90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
Austerity vs. Stimulus

With David Cameron, British Prime Minister in the States this week, we’ll compare how the U.S. and U.K. have tackled economic crisis. Austerity versus stimulus.

President Barack Obama listens as British Prime Minister David Cameron speaks during an arrival ceremony on the South Lawn of the White House in Washington Wednesday, March 14, 2012. (AP)

President Barack Obama listens as British Prime Minister David Cameron speaks during an arrival ceremony on the South Lawn of the White House in Washington Wednesday, March 14, 2012. (AP)

Economic crisis came.  Everybody scrambled.  In the U.S. we had big stimulus, auto bail-out, payroll tax cut, the Fed pumping money.  In Europe, especially the United Kingdom, there was a stimulus – then austerity.  Prime Minister David Cameron came in swinging a big austerity message.  Cut, cut, cut to grow, he said.  President Obama went the other way.  Now Cameron’s in the U.S.  How’s that all working out?

This hour, On Point:  the U.K., the U.S. and austerity versus stimulus.  What’s worked?

Plus we’ll look at this week’s amazing, public dressing down of Goldman Sachs.

-Tom Ashbrook

Guests

Ken Rogoff, professor of public policy and economics at Harvard University.

Richard Jackman, a professor of economics at the London School of Economics.

C-Segment: Goldman Sachs

William Cohan, a columnist for Bloomberg View, and author of Money and Power: How Goldman Sachs Came to Rule the World. His recent article on Goldman Scahs is here.

You can find the explosive New York Times Op-Ed, written by  former Goldman Sachs senior executive Greg Smith here.

From Tom’s Reading List

The New York Times “What Greek experience actually shows is that while running deficits in good times can get you in trouble — which is indeed the story for Greece, although not for Spain — trying to eliminate deficits once you’re already in trouble is a recipe for depression. ”

The Guardian “In the US and across Europe, academic economists and policymakers are dividing as the improving American economy – unemployment is falling – suggests that the Obama administration’s policy of trying to delay cuts is preferable to the brutal shrinking of the state being pursued on the other side of the Atlantic, where more and more people losing their jobs.”

The Economist “The deputy prime minister is by instinct a free-market liberal on the flinty, centre-right edge of his party. He is not a great fan of statist or bureaucratic solutions to society’s woes. He is no swooning admirer of trade unions, and is sincerely concerned about the need for public sector reforms and the desperate urgency of making Britain more competitive internationally.”

 

Excerpt: Money and Power

[Use the navigation bar at the bottom of this frame to reformat the excerpt to best suit your reading experience.]

http://www.scribd.com/doc/85483313/Money-and-Power-Excerpt

Please follow our community rules when engaging in comment discussion on this site.
  • Michiganjf

    Austerity vs. stimulus, eh?

    Can you also throw in boneheaded, mindless Republican obstructionism?

    It’d be nice to know the absurd, additional hurdles with which President Obama has had to contend don’t get short shrift in this discussion.

    Considering Bush and the Fed already had the fed rate at ZERO before President Obama was even elected… and considering Bush had already tired America of the term “bailout…” and considering Bush had already alarmed everyone with massive deficit spending… considering all these things with which left President Obama with stimulus and not much else to save a sinking America, the stimulus has done remarkably well for the economy.

    … and even at that, President Obama has managed to reduce the deficit from the 1.9trillion of the last year of a Bush budget (2008-2009), all the way down to 1.22 trillion (2010-2011).
    Every year Obama remains in office, the deficit has and is expected to continue to get reduced.

    http://home.adelphi.edu/sbloch/deficits.html

    Republicans hate (and so ignore) the fact that President Obama has reduced, every year, the rate of increase in the national debt from where Bush left it.

    Compare apples to oranges if you must, but at least provide a good description of the greatly varying growing conditions for both.

  • U.S. Veet.

    According to the U.S. national debt clock, America’s debt is more than $15 trillion dollars, in addition to $118 trillion dollars worth of unfunded liabilities.

    The austerity versus stimulus argument is now a meaningless debate,

    since the U.S. federal goverment is well on the way to Weimar Germany hyper-inflation and eventual insolvency.

  • Yar

    Chew on the concept that there is no such thing as national debt, at least not in economic terms.  We are what we produce, our deficit is not numbers in  a computer, it is when we fail to educate or provide health services to our workforce.  Numbers on a page in a bank log by get you kicked out of the home you live in, but failure to prepare the next generation for meaningful work leads to revolution.  Money is the measurment system of trading work over time.  The crooks on Wall Street have their hands in the till, that is why the scales won’t balance.  Don’t worry about the numbers, worry about the level of exploitation around the world.  That is the source of our debt.

  • Anonymous

    Hmmm where would I rather be starting a business today… Greece, Spain or the United States of America?

    Does anyone ever go back and look at the history of our debt? It spiked as a % of GDP with World War II. But back then, our recovery was built upon a vast and vital industrial infrastructure. We didn’t have tax and tariff policies that encouraged offshoring of our industrial base. Back then such thoughts would not have been termed un-American, they would have been called treason. We didn’t have a ‘free trade’ initiative with which we were the only ones playing by the rules. We didn’t have trade relations with a communist country with no respect for IP that has systematically subsidized the life out of US manufacturing.

    If we’re going to claw our way out from under this debt, we’d better do it with tax and tariff policies that keep work and profits here. All the Republican garbage about tax policies is not about jobs, it’s about wealth at the top. Until corporations start sharing success with the people who actually do the work: those who create the IP, those who produce something other than quarterly reorg charts and merger plans, then it’s demoralizing for US workers. Trickle down economics is rubbish. The country has been filthy with capital throughout this recession. What the country is short on is workers with expendable income. Until corporations wake up to the vital economic fact that their workers are their consumers and need to feed them better, we’re not going anywhere real fast. Henry Ford got it, but back then he was a real industrialist, not a vulture capitalist.

  • Modavations

    If we’re going to claw our way out,we better cut 5% per annum until unemployment hits 5%..This won’t happen because the left depends on giving the handout in exchange for the vote.The Cameron-Obama cocktail hour must be a hoot.Cameron saying cut,Obama saying spend.

    • Isaac, in Groton CT

      What would cutting 5% have to do with 5% unemployment? That’s an arbitrary measure to an arbitrary benchmark.

    • Anonymous

      Slow down and get coherent. Cutting 5% without growth to compensate will shrink the economy… just look at Europe. Funny, the number of federal employees under this Prez has shrunk. How about cutting those corporate handouts. I wish I was incorporated and owned me a few senators and congress persons to write me deductions so that my tax bill was ZERO just like many of our Fortunate 500′s!

      • Modavations

        Everthing is invective.When you swear and call names you’re showing the doubt you harbor in the back of your mind.Freudian!!!”Slow down get coherent”…..When you learn civility I’ll pay you some mind.The cut will spur the activity.Seriously,read JFK’s economic speeches.They are quite coherent.

        • Terry Tree Tree

          Delusions again? STILL?  WHERE in MadMark’s comment you replied to, did he swear? 
             You had WAY too much ‘chemicals’?

      • TFRX

        I’m waiting for someone in our mainstream media to celebrate “Tax freedom day” for many of our Fortune 500 corporations.

        As we are 20% through the calendar year, in many cases that will require a time machine.

  • Modavations

    When we have unemployment at 5% we have tax receipts up the wazoo.Unfortuneatly we’re so buried ,we can’t get out.I’d be amazed if we can pull ourselves out.I predict minor civil breakdown,closing of banks and the stiffing of creditors.

    • Isaac, in Groton CT

      So buried by what?

      • Modavations

        Debt.As in 457billion in interest per annum.The Defense budget is 605 Billion per annum.Medicaid-Medicare is about 600 billion a year.Pay attention.You spend your day looking for ideological fights.Mental masturbation

        • Isaac, in Groton CT

          I spend my day looking for things to fix. Your post appeared on my list. So what you meant to write was: “When we have unemployment at 5%, we have tax receipts up the wazoo. Unfortunately we’re so buried by debt that we can’t get out. I’d be amazed if we could pull ourselves out. I predict a minor civil breakdown, the closing of banks and the stiffing of creditors.”

          And I disagree. There are straightforward solutions that merely require long-term discipline. We’re capable of getting out, but nobody likes what it would take to. Over the course of the next few decades, we ought to curb spending (relative to our population), and increase taxes.

          In the short term, now that the economy is beginning to rebound, it’s probably possible for us to begin to gradually, and in proportion to our recovery, draw back tax cuts and spending. Maintain the counter-cyclical fiscal policies that responsible governments maintain.

          • Modavations

            Bull.Mental masturbatuion and therapy is your game

          • Isaac, in Groton CT

            That was cute. You pretended like I said nothing at all. Way to go, champ.

          • nj_v2

            Reasoned exchange with the Modatroll is pointless. He babbles the same nonsense over and over on different days, thinking it’s so clever that it bears repeating almost daily so people will be impressed with his wit and insight.

            Refute any of it with referenced, factual information, and he either calls you a name, ignores it, or mumbles, “I stand by my figures.” with no documentation.

            There’s no one home there except a delusional sociopath.

          • Terry Tree Tree

            Fixing Moda, evidently will take more than ‘all the king’s horses and all the king’s men’, as he has a long past that he told us about, with lead, mercury, self-administered ‘chemicals’, and LOTS more!
               Can you fix him, Doc?

