Fiscal Cliff and Grand Bargain (aka Grand Betrayal)
(1) “Don’t Drive Off the Fiscal Cliff”: I just posted Heidi Garrett-Peltier’s comment from our September/October issue, Don’t Drive Off the Fiscal Cliff. The Serious People (e.g. here and here) seem to agree that the first post-election order of business is to deal with the “fiscal crisis”; Heidi shows how the fiscal cliff can be avoided without any kind of Grand Bargain that involves austerity, gutting the social safety net, etc.
(2) Bill Black on the “Grand Betrayal”: Bill Black of the University of Missouri at Kansas City has a great post at New Economic Perspectives about the Grand Bargain that Obama seems likely to rush into: Wall Street Urges Obama to Commit the Grand Betrayal. Nixon in China; Obama Dismantling “Entitlements.” Nice takedown of Third Way.
(3) New Article on the Big Lie About the “Entitlement State”: A take-down of David Brooks, by D&S co-editor Alejandro Reuss. I will post it soon–probably on Monday or Tuesday.
That’s it for now,