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Leverage

By James Kwak One of Congress’s top priorities this week and next is to pass some kind of funding bill that will keep the federal government operating past December 11. There are basically two ways this could happen. Option A is that Congress could pass a continuing resolution that maintains funding at current levels until, say, the end of January—that is, when we’ll have a new Congress and a new administration. Option B is to pass an omnibus fiscal year 2021 spending bill that...

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Leverage

By James Kwak One of Congress’s top priorities this week and next is to pass some kind of funding bill that will keep the federal government operating past December 11. There are basically two ways this could happen. Option A is that Congress could pass a continuing resolution that maintains funding at current levels until, say, the end of January—that is, when we’ll have a new Congress and a new administration. Option B is to pass an omnibus fiscal year 2021 spending bill that...

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Take Back Our Party, Chapter 4: Our Democratic Party

By James Kwak Ever since I finished Economism (and the 2016 elections, which happened about the same time), there has only been one thing I have wanted to write. I tried in “The Importance of Fairness: A New Economic Vision for the Democratic Party,” and in “A New Economic Vision, in 27 Words,” and again in “Hey Democrats, the Problem Isn’t Jobs and Growth.” I wanted to write this thing because it has become clear to me not only that our economic world is screwed up in all sorts of...

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The Crisis of the Democratic Establishment

By James Kwak The Democratic Party is at a crossroads. On a host of issues, it is clear what we stand for and how we differ from the Republicans: minority rights, abortion, immigration, gun control, climate change, the importance of facts, and, of course, whether or not the president is above the law. On economic issues, however, the picture is not so clear. Elizabeth Warren’s speech at St. Anselm’s College on Thursday is an attempt to fix that problem—and also a shot across the bow of...

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Prophetic Words from the Clintonian ’90s — Detroit Dan

Richard Rorty on how what passes for the "left" in American politics, the Democratic Party, was losing the plot.  Here is another quote from Rorty:  My sense of the holy is bound up with the hope that some day my remote descendants will live in a global civilization in which love is pretty much the only law. Richard Rortyquoted by Jürgen Habermas, in "Philosopher, poet and friend," Sound and Sight (12/06/2007) MindorenyoProphetic Words from the Clintonian '90sDetroit Dan

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Is Russian ‘Meddling’ an Attack on America? — Paul Jay interviews Stephen Cohen

“The claim that Russia attacked America during the 2016 presidential election is both exceedingly dangerous and a complete falsehood,” says Stephen Cohen on Reality Asserts Itself with Paul Jay…TRNNIs Russian ‘Meddling’ an Attack on America?Paul Jay interviews Stephen CohenSee alsoThe arrest of Julian Assange was an act of revenge by the US government that strikes at the heart of journalism….Asia TimesYou have the right to always remain silentPepe Escobar A recently declassified CIA document...

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Jeffrey Bartash — And now for something different: Democrats call for balanced-budget amendment

A bevy of lawmakers in Congress alarmed by soaring deficits are calling yet again for a constitutional amendment to balance the federal budget — but this time it’s Democrats. The so-called Blue Dog Coalition of moderate Democrats on Tuesday endorsed an amendment that would require Washington to balance the budget except in case of war or recession.... Are they for the return of the gold standard, too?Market WatchAnd now for something different: Democrats call for balanced-budget...

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Jack Fitzpatrick — MMT Makes Democrats Curious Amid Debate on Health Care, Climate

Modern Monetary Theory, or MMT, is almost never mentioned specifically by members of Congress who negotiate budget and appropriations measures, but it is working its way into the mainstream political debate. Now, it’s gotten some Democratic lawmakers’ attention as the party considers big-ticket policy priorities. That includes House Budget Chairman John Yarmuth (D-Ky.), who will decide over the next few weeks whether to produce a fiscal 2020 budget resolution that maps out the caucus’s...

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Benjamin Studebaker — Why Bernie Sanders Matters More Than People Think

The Democratic Party is experiencing a Tea Party-like moment that the GOP went through subsequent to the G. W. Bush administration fiasco, an improbable consequence of which was the election of Donald Trump as a "populist" candidate, surprising the pundits, sparking a soft coup attempt, and challenging the GOP establishment. This dynamic is still in play. Now the Democratic Party establishment aka "corporate Democrats." "Clinton Democrats." and "Third Way Democrats" is being similarly...

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