Tag - depression

Andrew Kreig: Economists Warn of Near Treason In DC Policies

By Andrew Kreig
Justice + Integrity Project

Two prominent economists on the left and right have described the nation’s economic planning as so misguided as to be deeply corrupt.

Former Secretary of Labor Robert Reich, left, an appointee under the Democratic President Bill Clinton, published a column describing the nation’s path as shaped by the tea party as “near treasonous.” He called the effort to cut spending “a cruel hoax” because its basis is an ideological pursuit of power, thus hurting the public needlessly via phony economic history.

Paul Craig Roberts, at right, a prominent conservative for many years in the Reagan Administration and elsewhere, has been at least as hard-hitting as Reich on many of the same themes.

The most recent Roberts column, The Missing Recovery, argues that recent governments of both parties deliberately deceive the public with their official economic statistics, and otherwise sell out the public interest. He uses the term “treason” and its synonyms primarily for U.S. powerbrokers hurting the country on war-mongering instead of crippling the economy. But he matches Reich in many other respects in disdain for economic policy bromides.

In underscoring the loss of America’s historic freedoms, Roberts often describes government as by “The Bush-Obama Regime” and law enforcement as by the “The Justice Department (sic).”  His word choice mocks traditional Republican versus Democratic political pundity offered by what Roberts likes to call “the presstitutes” in the mass media.
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Sequestration Sorrows for Extremist Republicans

May you have incompetent, offensive enemies. 


President Obama and the congressional Democrats have the luck of the Irish, truly.  They’ve already won the Battle of the Fiscal Cliff due to the good judgment of the people.  That judgement takes facts into consideration.  The sequestration process is a blunt instrument wielded by a Frankenstein process that accounts for nothing sensible in terms of solving the main concern of the public; the seriously flawed, destructive economic cycle that is dragging us to a place nobody sensible wants to go. The PEW survey to the left shows that a majority think the economy in general (60%) and the military in particular (55%)  will suffer due to this pathetic process of histrionic policy making.

That puts the wisdom of the people in line with the judgement of over 95% of leading economists surveyed recently who say that “growth is likely to be negatively affected by the automatic federal spending cuts that are scheduled to kick in Friday.”  It makes sense.  The economy is weak, unemployment, all those out of work seeking work, is around 22%, and many citizens are one paycheck away from their own fiscal cliff.

Here are some highly revealing polls and  headlines from around the country late Wednesday, early today.

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