Tag: Politics

Punting the Pundits

“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”.

Follow us on Twitter @StarsHollowGzt

Paul Krugman: The Inflation Obsession

Recently the Federal Reserve released transcripts of its monetary policy meetings during the fateful year of 2008. And, boy, are they discouraging reading.

Partly that’s because Fed officials come across as essentially clueless about the gathering economic storm. But we knew that already. What’s really striking is the extent to which they were obsessed with the wrong thing. The economy was plunging, yet all many people at the Fed wanted to talk about was inflation. [..]

Historians of the Great Depression have long marveled at the folly of policy discussion at the time. For example, the Bank of England, faced with a devastating deflationary spiral, kept obsessing over the imagined threat of inflation. As the economist Ralph Hawtrey famously observed, “That was to cry ‘Fire, fire!’ in Noah’s flood.” But it turns out that modern monetary officials facing financial crisis were just as obsessed with the wrong thing as their predecessors three generations before.

Robert Kuttner: Wall Street’s Tea Party

Governor Jan Brewer’s veto of a bill that would have allowed discrimination against gays on religious grounds is only the latest example of the tension between the corporate and fundamentalist right. She acted because business elites feared that the measure would be bad for the state’s economy.

The alliance between the fundamentalist far right and the business elite was always a bizarre marriage of convenience. The Wall Street gang tends to be relatively liberal on social and lifestyle issues, the very issues where the conservative base detests godless liberals. Many Tea Party Republicans, meanwhile, embody a kind of rightwing economic populism that doesn’t have much use for investment bankers.

Until now, the likes of Karl Rove and the Koch Brothers have held this bastard alliance together. But despite the wishes of Wall Street to defend business-friendly GOP incumbents, the Tea Party faction is mounting credible primary challenges against at least five entrenched Republican senators, most notably Minority Leader Mitch McConnell of Kentucky, Lindsey Graham of South Carolina and Thad Cochran of Mississippi.

Norman Solomon: Heard the One About Obama Denouncing a Breach of International Law?

International law is suddenly very popular in Washington. President Obama responded to Russian military intervention in the Crimea by accusing Russia of a “breach of international law.” Secretary of State John Kerry followed up by declaring that Russia is “in direct, overt violation of international law.”

Unfortunately, during the last five years, no world leader has done more to undermine international law than Barack Obama. He treats it with rhetorical adulation and behavioral contempt, helping to further normalize a might-makes-right approach to global affairs that is the antithesis of international law.

Leo W. Gerard: Rights Only for the Right People

All those rights Americans cherish, those fundamental human and political freedoms protected by the U.S. Constitution, Republicans contend those aren’t really inalienable rights or anything solid or permanent like that.

See, according to the GOP, some Americans are sub-citizens who don’t deserve rights equal to those enjoyed by, well, the right-wing. Republicans think they’re right, and anyone who disagrees doesn’t deserve rights.

Republicans managed to highlight that perverse plank in their political platform over the past several weeks as they proposed – and sometimes actually passed – legislation limiting the fundamental rights of specific groups of American citizens. That includes gay Americans, African-Americans, and Americans who are members of labor unions. Right-wingers sought to seize from these Americans their rights to vote, protest and live free from discrimination.

Joe Glenton: Rape and sexual assaults in the military need more than ‘kangaroo court’ justice

Informal and unaccountable ‘in-house’ procedures mean hundreds of allegations go unquestioned

The foreign secretary, William Hague, has called for an end to the use of sexual violence in war as part of the fine and timely crusade he has taken up alongside movie star Angelina Jolie. An inquest into the death of corporal Anne-Marie Ellement, a military policewoman who killed herself in 2011 after claiming she was raped by army colleagues, has fixed a spotlight on the issue of sexual violence within the British military. Today the coroner found Ellement killed herself in part due to bullying in the army and the effects of alleged rape. It has also emerged that of 200 allegations of rape and sexual assault between 2011 and 2013 in the military, there have only been 27 convictions.

To begin to understand the British military on any level it is best to start with a round of myth busting. Let us dispense with the idea that the British military is in a meaningful sense a slightly quaint but essentially harmonious family. Healthy families do not regularly inflict acts of sexual violence upon each other, and in the British forces rapes and sexual assaults seem to have become something of a banality. No comparable professional group in the UK appears to rival the military for rates of colleague-on-colleague sexual violence. I would argue this stems from a poisonous mix of unchallenged sexism, unaccountable power and an archaic military justice system.

Dan Gillmor: Snowden made cyber-geek nightmares true. Can ‘private’ be normal again?

The NSA leaks created everyday interest in products built to protect. At a security pow-wow turned sour, that’s a good thing

In the nearly nine months since the Edward Snowden revelations began on this website, some of the most jaw-dropping surveillance news has involved a company called RSA, which for years has been one of the top computer security firms in the world. Boiled down, RSA is alleged to have weakened a core element of a widely used encryption product at the behest of the National Security Agency, receiving $10 million in the process of providing a “back door” for government snooping. [..]

It’s too early to tell whether this incompetence – or betrayal, take your pick – will hit RSA and its $51bn parent company, EMC, where it should: on the bottom line. And despite a boycott by some scheduled speakers here, the RSA conference was well-attended. As one security expert who’s expressed contempt for the company’s behavior told me, it’s still his best chance to catch up, face-to-face, with other top people in this still burgeoning field.

Punting the Pundits: Sunday Preview Edition

Punting the Punditsis 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”.

Follow us on Twitter @StarsHollowGzt

The Sunday Talking Heads:

This Week with George Stephanopolis: Guests on “This Week” are: Secretary of State John Kerry; actor Ben Affleck and former senator and U.S. Special Envoy Russ Feingold; and FiveThirtyEight.com editor-in-chief and ABC News special contributor Nate Silver.

At the roundtable: Rep. Adam Kinzinger, R-Ill., CNN “Crossfire” co-host Van Jones, National Review editor Rich Lowry, and ABC News’ Cokie Roberts.

Face the Nation with Bob Schieffer: Mr. Schieffer’s guests are: Secretary of Defense Chuck Hagel; Secretary of State John Kerry; and Sen. Kirsten Gillibrand (D-NY).

His panel guests are Michael O’Hanlon of the Brookings Institute; Danielle Pletka of AIE; David Ignatius of the Washington Post; and CBS News National Security Correspondent David Martin.

Meet the Press with David Gregory: This Sunday’s guests on MTP are: Secretary of State John Kerry; Sen. Marco Rubio (R-FL); and California Governor Jerry Brown (D).

At the roundtable are: Baltimore Mayor Stephanie Rawlings-Blake; Washington Post columnist Kathleen Parker; NBC News Political Director Chuck Todd; Founder of Women in the World Tina Brown; and Bloomberg View columnist Jeffrey Goldberg.

State of the Union with Candy Crowley: Ms. Crowley’s guests are Ukraine’s ambassador to the United Nations Yuriy Sergeyev; Illinois Democrat Dick Durbin and South Carolina Republican Lindsey Graham; and the former U.S. Ambassador to Russia John Beyrle.

Her panel guests are: former Obama insider Bill Burton, New York Times columnist Ross Douthat and Amy Walter of the Cook Political Report.

Punting the Pundits

“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”.

Follow us on Twitter @StarsHollowGzt

Richard (RJ) Eskow: Has the Left Surrendered?

Has the American left ceased to exist as a viable political force by surrendering its power to a corporatized Democratic Party? That’s the argument put forward by political scientist Adolph Reed Jr., first in an essay for Harper‘s magazine and then in a televised follow-up interview with Bill Moyers.

Reed’s essay, “Nothing Left: The Long, Slow Surrender of American Liberals,” has a blunt message which might be summarized as follows: The fault, dear liberals, lies not in our political stars, but in ourselves, that we are underlings. It’s not necessarily a new thought, but it packs a punch, especially as Reed has organized and expressed it. [..]

Reed’s analysis, while stated harshly at times, is very much on point. There’s very little “left” left in American politics. But his outlook seems overly pessimistic, and it runs the risk of discouraging the very people who might someday help rebuild an American left. They’re more likely to come together around a concrete agenda built on leftist principles such as job creation, fair wages, and a stronger social safety net. It’s possible to be positive without being Pollyanna-ish.

Ralph Nader: Wanted: Modestly Enlightened Very Rich People (MERPs) for 2016

During election season, how often do you hear the phrase “vote for the least worst choice”? This philosophy has become the unfortunate mindset of too many American voters on their way to the polls. Just hold your nose and cast your vote and don’t disturb the status quo.

What has this trend gotten us? The Democrat and Republican two-party duopoly has led us down a road to a severely diminished and ineffective democracy. Look at the effects of the two-party grip on our elections — the common funding of mainstream candidates by the same privileged commercial interests, the exclusion of independent or third-party candidates through ballot access hurdles and litigious harassment, and exclusion from the big-audience debates. The use of gerrymandering by Republicans and Democrats has created one-party dominated districts and eliminated political competition in many states. Not voting at all out of sheer disgust is seen as a legitimate voting choice by many. There is, unfortunately, no binding “None of the Above” option on the ballot to allow for a no-confidence vote if the choice of candidates is unsatisfactory to voters.

Robert Reich; The Real Job Killers

House Speaker John Boehner says raising the minimum wage is “bad policy” because it will cause job losses.

The U.S. Chamber of Commerce says a minimum wage increase would be a job killer. Republicans and the Chamber also say unions are job killers, workplace safety regulations are job killers, environmental regulations are job killers, and the Affordable Care Act is a job killer. The California Chamber of Commerce even publishes an annual list of “job killers,” including almost any measures that lift wages or protect workers and the environment.

Most of this is bunk. [..]

For one thing, a higher minimum wage doesn’t necessarily increase business costs. It draws more job applicants into the labor market, giving employers more choice of whom to hire. As a result, employers often get more reliable workers who remain longer — thereby saving employers at least as much money as they spend on higher wages.

Josh Levy and Hannah Sassaman: Remember When We Toppled SOPA/PIPA in Just 24 Hours? How the People Can Still Win on Net Neutrality

When it comes to limiting digital rights, big companies are in cahoots with governments like never before. But the belief that everyone deserves safe, affordable, and private access to the Internet is taking off.

2014 is already shaping up as a defining year for digital rights. A federal court just killed Net Neutrality. The U.S. government is spying on millions of individuals as well as organizations, companies, and governments, provoking an outcry from both newer organizers and communities that have long labored under government and corporate surveillance. Congress is poised to rubber-stamp a trade agreement that could threaten Internet freedom worldwide. And we’re still mourning the loss of the inspirational Aaron Swartz, who fought for free and universal access to information.

The idea that the Internet is a space where all voices have the same right to be heard is common sense to millions. The principle that we should be free to access information online-and in private-without the interference of companies or governments resonates across the political spectrum.

