WWH's blog

Good story in the NYTimes today on the budget clash and priorities: http://www.nytimes.com/2012/05/19/us/politics/obama-and-gop-stake-out-po...

I have posted videos of four answers from the PC/CDD forum held on May 5, 2012. (Sorry, no text on these.)

My response to a request to characterize the differences between my primary opponent Katherine McGovern's positions and my positions.

It is clear what is needed to jump-start the economy and move us toward full employment on a near-term basis: a substantial federal stimulus investing in education, infrastructure, and research. All are long term investments which justify borrowing, particularly at our current, historically low rates.

Paul Krugman's column yesterday Easy Useless Economics, makes the point today that we know what to do, but lack the political will to do so.

Excellent post again by Simon Johnson today regarding the losses and situation at JPMorgan Chase: JP Morgan Debacle Reveals Fatal Flaw In Federal Reserve Thinking.

Good post by Simon Johnson today, explaining why the Ryan budget is a "you're on your own" budget, diametrically opposed to the principle that government is there for us to work together to solve problems we can't solve on our own: http://baselinescenario.com/2012/05/03/mitt-romney-and-paul-ryans-budget...

Paul Krugman wrote an excellent piece this morning: http://www.nytimes.com/2012/04/30/opinion/krugman-wasting-our-minds.html...

We must invest in the future, instead of consuming now. I have made several proposals along this line related to education: http://www.walterhofheinz.org/issues#education

The video may be found at http://youtu.be/wi8RlyK6elw

We live in a time of great challenges:

• First: A contest between those who believe government should be used to enrich themselves at the expense of the rest of us, as is reflected in the Ryan budget proposal adopted by the House and supported by Pete Sessions, that sacrifices Medicaid, Medicare, higher education, and key elements of the social safety net to provide even more tax breaks for the very wealthy, and those who believe, as I do, that government is the way we work together to enhance opportunity for all who want to work hard, play by the rules, and succeed; to provide a safety net for those cannot provide for themselves; and to ensure the blessings of liberty for us and those who come after us;
• Second: The challenge of balancing the needs and opportunities of the present and future, young and old. Will we use our resources to create a more prosperous future, or will we consume more now? Will we pay our own bills, or will we burden our children with debts incurred to pay our bills?
• Third: A decision about the scope of government and how we will pay for it.

For the video: http://youtu.be/L6mn8ZODp5o

Two good articles in one day!

I believe in the use of government to create opportunity, both now and in the future. To do that, we need to pay our bills, not shift them to future generations. How? As I discuss in my tax policy statement, broaden the base, and increase rates progressively. What I propose is necessary to pay the bills; a second goal is to lessen extremes in inequality so most Americans better off, and we as a society prosper.

Great piece by Charles Blow this morning: Focus, People!.

"Like kittens chasing a spot of light on the floor, the public and the press are jumping about with excitement and outrage over ancillary issues....

It is about the size and function of government in our lives — whether we value social safety nets or social Darwinism.