Tag: Opinion

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

David A. Stockman: Paul Ryan’s Fairy-Tale Budget Plan

Mr. Stockman was  the director of the Office of Management and Budget from 1981 to 1985 under Pres. Reagan.

Paul D. Ryan is the most articulate and intellectually imposing Republican of the moment, but that doesn’t alter the fact that this earnest congressman from Wisconsin is preaching the same empty conservative sermon.

Thirty years of Republican apostasy – a once grand party’s embrace of the welfare state, the warfare state and the Wall Street-coddling bailout state – have crippled the engines of capitalism and buried us in debt. Mr. Ryan’s sonorous campaign rhetoric about shrinking Big Government and giving tax cuts to “job creators” (read: the top 2 percent) will do nothing to reverse the nation’s economic decline and arrest its fiscal collapse. [..]

In short, Mr. Ryan’s plan is devoid of credible math or hard policy choices. And it couldn’t pass even if Republicans were to take the presidency and both houses of Congress. Mr. Romney and Mr. Ryan have no plan to take on Wall Street, the Fed, the military-industrial complex, social insurance or the nation’s fiscal calamity and no plan to revive capitalist prosperity – just empty sermons.

New York Times Editorial: Missed Chance to Reject Voting Barriers

Judge Robert Simpson of the Commonwealth Court of Pennsylvania seems to assume that legislators have a high-minded public purpose for the laws they pass. That’s why, on Wednesday morning, he refused to grant an injunction to halt a Republican-backed voter ID law that could disenfranchise hundreds of thousands of poor and minority state residents in November. [..]

The requirement will have a disparate impact on minorities, who tend to lack government IDs at a higher rate than the general population and tend to vote Democratic. Judge Simpson acknowledged he was aware of the remark by Michael Turzai, the Pennsylvania House Republican leader, that the voter ID requirement would win the state for Mitt Romney in November. But there was no proof, he said, that other lawmakers shared that view, and, even if partisan interests were part of the motivation for the law, they are not enough to invalidate it.

Bruce A. Dixon: Tired Old So-Called Leftists Give Same Old Excuses For Supporting Obama in 2012

Abject and unwavering support of President Barack Obama on the part of blacks and what used to be called “the left” has made them pretty much irrelevant since Obama emerged as a viable presidential candidate back in mid-2007. After five years of the Age of Obama, four of them as president, one would imagine there are lots of new reasons to endorse him. But even his abject supporters can’t find any.

For more than four years now, we at Black Agenda Report have chronicled the self-silencing and growing irrelevance of black America and what calls itself “the left” in the age of Obama. Black America has arrayed itself as a veritable wall around the First Black President. But it’s not a wall that protects him from racists or Wall Street predators or Pentagon warmongers. The truth has always been that when we stifle our own tongues and circle the wagons trying to silence critics of the White House we only protect the president and his party from accountability to their supposed base: us.

Charlotte Silver: A revolution against ‘the culture of leaks’?

The US government has been intolerant of whistle blowers under the Obama administration.

California Senator Dianne Feinstein is not happy about the leaks. “The torrent of leaks,” as she calls them, inked onto the pages of the New York Times and the Baltimore Sun; leaks of information that once exposed to the light of day can’t be swept back into hiding. Feinstein, as chairman of the US Senate Intelligence Committee, is set to lead the revolution against what she calls “the culture of leaks” sustained by a security-threatening status quo that’s all too tolerant of whistleblowers and whiners.  

Her solution lies in a measure amended to the Intelligence Authorisation Act for the fiscal year 2013.

The proposal, which has been confirmed as “casting a distinct chill over press coverage of national security issues” by New York Times reporter, Scott Shane, cites the proliferation of leaks as evidence that intelligence agencies must institute an “insider threat programme” that will route out potential leakers.

Furthermore, the proposed bill would threaten harsh punishments to all employees of government intelligence agencies, including being stripped of security clearance and loss of pension if found to have “wrongfully” disclosed information. Finally, the provision would place a gag order on former government officials from publically discussing matters for up to one year after leaving the government employment.

Nick Turse: Washington puts its money on proxy war

The US has been training, advising and conducting joint exercises all over the world with “proxy war on its mind”.

In the 1980s, the US government began funnelling aid to Mujahideen rebels in Afghanistan as part of an American proxy war against the Soviet Union. It was, in the minds of America’s Cold War leaders, a rare chance to bloody the Soviets, to give them a taste of the sort of defeat the Vietnamese, with Soviet help, had inflicted on Washington the decade before. In 1989, after years of bloody combat, the Red Army did indeed limp out of Afghanistan in defeat. Since late 2001, the United States has been fighting its former Afghan proxies and their progeny. Now, after years of bloody combat, it’s the US that’s looking to withdraw the bulk of its forces and once again employ proxies to secure its interests there.

From Asia and Africa to the Middle East and the Americas, the Obama administration is increasingly embracing a multi-faceted, light-footprint brand of warfare. Gone, for the moment at least, are the days of full-scale invasions of the Eurasian mainland. Instead, Washington is now planning to rely ever more heavily on drones and special operations forces to fight scattered global enemies on the cheap. A centerpiece of this new American way of war is the outsourcing of fighting duties to local proxies around the world.

Alfred W. McCoy: Impunity at Home, Rendition Abroad

After a decade of fiery public debate and bare-knuckle partisan brawling, the United States has stumbled toward an ad hoc bipartisan compromise over the issue of torture that rests on two unsustainable policies: impunity at home and rendition abroad.

President Obama has closed the CIA’s “black sites,” its secret prisons where American agents once dirtied their hands with waterboarding and wall slamming. But via rendition-the sending of terrorist suspects to the prisons of countries that torture-and related policies, his administration has outsourced human rights abuse to Afghanistan, Somalia, and elsewhere.  In this way, he has avoided the political stigma of torture, while tacitly tolerating such abuses and harvesting whatever intelligence can be gained from them.

This “resolution” of the torture issue may meet the needs of this country’s deeply divided politics. It cannot, however, long satisfy an international community determined to prosecute human rights abuses through universal jurisdiction. It also runs the long-term risk of another sordid torture scandal that will further damage U.S. standing with allies worldwide.

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”.

Wednesday is Ladies’ Day

Follow us on Twitter @StarsHollowGzt

Katrina vanden Heuvel: Paul Ryan: Cruel, Not Courageous

A word of advice: If you’re announcing the most radical and reactionary Republican ticket in half a century, don’t do it on a ship named for the birthplace of progressivism, to Aaron Copland’s “Fanfare for the Common Man.”

But that is precisely the kind of audacity congressman-turned-vice presidential-nominee Paul Ryan brings to the flailing Romney campaign. Courage! Vision! And that hair! (Within minutes of the announcement, @VPRyansCowlick boasted dozens of follicle-fixated followers.)

