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Debate: Deficit Distraction Disorder

(Dec. 3) -- When the school is on fire and the kids are still in the classrooms, you don't debate the color to paint the cafeteria, unless of course you're a Washington insider. We are experiencing the worst economic crisis since the Great Depression. Almost 15 million people are unemployed, 9 million are working part...

Economist: US and Ireland Both Fell Prey to Real Estate Market

(Nov. 18) -- Ireland is looking squarely in the face of a rescue package of "tens of billions" of euros today. Sound familiar? It should. As was the case in the United States when the government bailed out Wall Street banks to save the American economy, many in Ireland are displeased with the idea. But the Irish have a...

McConnell Flip-Flops on Earmarks, But Does It Really Matter?

(Nov. 16) -- Senate Minority Leader Mitch McConnell reversed himself Monday and endorsed a moratorium on earmarks, the sly legislative devices by which members of Congress direct federal funds to their pet projects. South Carolina Sen. Jim DeMint joined other GOP tea partiers in pressuring McConnell, who has steered about...

David Brooks Says Unemployed Care More About Values Than Jobs

(Oct. 29) -- The latest economic growth numbers aren't good: The economy grew just 2 percent in the third quarter, the Commerce Department reported today. It's a "slight uptick" from the previous quarter, reports The New York Times, but not enough to put a dent in the country's 9.6 percent unemployment rate. "The economy...

Contrary to Politico, Social Security Benefits Aren't Pegged to Growth

(Oct. 14) -- Social Security turned 75 this year. How's it doing these days? On Wednesday, Politico's Simmi Aujla reported on some gloomy news regarding the federal benefits program. He wrote, "On Friday, Social Security recipients will learn that they won't receive higher benefits for the second year in a row because the...

dean baker News From the Web

05/27/12 American capitalism is on trial Source: Telegram & Gazette - Worcester MA WASHINGTON This election is being fought along the traditional skirmish line of capital versus labor.
05/23/12 Robert J. Samuelson: Why capital recovered faster than... Source: The Billings Gazette - Billings MT This election is being fought along the traditional skirmish line of capital versus labor.
05/22/12 Robert J. Samuelson: A fateful verdict on capitalism Source: The Commercial Appeal - Memphis TN This election is being fought along the traditional skirmish line of capital versus labor.
05/21/12 Work sharing: Michigan Senate considers unemployment... Source: Jackson Citizen Patriot - Jackson MI State lawmakers are considering a work share bill that supporters say should help prevent layoffs.
05/16/12 Economist: Copyright Is An Antiquated Relic That Has... Source: Techdirt For many years I've been pointing out the basics of economics concerning concepts like "free" and the importance of marginal cost to pricing in an efficient market.