Catholic Bishops Blast Debt Deal, Tea Party Extremism

John Gehring: “Written by John Carr, executive director of the Department of Justice, Peace and Human Development at the USSCB, the report is a frank assessment of a deal that asks nothing from the rich even as it puts the squeeze on those already having trouble making ends meet. “While the crisis of default was averted, for advocates of poor and vulnerable people, this debate was disappointing, ominous, and just the beginning,” Carr writes.”

Speaker Boehner’s New Proposal Could Produce Greatest Increase in Poverty and Hardship of Any Law in Modern U.S. History

Robert Greenstein: “In short, the Boehner plan would force policymakers to choose among cutting the incomes and health benefits of ordinary retirees, repealing the guts of health reform and leaving an estimated 34 million more Americans uninsured, and savaging the safety net for the poor. It would do so even as it shielded all tax breaks, including the many lucrative tax breaks for the wealthiest and most powerful individuals and corporations.”

The Bush Tax Cuts Are the Disaster that Keeps on Giving

Center for American Progress: “Ten years ago today, the first round of Bush tax cuts became law. But what if they hadn’t? What would our fiscal situation look like if history had been different in just one respect: if we’d never implemented President George W. Bush’s eponymous tax policies? The short answer is that the debate over federal debt levels would be entirely different. In that alternate world, total debt as a share of GDP would be under 50 percent this year—instead of pushing 70 percent—and it would be expected to stay under 60 percent for the rest of the decade.  That’s well below the levels causing such great consternation in Washington.”