    • Brandstad

      Did you like the bank stress tests that came out this week.  If you look into how they were conducted, you can see a sub plot.  First ask yourself what assets banks can invest in to hold assets that make them money , and not just cash in a vault?

      There was only one asset class that the bank stress tests didn’t assume would drop massively.  By doing this, the government made the banks buy the asset class that their assumptions didn’t drop and guess what that was!?!?! Government bonds!  

      This explains why the federal government has been able to sell bonds with little return and great risk for the last 6 months! 

  • Modavations

    This year alone we will pay 457billion in interest.We could save NASA a zillion times over.We could save the Post Office a kazillion times over.The wars cost 70ish billion a year.Watch the price of bullion.When it gets to 2200per ounce,it’s rime to lay in water,penicillin,can goods

    • Terry Tree Tree

      Moda’s facts are as good as his figures?  Zillion?  Kazillion?  A $Billion per day x 365 days=70ish $Billion?

  • Modavations

    The Democrats can’t afford any austerity.They buy their votes.The Republicans buy votes by letting the peeps keep more of their own money.

  • Modavations

    If the Bush tax cuts are rescinded I pay 10% more.That’s okay if every penny goes to reducing the debt.36% of the tax cut went to the poor,6% to the wealthy and the rest to the middle class.This year alone the interest we pay on debt is 457 billion.Medicare-Medicaid is about 600billion a year.

    • Anonymous

      I will pay more too!
      And why are we still cutting taxes on the terminally wealthy… they are not in pain are they? Their wealth has only increased phenomenally in this ‘recovery’ and most of that tax-cut-freed capital gets invested overseas so how does that stimulate the USofA?
      This is class warfare.

      Ever been to Jamaica or a 3rd world country? Ever wonder what would happen to America if the average US Joe was paid as poorly as 3rd World Joe? All that opportunity and personal success that so many people in the middle and upper class pride themselves on would vanish. Capitalism is an economic systems and the greater the disparity, the more poorly it works. I am no marxist or communist, but there is a balance, and the pendulum in America has swung too far to the C-level. I’m not talking about welfare: I’m talking about the wealthy and corporations contributing to rebuilding our infrastructure from which they have benefited so greatly. The system which facilitates and protects their empires.

      • Modavations

        It yields 70 billion a year.I used to hang in Grandihole jct.Jamaica.I’m a surfer.I’ve been everywhere.i speak all languages.Every American Ghetto is a third world country

      • TFRX

        “Terminally wealthy”?

        Love it!

  • SteveV

    And let’s not ignore the price of oil in all this. Our economy is based on this commodity in the form of gas and plastics. For the economy to “improve” we will need more of it, hence the price will increase, hurting the economy. There are probably no solutions to this problem since oil is a finite resource. People complain now about the price of gas, yet are paying 1/2 the cost of Europe. Who knows. We may even elect the next president on this one issue.

    • Modavations

      Look at yesterdays post.I cited the price of gas in Antwerp and Bologna.My cuz gets free medical,but pays 53% income tax and as of April 1,…23% IVA

  • Modavations

    We were supposed to get the tax holiday for 1 year.It’s now into the second year.The tax holiday is funded by the money that is supposed to go to fund social security.When you open the S.Sec.lock box, instead of  a 2.5 trillion dollar surplus,there are moths.

  • Modavations

    There goes Blogovich.That’s the second Ill.governor in a row to head to jail.The last three Speakers of the House in Ma.are in prison,or disbarred.The utter corruption is half the problem.We have a weekly story of our social welfare programs being plundered(the program heads embezzle with impunity).Term Limits would be a good start.I think it’s too,too late

    • Anonymous

      And then there’s Scott Walker and his war on Teachers and Unions. Corruption is rampant. Welcome to the Incorporated States of America.

      • Modavations

        There are two types in this world.Those who bow at the alter of Big Govt(all animals are equal ,but some more so)and those who trust the individual.

        • Sean

          There are two types of people in this world: smart people and stupid people. Based on your comments here, I don’t think anyone would have much trouble discerning which one you are.

          • TFRX

            I always thought there were four kinds of people:

            Those who know they know.
            Those who don’t know that they know.
            Those who know they don’t know.
            And those who don’t know that they don’t know.

            (Let the discernment begin.)

        • Joshua Hendrickson

          That’s false, but let’s examine it on its merits:  Big Government is composed of individuals, and individuals are not by nature trustworthy.  Absolute anarchy and absolute authoritarianism are both awful choices, and not, in spite of what you think, the choices presented us here.

        • Terry Tree Tree

          You trust Blagoiavich?  Bernie Madeoff?  Or are you just Modirehhea?

  • Patrik

    Shouldn’t both Austerity and Stimulus methods be employed in various,  seclective economical ways?  From what I have read and heard it seems to be either A OR B.

    • Modavations

      How many times did Reagan fall for that one.I’ll raise taxes and you give me the spending cuts.The cuts never happened.I accede to  raising  my taxes for the public good(I don’t believe in that,I’m an “Invisible Hand” type),but put every cent into reducing the debt.Soon to be 17 trillion.Debt(deficit) to GDP should be 3%,…It’s now 10% and heading up.What happens in the ghetto if the check stops.
                 Short shift, I’m gonna go flog some product and produce some tax revenue for the Maw of Big Govt..Also,the psychos are about to “clock in”.So many disturbed,angry folk ’round here.Friggin therapy sessions

      • John

        You’re not just an “invisible hand type;” you also appear, based on how illogical, emotional, and incoherent your comments here are, to be an invisible brain type. 

        • Modavations

          Little boys who can’t intellectualize,who have gnawing doubt in the back of their minds spout innanity.I’ve giving you nuggets galore to digest and you spout piffle

          • Isaac, in Groton CT

            Cryptic drivel.

          • Modavations

            stop masturbating,make a point

          • Isaac, in Groton CT

            I have, and then you gave me more cryptic drivel. Seems like masturbation is the worthier use of time, O Edgy One.

          • nj_v2

            Oxymoron of the Day: Modavations 
            intellectualizing

          • TFRX

            Hey, Moda refers to a male-handled poster as a little boy rather than a female.

            That’s an improvement in Moda’s conduct!

      • Isaac, in Groton CT

        You use the phrase “public good” and then say that you would prefer the “invisible hand.” Aren’t you completely ignoring what a “public good” is, and the reason it’s called a “public good?”

        • Modavations

          Dropping the 457 billion per annum interest payment is the Moda public good and coincides with the populations in general.As soon as the ship is righted,drop those taxes

      • nj_v2

        Debt, deficit, like whatever, dude.

        Despite his purported BC education and guppie consultations, Modatroll seems not to realize they’re different things. Most people would be embarrassed to make themselves look so foolish in public, but any attention is good attention to a troll like this dolt.

        2011 deficit is about 9.5% of GDP.

        Under Obama’s proposed budget, it would drop to 4.1% by 2015. 

        Public-held debt is about 70% of GDP and would increase to about 87% of GDP by 2021 under Obama’s budgets.

        (CBO projections)

        • Modavations

          Sen.Obama……I’ll cut the deficit in half by the end of my first term….Senator Obama,,,,It’s treason to raise the debt celiling…..Sen.Obama,,,,How dare you have gas at 4.00 per gallon….Sen.Obama,,,,only public financing for me…..Sen.Obama ,,,,no money from Lobbyists from,Sen.Obama…

          Pres.Obamas first act as President,the rescinding of the D.C. voucher scholarship program…

    • Isaac, in Groton CT

      It’s hard to do both. Stimulus can take the form of tax cuts and spending increases. Austerity can take the form of tax increases and spending cuts. It’s really one or the other – if you do both, you’re doing neither.

      • TFRX

        There is the idea of talking about both at the same time, but in different timeframes: Stimulus at this point in the business cycle, to maintain the proverbial “altitude” of the economy (no longer nosediving as it was in autumn 2008), and more about attacking the deficit in years hence.

        What we don’t need is to “reform” “entitlements” tomorrow. That will sink demand in order to chase the “entirely separate” unicorn of “investor confidence”.

        (Tangentially, the number of people who started panicking over the deficit (in raw numbers only) after the start of the economic crisis is a hoot.)

        • Isaac, in Groton CT

          Ah, well, yes. Counter-cyclical trends of stimulus with the bust and austerity with the boom are what I advocate. But I always presume when people argue over “AUSTERITY OR STIMULUS!?” that they’re talking about what to do right now. And right now, we should probably be stimulating the economy, though, perhaps, not as much as we should have two years ago.

          I think “reforming entitlements” is a worthy goal when we’re in an austere period. First, it can save us money with less impact on the service provided, and second, it can improve service. I want the government services that my tax dollars to provide to be used, as best as they can, towards actually helping people. That’s the point of having the services in the first place. While you’re right in that *tomorrow* is probably not the best time to do it, I just want to make clear that I’m not necessarily opposed to doing it ever, if doing so is cost-effective.

  • Brandstad

    Obama’s energy secretary admits economy sucks 

    President Obama’s Secretary of Energy was answering questions before the
    committee when it obviously dawned on him he was committing a party foul. When
    asked about his “we have to somehow boost the price of gasoline to the levels in
    Europe” gaffe, he accidentally admitted the economy sucked. 

