All Life Is Problem Solving

Joe Firestone’s Blog on Knowledge and Knowledge Management

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Moody’s: Bring It On!

December 15th, 2010 · Comments Off

Yesterday, as reported in Money News, Moody’s made me laugh, with the following pronouncements: ” . . . it could move a step closer to cutting the U.S. Aaa rating if President Barack Obama’s tax and unemployment benefit package becomes law. . . . “The plan agreed to by Obama and Republican leaders last week [...]

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Tags: Politics

The National Debt Is Congress’s Fault! Redux

December 15th, 2010 · Comments Off

The national debt exists today because when the nation went off the Gold Standard in 1971 and adopted its present non-convertible fiat currency system, Congress did not repeal its mandate requiring that the Government back all its deficit spending with already existing borrowed dollars whose convertibility was covered by our holdings of Gold. This Congressional [...]

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Tags: Politics

The National Debt Is Congress’s Fault!

December 15th, 2010 · Comments Off

I’m sick and tired of hearing progressive icons like Bernie Sanders, Keith Olbermann, Ed Schultz, and many, many others, talking about the evil of leaving an enormous national debt, now at $13 Trillion plus to our Grandchildren. And I’m especially tired of hearing Congresspeople and Senators complaining about this. The reason why I’m tried of [...]

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Tags: Politics

Congressional Progressives: Make ‘Em End Debt Issuance!

December 15th, 2010 · Comments Off

There’s a flood of reaction out there among Progressives and other Democrats criticizing the recent “tax deal” on grounds that President Obama was rolled again and got far too little for his agreement to extend the Bush Tax Cuts for the wealthy, and agree to Estate tax rates of 35%. I share that opinion. But [...]

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Tags: Politics

Co-ordinated Around the Wrong Thing

November 24th, 2010 · Comments Off

Yesterday, R. J. Eskow remarked: We expected to see an all-out assault on Social Security and progressive taxation in November, and we expected it to come under the banner of “deficit reduction.” That was always the plan: Wait until after the election, when a lame-duck Congress could pass the preferred policies with the least political [...]

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Tags: Politics

Fiscal Sustainability Conference Videos and Transcripts Now Available

November 24th, 2010 · 1 Comment

On April 28, 2010, The Fiscal Sustainability Teach-In Counter-Conference was held at The Marvin Center of The George Washington University In Washington, DC. The Conference was first proposed in a post I blogged on April 7th at a number of sites including this one. A group of bloggers responded and collectively, using primarily the Correntewire.com [...]

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Tags: Politics

Ezra Looks Over There At the Debt-to-GDP Ratio

October 27th, 2010 · Comments Off

Ezra Klein did a piece yesterday offering the conventional deficit dove position on deficits and debt. Here’s a commentary on it. Gallup’s survey of voter preferences for closing the entitlement gap is incomplete It suggests the options on entitlements are like a second-grade arithmetic problem: You can either add stuff (tax increases) or subtract stuff [...]

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Tags: Politics

Myths of Peter Orszag

September 9th, 2010 · Comments Off

Orszag’s maiden voyage at the New York Times entitled “One Nation, Two Deficits,” is full of myths, and that’s the polite way to say it. I’ll review these and comment on each of them one-by-one.

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Tags: Politics

Why Should We ACT Based on CBO’s Projections?

August 12th, 2010 · Comments Off

Today, Dean Baker questioned the sanity of The Washington Post, after its editorial staff once again came out for cuts in Social Security to avert a crisis which will not be manifest until 2037. In reply to the Post’s observation that this year is the first in which the Social Security program will pay out [...]

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Tags: Politics

Past Time To Get Serious

July 24th, 2010 · 1 Comment

These last couple of days, I happened to see a couple of pieces by Robert Borosage. The first of these called “Kick the Old and Disabled to Show We’re Serious About Deficits,” is about organizing and fighting back against the deficit terrorist movement to cut Social Security, and reported that Borosage’s organization, the Campaign for [...]

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Tags: Politics