Ryan is the rare Washington pseudo-wonk described by serious people of both parties in the adulatory terms typically reserved for battlefield heroics. “Courageous.” “Politically gutsy.” Author of “the most comprehensive and most courageous budget reform proposal”-wait for it-“in our lifetimes.” He is Jimmy Stewart, if Mr. Smith had spent less time establishing a boys’ camp and more time pretending to pay down the debt, one food stamp at a time.

Therein lies the rub. Ryan’s budget isn’t courageous-it’s just cruel. Three-fifths of the cuts he wants would hit those with low incomes, while those who have the most would continue getting more. It’s no wonder the former altar boy has had his knuckles rapped by a group of nuns for peddling a budget that “rejects church teaching about solidarity, inequality, the choice for the poor, and the common good.”

Bryce Covert: Paul Ryan’s Budget Deals a Body Blow to Women’s Bottom Line

You’d have to live under a rock to miss the news on Saturday morning that Mitt Romney has picked Congressman Paul Ryan to be his running mate. The announcement immediately kicked up a flurry of speculation: what does Ryan bring to the ticket that Romney wants? One thing he does not bring: women’s votes. Mitt Romney has been dogged by a problem with female voters, lagging in their support far behind President Obama, particularly among single women. But where Romney has been vague and flip-floppish on many issues, Ryan has long been very clear about his staunch support for policies that will hurt women economically.

Most people know Paul Ryan for his budget plans. There’s plenty of pain to be found in his budget for the lower and middle class, but women in particular make out poorly (literally) if his budget gets a presidential signature. Add in other policies he’s proposed or supported, and the picture becomes even bleaker.

Laura Flanders; Bill Moyers: For Campaign Cash, TV Gives Back Nothing

I had the opportunity to interview author and broadcaster Bill Moyers last year, just before his latest TV show launched. Then, we were a full year ahead of the presidential election. Now, as we head into the cable-news crush called convention season, I watched our conversation again. It’s even more pointed now. Says Moyers: “The scandal (one part of the scandal), is local television stations make enormous sums of money from all of the campaigning that goes on every two or fours years… and they give back nothing for that… Nothing. They should be giving “free time” to the candidates that have real debate with citizens and answer questions. Instead they write carefully manufactured commercials that are exploitive and misleading and demeaning.”

Read Moyers, and then read this speech from Newton Minnow, then chair of the Federal Communication Commission. Minnow said it best, when he said it 1961: “In a time of peril and opportunity, the old complacent, unbalanced fare of action-adventure and situation comedies is simply not good enough.”

Today, cable news has turned our elections themselves into unbalanced action adventures or worse, situation comedies. And public television, barring shows like Moyers’ own, is barely keeping afloat – or keeping anyone awake.  Given our situation as a nation, maybe the last word should be tragedies.

Terry Tempest Williams: A Generational Stance on Behalf of the Arctic Ocean

In less than a week, the Obama administration may well approve Shell Oil’s plans to do exploratory drilling in America’s Arctic Ocean. It would be an unmitigated disaster because there is no proven way to clean up an oil spill in the harshness of Arctic conditions. It should be stopped.

We must resist and insist that President Obama and Secretary Salazar deny this drilling permit to Shell Oil on two points: The Department of Interior has refused to issue an environmental impact statement to access the risks, impacts, and potential damages that Shell Oil’s drilling plan might have on the fragile and complex ocean environment and its inhabitants. Instead, the Bureau of Ocean Energy Management, Regulation and Enforcement has issued what is called a “Finding of No Significant Impact. This is a lie. 2) Shell Oil has not been able to produce a comprehensive strategy or plan of action, by their own admission, outlining their what they would do should an oil spill occur in Arctic waters.

Katha Politt: Gun Control? Dream On.

Why am I even bothering to write about gun control? That was going to be my opening sentence when this column was to be focused on the Aurora, Colorado, movie-theater massacre: twelve people murdered and fifty-eight wounded, some very severely, by James Holmes, demented neuroscience graduate student. Then came the massacre at the Sikh temple in Oak Creek, Wisconsin: six killed and three wounded by Wade Michael Page, 40-year-old white supremacist and leader of a racist hardcore band called End Apathy. And even after this horrific crime, which the FBI is calling “domestic terrorism,” my opening is the same: Why am I even bothering to write about gun control? End apathy? Fat chance. If even the shooting of Gabrielle Giffords, one of Congress’s own, by Jared Loughner, another hyperarmed madman, didn’t move her pro-gun colleagues or their constituents, nothing will.

Remember the Million Mom March? In May 2000, 750,000 women gathered on the National Mall to call for what are often referred to as “reasonable” controls on guns, like background checks at gun shows and handgun registration (as opposed to “unreasonable” curbs like making it illegal to buy weapons intended to kill people-for example, handguns or AK-47s, let alone 6,000 rounds of ammunition on the Internet). Today you might as well stand on the Mall and sing “Where Have All the Flowers Gone?”

Ellen Brown: Saving the Post Office: Letter Carriers Consider Bringing Back Banking Services

On July 27, 2012, the National Association of Letter Carriers adopted a resolution at their National Convention in Minneapolis to investigate establishing a postal banking system.  The resolution noted that expanding postal services and developing new sources of revenue are important to the effort to save the public Post Office and preserve living-wage jobs; that many countries have a successful history of postal banking, including Germany, France, Italy, Japan, and the United States itself; and that postal banks could serve the 9 million people who don’t have bank accounts and the 21 million who use usurious check cashers, giving low-income people access to a safe banking system.  “A USPS bank would offer a ‘public option’ for banking,” concluded the resolution, “providing basic checking and savings – and no complex financial wheeling and dealing.”

The USPS has been declared insolvent, but it is not because it is inefficient (it has been self-funded throughout its history).  It is because in 2006, Congress required it to prefund postal retiree health benefits for 75 years into the future, an onerous burden no other public or private company is required to carry.  The USPS has evidently been targeted by a plutocratic Congress bent on destroying the most powerful unions and privatizing all public services, including education.  Britain’s 150-year-old postal service is also on the privatization chopping block, and its postal workers have also vowed to fight.  Adding banking services is an internationally proven way to maintain post office solvency and profitability.

Medea Benjamin: At Drone Convention, Zero Tolerance for Peace

When are we, as a nation, going to have a frank discussion about drones and remote-controlled killing? One might think that such a dialogue could take place when thousands of people come together, once a year, at the gathering of the Association of Unmanned Vehicle Systems International (AUVSI). Wrong.

But AUVSI, the lobby group for the drone industry, brooked no dissent at its August 6-9 Las Vegas Convention. When I, as author of a new book Drone Warfare: Killing by Remote Control, tried to rent a room at the Convention Center to give a presentation on my book, AUVSI vetoed my request. When I tried to register as a journalist, I was told that I did not meet their criteria, but they refused to say what that criteria was. And after registering online as a normal participant and paying the $200 fee, when I appeared to get my badge I was yanked off the line, surrounded by police, and told I would be arrested if I set foot in the Convention Center during the duration of the gathering.