    • TFR

      You bring these little nuggets of iron pyrite here and demand we assay them.

  • Anonymous

    Let those who went to the party pay for the cleanup.

    The farmer has to clean up the fields after a storm. The rancher has to rescue his herds after a blizzard. Let the wealthy roll up their sleeves and start helping to clean up the mess which they helped create through corporate sponsored “delegislation” from which they so disproportionately benefited.

  • Anonymous

    I’m with Paul Krugman on how and why austerity is a bad idea.

    http://krugman.blogs.nytimes.com/2012/03/12/losing-the-belt/

    and

    http://krugman.blogs.nytimes.com/2012/03/14/macro-retrogression/

    That said, I think those who preach austerity should practice it and leave the rest of us alone. Over the past three decades and more, the Republican party have repeated dodged the hard truth:  they are the big spenders.  This isn’t an arguable statement.  History records their profligacy as well as their inability to face the numbers.

    • Gregg

      Crackpot Krugman jumped the shark long ago and is much too partisan to be credible.

      • nathan

        You are calling Krugman a crackpot just after using FoxNews as a source to support your point. It is you who has jumped the shark my friend.

        Most economists (who are not affliated to crackpot org like AEI, Heritage) believe the stimulus worked and had a role in improving the economy.

        • Modavations

          Jobs saved is fiction.Made up by the Pres…..Boobbait for Bubbas

        • Gregg

           Ah, the ol’ “most economist” dodge.

          • Drewjkelly

             Yeah- don’t listen to the most highly respected economists out there when you can just turn on Rush for all the answers

          • Gregg

            The most highly respected economist out there?!?!?!?

            Krugman????

            He’s a laughing stock.

      • Isaac, in Groton CT

        Gregg, I’ve seen a number of your comments now and I can say with absolute certainty that your assessment of Paul Krugman’s partisanship is as close to worthless as anyone’s can be.

        • Gregg

          He has contradicted himself dramatically based on ideology. Do I have to get the links and prove it… again? It will mean more if you do it yourself. Just be a little curious, Krugman has been thoroughly discredited.

          • Fredlinskip

            …by those same reliable sources that say that man-made climate change doesn’t exist.

          • Gregg

            Dude, you are getting really annoying. I can’t believe you and others post meaningless comment after meaningless comment complaining about Moda when he’s making points. You are not.

            I can use Krugman’s own words to hang him. I’ve followed him for years and years. Must I prove it? C’mon man, you know I can. It won’t be pretty and I’ll feel like a dork for spending the time. I assume you have never, a) questioned anything he wrote (much less read an opposing view), b) noticed how different his message was during Bush, or c) both.

            Here’s the deal, you can’t be a serious consumer of knowledge or you would not trust Krugman. So, as you snarkily imply I am whatever it is you’re muttering under your breath, I have already dismissed you. For the good of the country you guys must be defeated as soundly in 2012 as you were in 2010.

          • Isaac, in Groton CT

            Again, Gregg, after having read your posts, I’m going to take the phrase “thoroughly discredited” with a grain of salt.

          • Gregg

            Then you haven’t been paying attention.

          • Isaac, in Groton CT

            No, I have, hence the grain of salt.

      • Anonymous

        Krugman, about the smartest guy around, is a red flag to the right.  Sometimes it’s useful (and this is addressed to Gregg as much as to anyone) to check out the more centrist Simon Johnson if only because he can state many of the same truths as Krugman but (boy, the right really hates Nobel Prize winners, don’t they!) Johnson has different creds and experiences.

        Lately he’s been thinking about populism and about the Kochs.

        http://baselinescenario.com/2012/03/15/responsible-populism/

        But I just want to add that Paul Krugman isn’t just an ace economist who keeps turning out to be correct, but he’s been developing a really good ability to see behind the numbers to the social and psychological drivers of economic decisions.  And to see beyond the anger,childishness, fear and know-nothingism of the right.

        • Modavations

          Listen kid,I told you to google  Krugman and read the article by the NY Times’ first Ombudsmen.Read it!!!!

        • Fredlinskip

           Yeah? who says? Yo mamma?

           (just trying to raise the level of the conversation a bit)

  • Gregg

    The “stimulus” was money down a rat hole. Trillion dollar deficits as the new normal are not sustainable.

    • Anonymous

      That’s a political statement, Gregg, not an economic fact.  The stimulus didn’t cost trillions of dollars, the wars did.  The slow, steady improvement in the job picture has been the result of a highly imperfect stimulus (imperfect largely thanks to Congress, not to the president; imperfect in that it was too small by more than half).  The numbers are there now to demonstrate its limited success. 

      The stimulus given to the auto industry has resulted in an indisputable success for both labor and management.

      Was it Biden who said this morning, “Killed bin Laden; saved General Motors”?

      • TFRX

        Another IOKIYAR indicator: If a Republican president had saved GM and hadn’t tired of looking for Osama Bin Laden (yes, a fantasy), one can imagine a Republican pol saying that phrase.

        In that case, “Bin Laden is dead and GM is alive” would be on the lips of every political pundit, and the hosannahs to its bumper sticker victory would have been echoing through the mainstream media from 2011 through inauguration day 2013.

      • Gregg

        Sorry, it’s true. The green jobs fiasco is the best example of the rat hole theory. I don’t know what the latest dollars per jobs analysis is but it ain’t good.  How can you call the Volt (GM’s swan song) a success? 8 years of wars cost less than the “stimulus” bill, speaking of facts.

        http://www.foxnews.com/politics/2010/08/30/cbo-years-iraq-war-cost-stimulus-act/

        • Anonymous

          I admit I never click on Fox links!

          • Modavations

            Try it,I sit through a torture session with MSNBC every night.Real men don’t fear difference of opinion

          • Gregg

            I expected that but it’s CBO numbers and they are actual not projections. Your claim does not hold  up and the proof is a matter of record. Out here in the real world that’s news and it matters. Go back to sleep.

          • Anonymous

            Those CBO numbers don’t, of course, show you off-budget numbers and Bush was very careful, if you’ll remember, to push the costs of the war(s) off budget and into the future. Among other economists in 2004, Stiglitz projected the costs of the Iraq
            war as close to 3 trillion. That was laughed at by many on the right.  A quick google today shows that in 6/11 the projected cost of the wars had risen $3.7trillion and was expected to rise to $4.4t.

            It’s hard to answer  your comment with more details in part because your comment (guided by discus/email) is floating on a separate page, detached from our previous comments, lost in the deep past.  But I do remember your raising the issue of environmental jobs and other considerations I never raised.  So it seems to be you’re dancing around the central truth here: Bush left a country in  debt, in two wars, and in deep do-do thanks to the crash of the financial system.  Obama’s “bad” numbers are about bailing out banks, letting the auto industry have government money because the financial crash had suddenly and unexpectedly cut that huge industry off from its usual access to credit, extending compensation to people who were going to be out of work for a long time, and of course keeping those damn  wars going as well as keeping the country on an even keel. Suggest you go back over ten years and look at the full extent of the mess Obama was left with — thirty years, if you have the time.

            Thirty?  Yes, because the financial debacle began with deregulation during the ’80′s.  And it’s the resulting mortgage mess beginning in late ’07, building to Lehmann et al. in 2007-8 that cost the country so much after the final months of the Bush administration.  Bush passed that Augean pile on to the Obama’s administration starting early in ’09 along with a growing deficit and a bunch of Republicans who were looking for someone else to blame.

          • Fredlinskip

             Stiglitz is another of those comi economists. He ain’t been on Fox yet, so we knows he ain’t no good.

          • Gregg

            Leave aside the fact that Bush has been gone for 3 years now and he’s still getting blamed for the bill. Leave aside the whole “off-budget” thing is at best a misleading talking point in the final analysis. Forget about Obama upping the ante in Afghanistan. For the sake of this argument let’s assume you are correct about everything. The wars cost $3.7 trillion and it’s all on Bush. Obama added $5 trillion to the debt in less than half the time. It’s time to quit blaming Bush.

          • Anonymous

            That’s true, Gregg, about blame. Blame has a cut-off point.  Those guys in the planes should no longer be blamed for destroying the buildings in New York.  That Hitler fella is no longer to blame for the camps.  How could I have been so mean…! 

        • Charles A. Bowsher

          Gregg, you mispelled your link, it should have been “http:www.fauxnews.com/politic…

  • Cory, Lord of the Nerds

    AUSTERITY:  Cuts affecting the poor, the sick, and the elderly.

    STIMULUS:  Money for the wealthy, businesses, and “job creators”.

    Thanks for nothing.

    • Patrik

      But couldn’t there be a way to reverse your assessments of what those two terms currently ‘mean’ and make them work for everyone?  I sincerely feel that we have the intellect and creativeness to make those decisions.  As far as will, specifically political will, I’m not sure.

      • Cory, Lord of the Nerds

        Of course there is, but I’m not optimistic.

    • Modavations

      Chato means Pug or Flat nose.What you’d look like after 5 rounds with my sweetheart.

      • Terry Tree Tree

        You’re pushing Barney Frank to box with Cory?

    • TFRX

      Every recession since WWII has seen the extension of UI until unemployment rates became much more normal. That stopped once Republicans discovered there was a black Democrat in the White House. (The less said about our mainstream media’s deficit fetish at this point in the business cycle, the better.)

      UI, TANF, food stamps: These normative, direct means of getting money into people’s hands, preventing foreclosures, drop-outs, unretiring, (and maintaining demand), what label do they get?

    • Guest

      You are almost right.  I would change 

      STIMULUS:  Money for the wealthy with connections to the White House!

    • Steve

      Austerity:  Money for the oligarchy
      Stimulus:   Money for the oligarchy

      This may be the common denominator to the split of opinion on this board…

      -some favor less government and more individual responsibilty/freedom so that the oligarchy can be reined in
      -some favor more government as a balance so that the oligarchy can be reigned in

  • Guest

    Piven is predicting the Occupy Movement is entering the phase where it “makes trouble” and will soon be taking action against banks and other institutions.

    “It may well be that the Occupy movement is now in its second phase, in the phase where it makes trouble, in the phase where it threatens to shut down institutions,” Piven said. “The Occupy movement has moved into the neighborhoods of our cities, it has moved into the schools….This spring, we’ll see action against the banks, against the corporations.”

    Piven went on to spew more wealth redistributionist venom:
    “The people who were sitting on top of the world, the top-tenth of the top 1 percent, were guilty. They were guilty of thievery, of chicanery.”

    • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

      We coming back next month. when it gets a little warmer outside to protest. it is not over the battle for middle and poor rights continues.

      • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

        We are not making trouble how can you say that when people from different walks of life are members of 99%. People who lost their houses. US Veterans, Nurses, Unions, Students.

        Go out there and see and listen. Dont watch us on the news (if we are on the news).

  • Ellen Dibble

    There was a piece in the local newspaper yesterday that to me puts the question not as to austerity versus stimulus, but rather the question is about building in resilience, both at the financial management level and at the gears of the economy level.  Projections are for crises that are no way part of our planning.  As Greenland’s glaciers collapse, and ice sheets reflect less sunlight and warmth away from us, but absorb more heat, the shape of things will change fast.   Good planning or bad, with a Federal Reserve and power to issue $$s or not, situations (storms, unusual conditions, extremes) may toss this away.  
        HOW to build resilience into our governmental structures and our economies and ways of life… (ability to switch from austerity to stimulus with dexterity for one?)See 
    http://slr.s3.amazonaws.com/SurgingSeas.pdf.  See, posted March 15th in  ”Environment,”  ”Seas will rise, flood”  warns Eric Schmidt, by Lewis Page.  See also Michael Klare’s new book, 
    The Race for What’s Left: The Global Scramble for the World’s Last Resources.  

    • passingthru

      so what should we do….stock up on ammo?

      • Ellen Dibble

        I think I’ll prepare the way the Fuhrer did, with just one bullet, or some toxic meds.  But then I’m old.  I could probably just stop eating.

        • Modavations

          First he ate 20 Percs

  • Anonymous

    Growth has always seemed like the method that America used to get itself out of an economic funk.  But wasn’t it Hyman Minsky who argued that it only encourages ever larger bubbles down the road and much faster?  There seems to be trend that economic crisis have been getting larger and more frequent: saving and loan crisis, then long term capital management, then 2001, then 2008.  What’s going on here?

    I think stimulus is the way to go, but the problem is, when times are good, nobody want’s to take away the punch bowl, as Volker put it.

    • TFRX

      Republicans are FiscallyResponsible(TM), right? When they get into the White House, they can do all that budget balancing and deficit cutting they way they did during GWB’s 5-year expansion.

      Oh, wait.

  • george t

    Prof Rogoff please be bold and tell us how you think US dept should be handled? Slowly and after more “recovery” or its an emergency and we must tackle debt now? How much dept how long in years, 1, 5, 20, 50?

  • TFRX

    “Investments now can reduce deficits in the future” per Jackman.

    Have we got through half the show without anyone mentioning “multiplier effect” yet? I hope not.

  • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

    We the 99% are back on April.

    • passingthru

      we’re still not paying your tuition bills!!

      • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

        Who said we are asking you to pay the tuitions.
        Remember the group are from different walks of life. People who are tired of the government doing nothing about higher tuition fees, higher gas prices,jobs,better healthcare for the veterans and better pay for US soldiers, stop the greed and prosecute the people who destroyed the American economy.

        You are here complaining about the Government while we are actually doing something out in the street so the world can see our Frustrations.

        Don’t you see and hear that.

        What you saw in the news are bogus?

        Watch Current TV and see the truth.

      • Modavations

        In Boston there were signs asking for donations to clean up the so called”People’s Park”.The creepies wouldn’t even clean their own filth.The taxpayers did.When the OWS crowd leaves, the site looks like Joplin after the tornado.After a Tea Party conclave,which gets a permit,which pays police,which secures insurance,it’s cleaner then when they arrived

        • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

          We clean it up I was there

  • Ellen Dibble

    Economists here have said the recession here won’t let up till the American personal credit card gets back where it belongs.  I’m not sure if “they” count mortgages and student loan debt.  I’m not sure if they qualify productive debt, that invests in new businesses, versus nonproductive debt.  But I’d like to know if the UK had the same situation.  (I hear in England they have a Value Added Tax of 40 percent — which I have to say sounds stiff, but maybe that isn’t across the board, from food to yachts.)  I’d suppose that pushes down the consumer lift they might hope for.

  • Modavations

    Economists give Palm Readers a bad name.Listen to the Eng guy..Who would believe someone who speaks with inflections like that.

  • Wally

    Perhaps what we are seeing in Europe today is a glimpse of our future, if we’re not willing to change our trend towards greater and greater gov’t control and government entitlement programs. But politicians get elected and reelected on promises of more gov’t support, for general national support pgms, middle class subsidies and tax cuts, including unfunded drug prescription pgms, national health care. Our poiiticians have sold the public on their *entitlement* to a comfortable life… Add to that our increased defense spending, unnnecessary wars, desire to police to world………..

  • Modavations

    No sacrifice!!!!My pay has been cut in half.Rogoff is not an economist.He’s a Dem.Economist,though not in the vein of Krugman.Goggle what the NYTimes first ombudsman had to say about Krugman.To paraphrase he said he’s a whack job

  • Christa

    I think we NEED to invest in infrastructure, (which would be a kind of stimulus) whether we want to or not. If you are broke but the roof of your house is caving in, you don’t just let it go, you figure out a way to get the money to fix it because it just HAS to be done.

    Infrastructure improvements would be stimulus that creates jobs in the short term and pays “dividends” in the long term as well.

    • Fredlinskip

       Currently U.S. ranks 23rd in World in quality of infrastructure.
      We’re behind Barbados.
      What’s the problem?
      Long as the wealthy are getting wealthier, where’s the problem?
      They’re likely investing in Barbados.

  • GradyLeeHoward

    Cory the nerd is mostly correct. He eschews both austerity and stimulus. It’s misdirection to set up this binary debate having little relation to real life problems or structural injustices. Shows like On Point use the publicity technique of putting “two dogs” in a pit and barking the bloody blow by blow. Tom Ashbrook is perfectly fitted to such a role. (Does 9/11 have two sides and no ends?) Binary propositions do not reflect actual conditions or problems and do little to enable constructive discourse. Every partisan and selfish urge is mobilized as correspondents on this blog bicker uselessly. I can see what interests benefit from such a truncated discussion. Can you? Narrowing alternatives is a convenient way to conceal innate structural problems. We are arguing over prescriptions without diagnosing the disease or determining real causes. It’s kind of like how Susan Komen Foundation doesn’t want any research into breast cancer causes. Supporting phamaceutical corporations, cosmetics purveyors, chemical companies and food processors are content with the arrangement. Those with breast tumors should not be.

    • Modavations

      Please,please,please go to Switzerland.I’ll throw $100.00 into the kitty.

      • GradyLeeHoward

        Email beretco.op@hotmail:disqus .com and I’ll give you the address to send as much money as you wish.
        Give ’til it hurts, then double down.

        • Modavations

          Show me the ticket,I’ll send the bucks.

        • Fredlinskip

           (Hey Grady… just send something that looks something like those fake Obama birth certificates T-party were making that says Switzerland on it somewhere- should do the trick)

  • Ellen Dibble

    I hear (from Osborne, the chancellor of the Exchequer, on Charlie Rose last night), that England has the kinds of infrastructure projects on line; an austere budget apparently sees that as a plus; fewer car owners?).  High speed rail through London and throughout?  Check, done.  (In the USA, not so much.)

  • Doubting Thomas

    I have a Republican classmate like Modavations.  Don’t bother arguing with them, it just encourages them, and the back-and-forth name-calling is annoying and childish.

    Thirty-plus years after the Laffer curve was scrawled on a napkin, and they still believe that supply-side economics will eventually lift all boats. Now we know that it’s just the yachts.

  • Ellen Dibble

    I heard a report that when taxes are raised on the upper echelons, they do not stop job-creating; they do not cut back on working and sort of go on strike due to less profits.  No, no, no.  Instead they go to their accountants and find more tax shelters, they defer reimbursements or taking profits, whatever is available.  But they do NOT pay more taxes.

    • TFRX

      Interesting. What kind of taxes, investment, income, corporate?

      And it’s never a wrong time to remember that response from the previous President was a “gosh, them rich folk are too smart for us” speech, and a shit-eating grin.

