Galbraith calls the catfood commission for what it is, deconstructs them, offers solutions to their existence, and offers solutions to our pressing needs. He also suggests Obama MIGHT not be evil. Do the read!

What it says.

One of the things that have always astounded the Dog is the number of myths or if you like your political commentary neat, lies that surround the Republican Brand. The idea that they are the only ones who can be effective in foreign policy, that they are the tough ones who make the hard choices, that they are the party of fiscal responsibility. These are all lies, damned-able lies.

“Originally posted at Squarestate.net”

It does not take much to find expose these lies, though it seems that most of the traditional media and the American public can’t be troubled to do so. The foreign policy trope is easily refuted by the facts that North Korea now is a nuclear power, that world is no longer willing to listen to us on issues of human rights and torture, that we are involved in two wars, one of which was preemptive and completely our choice.

In the same way that some of the lustiest cheerleaders for war declined the opportunity to serve themselves, some of those most loudly calling for eliminating deficits seem curiously unaware of the Pentagon.

For more on pruning back executive power see Pruning Shears.

The common thread in the three difs I’ve discussed in this part is that they’re all beliefs that counsel false economy and that, to the extent we follow them, lead to less national prosperity and wealth than we would otherwise enjoy. The sixth and seventh difs both lead to less economic activity and higher unemployment; and the fifth dif, in effect, counsels us to forgo opportunities to increase our national wealth through trading. The seventh dif, also, is like the first four in that it is another support for deficit hawkism, and a counsel against deficit spending, that is sorely needed in a time of slack demand and high unemployment. Taking all 7 of Mosler’s difs together, we see the outline of an ideology whose effect is to cripple American potential in both the immediate and the longer term. The 7 difs together constitute a 19th century economic ideology appropriate for a nation with a commodity monetary system, rather than a 21st century economic ideology appropriate for a nation with a fiat monetary system.

(Proudly cross-posted at C4O Democrats, and many thanks to Jane Hamsher and Chris Bowers at Open Left for confirming that I’m not crazy) ;-)

For everyone who thought I was some insane “boy crying wolf” yesterday, this should prove them wrong. Just as I warned and many folks “in the know” had previously reported, President Obama may be open to supporting the creation of an commission that could force some undemocratic, unfair, and unstimulative proposals including cuts to Social Security and Medicare.

However, President Obama still says on the White House web site that he opposes the very measures that supporters of this “fiscal responsibility commission” support, like raising the retirement age and any type of privatization effort. So what are we to believe? We need for the White House to clarify to us and to the entire nation what they intend to do on “entitlement reform”.

Please email the White House here or call them at 202-456-1111! And if you need any ideas on what to say, please let my comments inspire you.

US needs to increase spending out of income derived from increased investment that increases our economic productivity and reduces future government spending.

More evidence that public spending focused on infrastrucure is better.