This tag is associated with 13 posts

Congress Fails to Remove another Threat early next Year of Default

(Analysis) Congress finally passed a bill this week that allowed the federal government both to reopen fully, and to borrow funds in order to pay for spending on programs already approved by Congress. After more than two weeks of brinkmanship, the solution to a crisis manufactured solely by Congress – especially by republicans in the … Continue reading

Policymakers Have Failed to Restore the Temple

(Editorial) In his first Inaugural Address, President Franklin D. Roosevelt (D) remarked that the money changers had “fled from their high seats in the temple of our civilization”. Shortly thereafter, New Dealers began to establish a new regime which would endure through the early 1970s. This regime proved remarkably stable, and it delivered prosperity to … Continue reading

A Challenge to any Well-meaning Policymaker Left in our Democracy

(Editorial) This content might be read as an open letter to our policymakers, who are the victims of receiving only self-serving advice from lobbyists and so-called independent policy experts. Whereas advice from policy research institutes and other ostensibly non-lobbying sources should serve as a guide for policymakers when judging policies lobbied for by big-pocketed special … Continue reading

Economic Distress in North Atlantic Could Be Worrisome Politically

(International) Economic distress – when an economy is in such a woeful state that fear becomes a prime motivator in politics, is nearing critical mass in many north Atlantic states. It is the stuff of dangerous right-wing dictatorship. The euro area continues to follow a now-discredited policy of austerity, even as it continues in recession … Continue reading

Roll Back the Clock. Repeat 3 Decades.

(Editorial) One gets the feeling when looking at officially published GDP data that we have come full circle – we both begin the series in 1929 and end it in 2012 with an episode of steep decline and multiple years of below-trend levels reported. Without getting into any sophisticated analysis or addressing correlation-causality issues, there … Continue reading

NYS Economy Can Save Over $9 Billion Each Year

(Analysis) As NYS citizens collectively make do with less because the private sector is incapable of delivering either full employment or the economy’s potential for output, and government officials refuse to stimulate the economy in order to reach either mark, here’s one way we can collectively clear an estimated $9 billion per year: set up … Continue reading

Tough Love from Governor to Local Governments in upstate NY

(NYS) Governor Andrew Cuomo (D-NY) delivered a tough message to local governments in upstate NY during a televised meeting in Albany. Stating bluntly that many local governments have been functionally insolvent for many years, Cuomo highlighted his administration’s push to restructure financially-distressed localities through a financial restructuring group. NYS Budget Director Robert Megna offered some … Continue reading

More Evidence of WNY Austerity

(WNY) Recent WNY-WJ content showed total government employment down in the Buffalo-Niagara Falls, NY area since the recession, suggesting evidence locally for the now-discredited policy of austerity – where government spending is slashed in the hope of improving economic performance through lower deficits. This new evidence is more direct. It is an index – where … Continue reading

Plucking the Feathers From Deficit Hawks

(Analysis) Recent events have changed the tenor of the budget debate worldwide. We are witnessing a moment when the entire support structure upon which the belief that there is a short-term debt problem rests, crumble. Each new day brings more data confirming both low borrowing costs for the US Government and no inflation problem in … Continue reading

Local Area’s Austerity Is Bad Medicine

(WNY) As many advanced economies of the world suffer unnecessarily through self-imposed austerity – where government spending is cut in the mistaken hope of spurring economic growth through lower deficits during a time of poor economic performance, there is evidence in government statistics to show that austerity is happening locally in the Buffalo area. The … Continue reading

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