      • Ellen Dibble

        I believe I heard that on BBC Newshour, carried on NPR, maybe yesterday morning.  I’ll see if I can find a link.

    • Modavations

      Bull.Read Ayn Rand.Read Laffer Curve

      • Anonymous

        I have…
        Rand’s creation of Objectivism was naïvitee and hubirs to the nth degree – failing to acknowledge or recognize the irrational egoism that compels so many people, in particular those who seek wealth and or the reins of power which can only end in pathological anarchy.

        Thanks to the cabal of Rubin, Summers, Geitner and Greenspan we were set up for this fall for decades ago. In referring to the Randian based market model that we now continue, still with too many regulations by Republican arguments, Greenspan said: “The whole intellectual edifice, however, collapsed in the summer of last year.”
        Her hatred of the state probably stemmed from the Bloshevick revolution which took her father’s pharmacy and drove them to flee their home.

        Barring slavery, Indian genocide and wars, her philosophy may prove to be one the worst things that ever happened to America.
        Rand died collecting social security denying the link of cigarette smoking to cancer.

        • Modavations

          I’ve told you a million times I won’t read anything over a paragraph.While I haven’t read the screed I guarantee I could say it in half a paragraph

          • Anonymous

            I said it all in the first paragraph… the rest was gravy!…

            Then I guess your understanding of economics, sociology and history can be summed up to a paragraph… I’ll give you one for each subject ;^))

          • Modavations

            What up black fang

          • Modavations

            I’ll do it in one paragraph……Eve said to Adam,if you want sex I want diamonds.Everything you do,everything you think is to secure women.Laissez faire is the most efficient way to achieve this end.

      • JayB

        Trash and nonsense, both of them.  It’s quite clear in her work Rand couldn’t even comprehend what the other side was saying.

        • Modavations

          Her point is,if you make life too difficult on the producers they stop producing.Laffer says you can only tax so much,then people start to dodge.

          • Anonymous

            The next person who refuses to make more money because their tax rate on that income will increase will be the first one in the history of the humanity.

          • Modavations

            I talked to my cuz in Bologna last night.He’s charged 53% income tax and 23% Vat.He said,I’m going to retire.You must have STP

  • GradyLeeHoward

    Can you tell me why Barack Obama and Mitt Romney are two sides of the same austerity coin? Two sides of the same National Security State coin? Two sides of the pro-nuclear power coin? Two sides of the same oil region hegemony coin? 
    Two sides of the same corporate welfare coin? 

    It’s always “heads you lose” for the people doing the necessary work; paid and unpaid. Why must our representative government be co-opted by the magician’s coin toss?

    • nj_v2

      I think it’s becoming less of a two-sided coin, and more of a slightly flatted sphere. Less difference all the time.

  • Anonymous

    I am wondering what your guest meant by all the “under the table tax deductions.”  Are there tax deductions that are not published by the IRS?

    • Tina

      I assumed he meant the kind of tax deduction that a CPA would have to advise a client about.  Perhaps the client would even have to “invest” in something first to be eligible for the deduction.  I overheard some things at a party once that really set me on my heels:  it made me wary of some of the other people attending, and it explained their affluence in ways that were, really, none of my business, except for the fact that the government seemed to be organized to help people with those kind of resources, and weren’t they talking about MY government, also?

  • TFRX

    Our host is credulously repeating things that John Boehner et al have said about the economy since inauguration day 2009?

    The GOP has long since decided their only political hope to put one man out of a job was to keep millions out of work.

    Tom, please pick and choose your devil’s advocacy more carefully.

    • Modavations

      Translation.If NPR is not 125% left the data is invalid

      • TFRX

        You’re translating me?

        I guess that’s one more language you pretend to speak.

        • Modavations

          I speak all the Latin Languages,plus pig latin,plus tourettes

          • TFRX

            Stick to what you know. (If I were to translate as accurately as you do, that would be: Stop typing yesterday.  Then whine about storm troopers when someone asks you to own your shit.)

          • Modavations

            Shit….Here comes the real tourettes

          • TFRX

            Tourettes is one more thing you haven’t passed Go or collected $200 about.

            Flagged.

  • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

    iOnePoint:

    Remember it took almost 2 decades for the Civil Rights Movement to succeed and if the 99% movement will take the same time and effort we will succeed.

  • JMc

    simpliy validating what we all know, shame that it took him so long to figure it out.

  • Steve Nelson

    I think it was Rogoff, but one or the other made the comment with no substantiation (and opinions among economists and others are enormously divided on this) that Great Britain differs from us in part because they already have an large fiscal burden driven by their governments health care costs and that with our Reform Act we are only now getting into the game of much greater expense. That is highly debatable if not untrue. Many think Obama’s plan will reduce not just government expenditures at the Federal and State levels but will down the road reduce what otherwise would be health care’s chunk of GDP. Why doesn’t Tom or somebody push back when a commentator throws out this kind of tripe?

  • BHA in Vermont

    Has Mr. Smith gotten religion and given all the money he took from clients to charity?  Yeah, I didn’t think so.

    Is there a lack of morality and ethics on Wall Street? Absolutely. These people are MASSIVELY overpaid for what they do. And they make money whether their clients win or lose.

    I doubt Mr. Smith’s “revelation” will do anything to change the sense of entitlement in the Wall Street crowd.

    • Modavations

      Did you get my stuff on gas prices

    • TFRX

      But it will convince some “moderates” to not be so “mean” and “regulatory” (same connotation, of course).

      I always maintain that Wall Streeters don’t have to pretend to care about me, and I won’t pretend to care about them. This is supposedly a business wherein they try to make all the money they can.

      Fine. Then they don’t get to complain about the idea–the mere presence–of regulation, the way that baseball players don’t get to complain about having umpires.

  • Charles A. Bowsher

    I don’t want to hear anymore whining about Class Warfare.  The Class Warfare we are accused of trying to wage is a reasonable and measured response to the Class Genocide that has been waged against us for the last twenty or thirty years.  Look at the stats, they tell the story.

    • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

      What class warfare?

      There is no such thing. If you got money you are someone but if you got no money you are nothing.

      When did the middle class or poor fought the rich in court and won all the time. Even Lindsey Lohan can get away with murder without going to court or run down a pedestrian and won’t be arrested.

      Remember that young Football player who got rattled and accidentally run over a police officer and the kid was shoT multiple times because he got nervous.
      The parents lost in criminal court and now they going to lose again in the Civil court. What class warfare!!!!

      Class warfare is for the rich not for the middle class or poor Because WE DONT HAVE TIME TO HAVE THIS PATHETIC IMAGINARY WAR THAT THE RICH PEOPLE INVENTED.

  • Tina

    In about 1986, I had a job thru a Temp Agency at a Financial Branch of a regular bank.  One man I was to report to said one time:  

    This guy wants a loan?! Hah!  I’ll give him a loan! Hah! And then I’ll bury him in so much interest he’ll feel buried alive!  Yes, I can’t wait to give him this loan that he wants!  Here it comes, sir!

    I think I only lasted until the end of the day before I asked the Temp Agency for another assignment.

  • nj_v2

    Another On Point program addressing the economy, another program that fails to even mention the phony, unsustainable presumptions that underlie economic “growth” (let alone address them in detail). 

    Yet another plea to consider the steady-state philosophy.

    • Modavations

      Translation……This doesn’t coincide with my world view and invalid

  • Guest

    US e-voting system cracked in less than 48 hours! AND APPARENTLY THIS ISN’T NEWS BECAUSE NO ONE SAYS ANYTHING!

    http://www.h-online.com/security/news/item/US-e-voting-system-cracked-in-less-than-48-hours-1463881.html 

  • Brandstad

    Shouldn’t we move the conversation to “How much money can we save by reducing regulation and government waste?”

    • TFRX

      We also need a serious discussion on our unicorn overpopulation problem.

      • Guest

        So you are saying there is no government waste?

        So 10,000 new Obama regulations sounds reasonable?

        How can the average american even know if they are in violation of a regulation when there are 10K more every 3 years!

        • TFRX

          You need to learn what “sourcing” is.

        • Anonymous

          Give us the cite to what you consider the 10 worst.  Or just list them here.  Surely you can provide factual support for .01% of what you are talking about.

          • Modavations

            Davis Bacon and Prevailing Wage
            Mark to Market
            Hay as a pollutant
            Please don’t get me started

        • Modavations

          Dr.Berman on NPR said it’s up to 130Billion in Medicare alone,per annum.Dems.can’t cut, they use the money for vote buying.

          • TFRX

            Don’t anyone tell Moda about the Texas Tea Party Doctor on the hook for 1/3 billion of Medicare fraud.

            It’s so totally a proof that government doesn’t work, and reflects nothing about the purity and honesty of Our Galtian Overlords.

          • Modavations

            Fraud is fraud.AAre you saying Dem.Dr. Fraud is good

          • TFRX

            Medicare fraud perpetrated by a Tea Party Doctor. $1/3 of a billion dollars.

            I don’t expect you to cogitate it. Anyone else, I expect it to sink in.

        • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

          You pull a number out of the air and expect to be taken seriously?  10,000, why not a million?

      • Modavations

        Just tourettes

    • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

      How about talking about reducing corporate subsidides, CEO compensation, and trillions wasted on unwinable wars?

