With increasing signs that the economy is laboring, most economists agree that a short-term infusion of spending, or an extension of this year's temporary cut in Social Security taxes, could help fend off a new downturn.
But whatever one thinks of the debt deal—and most of its billions in cuts won't come for a few years—there's a near-consensus in Washington against spending increases.
Today's New York Times has an
excellent article about how a Maine homeowner - and her volunteer
lawyer, working with Pine Tree Legal Assistance - have exposed the
latest round of bank misdeeds: uninformed, and possibly fraudulent, filings of foreclosure proceedings in courts in Maine and all over the country.
If you want to know how this mess has developed, read this story.
As usual, former NY Press editor and current AlterNet contributor Alex Zaitchik has weighed in on a topic like no one else has (at least that I know of). This time it's about what a joke this financial crisis is to those of us who don't own a damn thing and who see this so-called economic meltdown as little more than an excuse to stop paying bills.