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Archive for August 5th, 2012

Bill Clinton Becomes 2012 Touchstone

Posted in Main Blog (All Posts) on August 5th, 2012 11:08 pm by HL

Bill Clinton Becomes 2012 Touchstone
Eleanor Clift, The Daily Beast
Politicians come and go but Bill Clinton is forever, or so it seems with the former president slated for a starring role at the Democratic convention next month.His legacy is getting top billing in both the Obama and Romney campaigns. President Obama is running as the rightful heir to Clinton’s economic approach in the robust way that Al Gore should have but didn’t, and Romney is praising Clinton for being a “new Democrat” while saying Obama is stuck in the past with old-style liberalism.

Mitt Romney’s Taxing Math

Phelps Completes Career With Grace, Final Win
Pat Forde, Yahoo! Sports
In his right hand was a statue from FINA, the international governing body of swimming. It had been presented to him earlier Sunday night, after winning his 22nd and final Olympic medal "“ 18 of them gold, including the last one as part of the United States' 400-meter medley relay. The inscription on the trophy declared Phelps, “The Greatest Olympic Athlete of All Time.”In his left hand was an old, dingy orange foam kickboard. Its nickname: “Big O.” Phelps has had it forever, dating to when he was just a kid with raw talent and big dreams. 

Government Spending Can Create New Jobs
Mark Weisbrot, Denver Post
Three years after our worst recession since the Great Depression officially ended, the U.S. economy is still very weak.The people most hurt by this weakness are the unemployed and the poor, and of course the two problems are related. We have 23 million people who are unemployed, involuntarily working part-time, or given up looking for work — nearly 15 percent of the labor force. And poverty has reached 15.1 percent of the population — amazingly, a level that it was at in the mid-1960s.

Why Washington Accepts Mass Unemployment
Jonathan Chait, NY Mag
Good news! The economy added 163,000 jobs last month, just a bit over the level required to keep up with population growth. A return to a free fall now seems less likely. On the other hand, there is the small footnote that the return to full employment is nowhere in sight. The recovery looks safe for those of us who are not already screwed. That, sadly, has come to be the primary focus of our economic policy.In the years since the collapse of 2008, the existence of mass unemployment has stopped being something the economic powers that be even pretend to regard as a crisis.