Budget

Financial Magic Thinking Dies Hard

Since the early supply-side days of Ronald Reagan, the Right has pretended that slashing taxes on the rich will generate extra revenue, thus more than paying for itself. The reality has turned out differently, but Michael Winship says that hasn’t changed the determination to bend reality to politics.

Selling the ‘Supply-Side’ Myth

Exclusive: Any rational assessment of America’s economic troubles would identify Ronald Reagan’s reckless “supply-side” economics as a chief culprit, but that hasn’t stopped Republican presidential hopefuls, led by Newt Gingrich, from selling this discredited theory to a gullible GOP base, reports Robert Parry.

The Ever-Revolving Revolving Door

The Wall Street banks may have crawled back from the cliff of 2008 – and may have trimmed their bonuses a bit as they adjust to a more austere America – but they still get to place ex-employees in key government jobs, close to the ear of power, as Bill Moyers and Michael Winship note.

The Fiscally Reckless Mitch Daniels

Exclusive: Delivering the GOP rebuttal to President Obama’s State of the Union, Indiana Gov. Mitch Daniels is hailed as a “fiscal conservative,” but his actual record as George W. Bush’s budget director was one of fiscal recklessness, taking America from surpluses to massive deficits, as Robert Parry reports.

Paying the Costs of War

Neocons and their political allies are often called “chicken hawks” because few have fought in the wars that they’ve advocated, which means America’s chief war proponents have very little concept of the short- and long-term consequences for soldiers, what ex-CIA official Paul R. Pillar describes.

Republican Tradition of Hostage-Taking

Special Report: Since the days of Richard Nixon, Republicans have pursued an anything-goes brand of politics that often has the look of hostage-taking, with Democrats usually caving in. But, Robert Parry asks, has President Obama finally learned that the only way to stop bullying is to stand up to it?

When Guns Defeat Butter

History is filled with cautionary tales about militarily powerful empires that collapsed because they spent far too much on guns over butter. The United States is now tempting a similar fate behind a ruling elite that uses fear and propaganda to maintain control, as Gary G. Kohls notes.

Assessing Obama’s ‘Peace’ Moves

Exclusive: American neocons are accusing President Barack Obama of “losing” Iraq with his final troop withdrawal – and some anti-war activists are encouraged by his possible strategy shift away from combat in Afghanistan. So, is there a sea change underway in the course of the U.S. ship of state, asks Robert Parry.

Toward a New National Security Policy

During the Cold War, the U.S. avoided large permanent bases in the Islamic world so as not to enflame anti-Western passions. But that changed with the Persian Gulf War, endangering rather than protecting the interests of the American people — and highlighting why a new national security policy is needed, writes Gareth Porter.

Reagan’s ‘Greed Is Good’ Folly

Exclusive: For three decades, the United States has undertaken an extraordinary social experiment, incentivizing greed among the richest Americans by cutting their top tax rates in half or more. The results are now in from Ronald Reagan’s bold gamble and Robert Parry says they aren’t good.