Reich's Supercapitalism

The first chapter of Robert Reich's new book, Supercapitalism, is available to read at alternet.org now. In it, Reich makes some challenging points. His thesis is that the new deregulated, global economy benefits consumers at the expense of workers. With Wal-Mart as his primary example, he lists many of the products whose prices have been significantly reduced by technology, regulatory retrenchment, and presumably deunionization or the lack or unionization in new industries. Better jobs may mean higher prices.

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The President's Priorities: Neither National nor Fiscally Responsible

Sure, he talks a big game about "fiscal responsibility," but it's more a rhetorical tick than any sort of commitment to adequately funding national priorities. This week is emblematic of the president's bankrupt talking point.

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Webb-McCaskill Contracting Commission Passes!

Good news- the Webb-McCaskill Wartime Contracting Commission amendment passed the Senate last night, too! Here's the press release. It got unanimous approval. However, according to the Richmond Times-Dispatch, the amendment was water down to get approval. Most importantly, the commission wouldn't have subpoena power under this draft. Now it's on to the House. Rep. John Tierney (D-MA) has introduced a bill that set up a commission, too.

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Cost Accounting for a "Korea-like Presence"

The American people made their views on ending the war in Iraq abundantly clear on Nov. 7, 2006, firing the president's party's congressional majority. Later that week, President Bush proposed a "surge" of 20,000 additional American soldiers to be deployed in Iraq. Today, a majority in Congress supports withdrawal of almost all American military forces in the next year, two years, whenever is most immediately practicable. Now, President Bush is preparing us for the possibility of a permanant presence in Iraq.

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Round-Up: Senate Votes on CR, SCHIP, Debt Limit

Continuing Resolution Adopted: By 94-1, the Senate voted late yesterday to keep the government operating through Nov. 16, adopting an FY 2008 continuing resolution (CR) which will fund government programs at fiscal 2007 levels. The CR keeps funds flowing to federal programs whose authorizations lapse Sept. 30, including food stamps, the Federal Aviation Administration and the State Children's Health Insurance Program. As we noted, House passed the CR on Wednesday, 404-14. Debt Limit Increased:

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Another Doosy by David Brooks

David Brooks has a lyrical but vague and pretty misleading column about the entitlement crisis today, and in a feat of rhetorical flexibility connects it to SCHIP. Two problems: as Dean Baker says, the bottom line of the entitlement crisis is health care inefficiency. There is no legitimate centrist "share the sacrifice" position, and it has nothing to do with Social Security. Even CBO director and former Hamilton Project leader Peter Orszag agrees with Baker on the cause of the problem!

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College Loan Bill Enacted

The President has signed the College Cost Reduction and Access Act of 2007 (summary)! The act gradually raises the maximum Pell Grant, which helps low-income students pay for college, to $5,400 by 2012, from $4,050 in 2006. And it cuts interest rates in half for subsidized college loans over the next five years. The nearly $20 billion in new funding is all paid for without tax increases, because the bill cracks down on excessive subsidies to the student loan industry.

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Rally for Children's Health

The Center for American Progress Action Fund and Service Employees International Union will be marching and rallying in Washington, DC on Monday to protest the president's expected veto of expanded SCHIP funding.

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SCHIP Gets Cloture

The SCHIP expansion just got cloture (meaning it can't be filibustered and will get an up or down vote) on 69-30 vote (roll call). That's a veto proof majority! The vote on passage should be coming up shortly. Plus, get this (emph. mine): However, Democrats -- and their Republican allies on the issue -- made clear Bush's veto will not be the last word on the measure. They said they will keep coming back to the bill every six weeks to three months until either the White House relents or Republican opposition collapses.

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Privatization: Is It All About Accountability?

Prof. Ellen Danin has an interesting paper arguing that much of the debate about privatization is really about accountability, in one form or another. Here's the abstract:

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