The Great Debate

The fast track to a balanced budget

By Howell E. Jackson
February 8, 2012

The state of the union, fiscally speaking, is perilous. Despite record deficits and dire warnings from Europe as to the consequences of sustained fiscal imbalance, our leaders have been unable to find common ground. The Simpson-Bowles Commission in 2010, the Gang of Six last summer and the misnamed Super Committee of this past fall were all bipartisan efforts to cut through the Gordian knot of budgetary gridlock. And all of them failed. Miserably.

Keystone XL’s organizing principle

By David Roberts
January 19, 2012

In October 2011, National Journal surveyed energy experts about whether Obama was likely to approve the Keystone XL pipeline, which would carry Canadian tar-sands oil through the U.S. to the Gulf of Mexico. Ninety-one percent of the “energy and environment insiders” believed he would.

from David Cay Johnston:

Time to junk income taxes?

By David Cay Johnston
January 6, 2012

This is America's 100th year for individual income tax, a system as out of touch with our era as digital music is with the hand-cranked Victrola music players of 1912. It is also the 26th year of the Reagan-era reform for both personal and corporate tax, a grand design now buried under special-interest favors.

Stopping the Stop Online Piracy Act

By Nancy Scola
December 28, 2011

Now that Congress has hit pause on its controversial Stop Online Piracy Act and nearly every argument about the merits and failings of the piece of copyright legislation has been made, it’s a good time to ask: what, in 2012, will it take to actually stop a bill like this?

Fed up with Bernanke

By Nicholas Wapshott
December 20, 2011

By Nicholas Wapshott
The views expressed are his own.

There is one thing every Republican candidate agrees on. Once in the White House, the first thing they’d do is fire Ben Bernanke. His crime is to follow the legal brief of the Federal Reserve to maximize jobs and keep prices stable. To this end he has been printing money to keep interest rates low to boost business confidence to invest and thereby create more American jobs. For many conservatives and libertarians, who dominate the early GOP caucuses and primaries, Bernanke’s cheap money policy has dangerously devalued the dollar’s worth.

If only Congress were less ambitious

November 22, 2011

By David Gordon and Sean West
The opinions expressed are their own.

There’s a good reason that only paid staffers and blood relatives seem to approve of Congress, as Senator John McCain recently quipped. But it is not the simple reason that Congress continues to fail, as witnessed in the implosion of the supercommittee. Rather it’s that Congress continuously promises unachievable historic fixes when it should instead be focused on slow progress.

The Democrats’ opportunity in the supercommittee’s failure

By Nicholas Wapshott
November 8, 2011

By Nicholas Wapshott
All opinions expressed are his own.

Thanksgiving, I don’t have to remind you, marks the settling of irreconcilable differences between the early settlers and the original Americans, the burying of the hatchet, as it were, between Christians and heathens. If only this Thanksgiving marked the same.

What happens after Obama’s jobs bill dies?

By Nicholas Wapshott
October 26, 2011

By Nicholas Wapshott
The opinions expressed are his own.

You can add to the list of hollow cries from history–such as “Ban the Bomb!” and “Bring the Troops Home!”–the president’s favorite refrain, “Pass the Jobs Bill Now!” Like the rest, Obama’s oft repeated demand is a sham, a mere slogan. Neither he nor his party, and certainly no Republican, believes Congress is going to pass even a small part of the bill, for it combines two elements his opponents detest the most: public works and higher taxes on the rich.

from Ian Bremmer:

Obama’s secret for new jobs

By Reuters Staff
September 7, 2011

Ian Bremmer sat down with Reuters' Paul Smalera to discuss President Obama's plans to boost the American economy. Watch here:

Pelosi or Boehner may still have to walk the plank

By Joshua Spivak
November 2, 2010

One of the ironies of America politics is that the House of Representatives, designed to be the “mob” of political power, is the top-down, well-run branch of government, and the Senate is the every man for himself body. Unlike the Majority Leader of the Senate, the Speaker has immense sway over the House and can, when necessary, bend it to her will.