Two good pieces—except for the end of the second one, where Robert Borosage demonstrates the usual progressive cluelessness re: this nation’s totally f**ked voting system.
Ransom Paid | Truthout
Monday 1 August 2011
by: Robert Reich, Robert Reich’s Blog | Op-Ed
President Barack Obama speaks about a debt deal at the White House on Sunday night in Washington, July 31, 2011. Obama announced that leaders of both parties in the House and Senate have reached an agreement with him to raise the government’s debt ceiling. (Photo: Philip Scott Andrews / The New York Times)
Anyone who characterizes the deal between the President, Democratic, and Republican leaders as a victory for the American people over partisanship understands neither economics nor politics.
The deal does not raise taxes on America’s wealthy and most fortunate — who are now taking home a larger share of total income and wealth, and whose tax rates are already lower than they have been, in eighty years. Yet it puts the nation’s most important safety nets and public investments on the chopping block.
Published on Truthout (http://www.truth-out.org)
Home > Obama’s Capitulation to the Tea Party
Obama’s Capitulation to the Tea Party
Monday 1 August 2011
by: Robert Borosage, Campaign for America’s Future  | Op-Ed
The raw deal on the budget ceiling has been cut. The Tea Party terrorists – the extremist faction willing to hold the economy hostage to get their way – have won. The Republic, common sense and decency have been trampled.
With the economy deeply depressed, 25 million people in need of full time work, the raw deal will impede any recovery. It precludes any serious action on jobs from the federal government. It will cost jobs as spending is cut. Instead of getting serious about a plan to revive this economy and put people back to work, Washington will remain fixated on what and how much to cut. From the President to the Tea Party zealots, politicians will tell Americans that this agreement is “important to our economy.” Yes, it is important – important in the way a virus is important to a sickly patient. It will make things worse.
With Gilded Age inequality, and hedge fund billionaires paying a lower effective tax rate than their secretaries, the deal contains no tax hikes. Poor and working Americans are asked to pay to clean up the mess that Wall Street’s excesses created.