Robert Reich

Why BP Isn’t a Criminal

The Justice Department just entered into the largest criminal settlement in U.S. history with BP. The oil giant pleaded guilty to 14 criminal counts, including manslaughter, and agreed to pay $4 billion over the next five years. This is loony.

Posted on Nov 16, 2012

Avoiding the ‘Fiscal Cliff’: ‘Broadening the Tax Base’ vs. Raising Taxes on the Rich

The president says he wants $1.6 trillion in tax hikes. Republicans say they won’t raise tax rates but might be willing to close some loopholes and limit some deductions and tax credits. Is compromise in the air?

Posted on Nov 14, 2012

The President’s Opening Bid on a Grand Bargain (II): Put a Trigger Mechanism in the Legislation

When he meets with congressional leaders to begin discussions about avoiding the “fiscal cliff,” Obama should make clear that America faces two big economic challenges ahead: getting the economy back on track and getting the budget deficit under control.

Posted on Nov 13, 2012

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The President’s Opening Bid on a Grand Bargain: Aim High

Assuming the goal is $4 trillion of deficit reduction over the next decade (that’s the consensus of the Simpson-Bowles commission, the Congressional Budget Office, and most independent analysts), here’s what the President should propose.

Posted on Nov 12, 2012

The Next Game of Economic Chicken: Taxing the Rich

The game of chicken isn’t about how much or when we cut the budget deficit. Or even whether the upcoming “fiscal cliff” poses a danger to the economy.

Posted on Nov 10, 2012

Boehner May Have More Leverage Over Tea Partiers in Congress

Tea partiers may be more amenable to an agreement now that the electorate has signaled it doesn’t especially like what the tea party has been up to.

Posted on Nov 8, 2012