Debt

Ann Arbor (Informed Comment) – The twentieth century was dubbed “the American Century” in 1941 by Time magazine publisher Henry Luce. Luce hoped that Americans would abandon their isolationism and seek international allies, joining against the Axis in WW II. It was then more wishful thinking on his part than reality, but his wish arguably […]

Debt

Austerity Terrors: Congress Stimulus Package Finally Passes – but it is Too Little, Too Late

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – 900 billion dollars is a big amount, Apparently one trillion is a whole order of magnitude greater. Or at least the number is so terrifying that politicians bend heaven and earth to avoid being connected with trillion dollar expenditures. And this allergic reaction is bipartisan. In the […]

Debt

The Great American Moonshot: Now we Need a Vaccine for Poverty, Inequality and Racism

Liz Theoharis

( Tomdispatch.com ) – Martin Luther King, Jr., offered this all-too-relevant comment on his moment in his 1967 speech “Where Do We Go from Here: Chaos or Community?”: “The contemporary tendency in our society is to base our distribution on scarcity, which has vanished, and to compress our abundance into the overfed mouths of the […]

Debt

The Pentagon couldn’t Protect us from the Pandemic: Will Biden dare Cut its Budget?

Tomdispatch

By William D. Hartung and Mandy Smithberger | – ( Tomdispatch.com ) – Now that Joe Biden is slated to take office as the 46th president of the United States, advice on how he should address a wide range of daunting problems is flooding in. Nowhere is there more at stake than when it comes […]

Banking

Say no to Austerity for Workers: McConnell and the GOP are about to pull the “We have no money” scam

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – Not surprisingly the national debt is a subject of concern. Liberal and Left economists, most of whom supported the CARES relief package, knew and predicted that once the Trump tax reduction for the rich had become law—despite the massive increases in government debt it entailed– debt would […]

Banking

Whoever wins the Election will face Severe Eviction Crisis, as 30 million brace for Homelessness

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – Whoever wins Tuesday’s election is virtually certain to be confronted by a severe foreclosure and eviction crisis as state and local governments face acute budget shortfalls. These crises interact with each other and in ways that intensify the economic damage they inflict. The harm is also psychological […]

Debt

In the Midst of an Epochal American Eviction Crisis, Can we Wait for Congressional Talks?

John Buell

How should progressives stand on the issue of the second Covid relief bill being negotiated between Speaker Pelosi and Treasury Secretary Mnuchin? What can be said is that a generous relief package is badly needed and the case on its behalf is strengthened by an analysis of the first relief package. In terms of pure […]

Debt

In Praise of Public Debt

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – Even as California burns, the states of the Gulf of Mexico brace for another hurricane, a global pandemic rages, an influential segment of DC political opinion wants the populace to focus on the national debt. Employing arguments that go back at least as far as Andrew Mellon, […]