LBO 128 out
LBO #128—just emailed to electronic subscribers, and on press for the print audience.
Contents:
•Austerity in the face of weakness
•Andy Stern, stocks, and Social Security
•the energy picture: how the U.S. stacks up (badly), and how we’re doing on renewables (badly)
• The Nation moves its money
• localism in Portland
If you don’t already subscribe, please do: LBO subscription info. Paid subscriptions help keep the free stuff (this, radio show) going.
The following exchange is from the blog Corrente:
[letsgetitdone:] Why are we talking about [cutting Social Security,] anyway? Because Obama appointed the Catfood Commission after Congress voted down the idea. Obama couldn’t take no for an answer. He kept the possibility of entitlement cuts on the table, when he could have left the Commission for dead.
[lambert:] So now the careeer “progressives” want our money and time for a battle we should never have to even fight in the first place, _because the President they support is making us fight it!_
http://www.correntewire.com/comment_day_37
Couldn’t a cut in Social Security ‘entitlements’ be considered a de facto bond default ?
Anyhow, I see the current Republican Party doctrines as taking the U.S. straight down the road to default.