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...there is another option: Social Analysis 72, an introductory look at the subject that dares to question what has become a religion for some. It’s a course that opposes the political bent of noted Ec 10 leader and former advisor to George W. Bush N. Gregory Mankiw. It’s a course with its own dissident history that, Marglin says, is as relevant as ever given the current economic climate. To some, it toes a Marxist line. But for Marglin and his followers it’s simply the little class that could: a powerful gadfly...
...know, Paul, Reagan proved deficits don't matter," Vice President Dick Cheney famously told George W. Bush's first Treasury Secretary, Paul O'Neill. Cheney, who rarely allows facts to get in the way of a good ideology, was retailing a myth. Ronald Reagan is remembered for the massive tax cuts passed during his first year in office. But since deficits do matter - and since Reagan's so-called supply-side cuts blasted an enormous hole in the budget - the President had to come back in 1982 with the largest peacetime tax increase in American history: the Tax Equity...
...government. That didn't work out so well either. The public demanded its entitlement programs - deficits be damned - and a strong defense, and loved having politicians who secured funding for a Yo-Yo Hall of Fame in their district. Deficits grew until the combined actions of George H.W. Bush and Bill Clinton caused the deficits to stop growing. How, you might ask, did they manage that? They raised taxes. Somehow the economy not only survived, it prospered. (See pictures of tea-party tax protests...
...national scandal that we're nowhere close to having a reasonable discussion about taxes. A Reagan-size increase probably would be unwise right now, given the shaky economy. But the conversation will become unavoidable next year, when the Bush tax cuts expire. A restoration of the Clinton rates would go a long way toward paying down the Bush deficits and the assorted Bush-Obama federal bailouts and creating some breathing space if health reform costs more than expected. One hopes that Democrats, and fiscally responsible Republicans, will locate the backbone between now and then to do the right thing...
...have the kind of hard, direct evidence that you could take to get a criminal indictment. That allows [Hamid] Karzai to say, 'where's your proof?'" - A Bush White House official on the difficulties of trying to get President Karzi to look into his brother Wali Karzai's alleged involvement in the drug trade. (New York Times...