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Supreme Court Justice Samuel Alito gave a very illuminating post-election speech recently to the 30th Anniversary Gala of the conservative Federalist Society. Justice Alito’s remarks to the assembled cream of the right-wing legal establishment — from Robert Bork to Texas Senator-elect Ted Cruz to partners at dozens of big law firms (many of which bring ...
Today’s prolonged economic slump is fundamentally different from an ordinary recession. In the aftermath of a severe financial collapse, an economy is at risk of succumbing to a prolonged deflationary undertow. With asset prices reduced, the financial system damaged, unemployment high, consumer demand depressed, and businesses reluctant to invest, the economy gets stuck well below ...
Center for Economic Policy’s Dean Baker debates AEI’s Jim Pethokoukis on the ramifications of the fiscal cliff (slope) and the merits of raising the tax rate on the 2% as part of a deficit reduction plan.
As analysts continue to pore over the election’s results, there are valuable lessons for those who seek to reform government. Perhaps the most important case study is California’s referendum to abolish the death penalty, where strong fiscal arguments did not sway voters. California is in its worst fiscal crisis. On Election Day, voters approved a ...
As President Obama gets closer to making his deal with the Republicans on the budget, the most important thing to keep in mind is that the fiscal cliff is an artificially contrived trap. Were it not for the two Bush wars and the two Bush tax cuts and the House Republican games of brinksmanship with ...
One explanation of Mitt Romney’s defeat in the presidential race focuses on the growing demographic diversity of the electorate. The declining share of white men in the voting population clearly had an impact. But another underlying factor – one that reflects economic rather than demographic dynamics – also deserves consideration. The economic interests of capitalists (defined as ...
This is now the standard line from Wall Street lobbyists: Don’t worry about “too big to fail” financial institutions because the Dodd-Frank Act fixed the problem. The implication is that Congress should relax and not push any additional changes, such as capping the size of our largest banks in a meaningful way or forcing them to simplify ...
For much of the last three decades, policy debates in the United States have been dominated by a quixotic concern about deficits, debt, and demographics. This concern has distracted policy from fundamental economic issues that have much more direct bearing on economic well-being, most notably the growth (and bursting) of the housing bubble in the ...
Former FEC Chairman Trevor Potter refutes the claim that money made little difference in the most expensive election in American history on Bill Moyer’s Journal, November 16th, 2012.
Federally funded extended unemployment insurance (UI) benefits are set to expire at the end of this year. These benefits serve two very useful public purposes. Most obviously, they provide a lifeline to the long-term unemployed and their families during the deepest and longest economic downturn since the 1930s.1 Less understood but equally crucial, the UI benefit ...
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