Obama and Republican House Speaker John Boehner are allegedly close to a $3 trillion deficit-reduction package as part of a deal to raise the federal debt ceiling before an Aug. 2 deadline. But the deal is coming under fire from both congressional Democrats and Republicans. Part of it calls for lowering personal and corporate income tax rates, while eliminating or reducing an array of popular tax breaks, such as the deduction for home mortgage interest. Some Democratic lawmakers expressed outrage on Thursday because the Obama-Boehner agreement appears to violate their pledge not to cut Social Security and Medicare benefits, as well as Obama’s promise not to make deep cuts in programs for the poor without extracting some tax concessions from the rich. We’re joined by economist Michael Hudson, president of the Institute for the Study of Long-Term Economic Trends, a Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and author of “Super Imperialism: The Economic Strategy of American Empire.”

Read more or view video at Democracy Now
.
z
Z

Read Full Post »

Hope, Change And One Year Later

“The road ahead will be long. Our climb will be steep. We may not get there in one year or even one term, but America — I have never been more hopeful than I am tonight that we will get there. I promise you — we as a people will get there.
There will be setbacks and false starts. There are many who wont agree with every decision or policy I make as President, and we know that government cant solve every problem. But I will always be honest with you about the challenges we face. I will listen to you, especially when we disagree. And above all, I will ask you join in the work of remaking this nation the only way its been done in America for two-hundred and twenty-one years – block by block, brick by brick, calloused hand by calloused hand.”

Barack Obama,
November 4, 2008

November 4, 2009. It’s been exactly one year since Barack Obama was elected, and it’s becoming increasingly clear that the president hasn’t fixed the whole world yet. Then again, he never promised such a thing. But despite some “setbacks and false starts,” we’re in considerably better shape than we were when the president delivered the above words on election night in Chicago.

One of his central goals, going all the way back to his 2004 convention speech, of building common ground between Americans of different ideologies and backgrounds is going to be more difficult than was previously anticipated. However, what’s beginning to take shape is common ground between the far-right and the far-left insofar as they’re both angrily lining up in opposition to this White House.

Of course the wingnut right — the Beck-Limbaugh-Palin Industrial Complex — has a significant head start. Plus, they’re immovable. Nothing this president does, short of resignation, will ever be greeted positively and everything will be pegged as a Nazi-Communist-Nixon-Carter-Terrorist usurping of American exceptionalism. However, on the left, there’s a growing discontentment that’s rapidly metastasizing into a similarly virulent and unchangeable anger. It not only threatens to fracture the president’s progressive base, but it could also force the president to retreat to the middle.

Read Full Post »