Category Archives: Joe Firestone

Executive Orders: A Fair Ranking of Presidents from Least Active to Most Active

By Joe Firestone

Lately, Republicans have been riding the hobby horse of charging the President with being a dictator. Well clearly he is not that, or he would have had them imprisoned, or worse, a long time ago. On the other hand, the President’s hands are far from clean when it comes to activities like illegal surveillance of Americans, drone strikes without due process, collusion of the Government with local authorities to repress Occupy exercising its rights of free speech and assembly, and failure to enforce the law with reference to torture of prisoners, and control frauds in the FIRE sector.Have I covered everything, or did I forget something?

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An Even Better Way to Get Money Out of Politics

By Joe Firestone

A couple of weeks ago, I posted on a simple solution to the problem of getting money out of politics. I said then:

If the election you’re voting in is virtually a two candidate contest, then vote for the candidate, who, in combination with her/his supporters spends the least amount of money. In a virtual multi-candidate contest, do the same thing.
That’s the proposal, in its simplest form. Its objective is to reverse the current race to the bottom in buying elections by ensuring that there would be a powerful incentive to start a race to the top to raise and spend as little money as possible in campaigns. That incentive is that if you spend too much you lose, pure and simple.
The other rationale for the rule is that the person who raises and spends the least amount of money for a campaign, will generally be the person who is “less bought” by wealthy people, financial interests, and large corporations. Eventually, if the rule took hold it would no longer be said of the Congress that “the banks own the place.”

I cross-post at a number of sites, and at Daily Kos I received a comment from “Musial,” which being of a certain age, engaged me immediately. The comment advised me to read the “money outta politics” solution, which “Musial” felt was superior to my own. It says:

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Peterson Thinks We Need Austerity While He Lives It Up!

By Joe Firestone

The Peterson Foundation reacted to the President’s budget document with a report repeating its usual whining about the debt problem, and the need to cut entitlements. Here are quotations from the report and my explanations of why they are ridiculous deficit/debt terrorist nonsense.

While today’s deficits are much lower than those during the financial crisis and recession, over the next ten years debt will remain at historically high levels under the policies outlined in the President’s budget. Over the long term, our debt is on a rising and unsustainable path that harms our economy and threatens our future standard of living.

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No, Virginia, the Austerity Era Is Not Over

By Joe Firestone

If the President’s budget were enacted by Congress, and OMB’s projections over the next decade hold, it would almost certainly mean economic stagnation punctuated by recession over the next decade. Would it also mean austerity, however? Let’s see.

The Sector Financial Balances (SFB) model is an accounting identity, and these are always true by definition alone. The SFB model says:

Domestic Private Balance + Domestic Government Balance + Foreign Balance = 0.

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Getting Big Money Out of Politics: A Solution

By Joe Firestone

A lot of Americans have the feeling that those who have and supply big money to candidates, office holders, lobby groups, think tanks, and media have bought politics. That it is they who are determining the agendas that office holders act upon and even the specific decisions they make in passing laws and rendering executive and even judicial decisions. This short post won’t debate the extent to which big money has perverted democratic processes in the United States. Instead it will offer a simple, perhaps an oversimple, solution to the problem that will really work. Here it is. Continue reading

How to Restore the Good Name of Government

By Joe Firestone

Why is it that Washington village “progressives,” and their associates in other parts of the country who are nevertheless part of the Washington village culture, often ask useful questions, but, almost always deliver, underwhelming answers? Here’s an example from Richard Eskow, probably the best writer at Campaign for the American Future.

How do we restore the good name of government spending, which is especially important during periods of high unemployment and slow growth like these? First, by supporting those politicians who are unafraid to make the case. Second, by demanding that the reluctant ones take a bolder stand – without mixing their messages between spending and premature austerity. Third, by rejecting the insanity that today’s Republican Party represents. Some in the GOP are even opposing infrastructure spending – as America’s bridges, schools, highways and dams decay around us.

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What that Letter Should Have Said

By Joe Firestone

On Valentine’s Day, Senator Bernie Sanders sent a letter to the President, authored by himself and signed by 15 other Senators, all Democrats. The letter was a response to the rumors that the President intends to include his Chained CPI proposal to cut Social Security benefits in the budget he will soon send to Congress. It summarized:

“Mr. President: These are tough times for our country. With the middle class struggling and more people living in poverty than ever before, we urge you not to propose cuts in your budget to Social Security, Medicare, and Medicaid benefits which would make life even more difficult for some of the most vulnerable people in America.

We look forward to working with you in support of the needs of the elderly, the children, the sick and the poor – and all working Americans.”

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Dear Dr. Krugman: Please Let Me Explain

By Joe Firestone

Paul Krugman can’t explain why the deficit issue has suddenly dropped off the agenda. He says:

. . . quite suddenly the whole thing has dropped off the agenda.

You could say that this reflects the dwindling of the deficit — but that’s old news; anyone doing the math saw this coming quite a while ago. Or you could mention the failure of the often-predicted financial crisis to arrive — but after so many years of being wrong, why should a few months more have caused the deficit scolds to disappear in a puff of smoke?

Why indeed are they so quiet? Could it be because the deficit hawks have succeeded in getting the short-term result they want, which is a likely deficit too small to sustain the private savings and import desires of most Americans, and also because the political climate is such right now that they cannot make progress on their longer term entitlement-cutting program until after the coming elections have resolved the issue of whether there will be strong resistance to such a campaign if they renew it? Let’s look at the budget outlook first.

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What Now?

By Joe Firestone

Today, John Boehner bowed to the inevitable logic of the impending political season and placed a “clean” debt ceiling increase bill on the floor of the House. At this writing, the bill passed with 28 Republican and 193 Democratic votes. Now it moves on to the Senate, where it is expected to pass in time to allow the Treasury to keep issuing debt instruments.

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Does the Debt Ceiling Have to Be Raised?

By Joe Firestone

Lately, the word out of Washington, DC from the plugged in people is that there will be no debt ceiling crisis coming up before the election. Politico says so, and so does the National Journal. MSNBC also agrees.
But not so fast, says the Washington Post, echoing the Wall Street Journal provided the House Republicans can agree on “. . . an extortion demand.” If they can, then we wll have another debt ceiling crisis.

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