No account of how the United States ended up at the brink of the $1.2 trillion, ten-year budget sequester is complete without these two phrases: "debt ceiling hostage-taking" and "Super Committee." Nevertheless, in his grandstanding campaign to lay blame for the automatic spending cuts at President Obama's feet, Watergate journalist turned deficit hawk Bob Woodward […]

Last month, an analysis by Berkeley Professor Emmanuel Saez revealed that the top 1 percent of American earners captured all the income gains during the first two years of the current economic recovery while the other 99 percent lost ground. Now, a new analysis by Congressional Research Service analyst Thomas Hungerford is just the latest […]

As the federal government nears the March 1st deadline to avoid the $1.2 trillion, ten year budget sequester, the media are breathlessly playing the blame game. While House Speaker John Boehner continued to decry "the Obama sequester" in a Wall Street Journal op-ed titled "the President is raging against a budget crisis he created," John […]

Six days after Abraham Lincoln's 204th birthday, the Great Emancipator is very much in the news on this President's Day. Pundits, polls and politicians of both parties are once again recognizing America's 16th president as its greatest. Inspired by the Oscar-nominated film, a Mississippi physician prompted his state to formally and finally ratify the 13th […]

Barring a last minute miracle compromise, on March 1 the first year of the $1.2 trillion, decade-long budget sequester will begin. With few exceptions, that's a development neither party wants to come to pass. For Democrats, the sequester doesn't just mean the potential loss of 750,000 jobs in 2013 alone, but slashing non-defense discretionary spending […]

Back in 2009, the American media offered a series of stories on the recession's impact on the tragically rich. The New York Times, CBS News, AP and even PBS toured yachts, vineyards and beach resorts (even profiling soon-to-be fugitive millionaire John McAfee) to warn that the super-rich "are not sleeping any better than the rest […]

As things now stand, Senate Republicans will carry through on their threat to filibuster Chuck Hagel, President Obama's nominee for Secretary of Defense. As the GOP's number two man John Cornyn declared Wednesday, "There is a 60-vote threshold for every nomination." Two votes short of the needed filibuster-breaking tally, Senate Majority Leader Harry Reid called […]

While most eyes were trained on the State of the Union address (or a burning cabin in California), PBS on Tuesday aired a documentary on the ongoing fiscal deadlock in Washington titled, "Cliffhanger." In it, the House Speaker John Boehner is portrayed as hopelessly trapped between an equivocating and untrustworthy President Obama who "poisoned the […]

With Barack Obama's 2013 State of the Union address just hours away, the media conventional wisdom machine is already busy warning about an "aggressive" and "partisan" speech from the reelected President. Despite four years of unprecedented Republican obstructionism, Politico alerted readers to beware a speech that is "less a presidential olive branch than a congressional […]