Imagine a plot to undermine the government of the United States, to destroy much of its capacity to do the public’s business, and to sow distrust among the population. Imagine further that the plotters infiltrate Congress and state governments, reshape their districts to give them disproportionate influence in Washington, and use the media to spread … Continue reading »
fiscal cliff
Why it’s hard to replace the ‘fiscal cliff’ metaphor
Writers on economics have been talking since the election about why the “fiscal cliff” metaphor is misleading. Alternative metaphors have been offered like the fiscal hill, fiscal curb, and fiscal showdown, as if one metaphor could easily be replaced by another that makes more sense of the real situation. But none of the alternatives has … Continue reading »
Bungee-jumping over the fiscal cliff
What’s the best way to pressure Republicans into agreeing to extend the Bush tax cuts for the middle class while ending them for the wealthy? The President evidently believes it’s to scare average Americans about how much additional taxes they’ll pay if the Bush tax cuts expire on schedule at the end of the year. … Continue reading »
Why we should stop obsessing about the federal budget deficit
I wish President Obama and the Democrats would explain to the nation that the federal budget deficit isn’t the nation’s major economic problem and deficit reduction shouldn’t be our major goal. Our problem is lack of good jobs and sufficient growth, and our goal must be to revive both. Deficit reduction leads us in the … Continue reading »