Is Defaulting on the National Debt on the Table?

Dean Baker, Truthout: "In an interview last week, Rep. Chris Van Hoellen, the chairman of the Democratic Congressional Campaign Committee, persistently refused to take cuts to Social Security off the table. He said that President Obama's deficit commission would make its report after the election and that the Democratic leadership could not say before seeing it that a plan that includes cuts to Social Security was unacceptable. If there is some principle at stake here, it is not one that the vast majority of the America people share. Social Security is a hugely popular and successful program. The vast majority of retirees depend on Social Security for the bulk of their income."


Worse than Europe

John Stossel's Take
by John Stossel


Union protesters, angry over government spending cuts, shut down transportation in France and England today. … Non-socialist parties now control both the French and the UK governments, and they seem to be getting serious about budget deficits. … The ironic thing is that the US government is in a worse financial situation than those countries, but it spends more than ever...

Informant: Thomas L. Knapp

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