“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.
Robert Kuttner: What Now for the Democrats?
Let’s imagine the political possibilities of the next two years and beyond. So far, President Obama’s response to the drubbing of the mid-term has confirmed the progressive community’s worst fears. Astonishingly, he still seems to believe the following:
The American people care more about bipartisan compromise and budget cuts than about ending the economic crisis.
If he just compromises a little more, the Republicans might still meet him halfway.
The recipe for economic recovery has something to do with reducing the short term federal deficit.
All three of these premises are disastrously wrong — as politics and as economics.
Dan Froomkin: On Jobs, Robert Rubin Points In The Wrong Direction Again
WASHINGTON — On a morning when dire unemployment numbers underscored the desperate and urgent need to jump-start the job market, shameless financial arsonist Robert Rubin was hosting a massive exercise in distraction.
The job market is suffering from a terrible cyclical shortfall in aggregate demand brought upon by the financial crisis and the Great Recession, but Rubin wanted to talk about long-term structural issues affecting employment — like the need to reduce the budget deficit, or change corporate tax rates. His is a Wall Street agenda, not a Main Street agenda.
The setting was a policy conference hosted by Rubin’s pet think tank, the Hamilton Project, and its strange bedfellow, the liberal Center for American Progress.
As Clinton administration Treasury Secretary, Rubin presided over the nearly-fatal deregulation of the financial industry, then went on to make $126 million nearly driving Citigroup into bankruptcy, making him arguably one of the men most responsible for causing the financial crisis. But it was so lucrative for him that he can underwrite events like this one.
Thom Hartmann: Tax Cut Lies: The Day The News Died
The New York Times today jumped on board with a classic Frank Luntz “Big Lie.”
Democrats in the House and Senate put forth a bill that would reduce taxes on the first quarter-million, and then, when that failed, the first million dollars of income for every single American. . . .
WASHINGTON – The Senate on Saturday rejected President Obama’s proposal to end the Bush-era tax breaks on income above $250,000 for couples and $200,000 for individuals, a triumph for Republicans who have long called for continuing the income tax cuts for everyone.
What? “Republicans who have long called for continuing the income tax cuts for everyone”??
EVERYONE would have gotten a tax cut under the Democrats’ proposal. Every single taxpayer in America, from the street-sweeper to Bill Gates. Everyone!