David Sirota: How the Rich Became Dependent on Government Welfare

Remember when President Obama was lambasted for saying “you didn’t build that”? Turns out he was right, at least when it comes to lots of stuff built by the world’s wealthiest corporations. That’s the takeaway from this week’s new study of 25,000 major taxpayer subsidy deals over the last two decades.

Entitled “Subsidizing the Corporate One Percent,” the report from the taxpayer watchdog group Good Jobs First shows that the world’s largest companies aren’t models of self-sufficiency and unbridled capitalism. To the contrary, they’re propped up by billions of dollars in welfare payments from state and local governments.

Such subsidies might be a bit more defensible if they were being doled out in a way that promoted upstart entrepreneurialism. But as the study also shows, a full “three-quarters of all the economic development dollars awarded and disclosed by state and local governments have gone to just 965 large corporations”-not to the small businesses and startups that politicians so often pretend to care about.

Jeff Biggers: Should Sierra Club Endorse Coal Rush/Fracking Gov. Quinn-Or Call Out Environmental Disaster?

Is it enough for Illinois Gov. Pat Quinn and state treasurer candidate Mike Frerichs to hustle today to purge their campaigns of tainted coal industry contributions from a growing mine safety regulator scandal, or should citizens groups and environmentalists hold the Democratic candidates accountable for their full-throttle push behind the state’s unprecedented coal mining rush and spiraling fracking debacle?

Questions abound in Illinois, where coal mining production and its toxic slurry fallout has skyrocketed by a mind-boggling 70 percent during the Quinn administration, as Gov. Quinn also touts a controversial and widely denounced fracking regulation law, opening the floodgates for oil and natural gas drilling in the state’s beloved Shawnee forest region.

Earlier this week, in fact, despite a public promise by Quinn’s deputy chief of staff that no fracking permits would be issued without strengthened fracking rules, Quinn apparently intervened to push through a second horizontal drilling permit for Denver-based Strata-X Energy.

Punting the Pundits

“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”.

Follow us on Twitter @StarsHollowGzt

Paul Krugman: No Big Deal

Everyone knows that the Obama administration’s domestic economic agenda is stalled in the face of scorched-earth opposition from Republicans. And that’s a bad thing: The U.S. economy would be in much better shape if Obama administration proposals like the American Jobs Act had become law.

It’s less well known that the administration’s international economic agenda is also stalled, for very different reasons. In particular, the centerpiece of that agenda – the proposed Trans-Pacific Partnership, or T.P.P. – doesn’t seem to be making much progress, thanks to a combination of negotiating difficulties abroad and bipartisan skepticism at home.

And you know what? That’s O.K. It’s far from clear that the T.P.P. is a good idea. It’s even less clear that it’s something on which President Obama should be spending political capital. I am in general a free trader, but I’ll be undismayed and even a bit relieved if the T.P.P. just fades away.

New York Times Editorial Board: Business and the Minimum Wage

Much of the discussion about the Democratic proposal to raise the minimum wage to $10.10 an hour by 2016 has rightly focused on the workers who will clearly benefit from the move. But what about businesses? How would higher wages affect them?

The answer – contrary to a great deal of reflexive hand-wringing by some conservative think tanks and politicians – is surprisingly positive. Scholarly studies and the experience of businesses themselves show that what companies lose when they pay more is often offset by lower turnover and increased productivity. Businesses are also able to deal with higher costs by modestly increasing prices and by giving smaller increases to higher-paid employees. [..]

The argument that a higher minimum wage would hurt business is old and tired. There is clear and compelling evidence that the economy and companies enjoy real benefits when workers are paid more.

Richard (RJ) Eskow: The Covenant: Why Wall Street Gives Trade Reps Big Paydays … In Advance

If you take the king’s shilling, says the old saying, then you do the king’s bidding. So what happens when you take 100 million of them?

Here’s one possible answer: You negotiate trade deals like NAFTA and the Trans Pacific Partnership (TPP), the new pact that the administration is currently trying to ram through Congress.  A recent report confirms that some of the officials crafting this latest agreement were paid handsomely by the Wall Street institutions who stand to benefit from them.

As the United States Trade Representative, Michael Froman has primary responsibility for the TPP. A new investigation from Republic Report reveals that Froman received more than $4 million in payouts from his then-employer Citigroup as he was leaving to join the Obama administration.

Robert L. Borosage: Tax Reform: Republicans Abandon Their Own Baby

Remember the Republican promises about comprehensive tax reform? A flatter, simple tax code. Lower rates, paid for by closing loopholes. Well, never mind. [..]

Well, now we know. When Dave Camp, Republican Chair of the House Ways and Means Committee, unveiled comprehensive tax reform three years in the making, Republicans ran for the exits. Senate leader Mitch McConnell announced, “I have no hope for that happening this year.” House Speaker John Boehner did his imitation of a 5-year-old, muttering “blah, blah, blah” when asked on about the details of the Camp reform, saying that this was only the “beginning of a conversation, a discussion draft.” That’s the Republican position: Comprehensive tax reform, flatter, simpler lower taxes, centerpiece of the Republican growth agenda — ah, forgeddaboutit.

Karen Breenberg: The Five Commandments of Barack Obama

In January 2009, Barack Obama entered the Oval Office projecting idealism and proud to be the constitutional law professor devoted to turning democratic principles into action.  In his first weeks in office, in a series of executive orders and public statements, the new president broadcast for all to hear the five commandments by which life in his new world of national security would be lived.

Thou shalt not torture.

Thou shalt not keep Guantanamo open.

Thou shalt not keep secrets unnecessarily.

Thou shalt not wage war without limits.

Thou shalt not live above the law.