    • Fredlinskip

      Can’t get enough of those financial collapses, can you?

  • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

    The greed of Wall Street continues. We the people are tired of those rich and arrogant SOB.

    Why is greed so important in this world while I give my last nickel to a beggar in Boston. I gave my last nickel because those people are more unfortunate than me.

    Why can’t Wall Street do the same for the middle class and the poor.

    The majority of people all over the world are poor only the 1 percent can sleep at night while others sleep with an empty stomach. skip lunch or dinner to save money for gas and to pay bills.

    • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

      Does it hurt to read the truth and I know some of you to that. have you ever bring peanut butter and jelly sandwich to lunch in order to save money to pay bills. While Wall Street dine at fancy restaurants we dine in our cubicle to save money.

      • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

        Why do you reply to your own comments???? Do you talk to yourself too?

        • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

          I don’t reply to my own comment that was an extention of my comment. You know what everything was peaceful before you started to comment. You sound like Jeff68. TFRX and Mod been arguing since this morning but I never read anything that they can really offend each other until you came.

          • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

            Welcome to the world of free speech. If you do not like it, do not visit this site, or SKIP OVER MY COMMENTS FOOL. If you have the memo putting you in charge of this site, please mail it to me.

          • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

            Your definition of Free Speech is a mixture of violence. Fool? who told you I am in charge of this message board. I just telling you to stop using Violent, Degrading,intimidating comments about someone or me.

          • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

            go get a life you’re so Mad that it reflects on your comments.

          • Modavations

            y immature reply is reflects a man who is scared to death that his world view is flawed

          • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

            zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

          • Modavations

            Free speech.You scream at anyone with a dissenting opinion.You’re so crazed you want me shot.But have at it,I guess.

      • Fredlinskip

         That’s probably healthier than hittin’ the fast food joints.

  • Guest

    Does anyone here know that over 10,000 new federal regulations have gone into effect since Obama entered office.  

    Does anyone else think this is a little excessive!

    • TFRX

      What’s the definition of “talking point” sans “point”?

      • Modavations

        I’ll call my M.D..there are pills for tourettes.Count how many posts you’ve made today that are just temper tantrums.Sans l’intelligence

        • TFRX

          Another right-winger with that marvelous app which turns mere pixels into vocal inflection and non-verbal communications cues? Miracle!

          Moda, given your typical discourse, I’m sure your MD follows you around with a pill gun.

          • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

            Mod and TFRX are awesome.

          • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

            Follow that one around with a real gun. He is dangerous and full of hate and bigotry.

          • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

            TFRX said pill gun and you added real gun. Do you have self control when you hate someone or you just punch them on the nose without warning. you are too violent to put comments on On Point

          • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

            Oh please….  Back to sleep with you!

          • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

            I’m not depress to be sleeping a lot.

          • Modavations

            Your rather violent.This guy used to pop in and go Hang him,to any right winger being discussed.No trial,no nothing,he’d just say hang em.You’d make Pol Pot pround.Can you swing a ball peen hammer

          • TFRX

            JasonA, I appreciate your sometimes-over-the-top rhetoric most of the time, but I don’t come to this corner of the internet for people to introduce “real gun” to the conversation.

            Even in jest.

            Too far.

          • Terry Tree Tree

            Should have edited it a little more?

        • Anonymous

          Yes another right winger – livin’ in the bubble.

          • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

            You have that correct and spot on. I would add: not only a right wing extremist, but a bigot and homophobe. One nasty individual for sure.

          • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

            Wow!!! everthing were civilized arguement until you started commenting about me and Mod. Do you actually can’t find a better words to bully someone without intentionally saying bad words.

          • Modavations

            This is one violent guy

          • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

            Speak for yourself, you know nothing of anyone else on this site.

          • Modavations

            Please not another public nervous breakdown

        • Terry Tree Tree

          Moda’s selling pills over the internet?

    • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

      Obama’s 10,000 new federal regulations against Bush’s Patriot Act. Which one do you choose?

  • Modavations

    How much did each bottle of wine cost us last night, at the White House soiree?

  • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

    I hope the people who voted for George W. Bush twice gets Karma for voting an incompetent President.

    I can’r you People voted for a President who destroyed the American economy. Where is he anyways? I haven’t heard from him since he left office.

    Hiding from us all.

    • Cs Millyard

      The economy is far to complex to put on anyone policy.  There were significant and harmful policies cast by politicians from both parties that built the house of cards call the American economy.

    • Modavations

      You’re starting to sound like the rest of the haters.What’s up.He made a speech last week saying the XL Pipeline was a “No Brainer”.

      • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

        I don’t hate him I just don’t like him.

        • Modavations

          So say that without the theatrics.I’m not being mean,but you’re over the top today,in my opinion

          • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

            I’m just being over the top once in awhile and being theatrics is part of it

          • Modavations

            right on

        • Modavations

          I hate em all.The only time I ever voted was for Perot

      • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

        Bush has the intellecutal capacity to be selling used cars..and that is it. Without daddy’s money and connections that is what he would be doing. Nothing more.

    • Fredlinskip

       Basking in his “legacy” no doubt.

  • Fredlinskip

    When the Depression hit, I believe Roosevelt initially went the austerity route, and the Depression only got worse. It was only after he began to adopt the stimulus route did the economy begin to turn the corner.

    Ah but who needs learn from history. Let’s keep making the same mistakes. That after all does, more often than that, seems to be American way.

     We’re lucky Bernanke spent a great deal of time studying Great Depression, and has done what he could to adopt stimulative measures.
    Otherwise situation would likely be FAR worse.

    • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

      FDR did not save the American economy from the Great Depression it was World War 2. We should thank Japan and Germany for that (being sarcastic).

      • TFRX

        But what about keeping the lights on? All the violence bubbling under the surface, and the far-right and -left politics which were getting adherents owing to the outright human suffering in the 1930s is not to be ignored.

        All those millions who, thanks to the New Deal, didn’t starve to death, who didn’t riot in the streets, who didn’t go to the poorhouse (like Ronald Reagan, who was raised by a parent on public assistance): There’s no value in that?

      • Modavations

        I have many mates in Berlin.It’s funnyhow enemies can become good friends

      • Zero

        There is no doubt that the war effort beefed up manufacturing.  But economy did start to turnaround before Hitler invaded Poland. 

      • Tmajor7

        If it wasn’t for FDR most Americans would have to endure exactly what they did in the great depression during the additional 6 depressions we’ve suffered through including what approximately 15 million people are living through right now!

        The biggest problem aside from a criminal gov’t is American.s inability to think and form opinions on their own while regurgitating what they hear! The solutions are it’s so simple but American’s refuse to break away from the brainwashing and save themselves!

    • Modavations

      What a fraud you are.I asked you 5 times why FDR had an animous for Public Unions and you refused to answer.You said you were too busy,.

      • Fredlinskip

        Don’t have a lot of free time, and not well-versed on the subject in question.
        I did see that someone else did respond and referred you to a letter written by Roosevelt, which stated that he was not against Government Unions, but was against them striking.
        In the environment of the Depression I can better understand his concern. Perhaps someone who is more versed in subject would be willing to debate subject.

        Or…
        I await with baited breath:
        Why did FDR have animus for Public Unions??

        • nj_v2

          Just ignore Modatroll’s ignorant foot-stomping for more attention.

          FDR didn’t oppose public unions, he had reservations about them collective bargaining over salary.

          • Anonymous

            Let’s play Facts Belief Emotions
            It’s the right version of Rock Paper Scissors… the only difference is that Belief and Emotion always trump Facts.
            This is the basis of the Right Wing Bubble – if facts contradict beliefs or emotions, they are not allowed in: they don’t penetrate the bubble. Thus there is no effort to assimilate and understand in the hope of determining the truth or arrive at the best solution.

            This is why Obama is still a Muslim non-US citizen in their minds… as if the Republican National Commitee would not have taken proof of this conspiracy all the way to the supreme court… unless… wait… they must be more afraid of Joe Biden!!! Now it’s all starting to make sense: I guess if McCain was president, he could get away with murder in the eyes of Democrats for fear of that renowned brain surgeon Sara Palin becoming president if he were impeached. :^))

          • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

            Well said.

          • Modavations

            They think he’s Muslim because his name is Hussein.What the hell’s wrong with being Muslim,anyways.It’s economic philosophy that interests me.I’d vote for a Martian as long as he’s “Laissez Faire”.By the way Joe Biden is the guy who said you have to speak Hindi because all the convenience stores in Delaware are run by Indians.Hey Joe arn’t all those corrupt banks and credit card co.s incorporated in Delaware.

            Hey Black Fang,if daddy abuses you,give me a call.

          • Fredlinskip

             Didn’t take French, but if my assumptions of meaning are correct: I’m all for an American economy that was a bit more fair. The lazy part, though, is probably not best approach.
            Lot of Americans got lazy and lived off credit before collapse. Wasn’t swell idea.

          • Anonymous

             Yet another clueless Randian… Laws were in place throughout the Bush administration to prevent the damage being caused mortgage originators and by wall street financial engineers but the mantra was lasissez faire so they ignored all the warnings for years and there was no enforcement of laws and regulations to prevent the crime of the century. You’re clearly insane to expect less regulation and law enforcement to not lead to another repeat of the disaster the the Republicans have the nerve to blame on the Democrats. There’s enough blame for both sides but the Republicans were at the helm… hay isn’t the right all about law enforcement?

