Robert Kuttner

Robert Kuttner is co-founder and co-editor of The American Prospect, a professor at Brandeis University's Heller School, and a distinguished senior fellow of the think tank Demos. He was a longtime columnist for Business Week and continues to write columns in The Boston Globe. He is the author of Obama's Challenge and other books.

Recent Articles

Eternal Summers

AP Photo/J. Scott Applewhite N ow that President Obama has made it clear in a meeting with the House Democratic Caucus that he is standing by his man, what comes next in the Larry Summers/Janet Yellen/Federal Reserve psychodrama? Will Obama damn the torpedoes and pick Summers to chair the Fed? Will he conclude that Summers has too much baggage and give the job to Yellen—or go with a third candidate? What’s clear now is that Obama himself would like to appoint Summers. The lobbying for Summers by the group of Robert Rubin protégés around the president has been internalized by Obama himself. But Obama insists that he still hasn’t made up his mind. In the end, the president’s decision will boil down to two questions. Can Summers be confirmed? And even if he can win confirmation after a hard-fought vote, would the process unearth such messy information that the White House would conclude that it’s best not to try? The letter by 19 Senate Democrats supporting Janet Yellen is probably the...

Must Austerity Keep Winning?

T he EU’s extreme version of budget cutting has pushed the European economy ever deeper into its worst recession since World War II. The United States, pursuing a bipartisan target of $4 trillion in budget cuts over a decade, is mired in an economy of slow growth and inadequate job creation. Our government’s failure to give debt relief to indentured college students and underwater homeowners functions as a multitrillion-dollar twin drag on a feeble recovery. The smart money knows just how weak this economy is. Federal Reserve Chair Ben Bernanke had only to suggest that he might nudge interest rates up a bit, and markets panicked. So austerity is the wrong medicine for the prolonged aftermath of a financial collapse. Case closed. But hold on. Winning the intellectual debate doesn’t matter, because we keep losing the politics. Until we start changing the policies, or at least begin causing more political embarrassment for the budget hawks, austerity will reign, no matter how perverse...

Brave Words, Awaiting a Stronger Program

AP Photo/Susan Walsh P resident Barack Obama gave a fine speech at Knox College, the scene of one of his most effective pre-presidential moments—a 2005 commencement address he gave as an Illinois senator. Now we need to see whether he follows up with a clear and comprehensive program and brave politics to match. On the plus side, he did not shrink from calling out the Republicans for their sheer negativity and their embrace of trickle down economics. If you ask some of these Republicans about their economic agenda, or how they’d strengthen the middle class, they’ll shift the topic to “out-of-control” government spending—despite the fact that we have cut the deficit by nearly half as a share of the economy since I took office. Or they’ll talk about government assistance for the poor, despite the fact that they’ve already cut early education for vulnerable kids and insurance for people who’ve lost their jobs through no fault of their own. Or they’ll bring up Obamacare, despite the fact...

Nothing to Hide, Much to Fear

AP Photo/Marcio Jose Sanchez
I n reviewing the public’s ambivalent reaction to the disclosures of NSA data mining , I find that some people conclude that it’s no big deal, while others are uneasy but can’t quite explain why. It’s just a modest generic invasion of privacy that is not even activated in most cases. Presumably, this is a weapon that the authorities need to keep us safe. After closed-door hearings yesterday, some skeptics on Capitol Hill were somewhat reassured that safeguards are adequate. If you are in this camp, here are three good reasons to reconsider. First, the history of such surveillance is that it tends to be abused. As heedless of civil liberties as Attorney General Eric Holder has been, he is surely better than whoever the next Republican Attorney General might be. Remember Alberto Gonzalez? Secondly, the authorities tend to define terrorism down. After the Patriot Act was passed, Attorney General Gonzalez kept assuring the Congress and the American public that its sweeping powers would...

The End of the Austerity Crusade?

Rex Features via AP Images
I s President Obama planning to reverse course on deficit reduction? You will recall that the president joined the deficit-hawk crowd in calling for more than $4 trillion of deficit reduction over the next decade; that he has offered to cut Social Security and Medicare as part of a grand bargain (that the Republicans mercifully rejected); that it was Obama who appointed the Bowles-Simpson Commission; and that his own budget for FY 2014 includes substantial spending cuts. But, with the 2014 midterm election looming and the recovery stuck in second gear with mediocre job creation, there is zero chance of a grand-budget bargain that includes tax increases, and interest rates are creeping up (which will slow the recovery further). Europe demonstrates that austerity economics are a proven failure. Even the International Monetary Fund says so . So let us read the tea leaves. First, the president has just named Jason Furman to chair the Council of Economic Advisers (CEA). Furman was a...

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