Former chief economist to Vice President Joe Biden, Jared Bernstein claims Republicans are hypocrites about the federal budget deficit, pretending to care when the Democrats hold power, shrugging it off when Republicans pass tax cuts for the wealthy. The truth is Republican elites haven’t cared about the deficit for decades, Democrats would do well to do the same and stop claiming to be the Party that “really cares” about the deficit. That politically attractive pose is not simply dishonest and financially illiterate, it is also a trap.
The Greek bailouts were a banking crisis in disguise. In an excerpt of her upcoming book, editor-in-chief, Claire Connelly, explores how Greece took the fall for decades of irresponsible lending by French and German banks. If Greece continues to participate in the European Union, democracy is doomed.