Economy
Is it the Senate’s turn?
If ever there was a moment when women should take the lead without waiting to be asked by the men in leadership, this is it. My proposal for resolving the budget/debt ceiling impasse:
Arena Asks: Washington wakes up this morning to a scary possibility: could the government actually default? If Boehner is unable to rally votes, the balance of power could shift back toward the Senate. Has the postponed vote given Democrats the leverage they need to convince Boehner to take a new course? Is it the Senate’s turn for a crack at the debt ceiling debacle?
My Answer:It’s time for all the moms in Congress to get together, sit the men down, propose a choice of two solutions like we do with children, and tell them they aren’t going out to play again until an agreement is reached.
I’m serious…
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Does Obama need to watch his left flank?
I couldn’t resist answering this one. No wonder I don’t get my calls returned by the White House.
Arena Asks: Reporting long-simmering strains between President Barack Obama and his own liberal supporters. Progressives are upset about the White House’s verbal acceptance of a debt ceiling package tilted heavily toward spending cuts, along with this spring’s budget compromise, and the tax cut deal at the end of 2010. Do the president’s past supporters on the left have legitimate gripes? Will Obama face a primary challenge? Should he?
My Answer:Progressives have very legitimate gripes. But the way to vindicate them is to win decisively in House of Representatives races next year. Some stunning progressive victories over Tea Partiers would yield an emboldened Obama too. That’s the better use of progressive energy…
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Did President Obama make the case for a “fair” debt deal?
Arena Asks: President Barack Obama called on the American people Monday night to send the message to Congress that it must approve a “balanced” approach to resolving the stalemate over the debt ceiling and deficit.
Will the president’s latest plea for a “fair” compromise spur lawmakers to a deal? Are these public appearances helping the president’s cause?
Read MoreMy Answer: Personally, I’m sick and tired of Obama’s “balanced” approach. I think he must put forward a much stronger agenda to draw the debate closer to his position and engage people emotionally in his vision for the future if he wants to break the logjam…
Debt ceiling – looming catastrophe or Y2K redux?
You know the drill — Politico’s Arena asks, I answer. I’d like to know what you would have said, so please tell me in the comments section below.
Read MoreArena Asked: President Barack Obama, Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke warn of calamitous effects if the nation’s debt ceiling is not raised soon. But a few prominent Republicans, such as Minnesota Rep. Michele Bachmann, a presidential candidate, say nothing much would happen and blast the administration for its “scare tactics.”
Are Bachmann and co. naive about the consequences of default? Or do they have a point? Might this be the economic equivalent of Y2K, the turn-of-the-21 century computer scare that ended up causing minimal damage?
Will MN Democrat Gov. Dayton Stand Firm on Budget and Prevail?
Today’s provocative question from Politico’s Arena, and the answers given by Arena pundits, might hold some advice worth heeding for President Obama…what do you think?
Read MoreFor Afghan Women, “Finding Voice” Is a Revolutionary Act
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As Egypt continues to roil with change and I receive news daily about the UN Commission on the Status of Women 55th session that will convene in New York starting February 22, my No Excuses focus on women in the U.S. is shifting to global mode. And when my fabulous feminist journalist friend Lynn Harris told me about her work with the Afghan Women’s Writing Project, I immediately asked if I could share it with you. Please read her post below, let us know your thoughts, and if you’re moved to action you’ll find out how you can help.
The Girl’s Guide To The Economy: Elizabeth Warren Explains It All–Everything You Ever Wanted To Know About TARP And Were Very Afraid To Ask
With a big shout-out to Lucinda Marshall at Feminist Peace Network for allowing me to cross post, here are the answers to all your questions about TARP–sort of, as best they can be answered, and so forth. Be sure and read all three of Lucinda’s posts on this topic. (Then please e-mail me, gloria@gloriafeldt.com, and explain it to me.) Herewith, Lucinda, Elizabeth Warren, and Jon Stewart:
In Parts 11 and 12 of The Girls Guide To The Economy we have highlighted the work of Elizabeth Warren, chair of the Congressional Oversight Panel over the TARP. Below are Parts 1 and 2 of her interview with Jon Stewart on the Daily Show on Wednesday. Kudos to Stewart for having her on because clearly she is not getting the airtime she should be getting which will become totally clear to you when you view these videos. It is critical that what she is saying be heard. Listen, cross-post, send to your mother, your boss, your worst enemy and everyone else–let’s insist that the Obama administration and the media pay attention to Elizabeth Warren.
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Elizabeth Warren Pt. 1 | ||||
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And Now a Word from the Economy Herself
The economy is apparently a woman. Check out this intelligent parody from my friend Marcy Shaffer at Versus.
[youtube]http://www.youtube.com/watch?v=JfYdh-l01zI[/youtube]
… a parody of “I Will Survive” (Words and Music by Dino Fekaris and Freddie Perren).
Read MoreIs Obama’s Proposed Reduction in Charitable Deductions a Good Idea?
My grandmother often repeated the aphorism that charity begins at home. But those living in the White House and Congress just love to tweak tax policy to make charitable giving to causes beyond our doorsteps more complicated. This week President Obama’s 2010 budget plan proposes that allowable charitable tax deductions for those earning more than $250,000 per year be reduced by about 20%.
Since I led nonprofits for 30 years, I can tell you that any time the tax deduction for charitable contributions is decreased, contributions decrease. We’ve tried this before, in the Reagan administration, for example, just to be clear that it’s a bipartisan idea. Maybe that’s why Obama likes it.
At any rate, it was a bad idea then and it’s a bad idea now.
Reactions to taking away tax deductions vary by type of donor.
Read MoreIs a Good Enough Stimulus Good Enough?
Seems like the 787 billion dollar American Recovery and Reinvestment Act of 2009 stimulus package Congress has passed and sent to the President’s desk is just good enough. Though notable for its size, it doesn’t advance bold initiatives that could define Obama’s presidency, nor does it grapple with big, confounding issues like universal health care. It’s incremental rather than transformational. But it’s good enough to mind-shift us into a more optimistic view of the short term economy and to offer real help to many hurt by the downturn.
(If you want a quick look at how we’re going to spend 787 billion, see this chart. That sounds like “real money“, but it’s amazing how quickly it goes when you break it down–well, incrementally. For a more detailed summary, the Center for Law and Social Policy provides descriptions and tables with estimated state-by-state impacts of key provisions. Read that full report here.)
Though many economists say the package isn’t big enough, and feminists wonder whether it does enough to build the human infrastructure, Republicans are predictably squealing it’s too big and too diffuse. This despite all the effort Obama went to to engage and appease his Republican colleagues. I thought by now he would have learned the hooker principle (get paid first) and not have expended so much political capital trying to win over those who want only to create campaign issues with which to wrest back Congressional seats in 2010 and take the White House away from him in 2012. (Remember Newt and the Contract on America in 1994?)
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