Rubin’s economic group to chart course for Democrats

[swag]

http://news.ft.com/cms/s/fab9e1f2-c4d0-11da-b7c1-0000779e2340.html


Robert Rubin, the former Treasury secretary under President Bill Clinton and most influential Democratic economic adviser, launched an initiative on Wednesday aimed at influencing the economic policy debate and charting a course “diametrically opposed to the current policy regime”.

The Hamilton Project, named after Alexander Hamilton, the first US Treasury secretary, will focus on fiscal imbalances, such as the growing budget deficit. Its first white paper, released yesterday, warns that rising income inequality “risks a backlash that can threaten the very stability of democratic capitalism itself”.

Citing concerns about the sluggish growth in real median family income, which has grown at just 1 per cent a year since 1973, the paper argues “public policy that benefits a select few will fail to utilise the nation’s full potential...Broad-based economic growth is stronger and more sustainable”.

As Treasury secretary, Mr Rubin was a central figure in putting deficit-reduction at the heart of Mr Clinton’s economic agenda. He is joined on the advisory council by other Clinton-era appointments, Roger Altman, the former deputy Treasury secretary, and Laura D’Andrea Tyson, the former chairman of the Council of Economic Advisers.


. . .

[Demeter]

1. If He Doesn't Call for Reinstating Tax Cuts and Getting Out of Iraq

then he's just blowing smoke. If he also calls for impeaching the Supremes, then we're talking!

[dolstein]

4. This is why a liberal like me hates the left-wing

The fact is that we've got plenty of problems aside from Iraq. And the Hamilton Project will no doubt address the tax structure. I looked at the white paper on promoting retirement savings among low and middle income individuals, and it makes a lot of sense. But hey, go ahead and trash Rubin for not talking about Iraq. It's easier than thinking.

[Demeter]

10. If You Can Fix Anything In this Country Without First Leaving Iraq

then there's a whole government waiting for you to step up to the plate. The first rule of Holes: When you find yourself in one, STOP DIGGING.

[depakid]

11. You would really do well to learn some history

and some policy before bashing.

This is the same corporatist cabal that ushered in the deregulation of the banking, securities and insurance sectors, resulting in rampant corporate malfeasance and greed and the destruction of the retirement plans of millions of small investors.

Like corporate mega-mergers and oligarchy without accountability? These are your guys.

They're the same so called "Democrats" who supported deregulation of the telecommunications sector (nice job, there, eh?)

Like pharmaceutcal industry price gouging and TV advertising? Your men again.

Citigroup/ENRON, corporate accounting scandals?

NAFTA, thr WTO and offshoring? Yep- the "Hamilton Project." It's big public interest group, alright.

It ought to be ruight at the heart of the Democratic party.... provided that it wants to keep enabling the far right and losing election after election.

[UpInArms]

2. hmmm.... maybe Rubin's been reading the SMW

AnneD said it quite succinctly today:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2208985&mesg_id=2210156

People are starting to experience discomfort now. Money has been sucked away from middle class and poor. Now, one serious incident in the economy a depression or these retirement shell game come to light and you are going to see some serious fireworks that will make the Social Security reform revolt look like cap gun blast. People ARE waking up, one by one. The fact that we came so close to socialism during the Great Depression caused many a wealthy to piss their pants. With the changes in the immenant domain laws, who knows what kind of assets might be seized for the public interest-or at least taxed.

[DeepModem Mom]

3. I welcome this news. Bob Rubin could sit on a beach all day...

for the rest of his life (mega-money), and give no thought to the U.S.

[swag]

5. A kick before dying.

[K-W]

6. So the problem with the income gap is not that people are suffering,

its that it threatens the capitalist system... of course.

But I'm sure a policy project spearheaded by big business democrats named after one of the nations first elitists will come up with strategies that will help working class Americans.

[swag]

7. David Sirota, is that you?

http://www.workingforchange.com/blog/index.cfm?mode=entry&entry=6C591E17-F2AA-8D3F-8AD99C95A5B459C8

[K-W]

9. Thanks for posting the link,

I had seen his take on it earlier. He points to some important issues with this project.

I simply don's see how business as usual democratic party politics is going to serve the fate of the party, the progressives who want a voice, or the working class people whos votes are required to win elections.

[bridgit]

8. i heard an interesting piece of...information, i guess you'd call it...

it laid out the minimum wage required to sustain a democracy; even one such as the one we currently 'enjoy'. they stated that a democracy can be sustained with a wage of $8.50 per hour. it does not seem like allot. but that is all employers want to pay. at least if they can get away with it. between what they pay inland china, or wherever @ pennies on the dollar, and what they are pushing us down and into wage-wise, they are approaching their mean world average wage. delivered with a little "you're fired don't let the door hit you on the way out" sack of policies, here see current french streets for reference

any more and the oligarchy chafes seeking ever more war, war profit & diversion of social resources into their coffers by hook or crook, ever more control; any less and the proletariat rebels, causing unscheduled, unforeseeable chaos & unplanned volatility. too much suffering to have to explain.

i'd never thought of it quite that way. but that has been the trend since reagan ushered in the concept of having people 'vote with their feet', 'take control of your own destiny' (see ass/door ref above), and all the rest that has brought us to this point