Another take on the debt ceiling debate

02 Tuesday Aug 2011

Posted by Michael Bersin in Uncategorized

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Debt ceiling, missouri

If, as Michael Bersin suggests, you’re having trouble digesting the Satan sandwich, this might be worth considering.

3 thoughts on “Another take on the debt ceiling debate”

Michael Bersin said:

August 3, 2011 at 4:47 am

…when someone says or writes, “it’s not that bad” over cuts to social services and programs: are they in the bottom quintile in income? If not, they’re full of it.

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Michael Bersin said:

August 3, 2011 at 4:51 am

Who’s Helped and Who’s Harmed By Debt Deal?
….In short, it’s a rout of the lower and middle classes by the wealthiest Americans. Since the deal relies entirely on spending cuts with no revenues-don’t believe the White House spin that revenues are possible, because that would require Republicans to suddenly desire them-the wealthy escape any sacrifice since very few of them rely on the government services that will be cut.
Rather, as Brookings Institution senior fellow William G. Gale writes, “Low- and middle-class households have seen stagnating or declining earnings over the past few decades, and they have been hit hard in the Great Recession by the housing market collapse and the job market collapse. Now, they are being asked to shoulder-via spending reductions-all of the fiscal reduction agreed to so far.” (Yes, that Brookings Institution)….

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