“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.
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Dean Baker: The March Trade Deficit and the Trans-Pacific Partnership
The jump in the March trade deficit, coupled with the weak job numbers for the last two months, should highlight the importance of including rules on currency in trade agreements. Such rules could ensure that the dollar does not remain over-valued and prevent the economy from reaching full employment.
The basic story would be fairly simple if so many people did not deliberately try to confuse issues. There are four types of demand in the economy, consumption, investment, government spending, and net exports. Note that the category is “net exports,” not exports.
The point is that we create demand for the economy as a whole when we export more goods and services than we import. If we import more than we export, which means we run a trade deficit, then we are actually losing demand from trade. Our current trade deficit of more than $500 billion a year has the same effect on demand in our economy as if consumers took $500 billion from their paychecks each year and stuffed it under their mattress rather than spend it. This money is creating demand in other countries, not in the United States.
Richard (RJ) Eskow: Social Security, Ten Years From Now
For the Huffington Post’s 10th anniversary I was invited to predict what Social Security might look like 10 years from now. That future is filled with both possibility and shadowed by danger. [..]
The past 10 years have shown us that, when it comes to the politics of Social Security, we can make major progress as a nation. But they also teach us that Social Security is not safe from the predations of career politicians in either party looking to make a short-term deal, please wealthy backers, or follow the misguided consensus of well-funded policy insiders.
The future of this vital and popular program is in our hands. It can be strengthened if we fight for it. It can also be taken from us, piece by piece, if we don’t. The responsibility for Social Security’s future, as always, lies with us.
A basic moral principle that most Americans agree on is no one who works full time should be in poverty, nor should their family.
Yet over time we’ve seen significant growth in the “working poor” – people working full time, sometimes even 60 or more hours each week, but at such low wages that they remain impoverished.
What to do?
One step is to raise the minimum wage to $15 an hour. This is winnable. A powerful movement is fighting for $15 an hour and they’re winning new laws in cities and states, and forcing companies to raise wages.
Wendell Potter: Court Case Shows How Health Insurers Rip Off You And Your Employer
If you think you’re paying too much for employer-sponsored health coverage, you might want to forward this to the HR department. It’s possible, maybe even likely, that your health insurer has been ripping off both you and your employer-to the tune of several million dollars every year-for decades.
Many Americans, according to various polls, blame Obamacare for every hike in premiums despite the fact that the rate of increase for most folks was actually greater before 2010, the year the law went into effect.
Health insurers are delighted that many folks blame Obamacare for rate increases because it deflects attention away from them and, according to documents made public in a recent lawsuit against a big Blue Cross plan, the questionable activities they’ve been engaging in for years to boost profits.
It turns out that one of the reasons workers have been paying more for their coverage is allegedly a common practice among insurers: charging their employer customers unlawful hidden fees.
John Dear: Everyone Has to Practice Nonviolence Now
The death of unarmed Freddie Gray in police custody and the subsequent riots in Baltimore demonstrate the profound systemic injustice in our country, as well as the complete misunderstanding and widespread hypocrisy about nonviolence.
Everyone has to practice nonviolence. Everyone. From the people on the streets to the police, to church ministers and parents, but also our media spokespeople and elected officials. Including the president. And the military. Everyone, everywhere. The days of war, killing, shootings, bombings, torture, executions and nuclear weapons are coming to an end. The days of violence are over. Everyone has to practice nonviolence. That is our only future–if we are to have a future. [..]
After Baltimore, Ferguson, Iraq, and Afghanistan, the evidence is in. Violence has failed. The days of violence and war are over. Dr. King and Gandhi were right; nonviolence is our only option.
Every one of us has to start practicing nonviolence. If we all take up where Gandhi and King left off, we can build a new grassroots movement of nonviolence that will lead to a new culture of peace.
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