Critics of the program claim that its future is in peril. But their math doesn't add up, and underneath their hostility is ignorance of the realities of life for many Americans.
The world is not, however, out of the woods if you read Peter Nolan's superb book, "Crossroads: The End of Wild Capitalism and the Future of Humanity." Nolan's thesis is that unrestrained capitalism, its extremes and its contradictions, have put China, the United States and the world of Islam on a collision course that gives the world "the choice of no choice." Either these three models of culture and capitalism will find constructive engagement, or the world as we know it is in extreme peril - either from economic instability and social reaction, military conflict, or environmental destruction, or all of the above.
A well thought through article on why the BBC should let racist far-right BNP leader Griffin speak on Question Time. Not sure where I stand on this yet though.
Call it the austerity death trap.
Under these circumstances, the harder a country works to cut its debt, the worse the ratio becomes - because the economy shrinks even faster.
Greece is already in the trap. Spain and Italy are perilously close. Even Britain, France, and Germany are tip-toeing up to it. And now us.
Deficit hawks have to understand: The first step must be to revive growth and jobs. That way, revenues increase and the debt/GDP ratio drops. Only then - when the economy is back on track - do you start cutting.