Five years later, the question is: How have he and his administration lived up to these self-proclaimed commandments?

Let’s consider them one by one:[..]

Five years later, Obama’s commandants need a rewrite.  Here’s what they should now look like and, barring surprises in the next three years, these, as written, will both be the virtual law of the land and constitute the Obama legacy.

Thou shalt not torture (but thou shalt leave the door open to the future use of torture).

Thou shalt detain forever.

Thou shalt live by limitless secrecy.

Thou shalt wage war everywhere and forever.

Thou shalt not punish those who have done bad things in the name of the national security state.

Robert Johnson: The Political Underbelly of the Pensions Crisis: What Broke the System, and How Do We Fix It?

Since the beginning of the Great Recession, policymakers and reporters have spoken of a growing crisis in public pensions. Many state and local governments are struggling to meet their obligations to retirees, and the easiest explanation is that government workers are overpaid and their pensions are unaffordable. But the evidence suggests that the pensions crisis is both less pervasive and more complex than that. Beyond the economic crisis, which put enormous pressure on state and municipal budgets, a range of factors including poor decision-making and the influence of big money interests has led to the underfunding of some state and city public pensions. With a clearer understanding of the problem, we can begin to take steps to solve it and keep our promises to public workers. [..]

The pensions crisis has far-reaching implications for the future of the U.S. economy: the state and local government sector is about 14 percent of the American workforce. Failure to uphold the promises we’ve made to current workers and retirees would create a brain drain in the public sector, drive down private-sector wages, exacerbate inequality, and lead to more economic volatility. The good news appears to be that there are a large number of pension plans that are solvent thanks to prudent management. The real problem rests with the governments of a few states that have historically failed to provision adequately for their pension obligations and are increasingly turning to riskier investment assets. These problems can be solved, but it will require substantial reform and swift and collective action.

The Demise of Liberal in America

The Surrender of America’s Liberals

In a Web-exclusive interview, political scientist Adolph Reed Jr. talks with Bill Moyers about his new article in the March issue of Harper’s Magazine – a challenge to America’s progressives provocatively titled, “Nothing Left: The Long, Slow Surrender of American Liberals.”

In the piece, Reed writes that Democrats and liberals have become too fixated on election results rather than aiming for long term goals that address the issues of economic inequality, and that the administrations of Bill Clinton and Barack Obama too often acquiesced to the demands of Wall Street and the right.

As a result, Reed tells Moyers, the left is no longer a significant force in American politics. “If we understand the left to be anchored to our convictions that society can be made better than it actually is, and a commitment to combating economic inequality as a primary one, the left is just gone.”

Liberals Face a Hard Day’s Knight?

By Michael Winship, Moyers and Company

Battered Knight photo Harpers-1403-302x410_zpsef237499.png That’s a pretty pathetic knight up there on the cover of the March issue of Harper’s Magazine. Battered and defeated, his shield in pieces, he’s slumped and saddled backwards on a Democratic donkey that has a distinctly woeful – or bored, maybe – countenance. It’s the magazine’s sardonic way of illustrating a powerful throwing down of the gauntlet by political scientist Adolph Reed, Jr. He has challenged the nation’s progressives with an article in the magazine provocatively titled “Nothing Left: The Long, Slow Surrender of American Liberals.”

His thesis flies in the face of a current spate of articles and op-ed columns touting a resurgence of progressive politics within the Democratic Party – often pointing to last year’s elections of Senator Elizabeth Warren in Massachusetts and Bill de Blasio as mayor of New York City as evidence – although at the same time many of the pieces note that the wave is smashing up against a wall of resistance from the corporate wing of the party. [..]

Reed says that the presidencies of Democrats Bill Clinton and Barack Obama too often acquiesced to the demands of Wall Street and the right. Of Clinton’s White House years, he clams, “It is difficult to imagine that a Republican administration could have been much more successful in advancing Reaganism’s agenda.” And President Obama “has always been no more than an unexceptional neo-liberal Democrat with an exceptional knack for self-presentation persuasive to those who want to believe, and with solid connections and considerable good will from the corporate and financial sectors… his appeal has always been about the persona he projects – the extent to which he encourages people to feel good about their politics, the political future, and themselves through feeling good about him – than about any concrete vision or political program he has advanced. And that persona has always been bound up in and continues to play off complex and contradictory representations of race in American politics.”

“The left has no particular place it wants to go,” Reed asserts. “And, to rehash an old quip, if you have no destination, any direction can seem as good as any other… the left operates with no learning curve and is therefore always vulnerable to the new enthusiasm. It long ago lost the ability to move forward under its own steam…”

Up dated with a link to Prof. Reid’s article in Harper’s Magazince

The Long, Slow Surrender of American Liberals

For nearly all the twentieth century there was a dynamic left in the United States grounded in the belief that unrestrained capitalism generated unacceptable social costs. That left crested in influence between 1935 and 1945, when it anchored a coalition centered in the labor movement, most significantly within the Congress of Industrial Organizations (CIO). It was a prominent voice in the Democratic Party of the era, and at the federal level its high point may have come in 1944, when FDR propounded what he called “a second Bill of Rights.” Among these rights, Roosevelt proclaimed, were the right to a “useful and remunerative job,” “adequate medical care,” and “adequate protection from the economic fears of old age, sickness, accident, and unemployment.”