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: Romney/Ryan: The Real Target

So, let me clarify what I believe is really going on in the choice of Paul Ryan as VP nominee. It is not about satisfying the conservative base, which was motivated anyway by Obama-hatred; it is not about refocusing on the issues, because R&R are both determined to avoid providing any of the crucial specifics about their plans. It is – as Jonathan Chait also seems to understand – about exploiting the gullibility and vanity of the news media, in much the same way that George W. Bush did in 2000. [..]

So, a memo to the news media: you have now become players in this campaign, not just reporters. Mitt Romney isn’t seeking a debate on the issues; on the contrary, he’s betting that your gullibility and vanity will let him avoid a debate on the issues, including the issue of his own fitness for the presidency. I guess we’ll see if it works.

Richard (RJ) Eskow: Happy Birthday, Social Security! Now About Your Gift …

Today, August 14, is Social Security’s 77th birthday. That presents us with a difficult challenge: What do you give a government program that has everything … except a secure future of its own?

Let’s take a look at the options for this year’s celebration.

The Gift Pile

Talk about an embarrassment of riches! Look what Social Security can already list among its gifts. It’s got:

Hundreds of millions of people who love it. Polls consistently show that Social Security, along with Medicare, is one of our most popular government programs.

The best balance sheet in the entire government. Despite all the scare talk (which we’ll get to shortly), no program in US history is on a firmer financial footing than Social Security. It’s a stand-alone program which isn’t allowed to contribute to the overall government deficit, and is absolutely solvent until the mid-2030’s.

No other program can say that.

New York Times Editorial: A Question of Improper Money Flows

Standard Chartered, the London-based bank, may soon reach a settlement with bank regulators to resolve charges that it violated American banking rules that restrict transactions with Iranian clients. The rules are intended to impede money flows that might finance terrorism and weapons of mass destruction.

The bank has said it “strongly rejects” allegations that it improperly processed $250 billion of transactions for Iranians. The claims were leveled last week by New York’s Department of Financial Services, a regulatory agency recently formed by merging the state’s banking and insurance departments. But if the bank does not settle the charges, its officials will have to rebut them this week at a meeting called by Benjamin Lawsky, the former federal prosecutor who leads the department. It seems a safe bet that the officials would rather settle than have to defend the bank’s actions, with specificity, before the authorities. [..]

While authorities usually act together in such cases, the feds have been on the Standard Chartered case for years without bringing charges or reaching a conclusion.  [..]

Mr. Lawsky’s challenge is to work cooperatively with federal regulators, while standing his ground.

Robert Dreyfuss: Obama’s Regime-Change Policy in Syria

The Pentagon, the State Department and the CIA are making war plans for Syria. And they’re pretty much announcing them.

Over the weekend, on a visit to Turkey, a NATO member, to meet with Syrian opposition leaders and Foreign Minister Ahmet Davutoglu, the Turkish foreign minister, Secretary of State Hillary Clinton explicitly declared that Washington’s policy toward Syria is now in what she called the “operational” phase. “We have been closely coordinating over the course of this conflict, but now we need to get into the real details of such operational planning,” she said adding: “Our intelligence services, our military have very important responsibilities and roles to play, so we are going to be setting up a working group to do exactly that.”

Make no mistake: this is regime change by force. It’s not exactly like Iraq, and it’s not exactly like Libya (yet)-but it’s regime change by force anyway.

Ari Berman: Romney-Ryan Economic Plans Would Increase Unemployment, Deepen Recession

Much has been written in recent days about Paul Ryan’s plans to privatize Medicare, dismantle Social Security, massively cut taxes for the wealthy and drastically redistribute income from the bottom to the top.

Yet perhaps the most disturbing feature of Ryan’s budget is that, in the midst of a prolonged recession, it would cost the US economy millions of jobs. Ryan’s 2011 budget plan proposes what the Center for Budget and Policy Priorities calls “the most severe and wrenching budget cuts in US history-two-thirds of which would come from programs for people of low or moderate incomes” (Medicaid, Pell grants, food stamps and low-income housing). According to the Economic Policy Institute, “the shock to aggregate demand from near-term spending cuts would result in roughly 1.3 million jobs lost in 2013 and 2.8 million jobs lost in 2014, or 4.1 million jobs through 2014.”

Robert Kuttner: Food and the Fed

The record drought and crop failures will create shortages, especially of corn, and will increase the prices of many foods that either contain the stuff or use it to feed livestock. That, in turn, will cause an uptick in the rate of inflation. And higher prices will give the inflation hawks in the Federal Reserve more ammunition in their insane campaign for higher interest rates.

At the most recent meeting of its policy-setting Open Market Committee, Aug. 7, the Fed declined to lower interest rates further, under pressure from inflation hawks. The vote to keep rates at their present level was only 7-3, with the dissenters favoring tighter money. [..]

It’s also clear that the insane weather is a clarion call to get far more serious about global climate change. Readers of my stuff will note that, like columnist Gail Collins on the subject of Mitt Romney’s dog-on-the-roof, I never pass up an opportunity to point out that World War II cured the Great Depression; and that today we need massive social investment to cure slumping demand.

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

Joseph E. Stiglitz and Mark Zandi: The One Housing Solution Left: Mass Mortgage Refinancing

MORE than four million Americans have lost their homes since the housing bubble began bursting six years ago. An additional 3.5 million homeowners are in the foreclosure process or are so delinquent on payments that they will be soon. With 13.5 million homeowners underwater – they owe more than their home is now worth – the odds are high that many millions more will lose their homes. [..]

Late last month, the top regulator overseeing Fannie Mae and Freddie Mac blocked a plan backed by the Obama administration to let the companies forgive some of the mortgage debt owed by stressed homeowners. While half a million homeowners could be helped with a principal writedown, the regulator, Edward J. DeMarco, argued (we believe incorrectly) that helping some homeowners might cause others who are paying on their loans to stop so that they also could get their mortgages reduced.

With principal writedown no longer an option, the government needs to find a new way to facilitate mass mortgage refinancings. With rates at record lows, refinancing would allow homeowners to significantly reduce their monthly payments, freeing up money to spend on other things. A mass refinancing program would work like a potent tax cut.

Robert Reich: The Ryan Choice

Paul Ryan is the reverse of Sarah Palin. She was all right-wing flash without much substance. He’s all right-wing substance without much flash.

Ryan is not a firebrand. He’s not smarmy. He doesn’t ooze contempt for opponents or ridicule those who disagree with him. In style and tone, he doesn’t even sound like an ideologue — until you listen to what he has to say.

It’s here — in Ryan’s views and policy judgments — we find the true ideologue. More than any other politician today, Paul Ryan exemplifies the social Darwinism at the core of today’s Republican Party: Reward the rich, penalize the poor, let everyone else fend for themselves. Dog eat dog.