          • Terry Tree Tree

            You admitted that you don’t vote?

          • Modavations

            Wrong again.Oneday you’ll get something right.Probably swerve into it,,,,,law of averages.He had no problem with Public Unions negotiating wages.It was eveything else he rejected.

          • nj_v2

            More vacuous idiocy from the Bureau of Modatroll’s Butt.

            Why don’t you post exactly what you think FDR had to say about public unions, then i’ll tear it to itty bitty shreds.

            It’s funny to hear the free marketeer clowns now trying to appropriate FDR to their cause.

          • nj_v2

            Here, i’ll even save Modatroll the trouble…

            FDR archives, press conference 380, July 8, 1937:
            Q Mr. President, do you think that Government employees should have the right to strike to enforce their demands? 
            THE PRESIDENT: No, the Civil Service rules cover that. That is very simple.…Q Mr. President, do you think that a union would destroy this ability under the present system for all employees to be heard? 
            THE PRESIDENT: Well, they can join any union they want. There is no prohibition against that .. They can join ten unions. 

          • nj_v2

            More…

            (From http://www.presidency.ucsb.edu/ws/index.php?pid=15445#axzz1pEBQNcSQ)

            Emphasis added so even the dim-witted can’t miss it.

            “The desire of Government employees for fair and adequate pay, reasonable hours of work, safe and suitable working conditions, development of opportunities for advancement, facilities for fair and impartial consideration and review of grievances, and other objectives of a proper employee relations policy, is basically no different from that of employees in private industry. Organization on their part to present their views on such matters is both natural and logical, but meticulous attention should be paid to the special relationships and obligations of public servants to the public itself and to the Government.”

        • Modavations

          What a fraud.Now you’re an expert on FDR.You use him when convenient.He said they’d buy the solons,who would kick back benifits,who would get more donations,who would grant more benefits,who would get more donations…. Empowering Public Unions would finally culminate in the Union Storm Trooper of Madison.While you asid you were so busy that day,you were back posting nonsense in 15 minutes.This is why I stay cclear of idealogues.
          By the way FDR and Moda have no problems with Private Unions

          • Fredlinskip

             Truth is most days, especially day time hours, I REALLY should be doing other things. But on those rare days I’m stuck in office doing paperwork, which is about as exciting as cleaning windows, and especially when OnPoint topic is a good one I indulge myself with a few comments.
            Now if I knew I was going to be arguing Moda about what FDR thought about unions, I might have just stuck with the ^#* paperwork.
            You’re a good influence- “modavation” for me to do what I’m supposed to be doing.

            And hey I’m glad to hear you’re a big fan of them Unions.

      • Anonymous

        Aren’t you referring to Theodore and not Franklin? FDR had unions at his back as he had theirs on many points of legislation.

        • Modavations

          Me and FDR back Private Unions.We reject Public Unions.

        • Jefe68

          No, it was FDR who was not into Federal Unions striking. He had not problems with unions and collective bargaining. It was the strikes he was against.

          • Anonymous

            I mean no problems…

      • Tmajor7

        Because if/when they strike they would be doing against to the American taxpaying people!

    • Tmajor7

      Absolutely, but the trillions spent on the QE’s, given to the big banks and selected corporations were an absolute waste! The QE scams took money that could have been placed in the hands of the Americans who were forced into unemployment, underemployment, underpaid employment, and onto the largest welfare roll in history, and purchased T-Bonds to alledgedly drive down interest rates when the U.S. gov’t and their Fed Reserve can adjust the rates 24-7 without spending a penny. The banks and corporations compensated themselves, purchased more wealth, and speculated in the stock market with their free money!

      In order to understand this, as well as stop this from continuing to happen, Americans must stop listening to what our gov’t is lying to them about and learn exactly how their  monetary system actually operates.

      • Fredlinskip

         I thought the point of QE’s was that Fed could not adjust the  rates, because when Obama took office, the rates were at zero. Hard to adjust’em lower than zero.
         I wasn’t happy banks got bailed by government Sachs either, although it’s not clear to me what the better options would have been.
        Perhaps letting the big banks fail and loaning money to the smaller banks, so that businesses could get loans?
            One things for sure, if we were gonna bail the big banks, there should have been strings attached so for 1) the same banks that screwed the country weren’t turning around immediately after bailout to give huge bonuses to employees.

        • Tmajor7

          The QE’s were supposed to be all about the Fed purchasing T-securities (in accordance with the law that dictates the U.S treasury must auction off T-secs in order to raise capital necessary to fund gov’t) in order to lend banks money at low and sometimes zero interest so they will have cash to lend cheaply, insuring capital gets back into the economy they murdered. We All Know How That Worked Out!

          No Banks Should Have Been Rescued. Although privately owned banks and the privately owned stock market are integral pieces in our economy, both are 100% unnecessary!

          In short we have a gov’t so the playing field is level and nobody is taken advantage of. Unfortunately our gov’t believes they work for wall street and select corporations and banks! They must be replaced! It’s much simpler than most believe!

  • Cs Millyard

    England is far more driven by the turmoil in the EU than the US.  They have major headwinthis makes it impossible to compare stimulation vs budget cutting.

    • Tmajor7

      In what way is England far more driven by the turmoil?

  • guest

    please please get Greg Smith on the show. I want to hear more of what he has to say about Goldman Sachs.

    • http://pulse.yahoo.com/_C2STBLZJK4VKQBV27DVQX3I6CU FAX68

      me too

  • Modavations

    How dare Bev Perdue give the go ahead for Friggin Frackin.I’ll tell you why,she’s not running for reelection,so she doesn’t need to worry about whacko Gaiaists,.She can actually pass legislation that will benifit the vast majority of her state.

  • Pingback: Money and Power Author William D. Cohan Discusses Controversial Op-Ed on NPR « Knopf Doubleday - Vintage / Anchor

  • Modavations

    Don’t worry Boston,the juice will be on by noon at the latest

  • Modavations

    I love the kid from Goldman….He made 500,000.00 last year.Give it back you hypocrite.Speaking of big deals.The largest trade the President ever made was with Tony Rezco.The Egyptian Parliment says Israel is the number one enemy of Egypt.Before the Arab Spring, Mr Pres.,Egypt was an ally of Israel.

  • Modavations

    From Corzine down Goldman is run by Democrats.

  • William

    There was a time in this country that saving money, spending wisely was a virtue. The idea of endless spending with borrowed money is foolish at best.

    • Fredlinskip

       From 1960 through 2008, every Republican president has increased the debt/GDP ratio and every Democratic President has decreased it.
         W increased US debt as a % of GDP by 27.8%, the largest of any administration in history.          Second was Bedtime for Bonzo at 20.6%.
           If History has shown us anything if you want balancing of budgets and lower national debt run like heck from GOP.
        Somehow they’ve got this neurotic notion in their heads that if you just decrease revenue on wealthy, revenue will increase???

      Huh???  
         

      • William

        Like I said, we used to be a nation of people that saved their money and spent it wisely. Now we are a nation of spenders of borrowed money wasting it on foolish ideas.

        • Vivianroberti

          That works for individuals but you better look up stimulus vs. austerity if you want to know the difference between individuals and the government.  It’s not simple it’s economics!

    • TFRX

      First, “business cycle”.

      Second, why aren’t you complaining to the self-professed fiscal conservatives who blew out the budget during a 5-year expansion, while never submitting a balanced budget?

      Can I just figure you’re not talking to us lefties, rather only picking a fight with the Birthrighteously fiscal conservatives? You both say you want budgets done one way, and none of you can get them done that way, given all the advantages you had during GWB’s term.

      • William

        Well, your statement makes no sense when compared to what I wrote so it is pointless to try and address.

        • TFRX

          Funny how the “why doesn’t either side cut spending” sorts only beat their chests about it when a Democrat is in the White House.

  • GMG

    This was once one of the more civilized corners of the web.  Now as I scroll down it’s one vacuous and bellicose charge and counter-charge after another.  Modavations and his ilk have ruined it, and I count 23 posts by this one poster alone.  I know moderating a list like this takes time, but maybe some simple rule like no more than five posts per show per user would help take the discussion back out of the gutter.

    • Fredlinskip

       You ever consider that that may be the goal?
      No one can make you read comments that you don’t choose to. Now if we all had to listen to Moda live on the radio- that would be rough. Sorta like tuning into Rush.

      • Fredlinskip

         Then again I can understand you’re frustration- I see now that if you tuned in in the hope of looking for a meaningful debate on a very important issue- subject of whether Austerity vs Stimulus is the best response to recession- you would have found a conversation that went far astray.

    • Anonymous

      I think there is nothing one can do. Feeding the mans inanity only spurs him on. Ignore him and maybe he will get bored, or maybe not. What is interesting is there was once a way to voice this issue to the producers and now there is not. They use to ban people for using the word idiot in the wrong context. I know how frustrating it can be and I’m guilty of falling into this guys web if inanity.
      Just say no to the mendacious moda.

    • notafeminista

      Because suppressing speech is always a good thing.