The labor-left alliance remained a meaningful presence in American politics through the 1960s. What have become known as the social movements of the Sixties – civil rights activism, protests against the Vietnam War, and a renewed women’s movement – were vitally linked to that egalitarian left. Those movements drew institutional resources, including organizing talents and committed activists, from that older left and built on both the legislative and the ideological victories it had won. But during the 1980s and early 1990s, fears of a relentless Republican juggernaut pressured those left of center to take a defensive stance, focusing on the immediate goal of electing Democrats to stem or slow the rightward tide. At the same time, business interests, in concert with the Republican right and supported by an emerging wing of neoliberal Democrats, set out to roll back as many as possible of the social protections and regulations the left had won. As this defensiveness overtook leftist interest groups, institutions, and opinion leaders, it increasingly came to define left-wing journalistic commentary and criticism. New editorial voices – for example, The American Prospect – emerged to articulate the views of an intellectual left that defined itself as liberal rather than radical. To be sure, this shift was not absolute. Such publications as New Labor Forum, New Politics, Science & Society, Monthly Review, and others maintained an oppositional stance, and the Great Recession has encouraged new outlets such as Jacobin and Endnotes. But the American left moved increasingly toward the middle.

Today, the labor movement has been largely subdued, and social activists have made their peace with neoliberalism and adjusted their horizons accordingly. Within the women’s movement, goals have shifted from practical objectives such as comparable worth and universal child care in the 1980s to celebrating appointments of individual women to public office and challenging the corporate glass ceiling. Dominant figures in the antiwar movement have long since accepted the framework of American military interventionism. The movement for racial justice has shifted its focus from inequality to “disparity,” while neatly evading any critique of the structures that produce inequality.

Punting the Pundits

“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”.

Follow us on Twitter @StarsHollowGzt

Dean Baker: Time to tax Wall Street

Horror stories of obnoxious investment bankers should make the public scream, ‘Enough!’

Many people already had low opinions of the Wall Street elite. I’m referring to the investment-banker types who get incredibly rich through financial manipulations, government bailouts and implicit government guarantees provided for too-big-to-fail banks. But a recent New York magazine piece showed that even the most jaded were being too generous in their assessment of this gang.

Kevin Roose, who was working as a New York Times reporter at the time, managed to infiltrate a black-tie party at the St. Regis Hotel sponsored by a secret Wall Street fraternity. The so-called Kappa Beta Phi (the reverse of Phi Beta Kappa, the academic honor society) was not made up of a bunch of college kids or recent grads. It featured many of the leading figures on Wall Street – multimillionaires and billionaires, all of whom were well past the age at which we expect people to start being responsible for their actions. [..]

The anger prompted by Roose’s account makes this a great time to bring back the idea of taxing their speculation. While Dodd-Frank reforms will curb some of the worst abuses, the Wall Streeters are still making huge fortunes shuffling money rather than doing anything productive. A modest tax can raise a huge amount of money for productive ends, such as infrastructure and education, while making shuffling money a bit less profitable.

David Cay Johnston: The shocking numbers behind corporate welfare

Boeing and its stockholders fly high on tax dollars

State and local governments have awarded at least $110 billion in taxpayer subsidies to business, with 3 of every 4 dollars going to fewer than 1,000 big corporations, the most thorough analysis to date of corporate welfare revealed today.

Boeing ranks first, with 137 subsidies totaling $13.2 billion, followed by Alcoa at $5.6 billion, Intel at $3.9 billion, General Motors at $3.5 billion and Ford Motor at $2.5 billion, the new report by the nonprofit research organization Good Jobs First shows.

Dow Chemical had the most subsidies, 410 totaling $1.4 billion, followed by Warren Buffett’s Berkshire-Hathaway holding company, with 310 valued at $1.1 billion.

The figures were compiled from disclosures made by state and local government agencies that subsidize companies in all sorts of ways, including cash giveaways, building and land transfers, tax abatements and steep discounts on electric and water bills.

In fact, the numbers significantly understate the true value of taxpayer subsidies to businesses, for reasons explained below.

Richard (RJ) Eskow: The President Says the ‘Era of Austerity’ Is Over — Is It?

The nation has been treated to a sneak preview of President Obama’s 2015 budget, scheduled to be released next Tuesday. As we asked in Part 1 of this two-part budget update, that’s an occasion for reflecting on the nature of a White House budget. Is it a negotiating document? A vision statement? A “political treatise”? [..]

We’ve been given no indication that the president or his advisers understand what a grave mistake it was to embrace the deficit-cutting rhetoric of the right, to appoint austerians to lead a Presidential Deficit Commission, or of extending the austerity framework even to programs like Social Security (which does not contribute to the federal deficit).

Instead we’re being told that the president’s plan spending increases (more about those in a moment) are “fully paid for,” a phrase which suggests that austerity’s ghost still lingers.

Eugene Robinson: GOP Crocodile Tears Over Jobs

At the risk of repeating myself, the federal minimum wage is far too low and needs to be raised. Republicans who claim to be worried about lost jobs can dry their crocodile tears, because a few simple measures would get all those jobs back-and lots more.

It has been amusing to watch GOP grandees try to paint themselves as champions of the working stiff. This new appreciation for the struggles of low-wage earners was prompted by a report from the nonpartisan Congressional Budget Office (CBO), which estimates that raising the minimum wage from $7.25 to $10.10, as President Obama proposes, would result in the loss of 500,000 jobs. [..]

Maybe we should all take a deep breath and look at the big picture. The purpose of raising the minimum wage is to give those at the bottom of the pay scale something that more closely approximates a living wage. It strikes me as obscene for conservatives to prattle on about the “dignity of work” when workers can toil long and hard in full-time jobs and yet their families can still be poor and in need of government assistance.

