Back in September, "10 Lessons for Tea Baggers" documented a set of inescapable truths which the frothing-at-the-mouth followers of the Tea Party movement nevertheless manage to deny. Number one on that list then and now is "President Obama cut your taxes." As Steve Benen related today, the Tea Baggers themselves and their ideological water carriers […]

Still smarting after his budgetary beat down at the hands of President Obama Friday, Texas Congressman Jeb Hensarling this weekend invited a second round of punishment. "I stand by what I said," Hensarling said Saturday, referring to his manifestly ridiculous claim the previous day that "the old annual deficits under Republicans have now become the […]

Shaking his head at the bad economics and worse politics of the White House's proposed spending freeze, Paul Krugman deemed President Obama not a deficit hawk, but a "deficit peacock." "You can identify deficit peacocks," he wrote, "by the way they pretend that our budget problems can be solved with gimmicks like a temporary freeze […]

Just one week after the media chattering classes announced that Republican Scott Brown's upset win in Massachusetts represented a political sea change, voters in Oregon sent an unmistakable message of their own. And to be sure, they signaled an important win for Democrats and their progressive allies. Rather than gut school funding and other essential […]

As President Obama prepares for his State of the Union address, two stories Monday regarding his stimulus package highlighted his political conundrum. USA Today's quarterly survey of 50 economists produced a median estimate that the $787 billion American Recovery and Reinvestment Act (ARRA) prevented unemployment from reaching 10.8%, saving 1.2 million jobs as a result. […]

In its December 30 article "Rich Cling to Life to Beat Tax Man," the Wall Street Journal reminded the wealthiest of its readers that 2010 will be an excellent year to die. The estate tax, which in 2009 impacted only 1 in 500 estates while generating tens of billion in revenue, temporarily expired on New […]

Republicans win, even when they lose. That appears to be the conventional wisdom after the Democrats' crucial victory in the Senate health care vote this weekend. In its wake, media outlets gave credence to John McCain's assertion that thanks to President Obama, Washington is "more partisan" and "more bitterly divided than it's been." That followed […]

Last week, Politico ran yet another fawning profile of John McCain, declaring him "critic-in-chief." But whether the ersatz Maverick's motivation runs the gamut from "unresolved anger to concern for his right flank as he seeks re-election to genuine dismay about Obama's agenda," McCain has been at or near the center of almost every domestic political […]

For a handful of the very richest Americans, 2010 will be an excellent year to die. Thanks to Republican obstructionism on their behalf, the estate tax, which in 2009 will impact only 1 in 500 estates while generating tens of billion in revenue, will temporarily expire after December 31. Adding insult to injury, while the […]

In October 2008, former Federal Reserve Chairman Alan Greenspan famously admitted during testimony before Congress that he was wrong about regulation of the U.S. financial system. Asked by Henry Waxman (D-CA) if "your ideology was not right, it was not working?" a humbled Greenspan lamented: "I made a mistake in presuming that the self-interests of […]