Richard (RJ) Eskow: “President Ryan” – Another Shrewd Move in the Corporate State’s Long Game

Paul Ryan’s looks are often compared to an actor’s, and that’s no accident: He’s being groomed for the role of a lifetime. When Mitt Romney accidentally introduced Ryan as “the next President” he may have been displaying the same predilection for accidental honesty – for truth-telling as political gaffe – that he showed when he praised Israel’s socialized health system.

And Romney may be right. The most likeable and electable extremist in the country just became the GOP’s 2016 front-runner. That’s no accident either.

All the signs suggest that the economy will struggle for years unless progressive steps are taken. Worse, another steep decline into recession or depression could occur at any time. If Obama’s re-elected and we’re still suffering in 2016, as now seems likely, our “electable extremist” will be in the perfect position to become the next President.

Heads we win, says Corporate America, and tails you lose.

Raymond J. Learsy: France’s 75% Millionaires Tax and America’s Insidiously Crafted Two Tiered Law Enforcement

France’s newly elected Socialist President Francois Hollande has vowed to impose a 75% tax on anyone’s income above a million Euros equivalent to $1.24 million. Clearly there is growing concern among the upper echelons of the France’s business class as Hollande presses forward his ‘manifesto of patriotism’ to ‘pay extra tax to get the country back on its feet again’ (“Indigestion for ‘les Riches,” New York Times, August 8, 2012).

The political rationalization for Hollande’s initiative is to provide political cover for the deep cuts that the government may need to make to France’s extensive social and welfare programs.

Yet the motivating force can be ascribed to a far more destructive impulse imbued with the class animosity dating back to the Revolution. Significantly, Hollande has been quoted, “I don’t like the rich.” Voila!

Matthew Rothschild: Victory for Anti-Nuclear Power Movement in the US

Wendell K. Potter: “Path to Prosperity?” For Many Senior Citizens, VP Pick Ryan’s Plan Would Be Path to the Poorhouse

Score two for the movement against nuclear power in this country.

In June, the federal appeals court for the District of Columbia ruled that the Nuclear Regulatory Commission was in violation of the law for failing to adequately assess the environmental hazards involved in the storage of nuclear waste, a point that anti-nuke activists have been making for years and years.

In response to that court ruling, the NRC this week issued a statement that it was stopping the issuing of permits for new nuclear power construction, as well as for life extensions on old existing plants, until it satisfies the court’s concerns.

If Americans who are embracing Rep. Paul Ryan’s “Path to Prosperity” — and that now includes Mitt Romney — spent a few minutes reviewing a few recent research reports, they just might conclude that the Wisconsin Republican’s plan to reduce the deficit might better be renamed the “Path to the Poorhouse” because of what it would mean to the Medicare program and many senior citizens.

Ryan’s proposal, which will get new scrutiny now that Romney has made him his running mate, would end the current Medicare program for everyone born after 1956. It would replace Medicare with a system in which beneficiaries would receive a set amount of money from the government every year to buy coverage from private insurers. That money would go straight into insurance companies’ bank accounts, which would make them far richer and even more in control of our health care system than they already are.

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

David Cay Johnston: The victims of low-interest locusts

Another financial crisis looms for U.S. taxpayers, a disaster likely to create even worse human misery than the mortgage fiasco that some of us warned about years before the Wall Street meltdown in 2008.

The crisis next time: collapsing investment incomes for older Americans as artificially reduced interest rates force them to use up their savings and drive more pension plans into failure.

Eviscerating the interest income of savers is the undeniable result of a long-running Federal Reserve policy to reduce interest rates, especially since December 2008. The Fed reiterated on Aug. 1 that it plans to keep interest rates low through late 2014. It says this helps to promote stronger economic growth and bring down the jobless rate.

As in the mortgage crisis, you can see this disaster building by examining the official data.

Richard (RJ) Eskow: Attorney General to U.S.: Nothing to See On Wall Street, Folks, Just Move Along

Yesterday the Justice Department announced that once again it’s not going to pursue evidence of Wall Street crimes which has been sent its way. It has already failed to act on information sent to it by sources whose investigators are apparently more dogged than its own, including several other government agencies and the Financial Crisis Inquiry Commission. Now the bipartisan committee which was led by Senators Carl Levin and Tom Coburn can be added to the list of sources whose leads weren’t pursued by Attorney General Eric Holder and his staff.

Holder was on the defensive yesterday, a sign that the mounting criticism of his inaction is getting his attention. He was also scornful of that criticism, saying that it’s belied by “a troublesome little thing called facts.”

There’s something troublesome here, all right, but it isn’t the facts.

John Nichols: Paul Ryan Covers Romney’s Right Flank

Mitt Romney will announce his running-mate Saturday morning on the USS Wisconsin.

Wisconsin, it will be noted, is the home state of Congressman Paul Ryan.

And the campaign bling factories are gearing up to print “Romney-Ryan” pins.

That’s a significant shift.

Until just a few days ago, Ryan was considered an unlikely prospect for the No. 2 spot on the Republican ticket: too rigid in his budgetary obsessions, too whacky in his enthusiasm for Ayn Rand’s novels and Austrian economics, too enthusiastic about taking apart Social Security, Medicare and Medicaid.

But Romney has always liked Ryan.

And so has the Republican right.

Eugene Robinson; Heating up debate on climate change

Excuse me, folks, but the weather is trying to tell us something. Listen carefully, and you can almost hear a parched, raspy voice whispering: “What part of ‘hottest month ever’ do you people not understand?”

According to the National Oceanic and Atmospheric Administration, July was indeed the hottest month in the contiguous United States since record-keeping began more than a century ago. That distinction was previously held by July 1936, which came at the height of the Dust Bowl calamity that devastated the American heartland. [..]

We can’t do anything about the greenhouse gases we’ve already spewed into the atmosphere, but we can minimize the damage we do in the future. We can launch a serious initiative to develop and deploy alternative sources of energy. We can decide what kind of environment we leave to our grandchildren.

I’d like to hear President Obama and Mitt Romney talk about the future of the planet. What about you?

Dan Moran: NRA prevents funding for studies on gun violence

There was nothing unusual about the University of Colorado’s grant to its once-promising student, James E. Holmes.

If Holmes weren’t accused of killing a dozen people and wounding 58, we’d never know that he received $21,600 for living costs while he pursued his doctorate in neuroscience. Nor was there anything odd about how the university paid for the stipend. The money came from an annual grant awarded by the National Institutes of Health.

But if the National Institutes of Health had granted money to a researcher delving into the reasons for mass shootings, there might have been trouble. In an Orwellian use of power politics, the gun lobby led by the National Rifle Association has in many instances muzzled federal agencies’ ability to fund basic research into gun violence.