Sarah Anderson: Without any Grassroots, This Austerity Group Withered

The American people know a fake when they see it.

The austerity mania that plagued our political system for four years is finally subsiding. The latest sign is President Barack Obama’s decision to nix the Social Security cuts he had previously included in his budget proposal.

This was a body blow to the most powerful pro-austerity force in Washington – the Fix the Debt campaign. Starting in 2012, this fake grassroots – or “astroturf” – organization had deployed more than 100 CEOs to try to persuade the nation that our economic survival depended on expanding tax breaks for big corporations and slashing earned benefit programs.

Fix the Debt once boasted a budget of $40 million. Today, it’s shedding staff and going into hibernation, having failed to win any of their top priorities.

Sam Pizzigati: The Mess on Our ‘Information Superhighway’

Why should moving data around be any different from moving people? No private party ought to be getting rich off a basic public trust.

Back in the early 1990s, the infancy of the Internet Age, our hippest policy wonks orated endlessly about the emerging “information superhighway.”

But that mouthful of a moniker would soon fall out of fashion. Anyone today who talks “information superhighway” comes across as hopelessly uncool. The irony here? If we still talked about the Internet as a “superhighway,” maybe we wouldn’t find ourselves in the online mess that [now envelops v] us.

Americans currently pay much more for Internet than just about everybody else in the developed world. Other countries have established [fast, cheap Internet access v] as a given of modern life. In the United States, we surf the Net at Model-T speeds – and tens of millions of Americans still have no broadband access at all.

This pitiful situation may soon get worse. Two corporate giants that share significant responsibility for our current digital state of affairs, Comcast and Time Warner, are now seeking regulatory approval for a $45 billion merger that would leave Comcast controlling the bulk of the nation’s broadband access.

The Truth About the Pentagon’s New Budget

The Secretary of Defense Chuck Hagel announced that the upcoming Pentagon budget would focus on the 21st century realities of warfare with more emphasis on targeted assassinations and cyberwarfare. It also cuts the strength of the Army to pre-World War Two levels relying more heavily on the National Guard.

   Defense Secretary Chuck Hagel plans to shrink the United States Army to its smallest force since before the World War II buildup and eliminate an entire class of Air Force attack jets in a new spending proposal that officials describe as the first Pentagon budget to aggressively push the military off the war footing adopted after the terror attacks of 2001 [..]

   The new American way of war will be underscored in Mr. Hagel’s budget, which protects money for Special Operations forces and cyberwarfare. And in an indication of the priority given to overseas military presence that does not require a land force, the proposal will – at least for one year – maintain the current number of aircraft carriers at 11.

The Guard and Reserves, which proved capable in their wartime deployments although costly to train to meet the standards of their full-time counterparts, would face smaller reductions. But the Guard would see its arsenal reshaped.

The Guard’s Apache attack helicopters would be transferred to the active-duty Army, which would transfer its Black Hawk helicopters to the Guard. The rationale is that Guard units have less peacetime need for the bristling array of weapons on the Apache and would put the Black Hawk – a workhorse transport helicopter – to use in domestic disaster relief.

The proposed budget would also eliminate the old U-2 spy plane in favor of unmanned drones and eliminate the entire fleet of Air Force A-10 attack aircraft. However, it does keep the allocations for the controversial F-35 warplane, which has been extremely expensive and has run into costly delays, that the Air Force says it doesn’t want.

There will be pain for the troops, too.

The fiscal 2015 budget also calls for slowing the growth of tax-free housing allowances for military personnel and would reduce the $1.4 billion direct subsidy provided to military commissaries, which would most likely make goods purchased at those commissaries more expensive for soldiers.

The budget also proposes an increase in health insurance deductibles and some co-pays for some military retirees and for some family members of active servicemen.

The savings on groceries will reduced, costing a military family as much as $3000 per year, and pay raises will be capped:

Besides paring back grocery savings, the Pentagon would also cap military pay raises at 1% in 2015 and trim housing subsidies for families who don’t live on bases. They will also no longer be reimbursed for rental insurance.

Families are likely to feel the sharpest pain every week when they shop for their grocery. By the end of the third year, the savings will be slashed by about two-thirds, a senior defense official acknowledged on Monday.

Currently, a family of four can save $4,500 a year at commissaries on average, according to the Defense Commissary Agency, which puts savings around 30% compared to retail grocery stores. Under the new proposal, the savings for a similar family would be closer to $1,500 a year or 10% of a grocery bill at other stores.

Despite these cuts and the claims, this hardly an austerity budget still exceeding the budgets of next ten military budgets in the world combined.

A better idea, as suggested by DSWright at FDL News Desk would be “to rethink 800 military bases and a $700 billion annual budget to defend against an enemy that no longer exists.” But the fear mongers will persist regardless:

Despite ‘historic’ cuts, the US will still have 450,000 active-duty soldiers

By Michael Cohen, The Guardian

The Pentagon is able to maintain a bloated and extravagant military force even when the US faces no actual security threats

Rather than a reflection of a changing global security environment, the growing and continued obsolescence of inter-state war and the country’s lack of interest in future military adventures, the cuts announced yesterday by Hagel are an indication of something else altogether: how tenaciously the Pentagon is able to maintain a bloated and extravagant military force even when the US faces no actual security threats.

Indeed, what was missing from yesterday’s headlines was some much needed context. For example, “smallest size since 1940” sounds, on the surface, like quite a step back. Did Neville Chamberlain rise from his grave and become president of the United States? Let’s put aside for a second that the size of the army in 1940 was about 270,000 and the Marine Corps stood at about 30,000 – a far cry from the proposed 180,000 today.

