What’s Different About Today’s Government Deficit and Debt?
As of today, the U.S. government’s current deficit and debt are indeed currently at unprecedented levels for peacetime—once we account for them appropriately.
Bill Black Is Everywhere: We just posted the feature article by Bill Black (aka William K. Black, professor of economics and law at the University of Missouri at Kansas City), from our January/February issue, Still Banking on Fraud. It's a great read, though depressing. Here's what one subscriber wrote in to say:
There has been no better article on economics than the one you featured written by William K. Black. There isn't a prize in the established world that could do it justice. The man writes forcefully, with a keen ear for telling phrases "theoclassical," "control fraud," ) and an absolutely deep, detective's level of knowledge about our economic-political supersystem. Thanks for such a stunning article in a grand issue.
Martin White, Salem N.Y.
Bill also had a nice piece on Huffington Post, The Anti-Regulators are the "Job-Killers". (Though you may have heard that in the post-Tucson era of "civility," the phrase "job-killer" is apparently verboten--John Boehner is apparently now speaking of "job-destroying" spending instead, according to the New York Times. So it is still ok to engage in class warfare--whoops! class struggle--but you just can't use violent language. What an improvement!)
And Bill said he was interviewed for NPR's Morning Edition, but I can't find it on their site. Be vigilant tomorrow morning...
--Chris Sturr
P.S. Hat-tip to Larry Peterson for today's image.