Video: Is Obama Still on the Austerity train?

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James Crotty: Obama's budget is a "less savage" attack on social programs, but still assumes we are "living above our means"

to watch the 11-minute interview with James Crotty, March 4, 2012,, click on


Peter Barnes, "Economic SecurityBeyond Jobs," March 2012,

Let's pay dividends to everyone from our common wealth

demandside's picture
Jul. 31, 2007 4:01 pm


His job is to put the best face on what he can do as possible. It is up to us to scream and yell about the insanity. If we vote for a better Congress, we might see more fight from the White House, but at least we would have a better case to make for him not having to operate at the margins. The only grain of truth in the rants of the Right is that Obama did not come to the White House with a list of names and buried bodies he could use to whip the bastards into line. He was not Kucinich's alter ego or part of the Progressive Caucus either.

Would it matter much if he had proposed a budget dependent upon revenues he could not get? Imagine the screaming deficit hawks and threats of raised taxes. When that language has run out of political power, he can do more than he has. Point is only that we have to be the change we want and pave the road for the White House. Run a Progressive in 2016.

DRC's picture
Jul. 31, 2007 4:01 pm

Excerpts from the transcript: ".......the Obama government had to really implement some stimulus programs, which helped stop the collapse and kept us out of depression, I guess, but were neither large enough nor well-designed enough to really kickstart the economy, given how broken-down the economy's become since we entered the neoliberal era under President Reagan. So that's what caused the problems.

The people talk about nondiscretionary—nondefense discretionary spending as being a problem, but it's way less than it was as a percent of GDP than it was under Ronald Reagan. That's not the problem. Medical costs are a problem, but everyone understands the solution to those is some kind of European-style or Canadian-style health care system. If we switch to a Canadian-style health care system, we'd save $10 trillion over a decade and everyone would be delighted. The Social Security problem is a moderate problem but fixable.

So the whole idea that we live beyond our means, that the American public has been just sucking the Treasury dry and unwilling to pay for what it wants, is a narrative that's simply designed to confuse people and not let them know who their enemies are and who is operating against them and their children and grandchildren." - Prof. Emeritus James R. Crotty teaches in the Department of Economics at the University of Massachusetts, Amherst.

Scroll down to the link in the economics section.

Retired Monk - "Ideology is a disease"

Jul. 31, 2007 4:01 pm

We need to keep pointing this out so we can run and elect a Progressive in 2016. Letting the Tea Party win in '10 was not helpful.

DRC's picture
Jul. 31, 2007 4:01 pm

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