It is important to put budget issues in perspective, so I have a simple request that President Obama, the top members of his administration, and his allies in Congress send a hand written version of this letter to constituents: Dear low-income American, I know times are tough. I know many of you saw your savings [...]

For most of the year, Washington is overrun with deficit hysteria, but right now is that special, magical time of the year. No I’m not talking about Christmas! I’m talking about the joyous season of the January 1 scheduled end of temporary tax provisions that would increase rates for the ultra wealthy and end select [...]

Now that President Obama has reach a “compromise” with the Republicans on tax cuts for the rich — which are even more generous to the ultra-wealthy than any George W. Bush passed — it’s time for predictions.

With Washington in the grips of a new wave of deficit hysteria and people in power feeling at this moment an overwhelming desire to make the less advantaged among us sacrifice in the name of austerity, it is normal for progressives to sound defensive around the cackle of deficit chickenhawks. While it is critical that [...]

I notice that the Daily Beast decided to do a long PR ad for an interview with Peter Peterson, which tried to make clear just how reasonable the man is. Many of his cheerleaders quickly hailed it as persuasive proof. The problem is that on the issue of the deficit, Peterson is a self-serving hypocrite. [...]

Few things better demonstrate the ludicrous futility of the Senate’s deficit hysteria than Sen. Blanche Lincoln’s (D-AR) and John Kyl’s (R-AZ) long fight to cut the estate tax. From The Hill: Their proposal would require Democratic leaders to amend the small-business jobs bill with a provision that sets the estate tax at 35 percent with [...]

While collective deficit hysteria fully grips Washington, what the American people really care about is jobs and the economy. According to a new CBS News poll, 38 percent of Americans think the most important problem facing our country is the economy and jobs. Second is the wars in Iraq and Afghanistan at seven percent. Health [...]