  • Fredlinskip

    Interesting choice faced Obama on his inauguration: the same for many World leaders today:
    Mr Prez, you have 2 choices:
    Door #1: Austerity                      Door #2: Stimulus
    Pick the wrong door  and you could very well collapse the nation’s, and perhaps even World, economy into a Depression.

    Which do you choose, sir?

    • Zero

      Cuts that don’t cut demand wouldn’t hurt, but they are hard to find, except for one huge expenditure: Afghanistan. 

    • Worried for the country(MA)

       But he picked door #3: flushing $trillions down the toilet.

      It will take us decades to recover.

      • Anonymous

        Funny, I thought that boat sailed when Bush left office.

        • TFRX

          Everything bad that happened in ’08 was pre-ruination caused in advance by Obama’s election, the way the oil shocks of ’72 and ’74 happened under the auspices of Jimmy Carter.

          Don’t you read history?

          • notafeminista

            Forgetting about the Arabs are we?

          • Tmajor7

            The Saudis are continuously going on record saying the price they sell their oil varies between $3-6 dollars a barrel. Depending on demand!

          • Anonymous

            The situation in 1973 was from an oil embargo by OPEC. For a student of
            history you seem to have left out the very date that is relevant.

            I’m making a comment about the present situation, not the 70′s.

            Presidents, despite what people and the media say, do not control the price of oil.

          • Tmajor7

            Because the US gov’t is a monopoly of our currency and they regulate our free markets, they control our economy 100%

            Given that the oil companies here are paying between 3-6 dollars a barrel (depending on demand) and price is dicatated here by refining, speculation ,and greed our gov’t and president absolutely can (and should) regulate the gouging. How much money do the greedy oil companies need to make off of $5 oil! 

      • Zero

        Go read a CBO report.  The recovery is intact.  However, I will say that an economic recovery is not the real problem.  It is a cultural problem that was brought to light by Smith, the guy who just quit Goldman Sachs.  The man had a pre-Reagan business ethic, where greed is not good.  It may take decades to get back to it. 

      • Nozdrev

        umm, we are recovering; Where do you live?  Greece?

  • http://freeourfreemarkets.org Steve Banicki

    Stimulate, export, cut deficit and military and restore equality are all related..

    We are in the fourth year of a Great Recession that could have been a depression. The end is still not in sight. The net worth of all Americans was affected negatively, as has their optimism and willingness to go on spending binges as they have over the last several decades. To make the recovery happen, part of the answer is to stimulate our economy by investing in our future including infrastructure, education and the internet.

     Our ability to presently stimulate is somewhat limited by the debt burden our country is currently carrying as depicted by the chart below. If we cannot show how we can afford to stimulate now and implement a debt reduction plan in the near future, we could be facing the same problems as Greece, Spain and Portugal. Read Mor:  http://goo.gl/PvbXH

    • Tmajor7

      Technically those who worked their entire lives and were forced into unemployment, underemployment, underpaid employment, have lost everything they worked hard for, and onto the largest welfare roll in history, are currently living in a Depression! It doesn’t matter what numbers the gov’t posts or what someone who isn’t currently living this claims! 

      It’s not feasible to compare a sovereign nation to a nation(s) like the 17 members of the EU who surrendered their sovereignty when they decided to use the euro instead of creating their own currency. Why do you think the UK, although a member of the EU, chose to maintain the use of their own fiat based currency? Because they’re not stupid!

      Don’t believe everything your told, what you read on the dollar bill, or what you see on youtube. We need to stop regurgitating the lies we’re told and start doing the necessary research, discover exactly how our gov’t and monetary system work, and then spread the truth! 

  • Rousseau

    Tom, you need to invite economists who employ a heterodox approach to economics. Mainstream economics as a school of thought has been thoroughly discredited, and I think we need to start paying deference to folks who approach economics from a non-mainstream perspective. UMass Amherst, New School, and U. of Utah has brilliant economists who do exactly that. 

    • nj_v2

      A couple of us have been agitating for even an OnPoint mention of steady-state theory for months. No luck. 

    • Fredlinskip

       Let’s call it “Heterodox vs Orthodox”. With a title like that, Tom should get a huge listening audience= Sort of like Smucker’s Jam- “it’s gotta be good”.

      No matter which way one decides to discuss economics, there are basic facts that can’t be denied, such as:

      1) there is a huge income gap in America, unlike there ever has been short of just before Great Depression.
      2) There is no correlation with tax breaks for wealthy and a healthy economy.
      3) IMO “growing the economy” is not the answer, because for more than 30 years , tiny % of earners at the top have made all the gains- Somethings wrong with this picture.
      4) Corporate lobbyists have too much political influence.
      5) Our economy was pillaged by machinations of a few before recent collapse.
      6) ____(fill in the blank)

      Speak to these issues “Heterodoxically” or “Keynesian” or “Austrian” or “Austeritically”. And throw in all the 10-dollar words you like.

      But speak to the facts.

      • Tmajor7

        Great Facts Here Fred!

        Our monetary system and economy is actually very easy to undersand. It doesn’t even need a name. The thieves make it hard for those who have endured possibly the most debilitating institution this world may ever know, the U.S. gov’t mandated school system introduced here in the 1930′s by the Rockefellers and friends, modeled after old Prussian, Germany’s, socialist program designed to mold and control an entire nation. Some of the schools goals include: producing employees for the corporations, soldiers for the gov’t and their war corporations, professional consumers (credit preferred), and a populace incapable of thinking and forming an opinion on their own. Judging by what they’re able to do to Americans, it’s safe to say the program is flourishing to say the least!

        America hasn’t had a president that worked for The People since FDR. Since the day he died every administration since has been working hard to erase the rights he and millions of hard working Americans fought for and won! 

        Because the U.S. gov’t is a monopoly of our currency and regulate our free markets, they control our economy 100% Not wall street or selected big banks and corporations. As we know, The federal gov’t is obligated to represent We The People. Instead they believe they only work for wall street, selected banks and corporations! The only solution is for Americans to run for congress and take 100% control of our U.S. gov’t.  I don’t believe there are any other alternatives!     

  • Rburke

    “The Economic Bill of Rights”Excerpt from President Roosevelt’s January 11, 1944 message to the Congress of the United States on the State of the UnionIt is our duty now to begin to lay the plans and determine the strategy for the winning of a lasting peace and the establishment of an American standard of living higher than ever before known. We cannot be content, no matter how high that general standard of living may be, if some fraction of our people—whether it be one-third or one-fifth or one-tenth—is ill-fed, ill-clothed, ill-housed, and insecure.http://www.fdrheritage.org/bill_of_rights.htm 

  • IPR2ROI
ONPOINT
TODAY
Apr 18, 2014
Russian President Vladimir Putin speaks during a nationally televised question-and-answer session in Moscow on Thursday, April 17, 2014. President Vladimir Putin has urged an end to the blockade of Moldova’s separatist province of Trans-Dniester. Trans-Dniester, located in eastern part of Moldova on border with Ukraine, has run its own affairs without international recognition since a 1992 war. Russian troops are stationed there.  (AP)

Deadly clashes in Eastern Ukraine. A white supremacist rocks Kansas City. The Marathon bombing anniversary. And Bloomberg on guns. Our weekly news roundtable goes behind the headlines.

Apr 18, 2014
This undated photo provided by NASA on April 2, 2014 shows Saturn's moon Enceladus. The "tiger stripes" are long fractures from which water vapor jets are emitted. Scientists have uncovered a vast ocean beneath the icy surface of the moon, they announced Thursday, April 3, 2014. Italian and American researchers made the discovery using Cassini, a NASA-European spacecraft still exploring Saturn and its rings 17 years after its launch from Cape Canaveral. (AP)

Oceans in Space. The new discovery on a moon of Saturn, and the possibility of life there.

RECENT
SHOWS
Apr 17, 2014
Ultra-Orthodox Jewish men burn leavened items in final preparation for the Passover holiday in the ultra-Orthodox Jewish town of Bnei Brak, near Tel Aviv, Israel, Monday, April 14, 2014. Jews are forbidden to eat leavened foodstuffs during the Passover holiday that celebrates the biblical story of the Israelites' escape from slavery and exodus from Egypt. (AP)

In the week of Passover and anti-Semitic gunfire, we look at the history of the Jews with acclaimed historian Simon Schama. Plus, Pope Francis and the Catholic Church today.

 
Apr 17, 2014
Students cheer and wave as President Barack Obama, not pictured, exits the podium after speaking at the University at Buffalo, in Buffalo, N.Y., Thursday, Aug. 22, 2013, beginning his two day bus tour speaking about college financial aid.  (AP)

The inside dope on college financial aid. The way it really works, who gets what, and how.

On Point Blog
On Point Blog
Some Tools And Tricks For College Financial Aid
Thursday, Apr 17, 2014

Some helpful links and tools for navigating FAFSA and other college financial aid tools.

More »
Comment
 
How Boston Is Getting Ready For the 2014 Boston Marathon
Tuesday, Apr 15, 2014

Boston Globe metro reporter Maria Cramer explains how the 2014 Boston Marathon will be different than races in the past.

More »
Comment
 
WBUR’s David Boeri: ‘There’s Still Much We Don’t Know’
Tuesday, Apr 15, 2014

WBUR’s senior reporter David Boeri details the ongoing investigation into the alleged Boston Marathon Bombing perpetrators.

More »
Comment