90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
Simon Johnson on Debt and Deficit

We’re looking at American debt and deficit and how to really, responsibly, bring it down, with economist Simon Johnson.

House Budget Committee Chairman Rep. Paul Ryan, R-Wis., holds up a copy of his budget plan entitled "The Path to Prosperity," Tuesday, March 20, 2012, during a news conference on Capitol Hill in Washington. (AP)

House Budget Committee Chairman Rep. Paul Ryan, R-Wis., holds up a copy of his budget plan entitled "The Path to Prosperity," Tuesday, March 20, 2012, during a news conference on Capitol Hill in Washington. (AP)

In the War of 1812, two hundred years ago this year, the young United States went out into the world without its finances in order – and got its White House burned down.

Flash forward two centuries.  The US debt and deficit are huge.  President Obama is talking up the Buffet rule this week, to get the rich to pitch in more.  Republican Paul Ryan wants to take an axe to the federal budget, and tax rates.

Former chief economist to the IMF Simon Johnson says both fall short.  It is high time for the US to get real, he says.

This hour, On Point:  how to really, responsibly, bring down the US debt.

-Tom Ashbrook

Guest

Simon Johnson, professor of entrepreneurship and economics at the M.I.T. Sloan School of Management.  Co-author with James Kwak of “White House Burning: The Founding Fathers, Our National Debt, and Why it Matters To You.” He blogs at The Baseline Scenario.

 From Tom’s Reading List

USA Today Ever since George Washington became the first president of the United States, politicians, economists, bankers, philosophers and citizens without titles have been arguing about the deficit and the national debt. The issue has been whether the nation should avoid deficit spending, engage in deficit spending and, if engaging, how much national debt is too much.

Economix Blog  There are two competing narratives about the federal government budget in the political mainstream today. The first is that we are, or soon will be, in crisis, because of runaway government spending. To avoid this crisis, we should cut spending by a great deal and as soon as possible.

The Huffington Post I have enormous respect for Simon Johnson. I first recall seeing him one late evening on a Bill Moyers segment in the middle of the financial crisis. I couldn’t quite believe that the former chief economist of the International Monetary Fund was complaining about the oligarchs in the financial industry using their control of the U.S. government to bail out their bankrupt banks.

Excerpt: “White House Burning”

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

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
Oct 22, 2014
Health workers carry the body of a woman suspected of contracting the Ebola virus in Bomi county situated on the outskirts of Monrovia, Liberia, Monday, Oct. 20, 2014. (AP)

We’ll go to Liberia, and hear from a pastor and a physician at the epicenter of the Ebola crisis.

Oct 22, 2014
Authors Nicholas Kristof and wife Sheryl WuDunn attend the premiere of "Meena" at the AMC Loews Theater on Thursday, June 26, 2014 in New York.

Author and New York Times columnist Nicholas Kristof says regular folks like us can change the world. He explains how.

RECENT
SHOWS
Oct 21, 2014
This undated image provided by Google, shows an early version of Google's prototype self-driving car. For the first time, California's Department of Motor Vehicles knows how many self-driving cars are traveling on the state's public roads. The agency is issuing permits, Tuesday, Sept. 16, 2014 that let three companies test 29 vehicles on highways and in neighborhoods. (AP)

The future of the car: from the fuels they’ll run on, to the materials they’ll be made of, to the computers that may drive them.

 
Oct 21, 2014
David Perdue, Michelle Nunn

Two weeks to go till Midterm Election Day. We’ll look at how the biggest issues are playing out around the country.

On Point Blog
On Point Blog
Introducing The Explicast: A New Podcast From On Point Radio
Friday, Oct 17, 2014

Confused about the news? Don’t worry: so are we sometimes! Introducing a new On Point Radio podcast: The Explicast. You can find Episode One right here.

More »
1 Comment
 
Two LIVE Tracks From Jazz Violinist Regina Carter
Friday, Oct 17, 2014

Regina Carter shares two live tracks — one arrangement, and one original composition — with Tom Ashbrook in the On Point studio.

More »
Comment
 
Our Week In The Web: October 17, 2014
Friday, Oct 17, 2014

We talk Facebook mishaps, whether Katy Perry was actually right and the glory of architectural giants and their iconic windows.

More »
Comment