Obama's Economics Chief Is Set To Leave New York Times ...Lawrence H. Summers, the chief architect of President Obama’s economic policy, would leave at the end of the year.
You can't solve a problem unless you know what's causing it, and America's economy won't get fixed unless the government figures out why it sucks so bad.
The problem with the economy is not the deficit, or uncertainty, or high taxes on the wealthy. It's the 28 percent of U.S. households that have at least one person looking for a full-time job.
People aren't buying stuff because they don't have jobs and they don't have any money.
The source of that comment, sadly, is not just some wingnut off the street. It's former Wyoming Senator Alan Simpson, the co-chairman of President Obama's deficit commission. He has suggested the deficit commission will recommend cutting back Social Security to reduce the deficit.
The peerless Dean Baker points out that the Korean trade deal doesn't free trade. Many trade barriers remain, and some -- like patent and copyright protections -- are increased. He writes
...the trade agenda of the United States had been about reducing barriers to trade in manufactured goods with the purpose of putting non-college educated workers in direct competition with much lower paid workers in other countries.
Most Americans actually believe they won't receive any Social Security benefits at all. Mother Jones blogger Kevin Drum has a nifty chart illustrating the results from a recent Gallup poll that show six in 10 people don't think they'll get a dime from Social Security. Drum concludes
The peerless Dean Baker sounds a warning: the wingers will soon be making another run at privatizing Social Security and Medicare.
Today he writes: