Robert Kuttner is co-founder and co-editor of The American Prospect magazine, as well as a Demos Distinguished Senior Fellow. He was a longtime columnist for BusinessWeek, and continues to write columns in the Boston Globe.
Submitted by Robert Kuttner on Mon, 05/20/2013 - 02:22
Austerity has failed in Europe, where the European Union just racked up 18 months of negative growth with no end in sight. It is failing in the United States, where this year's deficit reductions will cut the growth rate in half.
But austerity is succeeding as politics. The German government shows no signs of taking its heavy foot off Europe's oxygen hose, and President Obama seems determined to strike a 10-year deal with the Republicans that would equal 10 years of sequesters and then some.
Submitted by Robert Kuttner on Thu, 05/16/2013 - 12:31
To consider the life story of development economist turned moral philosopher Albert Hirschman is to appreciate that no other generation is likely to accumulate the experience of the European émigrés to America who came of age just before World War II, survived it, and went on to contribute to the political and scholarly foundations of postwar civilization. Of that generation, nobody did so with more range and grace than Hirschman.
Submitted by Robert Kuttner on Mon, 05/13/2013 - 02:36
Republicans in both Houses of Congress are becoming more and more flagrant in their strategy of holding the governing process hostage for far-right demands not shared by most voters. And the pity is that the strategy is mostly working.
The more that the Obama Administration tries to meet the Republicans half way, the more extreme and implacable their demands become.
Submitted by Robert Kuttner on Mon, 05/06/2013 - 14:01
The government’s April jobs report produced some happy headlines and a big stock market rally. The dismal March jobs tally was revised upwards from under 100,000 new jobs to a still feeble 138,000. In April, the economy created 165,000 jobs. The nominal unemployment rate dropped all the way from 7.9 percent to 7.5 percent.
But look a little deeper and you’ll appreciate just how crummy these numbers are.
Submitted by Robert Kuttner on Mon, 05/06/2013 - 02:26
The press strained to find some good news in the government's April employment report. Superficially, things appeared a little better. The official unemployment rate dropped to 7.5 percent, and the number of long-term unemployed people declined by about 258,000. The government revised upwards the number of new jobs created, to 138,000 in March, plus 165,000 in April.
Submitted by Robert Kuttner on Thu, 05/02/2013 - 11:50
Titanic Belfast / Flickr
Hillary Clinton is making all the early moves of someone preparing to run for president, though she has given herself plenty of time to rest, rejuvenate, and review a final decision. Now, however, President Obama’s ill-conceived plan to cut Social Security benefits via a “technical” change in the inflation index will force Clinton to make an awkward choice.
Submitted by Robert Kuttner on Mon, 04/29/2013 - 02:26
It's been a very bad week for the merchants of austerity.
In Europe, the just-released statistics on first quarter performance show EU nations sliding deeper into recession. In Spain and Greece, unemployment rates are approaching a staggering 30 percent. In Britain, the Tory government took as good news the fact that the UK managed to eke out 0.3 percent growth. Even Germany, the prime sponsor of these policies, is on the edge of recession.