Robert Reich: Back From Three Weeks Vacation With a Bold Proposal

When I left the U.S. economy was in a stall, Greece was on the brink of defaulting, the euro-zone couldn’t get its act together, the Fed couldn’t decide on another round of quantitative easing, congressional Democrats and Republicans were in gridlock, much of the nation was broiling, and neither Obama nor Romney had put forward a bold proposal for boosting the economy, slowing climate change, or much of anything else.

What a difference three weeks makes.

Here’s a bold proposal I offer free of charge to Obama or Romney: Every American should get a mandatory minimum of three weeks paid vacation a year.

Most Americans only get two weeks off right now. But many don’t even take the full two weeks out of fear of losing their jobs. One in four gets no paid vacation at all, not even holidays. Overall, Americans have less vacation time than workers in any other advanced economy.

This is absurd. A mandatory three weeks off would be good for everyone — including employers.

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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:

Up with Chris Hayes: Up with Chris Hayes is preempted for NBC’s coverage of the 2012 Summer Olympics. Chris will return next week.

This Week with George Stephanopolis: This Week’s gusts are  Obama campaign senior adviser David Axelrod and former Minnesota Governor Tim Pawlenty.

The roundtable debates Romney’s vice presidential pick and all the week’s politics, with ABC News’ Cokie Roberts, former Vermont Governor and founder of Democracy for America Howard Dean, Wall Street Journal Editorial Page Editor Paul Gigot, California Lieutenant Governor Gavin Newsom, host of Current TV’s “The Gavin Newsom Show,” and Wall Street Journal columnist Peggy Noonan.

Face the Nation with Bob Schieffer: Mr. Schieffer’s guests are Senior Advisor to the Romney Campaign Eric Fehrnstrom and Obama Deputy Campaign Manager Stephanie Cutter; and Newt Gingrich.

Roundtable analysis from The Washington Post‘s Ruth Marcus, The Week‘s Bob Shrum, The Daily Beast‘s David Frum, The Washington Post‘s Michael Gerson and POLITICO‘s Roger Simon.

The Chris Matthews Show: The Chris Matthews Show is preempted for NBC’s coverage of the 2012 Summer Olympics.

Meet the Press with David Gregory: A special edition of  MTP’s with guests: RNC Chairman and fellow Wisconsinite, Reince Priebus and Governor of Ryan’s home state of Wisconsin, Scott Walker. The discussion continues on the roundtable with MSNBC’s Rachel Maddow; NBC’s Chief White House Correspondent and Political Director Chuck Todd; Editor of the National Review, Rich Lowry; the Washington Post‘s Dan Balz, and author and radio talk show host Bill Bennett, for whom Ryan was a speechwriter while Bennett was Secretary of Education.

State of the Union with Candy Crowley: Ms. Crowley’s guests are Senator John Thune (R-SD);  Senior Advisers to both campaigns – David Axelrod and Ed Gillespie.

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

Christian Neumeister: It’s Just Business: How Corporate America Made Slaves of the Young

Companies across the nation are gleefully denying interns fair wages for their work, in flagrant violation of long-standing labor law, and have the nerve to tell the world they are doing these people a favor.

Huge numbers of college students and recent graduates in a tight labor market are too scared to ask for compensation. Consequently, many interns must work for years in unpaid positions to build their résumés while depending on their parents for financial support. Not only do unpaid internships stop some from paying down a collectively exploding student debt, they compound the economical class differences between those who can afford to work for free and those who can’t.

This exploitative practice has evolved over the generations since the passage of the Fair Labor Standards Act in 1938 and a 1947 Supreme Court ruling about railroad trainees that officially defined unpaid internships; that ruling was mostly ignored by businesses, and today’s systemic abuse of interns eventually developed.

Mark Weisbot: UN Should Get Rid of Cholera Epidemic That It Brought to Haiti

Haitians have had a long and arduous struggle just to achieve the rights that most people in the rest of the hemisphere have enjoyed. From the revolution of Haitian slaves that won independence from the French in 1804, through the U.S. occupation (1915-1934), the Duvalier family dictatorship (1957-1986), and the last 20 years of devastating foreign intervention, the “international community” just hasn’t seen Haitians as having the same basic human rights as people in other countries. [..]

This is perhaps most clear in the failure of the United Nations to take responsibility for the additional devastation they have brought to Haiti with the deadly disease of cholera. Since the outbreak began in October 2010, more than 7,445 Haitians have died of the disease and more than 580,000 have been infected, and these official numbers are an underestimate. It is now firmly established, by a number of scientific studies, that UN troops brought cholera to Haiti by dumping their human waste into the country’s water supply. [..]

No wonder more than 70 percent of Haitians responding to a recent poll said they wanted MINUSTAH to leave within a year.  The UN can use the money currently wasted on this military force to rid the country of cholera.  Then, at least, they will have cleaned up one of their biggest crimes in the country.

Amy Goodman: On Gun Laws, It’s Bipartisan Consensus Not Gridlock That’s the Problem

Another mass murder, another shooting spree, leaving bodies bullet-riddled by a legally obtained weapon. This time, it was Oak Creek, Wis., at a Sikh temple, as people gathered for their weekly worship. President Barack Obama said Monday, “I think all of us recognize that these kinds of terrible, tragic events are happening with too much regularity for us not to do some soul-searching.” Amidst the carnage, platitudes. With an average of 32 people killed by guns in this country every day-the equivalent of five Wisconsin massacres per day-both major parties refuse to deal with gun control. It’s the consensus, not the gridlock, that’s the problem.

The president’s press secretary, Jay Carney, said, “We need to take common-sense measures that protect Second Amendment rights and make it harder for those who should not have weapons under existing law from obtaining weapons.” It’s important to note where Jay Carney made that point, reiterating the phrase “common sense” five times in relation to the President’s intransigence against strengthening gun laws, and invoking “Second Amendment” a stunning eight times. He spoke from the James S. Brady Press Briefing Room in the White House, named after one of Mr. Carney’s predecessors, shot in the head by John Hinckley during the attempted assassination of President Ronald Reagan in 1981. Brady survived and co-founded with his wife the Brady Campaign to Prevent Gun Violence. After each of these massacres, the Brady Campaign has called for strengthened gun control.

Mike Lofgren: Religion Destroyed the Republican Party

The following is excerpted from “The Party Is Over,” a new book by former Republican staffer and Truthdigger of the Week Mike Lofgren, published by Viking Press.

Having observed politics up close and personal for most of my adult lifetime, I have come to the conclusion that the rise of politicized religious fundamentalism may have been the key ingredient in the transformation of the Republican Party. Politicized religion provides a substrate of beliefs that rationalizes-at least in the minds of its followers-all three of the GOP’s main tenets: wealth worship, war worship, and the permanent culture war.

