Robert Reich

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.

Recent Articles

Don't Count on a Sane GOP

AP Photo
A week before his inaugural, President Obama says he won’t negotiate with Republicans over raising the debt limit. At an unexpected news conference on Monday he said he won’t trade cuts in government spending in exchange for raising the borrowing limit. “If the goal is to make sure that we are being responsible about our debt and our deficit - if that’s the conversation we’re having, I’m happy to have that conversation,” Obama said. “What I will not do is to have that negotiation with a gun at the head of the American people.” Well and good. But what, exactly, is the President’s strategy when the debt ceiling has to be raised, if the GOP hasn’t relented? He’s ruled out an end-run around the GOP. The White House said over the weekend that the President won’t rely on the Fourteenth Amendment, which arguably gives him authority to raise the debt ceiling on his own. And his Treasury Department has nixed the idea of issuing a $1 trillion platinum coin that could be deposited with the Fed,...

Obama's Options on 2013's Big Issues

AP Photo/Carolyn Kaster
Anyone who thinks congressional Republicans will roll over on the debt ceiling or gun control or other pending hot-button issues hasn’t been paying attention. But the President can use certain tools that come with his office—responsibilities enshrined in the Constitution and in his capacity as the nation’s chief law-enforcer—to achieve some of his objectives. On the debt ceiling, for example, he might pay the nation’s creditors regardless of any vote on the debt ceiling—based on the the Fourteenth Amendment’s explicit directive (in Section 4) that “the validity of the public debt of the United States … shall not be questioned.” Or, rather than issue more debt, the President might use a loophole in a law (31 USC, Section 5112) allowing the Treasury to issue commemorative coins—minting a $1 trillion coin and then depositing it with the Fed. Both gambits would almost certainly end up in the Supreme Court, but not before they’ve been used to pay the nation’s bills. (It’s doubtful any...

It's Not about the Deficit

Flickr/401(K) 2012
“It’s not all I would have liked,” says Republican Senator Lindsey Graham of South Carolina, speaking of the deal on the fiscal cliff, “so on to the debt ceiling.” The battle over the fiscal cliff was only a prelude to the coming battle over raising the debt ceiling—a battle that will likely continue through early March, when the Treasury runs out of tricks to avoid a default on the nation’s debt. The White House’s and Democrats’ single biggest failure in the cliff negotiations was not getting Republicans’ agreement to raise the debt ceiling. The last time the debt ceiling had to be raised, in 2011, Republicans demanded major cuts in programs for the poor as well as Medicare and Social Security. They got some concessions from the White House but didn’t get what they wanted—which led us to the fiscal cliff. So we’ve come full circle. On it goes, battle after battle in what seems an unending war that began with the election of Tea Party Republicans in November, 2010. Don’t be fooled...

A Lousy Deal on the Edge of the Fiscal Cliff

AP Photo/Charles Dharapak
AP Photo/Charles Dharapak President Barack Obama speaks about the fiscal cliff in the South Court Auditorium of the White House earlier today. The deal emerging from the Senate on the fiscal cliff is a lousy one. Let me count the ways: 1. Republicans haven’t conceded anything on the debt ceiling, so over the next two months—as the Treasury runs out of tricks to avoid a default—Republicans are likely to do exactly what they did before, which is to hold their votes on raising the debt ceiling hostage to major cuts in programs for the poor and in Medicare and Social Security. 2. The deal makes tax cuts for the rich permanent (extending the Bush tax cuts for incomes up to $400,000 if filing singly and $450,000 if jointly) while extending refundable tax credits for the poor (child tax credit, enlarged EITC, and tuition tax credit) for only five years. There’s absolutely no justification for this asymmetry. 3. It doesn’t get nearly enough revenue from the wealthiest 2 percent—only $600...

Obama's Unwise, Unnecessary Concessions

AP Photo/ Evan Vucci
AP Photo/ Evan Vucci President Barack Obama talks about the fiscal-cliff negotiations during a news conference yesterday. W hy is the president back to making premature and unnecessary concessions to Republicans? Two central issues in the 2012 presidential election were whether the Bush tax cuts should be ended for people earning over $250,000, and whether Social Security and Medicare should be protected from future budget cuts. The president said yes to both. Republicans said no. Obama won. But apparently Obama is now offering to continue to Bush tax cuts for people earning between $250,000 and $400,000, and to cut Social Security by reducing annual cost-of-living adjustments. These concessions aren’t necessary. If the nation goes over the so-called “fiscal cliff” and tax rates return to what they were under Bill Clinton, Democrats can then introduce a tax cut for everyone earning under $250,000 and make it retroactive to the start of the year. They can combine it with a spending...