In polite circles in the United States’ support for free trade is a bit like proper bathing habits. It is taken for granted. Only the hopelessly crude and unwashed would not support free trade. There is some ground for this attitude. Certainly the United States has benefited enormously by being able to buy a wide [...]
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Most of us accept that the earth goes around the sun. This is impressive since we can look up in the sky and see the sun going around the earth. We believe the opposite because we have been told about the research of astronomers over the centuries showing that what we can see with our [...]
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That’s the question millions will be asking when they see the new paper by my friends at the University of Massachusetts, Thomas Herndon, Michael Ash, and Robert Pollin. Herndon, Ash, and Pollin (HAP) corrected the spreadsheets of Carmen Reinhart and Ken Rogoff. They show the correct numbers tell a very different story about the relationship [...]
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The Washington Post seems to have a quota for pieces that spread misinformation on manufacturing. Today’s piece by Robert Samuelson fills the quota for the day. The gist of the piece is that manufacturing employment has been declining in importance in the U.S. for decades and also everywhere else around the world. Therefore we should [...]
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In societies across the globe, men demonstrate their manhood in different ways. There are many wonderful tracts on the topic. However, in the culture of Washington DC, the best way to demonstrate your manhood is to express your willingness to cut Medicare and Social Security. There is no better way to be admitted into the club of the Very Serious People.
This is the reason that we saw White House spokesman Jay Carney tell a press conference. He told the reporters that President Obama is still willing to cut Social Security benefits by using the chained CPI as the basis for the annual cost of living adjustment (COLA). This willingness to cut the benefits of retirees establishes President Obama as a serious person in elite Washington circles.
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Originally published at TruthOut. One of the major growth industries in Washington is the promotion of budget hysteria. Well-funded groups have weekly, if not daily, events designed to hype the country’s budget situation. Much of the national media, most importantly the Washington Post, have enlisted in this effort, devoting both their opinion and news sections [...]
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