Religious cranks ceased to be a minor public nuisance in this country beginning in the 1970s and grew into a major element of the Republican rank and file. Pat Robertson’s strong showing in the 1988 Iowa presidential caucus signaled the gradual merger of politics and religion in the party. Unfortunately, at the time I mostly underestimated the implications of what I was seeing. It did strike me as oddly humorous that a fundamentalist staff member in my congressional office was going to take time off to convert the heathen in Greece, a country that had been overwhelmingly Christian for almost two thousand years. I recall another point, in the early 1990s, when a different fundamentalist GOP staffer said that dinosaur fossils were a hoax. As a mere legislative mechanic toiling away in what I held to be a civil rather than ecclesiastical calling, I did not yet see that ideological impulses far different from mine were poised to capture the party of Lincoln.

Joe Conason: The ‘Missing Evidence’ in Romney’s Tax Records

Harry Reid has provoked outrage among liberals as well as conservatives, who seem to believe he has violated propriety by repeating gossip about Mitt Romney’s taxes. The Senate leader says someone connected with Romney told him that the Republican candidate paid no income taxes for a period of 10 years. Offended by Reid’s audacity, commentators on the right have indicted him for “McCarthyism,” while others on the left have accused him of inventing the whole story.

Evidently the chief complaint against Reid-aside from aggressiveness unbecoming a Democrat-is that he cited “an extremely credible source” who he has so far declined to name. Some journalists have gone so far as to suggest that Reid must be lying because he won’t identify the source. [..]

Many of Reid’s critics work for news outlets that rely on unnamed sources every day, of course, publishing assertions that range from the mundane to the outlandish. It is hard to see why an unnamed source quoted by a daily newspaper or a monthly magazine-or hidden behind a screen in a TV studio-is more credible than a person whispering in the ear of a United States Senator.

E. J. Dionne, Jr.: Will Conservatives Reject Obamacare’s Rebates?

Here’s a chance for all who think Obamacare is a socialist Big Government scheme to put their money where their ideology is: If you truly hate the Affordable Care Act, you must send back any of those rebate checks you receive from your insurance companies thanks to the new law.

This is just common sense. If you think free enterprise should be liberated from Washington’s interference, what right does Uncle Sam have to tell the insurers they owe you a better deal? Keeping those refunds will make you complicit with Leviathan.

And here’s a challenge to Mitt Romney. You are running a deceitful ad about waivers the Obama administration has yet to issue based on rules allowing governors to operate their welfare-to-work programs more effectively. Will you please stop talking about your devotion to states’ rights?

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: The Fed, Ben Bernanke and the rotten Libor

Ben Bernanke had an obligation as Fed chair to expose and stop the rigging of inter-bank lending rates.

The case of the rigged Libor turns out to be the scandal that just keeps on giving. It reveals a great deal about the behaviour of the Federal Reserve Board and central banks more generally.

Last month, Federal Reserve Board Chairman Ben Bernanke gave testimony before Congress in which he said that he had become aware of evidence that banks in the UK were rigging the Libor – the inter-bank lending rate and one of the primary benchmarks for short-term interest rates – in the autumn of 2008. According to Bernanke, he called this to the attention of Mervyn King, the head of the Bank of England. Apparently Mervyn King did nothing, since the rigging continued, but Bernanke told Congress there was nothing more that he could do.

The implications of Bernanke’s claim are incredible. There are trillions of dollars of car loans, mortgages and other debts, in the United States, tied to the Libor. There are also huge derivative contracts whose value depends on the Libor at a moment in time. People were winning or losing on these deals not based on the market, but rather on the rigged Libor rate being set by the big banks.

Michael T. Klare: The Coming Hunger Wars: Heat, Drought, Rising Food Costs, and Global Unrest

The Great Drought of 2012 has yet to come to an end, but we already know that its consequences will be severe. With more than one-half of America’s counties designated as drought disaster areas, the 2012 harvest of corn, soybeans, and other food staples is guaranteed to fall far short of predictions. This, in turn, will boost food prices domestically and abroad, causing increased misery for farmers and low-income Americans and far greater hardship for poor people in countries that rely on imported U.S. grains. [..]

At this point, the focus is understandably on the immediate consequences of the still ongoing Great Drought: dying crops, shrunken harvests, and rising food prices. But keep an eye out for the social and political effects that undoubtedly won’t begin to show up here or globally until later this year or 2013.  Better than any academic study, these will offer us a hint of what we can expect in the coming decades from a hunger-games world of rising temperatures, persistent droughts, recurring food shortages, and billions of famished, desperate people.

Glen Ford: Where Will the US Strike Next in Africa?

Under the direction of the United States, the UN Security Council recently extended sanctions for another year against the northeast African nation of Eritrea. The country of 6 million people, nestled against the Red Sea, is on America’s hit list. In the imperial double-speak of Washington, Eritrea is described as a “destabilizing” force in the region – which simply means the government in Asmara has refused to buckle under to U.S. military domination of the Horn of Africa. [..]

Eritrea’s real sin is to be one of the very few nations in Africa that do not have military relations with AFRICOM, the U.S. war machine. That puts a bulls-eye on her back, along with Zimbabwe and Sudan, which U.S. Ambassador to the UN Susan Rice demanded be blockaded and bombed back in the George Bush administration. Barack Obama’s Africa policy is an extension and expansion of Bush’s aim to militarize the continent, and the much older U.S. policy to create chaos and horrific human suffering in those regions it cannot directly control. In practice, Obama’s doctrine is the same as Bush: “You are either with us or against us.”

Gail Collins: The Wacky Primary Voters

Missouri Republicans have just nominated a Senate candidate who appears to believe that the government’s college student loan program is the equivalent of Stage 3 cancer. Actually, he said “the Stage 3 cancer of socialism,” which is perhaps not the exact same thing. But I believe you get the idea.

This was a week after Texas Republicans nominated a Senate candidate who is worried about protecting the world’s golf courses from the United Nations. Republicans, I think you need to get a grip. [..]

Next week we have Wisconsin, where former Gov. Tommy Thompson, the guy everyone expected the Republicans to nominate for the Senate, is in trouble thanks to a challenge from – yes! – the Tea Party. And will Connecticut Republicans nominate a former congressman with a reputation for bipartisanship or a businesswoman whose claim to fame is building a professional wrestling empire? Duh.

Paul Krugman: US Conservatives Pile on the Excuses

The commentators Mike Konczal and Jonathan Chait both had good blog posts recently on “You didn’t build that,” the statement President Obama made during a speech in July that, deliberately misinterpreted, has dominated right-wing discourse these past few days. But I think both of them missed a couple of tricks.

The first is that both in effect shrugged their shoulders over the fact that for several days running the central theme of the Romney campaign has rested on a complete lie.

I understand; going on about the dishonesty can get boring. But we should step back often to look at this remarkable spectacle. I really don’t think there’s been anything like this in American political history: a presidential campaign with a pretty good chance of winning that is based entirely on cynical lies about what the sitting president has said. No, Mr. Obama hasn’t apologized for America; no, he hasn’t denigrated achievement. Yet take away those claims, and there’s nothing left in Mitt Romney’s rhetoric.

