Democrats and Republcans Share Equal Blame for the Economic Crisis

Hat tip to Naked Capitalism for the link to The Animal Spirit, and to Emmanuel Saez for the chart.

I've posted this chart because provides a useful point of reference to an interesting debate between two progressive economists,  Paul Krugman and William Greider.

The issue is whether the economic crisis we are facing right now should be laid at the doorstep of Ronald Regan who signed into law the deregulation of the Thrifts (ie the Savings & Loanl banks) as Krugman says, or whether in fact deregulation has been a bi-partisan policy beginning when Jimmy Carter was president and continuing under Bill Clinton.

It is not a moot point of merely historical interest. We can lay  Barack Obama's failure so far, to take on the banks and major financial institutions effectively is traceable to his reliance on the same team of advisors whom Bill Clinton relied upon, a team put into place by Rubin.

Nick Benton's Corner: Will Limbaugh Sink the GOP?

Posted with permission of Nicholas Benton, Owner/Editor of the Falls Church News Press

Will Limbaugh Sink the GOP?

by Nicholas Benton

There is a reason why Rush Limbaugh never made it on TV. CNN was eager to carry this talk show host's incendiary remarks at last weekend's right-wing CPAC convention in Washington, and its cameras revealed a sweaty, larded buffoon costumed in a black shirt, wide-eyed and flailing his flabby arms looking like a panicked great whale trying to free himself from a fisherman's net.

Is this the new de facto leader of the Republican Party, capable of getting its top leaders to grovel before him in obscene displays of self-flagellating brown-nosing because they'd inadvertently spoken from their hearts to denounce him?

Limbaugh is the creation not only of the Reagan revolution - that arch-right wing coup by the "radical free market" charlatans of greed, hoarding, deceit and fraud - but also of that revolution's torpedoing of the Fairness Doctrine.

The Fairness Doctrine was the creation of the reformist mood in the nation following Watergate. It was originally instituted in 1949, but considered strictly a voluntary agreement that those licensed to use the nation's airwaves would make an effort to be fair and balanced (I mean, really, not in the phony Fox News way!) in political comment. Then in 1974, after Watergate, the rules were stiffened with the idea that mandatory constraints and use of penalties might better encourage fair play.

Bush Cannot Be Allowed to Get Away With What He's Done to America

Promoted by GreyHawk. Originally posted 2009-01-19 17:02:53 -0500.


Bush Cannot Be Allowed to Get Away With What He's Done to America

I'm in total agreement with Obama's sentiment that it's time for America to heal itself and move forward, but I certainly hope he's not so fixated on that sentiment that he allows the Bush/Cheney gang to get away with the damage that they've done to America.

Of course, there are those who are going to insist that we have so many challenges before us that we can't be distracted by engaging in vengeance, but this is not a matter of vengeance, it's a simple matter of governmental housekeeping.

Just as it is necessary to refurbish and restore our national monuments from time to time, it is even more important that our American ideals be maintained in pristine condition. Thus, by allowing the Bush/Cheney administration to get away with what they've done to those ideals, and the damage they've done to America's image around the world, allowing them to walk away with impunity would be the moral equivalent of allowing them to leave graffiti behind on the Statue of Liberty.

What's This About Reagan Being a Great American President

I am still watching Blitz most nights. I have compromised with my stomach by remoting Dobbs. First thing to note is how the media is still fanning the flames of race by constantly rehashing the Clinton/Obama rhetoric on the subject. I have let it drift by while preparing the evening meal, but I was truly stunned when Obama weighed in on how Bill Clinton, when he was president, didn't match up to Reagan's accomplishments. What did we have here?