Possible exciting news today, World Leaders at the more developed country summit at Camp David showed support for President Obama's call for a mixed approach to solving Europe's financial problems.
NY Times:
World Leaders at U.S. Meeting Urge Growth, Not Austerity
By HELENE COOPER
Published: May 19, 2012 Comment
CAMP DAVID, Md. — Leaders of the world’s richest countries banded together on Saturday to press Germany to back more pro-growth policies to halt the deepening debt crisis in Europe, as President Obama for the first time gained widespread support for his argument that Europe, and the United States by extension, cannot afford Chancellor Angela Merkel’s one-size-fits-all approach emphasizing austerity.
Its clear the Republican strategy in the US has been to pin US economic problems on the President. This, after three years plus of stonewalling and just saying no to every attempt to stimulate growth. Liars.
With millions unemployed in one can see where they might get some traction, especially given the msm's lack of reporting on this fail.
NYTimes writer offered some interesting domestic political context re rich country leaders following The President's suggestions for Europe :
With his own re-election bid tied to a fragile American economic recovery that could easily reverse if Europe’s economy takes another turn for the worse, Mr. Obama was pushing hard on Saturday for a euro-zone growth package. American officials said they hoped that after the full-court press this weekend at Camp David, Ms. Merkel would be more amenable to the pro-growth argument when she meets with European leaders this week at a summit meeting to come up with specific steps to fight rising debt while spurring the economy.
Critics say the President should do more here in the US in terms of pushing growth, and less on austerity.
Last December the President took a major positive step in that direction.
Campaign for America's Future:
For 2012 Let's Restore Our "Industrial Commons"Dave Johnson's pictureBy Dave JohnsonDecember 21, 2011 - 3:39pm ET
Last week President Obama appointed Commerce Secretary John Bryson and National Economic Council Director Gene Sperling to co-chair a new White House Office of Manufacturing Policy. The new Office of Manufacturing Policy will have cabinet-level status, reflecting the importance of the manufacturing sector to our economy. It will coordinate the efforts of different government agencies, such as the Small Business Administration, the Department of Commerce and the Transportation Department.
This is a positive step if there ever was one. Let's resolve to develop and execute a national manufacturing strategy. (please click through)
It is time to restore our national "industrial commons" .
Remember back in Bill Clinton's campaign "Its the economy, stupid" ?
The President and other Democrat Leaders are under intense pressure by the oligarchs who control the msm, thinks tanks, and now Super Pacs to go all austerity, all the time.
This week saw another meeting of leaders:
Bill Clinton, Boehner, And Some Other Rich White Guys Had A "Summit" And Agreed: It's Your Fault
Any questions? Let's hope not, because they're all busy men and it's great golfing weather this week in DC.
May 16, 2012 |
This week a bunch of rich white guys held a "Fiscal Summit" and agreed that:
1. Despite the fact that unemployment is causing untold suffering for millions of people, it's not very important.
2. Despite the fact that wage stagnation is destroying the middle class, that's not important either.
3. Despite the fact that we need the social safety net more than ever after what they've done to the economy, it's expendable.
4. Despite the fact that our government can borrow money at record low rates and use it to put people to work, thereby ending the recession and jumpstarting the economy, that option's not even worth discussing.
5. Despite the fact that these men all possess great power, wealth, and/or influence, everything that's wrong with the economy is your fault.
6. Since it's all your fault, you better get ready to pay up.
Oh, and one other thing:
7. They're all very smart and very brave. It's too bad the rest of you people are such jerks.
Any questions? Let's hope not, because they're all busy men and it's great golfing weather this week in DC.
Growth, Austerity At Home
Some continue to express worry about the direction the Democratic Party is heading vis a vis austerity. digby:
Wednesday, May 16, 2012
Runaway train on entitlement cuts?
by digby
I think it's going to happen this time
snip
Look, Obamacare cut hundreds of millions from Medicare already (which the GOP also used as a bludgeon against the Democrats in 2010.) The whole point of that Rube Goldberg mess, including the mandate, was to create incentives to lower health care costs over time. The people who are screaming about deficits want to repeal Obamacare which will add to health care costs and raise the deficit. And Social Security is not part of the budget so these people have no business lumping it in with everything else. If they want to "shore up" Social Security, it's a separate issue and could be easily dealt with by making millionaires pay more into the system. If they insist on paying down the deficit in the middle of a depression in which all projections are predicated on the present disaster, they should look to the Pentagon where they are building weapons systems that don't work to the tune of hundreds of billions of dollars. Those we know we aren't going to need.
snip
This has the feeling of a runaway train to me.The Republicans have worn them down and they just want to get past the election. Sure, they may get some little token of a tax hike on the wealthy in return. But it will be nothing to the sacrifices that average Americans will have to make. Indeed, this whole formulation is fundamentally immoral --- tax hikes on millionaires in exchange for poor, sick old people having to do with less than their already meager guarantee is disgusting. Couldn't we at least agree to fuck over the sick, old people only as a last resort?
(Maybe we could cut the kids a break too --- at least until the economy can provide them more than a subsistence living.)
Liked today that the President's Saturday address called out Wall Street and called for more reform. Also celebrate this win with World Leaders in pushing for growth.
Congratulations, Mr. President.
We should also continue to push the campaign to emphasize growth over austerity here at home as well.
I'm bullish on ideas for growth, jobs, and improvements in the safety net.
(TX Hill Country Outside Austin, Spring, 2012)
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And there are reliable segments of voters who feel the same way.
Like digby, I think any cuts should come out of the pockets of the war profiteers.