Michael Wolff: Never Forget Who Profits Most in $2 Billion Presidential Campaign

Campaign fundraising’s reality is that donors large and small end up disappointed. So cui bono? The media and media buyers

What does all this money, in the most well-funded presidential race ever, buy?

There’s the $750m for the president; $800m for Mitt Romney; and then there’s a couple of hundred more in Super Pac funds.

What do the people putting up all this dough in politics actually get? Or maybe a better question: how do people keep falling for this? [..]

Sheldon Adelson has been one of the big spenders during this campaign (by some estimates, his spend may go to $100m), first for Newt Gingrich, and now for Romney, accompanying the Republican candidate and his entourage on their recent trip to Israel. This might be what Adelson wants: some big-man travel, some personal press, a sense of bully-boy insinuation into Israel-US relations, some faith-based pride. But does he get real influence?

Jim Hightower: The People’s Choice! Only, Not Really

If you thought right-wing politicos couldn’t get any goofier, take a peek at Texas on “Cruz Control.”

Ted Cruz is America’s latest tea party darling, having just pulled off a political contortion in Texas that few would’ve thought humanly possible: He got to the right of Gov. Rick Perry! The “Oops” governor is himself a former tea party darling who’s such a far-out know-nothing that he’s renowned for putting the goober in gubernatorial. By the time of last week’s Republican runoff election in Texas, however, Cruz had squinched himself Houdini-like into even farther-out political positions than Perry has taken, thus wowing the tealeaf crowd and defeating the guy whom Perry was backing to be the Party’s nominee for a seat in the U.S. Senate.

How far out is he? One of the white-hot talking points Cruz used to fire-up the narrow extremists who now control the Texas GOP is that he will, by God, defend America’s golf courses! You might not have realized that golf course defense is a burning national issue crying out for the attention of U.S. senators, but such keen vigilance on even the most unimaginable threats to our nation is the kind of stuff that makes Cruz a tea party fave.

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”.

Wednesday is Ladies’ Day

Follow us on Twitter @StarsHollowGzt

Jeanne Mirer and Marjorie Cohn: The Toxic Effects of Agent Orange Persist 51 Years After the Vietnam War

From the beginning of the spraying 51 years ago, and even today, millions of Vietnamese have died from, or been completely incapacitated by, diseases which the US government recognizes are related to Agent Orange for purposes of granting compensation to Vietnam veterans in the United States. The Vietnamese, who were the intended victims of this spraying, experienced the most intense, horrible impact on human health and environmental devastation. Second and third generations of children, born to parents exposed during the war and in areas of heavy spraying hot spots, suffer unspeakable deformities that medical authorities attribute to the dioxin in Agent Orange. [..]

For the past 51 years, the Vietnamese people have been attempting to address this legacy of war by trying to get the United States and the chemical companies to accept responsibility for this ongoing nightmare. An unsuccessful legal action by Vietnamese victims of Agent Orange against the chemical companies in US federal court, begun in 2004, has nonetheless spawned a movement to hold the United States accountable for using such dangerous chemicals on civilian populations. The movement has resulted in pending legislation HR 2634 hot spots, lawsuit to compensate them, as the unintended victims, for their Agent-Orange-related illnesses. But the Vietnamese continue to suffer from these violations with almost no recognition, as do the offspring of Agent-Orange-exposed US veterans and Vietnamese-Americans.

Ruth Coniff: Tragedy in Wisconsin and Our Out-of-Control Gun Policies

The shooting rampage Sunday at the Wisconsin Sikh Temple outside Milwaukee has got to prompt serious soul-searching about our out-of-control gun policies in this country.

Although President Obama’s timely words of condolence strike the right note, once again the President did not seriously address the main problem: that the floridly psychotic, violent racists, and anyone else who attends a gun show or chooses to order thousands of rounds of ammunition online, has easy access to weapons like the two semiautomatic handguns the temple gunman apparently used.

This is not a hunting issue. It is not an issue of self defense. It is a question, as the President himself put it after the horrible massacre in a Colorado movie theater, of whether automatic weapons belong in the hands of soldiers, or of anyone who cares to use them.

Yves Smith: Where Are the Feds?

The New York Superintendent of Financial Services dropped a bombshell today, filing an order (pdf) against Britain’s Standard Chartered Bank. It charges the bank with having engaged in at least $250 billion of illegal transactions with Iranian banks, including its central bank, from 2001 to 2010, and of engaging in similar schemes with Libya, Myanmar and Sudan (those investigations are in progress). It threatens SCB with the loss of its New York banking license and termination of access to dollar clearing services. The latter alone is as huge deal. You are not a real international bank unless you have dollar clearing. Sumitomo Bank looked at giving up its US banking license in 1985 when it was examining deal structures for making an investment in Goldman, and ascertained that giving up access to Fedwire would cost it over $100 million a year and considerably weaken its position in Japan. SCB is certain to be a much more active dollar player than Sumitomo was and the volume of international transactions has grown hugely since then.

SCB squealed like a stuck pig, claiming that only $14 million of transactions were out of compliance. But the bank has nowhere to go. The NY Superintendent, Benjamin Lawsky, has made his determination. The only thing open for discussion is what sort of punishment he is going to impose.  [..]

The lack of action by everyone ex(cept) the lowly New York banking supervisor is mighty troubling.

Inge Fryklund: On Drugs and Democracy

The UN Office of Drug Control (UNODC) has thoroughly documented the violence, crime, and corruption linked with the worldwide heroin and opium trade. The U.S. news media report every day on the mayhem and corruption of government officials caused by the drug wars in Mexico, Colombia, and other points south of our border. In Afghanistan, the Taliban tax the opium trade and protect poppy farmers from eradication, fueling the insurgency and our 11-year war.

However, these problems are all consequences of drug prohibition, not of the drugs themselves. In legal terms, drugs are malum prohibitum (wrong because prohibited by law) rather than malum in se (inherently wrong, such as theft or murder). During the U.S. experiment with Prohibition (1920-1933), alcohol was malum prohibitum; as soon as it was legalized, it again became a normal regulated, traded, and taxed consumer product.

We need to rethink our prohibition of drugs. What problem are we trying to solve by making drugs illegal? Have we chosen the most effective and affordable solution? Are the collateral consequences worth it?

Katrina vanden Heuvel: Romney’s incredible extremes

The pro-Obama New Priorities PAC stumbled across this phenomena early in 2012 in its focus group testing. When they informed a focus group that Romney supported the budget plan by Rep. Paul Ryan (R-Wis.), and thus championed ending Medicare as we know it while also championing tax cuts for the wealthy, focus group participants simply didn’t believe it. No politician could be so clueless.

Incredulity may complement what New York Times columnist Maureen Dowd dubbed Romney’s strategy of “hiding in plain sight.” Romney refuses to release his tax returns, scrubbed the records and e-mails of his time as governor and as head of the Olympics, keeps secret details of his Bain dealings and covers up the names of his bundlers. And then, he’s able to announce extremely cruel policy positions with impunity, because the voters just can’t believe that’s what he is for.