The truth is the military budget is still bloated with wasted tax dollars that could got to rebuilding the US infrastructure that would create jobs increasing economic growth and reducing income disparity.

One by One They All Fall Down

A federal judge has ruled that the Texas law banning same sex marriage is unconstitutional:

Judge Orlando Garcia issued the preliminary injunction after two gay couples challenged a state constitutional amendment and a longstanding law. He said the couples are likely to win their case and the ban should be lifted, but said he would give the state time to appeal to the 5th Circuit Court of Appeals before do so.

“Without a rational relation to a legitimate governmental purpose, state-imposed inequality can find no refuge in our United States Constitution,” Garcia wrote. “These Texas laws deny plaintiffs access to the institution of marriage and its numerous rights, privileges, and responsibilities for the sole reason that Plaintiffs wish to be married to a person of the same sex.”

The ruling is the latest in a series of victories for gay rights activists following similar decisions in Utah, Oklahoma and Virginia.

But this was the first time a court in the conservative 5th Circuit has reached such a decision. Texas Attorney General Greg Abbott was expected to file an expedited appeal.

That was the good news. The bad news is that the ban will remain in effect until the issue is visited by the U.S. Supreme Court. Or not? I suppose that if SCOTUS refuses to review the case the ban would be lifted. Still, this is good news for marriage equality.

Texas Gay Marriage Ruling

NRCC Bashing Democrats for Supporting Chained CPI

You can tell it’s an election year, all the hypocrisy comes out of the closet:

After spending weeks subjecting the public to unfounded and widely debunked claims that Obamacare contains a hidden “bailout” for private insurers, Republicans have undertaken a complete reversal, and are attacking Democrats for cutting corporate welfare for insurance companies by too much.

Specifically, they’re attacking the Affordable Care Act’s reduction in overpayments to carriers who participate in Medicare Advantage, reflected in lower payment rates for program providers, which were officially announced late last week. [..]

When confronted, they retreat from pretending to oppose the cuts on the merits, to claiming the real problem is that Democrats used the savings from the cuts to fund Obamacare. But this is a non sequitur. A diversion. The attacks specifically express outrage on behalf of seniors who, Republicans claim, will lose doctors or get stuck with higher premiums specifically as a result of the ACA’s Medicare Advantage cuts.

But remember, Republicans actually support the cuts. All of these supposedly horrible things would happen under their plan, too, regardless of how the savings are spent. So right away it’s clear that the attacks are straightforwardly deceitful.

While some the beltway deficit scolds mourn the death of “entitlement reforms,” the The National Republican Campaign Committee has begun attacking Democrats for supporting Simpson-Bowles:

The National Republican Congressional Committee (NRCC) tried a political ju-jitsu on Thursday as it sought to turn former state CFO Alex Sink’s attacks on David Jolly on Social Security against her. Sink, the Democratic candidate, takes on Republican Jolly and Libertarian Lucas Overby in a special congressional election for an open seat in Pinellas County on March 11.

On Thursday, the NRCC bashed Sink for saying she supported Simpson-Bowles.

What digby said:

I have never understood why Democrats who have to run for office are so wedded to the idea that they will be rewarded for being “the adults in the room” and doing the “hard stuff” like cutting Social Security and Medicare benefits but they do. You’d think they’d remember what happened to them in 2010 when the Republicans ran against the Medicare cuts in the health care reforms by portraying them as monsters turning old people into Soylent Green. But they didn’t.

The president may have decided to keep his proposal to cut benefits from his new budget, but it’s quite clear from the talking points that they still very much want to get “credit” for being willing to do it.

Supporting cuts the social safety net, especially in the state of Florida, is not going to fly very well with elderly voters. And, yes, they do vote. So why aren’t Democrats giving the people what they want, an expansion of Social Security and open Medicare to all?  

Punting the Pundits

“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.

Wednesday is Ladies’ Day

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

Follow us on Twitter @StarsHollowGzt

Katrina vanden Heuvel: Stop the Democrats’ surrender to a blue slip

Stop me if you’ve heard this one before: An archaic Senate policy is being used by a shameless Republican minority to obstruct the will of the president – and the people he was elected to represent.

You’d be forgiven for thinking I was referring to the filibuster, which has been the Republicans’ most effective and least democratic method of thwarting the will of the majority.

But no, this is another, more obscure and arguably more ridiculous procedural weapon called a “blue slip.” First instituted in 1917, the blue slip process has allowed individual senators to effectively veto a nominee for a circuit court judgeship who hails from their own state. This privilege has been used sparingly by some Judiciary Committee chairmen and more regularly by others. But in recent months, it has been taken to the extreme. [..]

Like the filibuster, this weapon is rooted in tradition, not the Constitution; it can simply be ignored by the chair of the Judiciary Committee. During George W. Bush’s administration, for instance, then-Judiciary Chairman Orrin Hatch decided that a negative blue slip would not hold up a nominee’s confirmation proceedings.

But because of current Chairman Patrick Leahy’s puzzling adherence to arcane practice, his desire to show courtesy – unreciprocated, of course – to the minority party and President Obama’s unwillingness to put a stop to it, the blue slip process is alive and well. Worse, it’s being used as a weighted bargaining chip, giving two Republican senators more influence over the judicial nomination process than the president himself.

Zoë Carpenter: 20 Years Ago, an Army Veteran Reported a Sexual Assault. She’s Still Waiting for Justice.

