Robert B. Reich, a co-founder of The American Prospect, is a Professor of Public Policy at the Goldman School of Public Policy at the University of California at Berkeley. His website can be found here and his blog can be found here.
Broadcast Oct 5, 2001 Alan Greenspan is pushing on a wet noodle. The Fed has repeatedly cut interest rates since January and nothing's happened which means that we shouldn't expect this week's half percent rate cut to have much impact either. Even figuring in the normal time lag between a rate cut and response, the fact is this economy just isn't responding. Luckily the car has two accelerators. If the Fed's monetary policy isn't enough, there's fiscal policy. This week, the president lent his support to a stimulus package of between $60 billion and $75 billion in the form of additional tax cuts and spending. Now the good news is that the White House and Congress are no longer obsessing about saving the Social Security surplus or indulging in any other accounting fiction. The national economy is near or in a recession, and Washington understands that now is the time for government to spend more and tax less even if that means temporarily going into the red. The bad news is that...
Los Angeles Times Senate Democrats have managed to whittle George W 's tax cut from $1.6 trillion to $1.2 trillion. Big deal. Last year, Bill Clinton vetoed a $700 billion tax cut. And once the Senate tax bill goes to conference with the House, it's sure to be back up there where Bush wants it. Democrats can't fight Bush's tax cut with nothing but an admonition that it's "too large." They need to put something else on the table that's important to working Americans -- and which won't be possible if the surplus is used for Bush's tax cut. That something is universal health care. Besides, what better time than now to revive the idea of universal health care? There's a huge budget surplus. Meanwhile, the number of Americans lacking health insurance continues to rise (now almost 43 million, up from 38 million ten years ago). And those who have it are paying more than ever in co-payments, deductibles, and premiums. About 28 million households now spend more than 10 percent of their pay on...
A s more Americans become disengaged from politics, America's political class has declared civil war. The 2000 election is a case in point. Prior to election day, it was dull, lifeless, and tightly scripted. The candidates fulminated over their differing versions of prescription drug benefits. Half of America's eligible voters didn't even bother voting.
After election day, all hell broke loose. Americans didn't suddenly become more fiercely partisan. It was politicians and party loyalists who did, because there was no longer a script. Neither candidate had much to lose by escalating the post-election battle into a no-holds-barred civil war, and each had everything to gain if he won. Politics was exposed for what it has become--a power grab.
One result: More exciting television. Pandemonium is a great spectator sport. Far larger numbers of Americans tuned in after election day than before. Chris Matthews told me his ratings were twice as high. CNN and...
The London Observer
Al Gore is finally on a roll. But where will it take him? This past week
he's been telling Americans 'we've got to put you first' and not 'the ones
with connections, the ones with wealth, the ones with power above and
beyond what the average family has in this country'. He's for the people,
while 'the other side' is for the powerful. It's good old-fashioned
hell-fire-and-brimstone political rhetoric. During the Thirties, Franklin D.
Roosevelt condemned the 'economic royalists' - America's big businesses
that, he said, were stomping on average Americans. In 1912, progressive
Republican Teddy Roosevelt blamed the 'malefactors of great wealth' for
subjugating the 'little man' of America. In the 1890s, prairie populist
William Jennings Bryan (who almost made it to the White House) railed at
the bankers and other 'powerful interests' who were 'bankrupting'
The Los Angeles Times
In this election cycle, those 'issues ads' he created last time are likely to be
exceeded by the GOP.
You'd be forgiven if you thought of the contest for the presidency as two
big battles--first, the primary battle to choose each party's nominee, which
this year is effectively over, and then the general election battle, which
starts just after the nominating conventions in August and runs through
election day. So you might suppose that now we'll have a 5-month
But you'd be wrong. One of the most important battles of the election will
be between now and Aug. 15. That's when each likely nominee will launch
intense barrages of televised ads designed to raise questions in voters'
minds about the suitability of his rival in the opposite party. The ads will be
paid for largely by big, unregulated donations to the Republican and
Democratic national committees-- "soft...