TheRealNews on Nov 21, 2011
Michael Hudson: Austerity and recession used to lower wages
As the November 23rd deadline approaches for the “super committee” to find $1.2 trillion in deficit cuts over the next 10 years, I am writing to urge the members of the committee to consider options to cut government spending and raise revenue that extend beyond those typically discussed on Capitol Hill and in the media. Members of Congress – both Democrats and Republicans – often appear to be struggling to find deficit-cutting proposals that will either go far enough or attract bipartisan support. I have two proposals that should on the merits – absent the undue influence of special interests in our nation.
As was revealed in summer, when Tea Party Republicans were prepared to see America’s credit rating downgraded from AAA for the first time in its history rather than reaching a budget agreement with the administration (an act that ought to have counted as economic treason), the possibility of a bipartisan group reaching an agreement to reduce America’ s deficit has to be regarded as something close to impossible.
It is no great surprise that with only days to go, the congressional “super committee,” given the herculean task of carving an additional $1.2 trillion out of the federal budget, has failed to reach agreement. Why should six Republicans and six Democrats with diametrically opposed views agree in a few weeks, when Congress couldn’t shake hands on it after months of wrangling, despite the guillotine blade of a federal default hanging over their heads?
The Boston Globe had a blaring headline on August 14: ‘Doomsday’ defense cuts directly affect panel members – Large military contractors are in their states.
Put your ear to the railroad tracks and you can hear the train coming. Now that the new 12-member Congressional “Super Committee” has essentially been given the power of God (and the Devil) the military industrial complex, and their appendage called the corporate media, are swinging into action. Continue reading
No “Super Congress” should be acceptable to anyone who claims to be a Democrat. This is fascism on a plate! It’s bad enough we’ve got five kinglets running amok on the Supreme Court.
My son and I, life-long Democrats who always voted in the past, will never vote again for any politician who votes for a deal that cuts Social Security, Medicare and/or Medicaid, or sets up a band of tyrants to force the hand of our elected representatives. Continue reading