When Brenda Hoster publicly accused the sergeant major of the Army of sexually assaulting her, it nearly destroyed her life. She thought it would be worth it.

“I felt like what I did was the right thing, the ethical thing, not just for me but for all military men and women,” Hoster, a retired sergeant major and public affairs specialist, said in one of two phone conversations. Her complaints against the Army’s top enlisted soldier were part of a wave of sex scandals that rocked the military in the 1990s. Today, Congress is still debating how to best reform the military justice system. [..]

But Congress has not yet voted on the most significant and controversial reform proposed-Senator Kirsten Gillibrand’s Military Justice Improvement Act, which would put military lawyers, rather than commanding officers, in charge of sexual assault prosecutions. Victims’ advocates, veterans and some active duty officers argue that forcing victims to report to commanders exposes them to conflicts of interest and retaliation, and disadvantages accused and accuser alike by putting legal decisions in the hands of officers without legal training. Fifty-four senators-including nine Republicans-support Gillibrand’s bill, which the chamber will take up some time in March. The military’s top brass and two key Democrats on the Armed Services Committee, chairman Carl Levin and Claire McCaskill, oppose the measure, saying it would undermine commanders’ ability to enforce order and discipline in the ranks.

Natalia Antonova: Only Ukraine’s People – Not Russia or the West – Can Take It Forward

Ukraine is in a mess. And the first steps must be taken not by politicians but by the people, who must honour life and prevent more violence

In Russia, the Sochi Olympics are over, the metaphoric fairy dust has settled, and the rapidly developing events in Ukraine are at the top of the news agenda. If you stick to watching state television, the picture being painted is a grim one. For the majority of TV commentators following the deadly violence on the streets and the ousting of President Viktor Yanukovych, Ukraine is in free fall. Russian viewers are being warned that dangerous radicalism is spreading practically on their doorstep. [..]

The important thing, right now, is to honour human life – and prevent further violence. And while nothing is certain, I know the possibility is there. I’m a Russian-speaking native of Kiev, with both ethnic Russian and ethnic Ukrainian relatives who certainly manage to not kill each other at the dinner table, not to mention Russian-speaking and Ukrainian-speaking friends and acquaintances from different parts of the country who somehow manage to get along.

Lauren Carasik: The US Should Respect Venezuela’s Democracy

Simplistic end-of-Chavismo narrative callously dismisses Venezuela’s progress

Venezuela is facing a protracted political crisis. Images depicting its streets tell the tale: Student unrest coalesced into massive demonstrations around the country, triggering a violent crackdown on opposition leaders and protesters. The ensuing violence and destructive confrontations over the last several weeks have left at least 13 people dead and scores wounded, with casualties on both sides. Tensions remain high.

Headlines in the United States broadcast unchallenged narratives of widespread discontent with mounting economic woes and denounce the ensuing repression by an unpopular and discredited administration barely clinging to power. But the reality in Venezuela is far more complicated and nuanced than what the media and the U.S. government spin suggests. [..]

Venezuela, to be sure, is not a utopia. Like many of its Latin American neighbors, including close allies of the U.S., it must confront crime, impunity and corruption. The country’s economic troubles are causing real hardship and palpable anxiety, though they are inseparable from the global recession. Despite these challenges, Venezuela has registered tremendous gains in elevating millions of people out of grinding poverty and democratizing a postcolonial country – developments that predictably alienate the country’s elites. However imperfect, reducing Venezuela to a failed socialist experiment run by a repressive autocrat who should be overthrown is a callous dismissal of its laudable progress.

Ana Marie Cox: Who’s the true ‘top conservative on Twitter’ – and does it matter for 2016?

The GOP struggles with the social media generation, but a few are starting to figure it out, especially Governor Chris Christie

It’s no secret that the GOP has been playing catch-up to the massive social media machine built by Obama campaign for years. (The Romney campaign’s deficiencies in that regard were well-documented.) As the Republican party grapples with the large-scale demographic shifts ahead, we thought it might be revealing to see how the 2016 GOP frontrunners have approached the more granular social media. Social media interactions, after all, are much more like old-fashioned politicking than they are like “messaging”: too much polish works against you, humor is at a premium, and the real skill isn’t convincing people so much as working the crowd. So it makes sense to us to ask who’s winning the Twitter Primary.

There’s more to social media than Twitter, of course. But as the political class grows more and more desperate for metrics to measure a race that hasn’t even begun, it makes sense to turn to Twitter: that’s where the journalists hang out, so that’s where a candidate’s image will or won’t get the extra spit shine that only comes with being very good at this very new form retail politics.

Jill Filipovic: Kansas’ anti-gay bill: another attempt to force warped Christianity on others

Conservatives keep trying to use America’s religious freedom as a way to limit everyone else’s rights

Last week, the Kansas House of Representatives passed a bill (pdf) that would have broadly legalized discrimination against gays and lesbians. Luckily, after national outrage, the bill was halted. But the fight isn’t over: the bill’s reliance on religious freedom to justify discrimination is a sign of right-wing efforts to come.

The Kansas bill didn’t become law because the forces behind it are losing. That’s cold comfort to gay Kansans who were just issued a very clear “you are not welcome here” message from their elected officials. The Republican party, whose members have yanked the welcome mat out from under the feet of too many groups, should perhaps consider whether a strategy of alienation is a winning one. After all, are there many strong supporters of this law in Kansas who weren’t already voting Republican? On the flip side, younger voters overwhelmingly support gay rights. And so do gay people – increasingly, so do their families and friends. A plan of aggressively antagonizing LGBT people is not a winning one.

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