Republicans

My take: The issue is real and if the debt ceiling is not increased, the US will slip into a double dip recession in which unemployment will rise higher and stocks will sink lower than in 2009. Voters now see this as a predominately…

If I had to make parallels for today's time in history, I still say this is Hoover’s time, not Roosevelt’s and certainly not Clinton’s.

If Cantor doesn’t fold his hand, it will be a political disaster for him and his party and economic disaster for the global economy.

Michael Hudson argues that President Obama says one thing, and he does the opposite. Here’s basically the charade that’s happening when he’s trying to be reasonable. In order for him to move way to the right and to continue the Bush…

The larger question is the economy. If it improves from here, the President gets re-elected. If the debt ceiling and budget cut debates tank the economy, the Republicans will get the blame and Obama wins too. If the economy sours without a…

Even if the debt ceiling showdown ends without default, there will be more shutdown attempts when the federal budget comes up for review in the fall. Get ready for more gridlock – and a US sovereign debt ratings downgrade.

My hope is that, despite slowing in Europe and China, the global economy will have enough pop to get the US through its experiment with expansionary fiscal contraction. But this is just a hope.

David Stockman was on Bloomberg yesterday reviewing the Obama 2011 Budget proposal. His view dovetails with the view on the budget I presented yesterday, when I said: The key, however, is that no one actually wants to cut the items in…

I was on the BBC this morning talking about the Obama FY 2012 budget proposal. Here's what I said and what I think about the proposal so far (If I get the video, I will post). This post will be more about the political tactics and…

by William K. Black You know the administration is desperate when it creates a web page citing economists who support its capitulation on taxes. The web page cites the support of five economists. Peter Cardillo, the Bank of America, Greg…