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Peter G. Peterson

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For US Democracy: There Is Only One Choice

Cover of Real Fiscal Responsibility, Vol II

We need big, big changes in the United States. Many of them will require the Federal Government to spend unprecedented amounts, including deficit spending to enable us to solve problems that have languished, creating needs, for many, many years.

How can we get these changes legislated through a political system that has been increasingly less responsive to most people over the past four decades. There’s only one way that will work without revolution.

We need a movement for change powerful enough to replace the present establishment of House and Senate legislators and presidents wanting to preserve their way of looking at how to do things, with another group that has concluded that change is desperately needed and must be accomplished come what may, whatever the cost in long established customs and traditions in both Houses of Congress and among the vested political and communications elites in the Washington, DC/New York “village.” But not just any changes will do. Read more about For US Democracy: There Is Only One Choice

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Dear Dr. Krugman: Please Let Me Explain

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The Five Worst Reasons Why the National Debt Should Matter To You: Part Four, The Three Real Reasons

This is the concluding post in a four part series on the “Top” reasons why the national debt should matter. In Part One, I considered “Fix the Debt's” claim that high levels of debt cause high unemployment and argued that this is a false claim. In Part Two, I followed with a review of the historical record from 1930 to the present and showed that it refutes this claim throughout this period, and that there is not even one Administration where the evidence doesn't contradict “Fix the Debt's” theory. In Part Three I showed that the other four reasons advanced by “Fix the Debt” also had very little going for them. In this part, I'll give reasons why the national debt does matter, and why we should fix it without breaking America, or causing people to suffer. Read more about The Five Worst Reasons Why the National Debt Should Matter To You: Part Four, The Three Real Reasons

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The Five Worst Reasons Why the National Debt Should Matter To You: Part Two, the Record Since 1930

In Part One, of a critique of the most important of "Fix the Debt's" reasons for "Why the National Debt Should Matter To You," I asserted that high debt levels haven't caused high unemployment in the United States, and that, if anything causation was in the other direction. I didn't want to disturb the flow of the argument there with a relatively lengthy survey of some of the numbers in the historical record since the 1930s. But let's test the idea that High debt causes fewer jobs and lower wages in the United States by looking at that record now. Read more about The Five Worst Reasons Why the National Debt Should Matter To You: Part Two, the Record Since 1930

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Randy's Terrific Rant

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Professor L. Randall Wray of the Department of Economics, University of Missouri, Kansas City is one of the leaders of the Modern Monetary Theory (MMT) approach to economics. His blogs are very clearly and simply written, well-organized, thorough, and generally fairly dispassionate. Read more about Randy's Terrific Rant

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Imaginary Problem; Hurtful Solutions

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The Washington Post editorial page has been one of the primary MSM outlets for aggressive deficit terrorism. There is an axis of deficit terrorism in Washington DC today. It runs from Hooverite Republicans such as Judd Gregg and Mike Spence, to Blue Dog Democrats like Evan Bayh and Kent Conrad, to media organizations like CNN, WaPo, and the Peter G. Peterson funded The Fiscal Times, to foundations like The Peter G. Peterson Foundation, and Peterson-funded think tanks like AmericaSpeaks, to the Congressional Budget Office (CBO), to high-level Administration people like OMB Director designate Jack Lew, and judging by his speech and actions, to Barack Obama himself. This axis has been laying down a carpet of continuous propaganda for many months now distracting attention from the immediate problem of getting people back to work, and toward doing something about an assumed long-term problem, that some argue is fictional, and that many others think may, but, will most probably not, occur

Last Saturday, the WaPo added to its place in progressive infamy with an editorial that managed, in a few short paragraphs, to repeat many of the false arguments the deficit terrorists use to scare Americans into thinking that we really have to cut Government spending as soon as we can or we will be facing unbearable suffering in future years. This post will review that editorial in detail. It begins: Read more about Imaginary Problem; Hurtful Solutions

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The Procrustean Democracy of AmericaSpeaks: Part Six

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In Part 5, I continued my analysis of the June 26th AmericaSpeaks Community Conversation event I attended in Falls Church, VA, focusing on Step Five in the decision process used in the meeting. In that post the specific option choice frameworks AmericaSpeaks presented to participants in the categories of Health Care and Social Security spending, and analyzed the biases inherent in the way they were structured. Read more about The Procrustean Democracy of AmericaSpeaks: Part Six

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The Procrustean Democracy of AmericaSpeaks: Part Five

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In my last post I continued my analysis of the June 26th AmericaSpeaks Community Conversation event I attended in Falls Church, VA, focusing on Step Five in the decision process used in the meeting. In that post I was critical of the overall bias in the general orientation toward the options workbook and the choices to be made in the process. Read more about The Procrustean Democracy of AmericaSpeaks: Part Five

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The Procrustean Democracy of AmericaSpeaks: Part Four

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In my previous three posts analyzing the June 26th AmericaSpeaks Community Conversation event I attended in Falls Church, VA, I presented the steps in the decision process used for the event, and discussed the pre-conference phase and the first four steps. Read more about The Procrustean Democracy of AmericaSpeaks: Part Four

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