GOLDMAN SACHS CEO LLOYD BLANKFEIN (WHO WAS PAID $16.1 MILLION IN 2011) SAID IN AN INTERVIEW WITH CBS THAT TAXES MUST INCREASE ON THE WEALTHY AMERICANS BUT CITIZENS MUST ALSO ADJUST THEIR EXPECTATIONS ON SOCIAL PROGRAMS "BECAUSE WE CAN'T AFFORD THEM." BUT TO THE CONTRARY, ECONOMIST BILL BLACK SAYS THAT, AS WAS THE CASE IN THE WAKE OF WW2, THE U.S. GOVERNMENT CAN SAFELY RUN MUCH BIGGER DEBTS THAN IT PRESENTLY FACES BY SIMPLY PRINTING MORE DOLLARS. THUS, THE "FISCAL CLIFF" IS A GIMICK DEVISED BY THE RICH TO MILK STILL MORE CASH FROM THE INCREASINGLY IMPOVERISHED 90%.

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November 28, 2012

Who's Getting Pushed Off the "Fiscal Cliff"?

Progressive Democrats lobby against a "Grand Bargain" that will further unravel the social safety net