This is what comes to mind with the publication of a study (pdf)  on the effects of the Romney tax policy by the non-partisan Tax Policy Center and the Brookings Institution.

Bryce Covert: Cutbacks to Unemployment Insurance Came Long Before the Great Recession

You may have heard that we’re in the middle of an unemployment crisis. It’s little wonder that an average of 365,500 people per week made new claims for unemployment benefits over the past month. These high numbers have been straining unemployment insurance programs at the federal and state level, and many states have run out of reserves to pay for them, triggering a reduction in benefits. But this crisis wasn’t inevitable. The pull back in unemployment benefits is just another result of state-level choices to cut taxes at the expense of state spending, spending that could be cushioning the blow of the Great Recession.

States are unable to adequately finance their unemployment insurance programs just when they are most needed not because they were unexpectedly overwhelmed. As a new report from the National Employment Law Project shows, it was because they failed to finance them during the good times like they’re supposed to. Here’s the way it works: federal law requires each state to collect unemployment insurance contributions from employers and deposit them into a state trust fund held in the treasury. During good times, the trust funds accumulate reserves so that claims can be paid out during downturns. This makes the program countercyclical, helping to pump money into workers’ pockets and therefore businesses (via their spending) when times are tough.

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

New York Times Editorial: Business Fears the Fiscal Cliff

So it turns out that federal spending is important to the economy after all.

As Nelson Schwartz reported in The Times on Monday, a number of manufacturers say they are canceling plans for investing and hiring, in part, because they fear that some $100 billion in budget cuts will take effect in 2013. In all, the law currently calls for $1.2 trillion in automatic spending cuts over 10 years, starting Jan. 1, divided between nondefense programs and defense projects.

Republican lawmakers demanded the cuts last year as part of their brinkmanship over the debt ceiling, and business lobbies have generally supported slashing the deficit. But now that the cuts are imminent, corporate executives seem to have realized that the last thing the economy needs is a large budget cut across the board.

Gore Vidal: Gore Vidal Speaks Seriously Ill of the Dead

The following was first published March 20, 2008 at Truthdig

I can recall that day in the 1930s when a “news” (sic) magazine appeared in Washington, D.C.; it was called Newsweek: meant to be a counterbalance to Time Magazine’s uncontrollable malice. In due course the two became sadly alike as Vincent Astor morphed into Henry Luce: Was it something in the water? I once asked Henry Luce why he called Time a news magazine when it was simply Uncle Harry’s means of venting his rage (this was 1960 or so) at liberals, and “degenerate art” like the plays of Tennessee Williams-he had no answer. At Newsweek Vincent Astor was far too stupid to answer any such complaint. Now here we are in the Newsweek of 2008, and it’s still lousy. There have been a few decent writers in between that were less nutty than today’s Newsweek hacks. [..]

The unique mess that our republic is in can be, in part, attributed to a corrupt press whose roots are in mendacious news (sic) magazines like Time and Newsweek, aided by tabloids that manufacture fictional stories about actual people. This mingling of opinion and fiction has undone a media never devoted to truth. Hence, the ease with which the Republican smear-machine goes into action when they realize that yet again the party’s permanent unpopularity with the American people will cause them defeat unless they smear individually those who question the junk that the media has put into so many heads. Anyone who says “We gotta fight ’em over there or we’re gonna have to fight ’em over here.” This absurdity has been pronounced by every Republican seeking high office. The habit of lying is now a national style that started with “news” magazines that was further developed by pathological liars that proved to be “good” Entertainment on TV. But a diet of poison that has done none of us any good.

I speak ex cathedra now, ad urbe et orbe, with a warning that no society so marinated in falsity can long survive in a real world.

Jim Hightower: Turning College Students Into Commodities

Let’s take a trip deep into the magic kingdom of “Laissez Fairyland” and prostrate ourselves before the infallible and inscrutable force known as the free market.

While this awesome deity cannot be seen, the high priests of free-market fundamentalism insist that we mere mortals must simply have faith that its mysterious workings are always in our best interest. Yeah, sure, your holiness. We saw how well that worked out for us wandering pilgrims after you true believers deregulated Wall Street, which then crashed on our streets.

Well, get ready. Free-market purists want us to have another ungodly religious encounter with their omnipotent deity. Looking at America’s trillion-dollar student debt crisis, these spiritualists had a burning-bush revelation.

The crisis can be healed by letting the magic market (aka Wall Street) lay its hands on the funding of college education. Get the government out of the student loan business, they preach, and let global speculators invest directly in students by covering their tuition. In other words, turn students into just another Wall Street commodity to be purchased by the wealthy.

George Zornick: Media Help Advance Romney’s Lies About Ohio Early Voting

This weekend, Republican presidential candidate Mitt Romney launched on attack an the Obama campaign that is unambiguously based on a lie. On his Facebook page, Romney posted a note directly accusing the re-election effort of working to undermine the voting rights of military members in Ohio: [..]

The background is that, while all Ohio voters used to enjoy in-person early voting privileges for three days, Republicans in the state legislature this year restricted that right to military members only. The Obama campaign subsequently filed a lawsuit asking that the privileges be extended to all voters: [..]

Yet many mainstream political reporters are unable or unwilling to discern that a lie has been told, and say so in their reporting. Eric Alterman recently described the pernicious so-called “even-handedness” of much of the political press, and it’s on display in no clearer fashion than in this case-there is zero room for interpretation about what the Obama campaign lawsuit seeks.

John Nichols: Shootings at Sikh Temple Test the Founding Faith of America

As Americans mourn the killings at the Sikh gurdwara in Oak Creek, Wisconsin, it is vital to remember the real history of religious freedom in America.

And to embrace it.

This is about something very different from the cheap sloganeering of those who would blur lines of separation between church and state and use the promise of freedom to worship as an excuse to discriminate against others. The vision advanced today by right-wing politicians-who cloak themselves in a Constitution they do not seem to have read very closely-often imagines America as “a Christian nation.” But that characterization is at odds with the ideal of the founders, who enacted religious freedom protections “meant to comprehend, within the mantle of [their] protection, the Jew and the Gentile, the Christian and Mahometan, the Hindoo, and infidel of every denomination.” Jefferson was fascinated by the great religions of the world. He was not just aware of them. He searched out copies of the holy texts of Islam, Judaism, Hinduism and other religions, and he consulted them when preparing core documents of the American experiment. He and the most enlightened of his comrades wanted America to protect and welcome the practitioners of those faiths.

Of course, Jefferson wanted future American presidents and political leaders to share his recognition that the “wall of separation” between church and state was designed to prevent favoritism for one doctrine or faith over another.

But he also wanted America to be a welcoming place for the followers of all faiths. And he wanted the believers in Muslims, Hindus, Jews, Christians and, yes, Sikhs to be safe from threats and violence.

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