David Dayen

David Dayen is a writer based in Los Angeles, California.

Recent Articles

Gang of Meddlers

The Senate bipartisan commission's plan for reducing the deficit throws a spanner in the works.

(AP Photo/Alex Brandon) Sen. Mark Warner, D-Va., and Sen. Saxby Chambliss, R-Ga., leaders of "The Gang of Six"

The debate over raising the nation's debt ceiling has strayed into dangerous territory. After talks broke down last Friday between President Barack Obama and House Speaker John Boehner on a "grand bargain" to cut budget deficits by $4 trillion over the next decade, both Republicans and Democrats rushed to blame the opposing side.

And for His Next Trick

Mitch McConnell offers a debt-ceiling plan that is all smoke and mirrors.

(AP Photo/Susan Walsh)

Senate Minority Leader Mitch McConnell has concocted an elaborate scheme that would allow President Barack Obama a clean shot at raising the debt limit, in three installments, over the next year and a half. Unlike his fellow Republicans, McConnell will not use the debt-ceiling fight to force cuts in discretionary spending or safety-net programs. Instead, he focuses on his chief preoccupation: winning elections for the GOP.

I Ruined the Economy and All I Got Were These Lousy Tax Cuts

Will the GOP's budget plan spark a double-dip recession?

(Flickr/Medill DC)

Last week, Ben Bernanke delivered a speech in which he agreed that the government should reduce the deficit. However, he cautioned, "a sharp fiscal consolidation focused on the very near term could be self-defeating if it were to undercut the still-fragile recovery."

The Democrats' Trump Card

Democrats threaten reconciliation in the fight over federal spending.

House Majority Leader Eric Cantor and Vice President Joe Biden at talks on a budget deal on Thursday, May 5, 2011, at Blair House in Washington. (AP Photo/J. Scott Applewhite)

The Democrat-controlled Senate has yet to vote on a 2012 budget that would serve as a counterpoint to the Medicare-slashing Paul Ryan plan that passed the House. When Senate Budget Committee Chair Kent Conrad explained on May 19 why he wasn't taking a budget proposal to the Senate floor, he may have said too much.

Off Register

County-level officials take on big banks over irregularities in records that cost localities millions.

State and federal regulators have yet to stop mortgage-foreclosure abuses and exact punishment on the banks responsible for them. A slap on the wrist for 14 of the largest mortgage firms, a still fruitless effort by state attorneys general to reach a settlement with banks, and superficial investigations into the extent of the abuses have done little to answer questions about the proliferation of mortgage fraud. Without that knowledge, regulators are at a disadvantage in arriving at an equitable solution.

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