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Economy

America’s Real Job Creators are Broke | Jim Hightower via OtherWords

Despite the GOP’s ideological claptrap about corporate executives being “job creators,” it’s ordinary Americans who actually create jobs by spending from their paychecks. This is why our obtuse policymakers need to quit pampering the rich and fussing over budgets. Instead, they should launch a national, FDR-style jobs program that will immediately increase paychecks, perk up consumer spending, and generate grassroots ...

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Protesters Spotlight Corporate Influence in State Politics at ALEC Annual Meeting | Common Dreams via PRWatch

A group of 100 or so protesters, who on Friday afternoon marched on the Marriott hotel in New Orleans, LA, where corporate lobbyists were voting with state lawmakers on “model” legislation at the American Legislative Exchange Council’s (ALEC) 38th Annual Meeting. The protest, organized in part by LSU’s Student Labor Action Project, the Defend Ohio Campaign, and activists from across ...

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Barbara Ehrenreich: America’s Tragic Decline — Resistance Bursts Out All Over the World, While We Do Nothing to Fight Corporate Takeover | AlterNet

Standard & Poor’s announced Friday it’s downgraded the U.S. credit rating for the first time in history. The move by S&P, one of three leading credit rating agencies, came just days after Congress approved a $2.1 trillion deficit-reduction plan. S&P called the outlook “negative,” indicating that another downgrade is possible in the next 12 to 18 months. Lowering the nation’s ...

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Urgent: Social Security Shouldn’t be Cut. Wars Should!

Protect Social Programs! Slash Military Spending and Tax Corporations & the Wealthy! Take Action! The gigantic national debt is due to Washington’s wars in Iraq and Afghanistan and tax breaks for millionaires. But all of the discussions about the deficit seem to ignore this crucial fact. Instead, politicians want hard working people and those in need to suffer in order ...

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Michael Hudson: War and Debt: The Debt Ceiling Debate That Didn’t Happen | CounterPunch

To begin with the most obvious question: If governments run up their debt in the process of carrying out programs that Congress already approved, why would Congress have yet another option to stop the government from following through on these authorized expenditures, by refusing to raise the debt ceiling? The answer is obvious when one looks at why this fail-safe ...

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US of Austerity: What $570 Billion Cuts Will Do to Our Water, Air, the Jobless, Children, the Elderly, and the Poor | AlterNet

The debt ceiling deal hammered out by President Barack Obama and congressional leaders and passed in the House on Monday afternoon makes deep, painful, and lasting cuts throughout the federal government’s budget. What’s on the chopping block? The numbers tell the tale. … What’s not in the deal could hurt too. In particular, EPI’s analysis estimates that not extending federal ...

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Amy Goodman: War, Debt and the President | Truthdig

President Barack Obama touted his debt ceiling deal Tuesday, saying, “We can’t balance the budget on the backs of the very people who have borne the biggest brunt of this recession.” Yet that is what he and his coterie of Wall Street advisers have done. In the affairs of nations, Alexander Hamilton wrote in January 1790, “loans in times of ...

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20 Protesters Arrested after Disrupting House Debt Debate | National People’s Action via Common Dreams

Demanding Speaker Boehner and GOP Stop Holding America Hostage and Start Creating Jobs WASHINGTON – August 2 – Expressing outrage over a debt ceiling deal that does not raise revenue, relies solely on spending cuts, including the potential for significant cuts to Medicare later this year, a group of 20 community leaders were arrested at the Republican House caucus meeting ...

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Sanders Votes No on ‘An Extremely Unfair Agreement’ | Common Dreams

WASHINGTON – August 2 – Sen. Bernie Sanders (I-Vt.) issued the following statement today after voting against what he called “an extremely unfair” deficit-reduction package: “I believe that Vermonters and people across the country are extremely dismayed that all of the burden for deficit reduction will fall on the backs of working families, the elderly, the children, the sick and ...

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