News Release Archive | deficit | Accuracy.Org

Left-Right Coalition Urges $380 Billion in Cuts to “Polluting Technologies”

McClatchy reports that “the bipartisan ‘super-committee’ of six Democrats and six Republicans has a goal of finding at least $1.5 trillion more in deficit reduction by Thanksgiving … will hold its first meeting on Sept. 8 [Thursday].”

A coalition of organizations from both sides of the political spectrum recently released Green Scissors 2011, a report urging in $380 billion in cuts to what it sees as environmentally and economically harmful government spending. The group presents the cuts as a way to “protect our natural resources, reduce the growth of government spending, and make a significant dent in the national debt by eliminating harmful spending.”

See the full report at: GreenScissors.com

TYSON SLOCUM, TSlocum at citizen.org
Slocum is the director of the energy program at Public CItizen, a consumer watchdog group that contributed to the report. He said today: “At a time when working families are expected to belt-tighten, so too must wasteful public investments in mature, polluting technologies. For too long lobbyists kept these undeserving programs and tax preferences for the fossil fuel and nuclear industry funded.”

ELI LEHRER, elehrer at heartland.org
Lehrer is the vice president of the Heartland Institute, a think tank promoting limited government that also contributed to the report. He said today: “The Green Scissors report documents the breadth and depth of damage that government spending does to our environment. Cutting government in the right places can make for a cleaner, healthier environment.”

* Medicare * Real Deficit “Courage”

STEFFIE WOOLHANDLER, M.D., MARGARET FLOWERS, M.D.
Woolhandler, a professor of public health at CUNY and visiting professor of medicine at Harvard Medical School, is a co-founder of Physicians for a National Health Program. She said today: “Congressman Ryan promises to save money by ending Medicare and instead giving seniors a voucher to pay for private insurance. But this scheme only saves money by leaving seniors to pay a larger and larger share of the premiums out of their own pockets — something few can afford. This unraveling of Medicare would return us to the bad old days before Medicare when most seniors couldn’t get the care they needed. And his plan for Medicaid mirrors this turn-the-clock-back approach. As in the 1950s, he’d give states limited block grants to care for the poor — grants that weren’t (and won’t be) tied to the actual cost of that care. If his plan is implemented, thousands will die; seniors unable to afford the miracles of modern medicine, and the poor denied even the most basic level of care.” Flowers is a congressional fellow at PNHP and recently wrote the piece “Ryan turns knife on Medicare, Medicaid.”

THOMAS FERGUSON
Ferguson is professor of political science at the University of Massachusetts, Boston and a senior fellow of the Roosevelt Institute. He said today: “As we await the President’s plan for the deficit and the next round of the Congressional follies on the debt ceiling, we had all better remind ourselves of a few basic facts. Firstly, in America’s polarized money-driven political system, the politicians who just voted a two year extension of the Bush tax cuts for the super rich aren’t showing ‘courage’ when they try to gut Medicare and Medicaid and deprive Americans of access to basic health care — they are just rewarding contributors. Real courage would lead Congress and the President to change the law to allow the the government to bargain with Big Pharma over drug prices and enforce anti-trust laws on hospital chains, testing laboratories, and medical practices that are forming ‘networks’ with even more market power. Secondly, no matter how many politicians and experts claim the opposite, it’s obvious from the last Trustees’ Report that Social Security is not going broke and doesn’t need fixing for decades, if ever.

“If you are seriously concerned with the deficit, it cannot make sense to repeat the errors of the Great Depression and keep chopping government expenditures at a moment when states are cutting back and banks and corporations are still trying to dig themselves out of past debts. But cheer up — there is a silver lining: With polls showing that even many Tea Party members want Social Security left alone, there is hope that lawmakers who respond to money and blankly ignore the will of the people will get exactly what they deserve in the 2012 elections.”

Recent interviews with Ferguson: huffingtonpost.com and video on The Real News

Recent papers by Ferguson: “A World Upside Down? Deficit Fantasies in the Great Recession

“Legislators Never Bowl Alone: Big Money, Mass Media, and the Polarization of Congress” [PDF]

For more information, contact at the Institute for Public Accuracy:
Sam Husseini, (202) 347-0020; or David Zupan, (541) 484-9167

“Deficit Fears Irrational, Cuts Will Impede Recovery”

JAMES K. GALBRAITH, THEA HARVEY
Chair of Economists for Peace and Security, Galbraith (available for a limited number of interviews) is Lloyd M. Bentsen Jr. chair in government/business relations at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin. His latest book is The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too. Harvey is executive director of Economists for Peace and Security.

MICHAEL INTRILIGATOR
Intriligator is a professor of economics, political science and public policy at UCLA. He is also a senior fellow of the Milken Institute in Santa Monica and at the Gorbachev Foundation of North America in Boston. (He is unavailable Wednesday morning.) He is one of the signatories to a statement distributed by Economists for Peace and Security, which states in part:”The budget cuts being proposed will impede and may end the recovery. If the recovery fails, unemployment will increase and the financial crisis could re-emerge. The premise that the U.S. government is broke is false. The U.S. government has never defaulted and will not default on any of its financial obligations. Deficit spending is normal for a great industrial nation with a managed currency, and it has been our normal economic condition throughout the past century. History proves, and sensible economic theory confirms, that in recessions, increased federal spending — not balancing the budget — is the tried and true way to return to a path of sustained growth and high employment.

“Eliminating waste in government spending is desirable. But that is not what the House proposes; indeed the House budget failed to address the largest waste in federal government, namely in the military, and the House failed to remove our most egregious subsidies, such as to oil companies. To adopt a policy of deep budget cuts at this stage of recovery is to surrender to irrational fears in the service of a political, not an economic, agenda.” PDF of full statement with list of signatories

For more information, contact at the Institute for Public Accuracy:
Sam Husseini, (202) 347-0020; or David Zupan, (541) 484-9167