Group items tagged

When Joe Homeowner bought too much house, essentially betting that home prices would go up, and losing his bet when they dropped, he was an irresponsible putz who shouldn't whine about being put on the street. But when banks bet billions on a firm like AIG that was heavily invested in mortgages, they were making the same bet that Joe Homeowner made, leaving themselves hugely exposed to a sudden drop in home prices. But instead of being asked to "suck it in and cope" when that bet failed, the banks instead went straight to Washington for a bailout -- and got it.

"Engelhardt's new book, "The American Way of War," explores the U.S.'s jaw-dropping transformation into a global military empire. "

The IOM's 1999 landmark report, "To Err is Human," dropped the first bombshell, reporting that between 44,000 and 98,000 Americans die in hospitals each year from medical mistakes, costing an estimated $17 billion to $29 billion annually. HHS' new finding that medical mistakes kill 15,000 Medicare patients a month equates to 180,000 Medicare deaths per year - more than the IOM's estimate, which attempted to cover all patients in the United States. That means that the annual death toll in this country caused by mistakes in hospitals is well over 250,000 deaths a year! But perhaps the most startling finding by HHS is that a significant number of patients suffered injuries or died needlessly, as 44 percent of the medical errors were preventable.

‎"Six countries that Barack H. Obama has waged waragainst in his 26 months in office. (To anyone who disputes that dropping bombs on a populated land is an act of war, I would ask what they think of the Japanese bombing of Pearl Harbor.) America'sfirst black president now invades Africa. Is there anyone left who still thinks that Barack Obama is some kind of improvement over George W. Bush?"

It's important, yes, and must be addressed. But by a wide margin, it's not the nation's most pressing economic problem. That would be the widespread and persistent joblessness that has plagued the labor market since the Great Recession began in 2008. Almost 14 million people - 9.1 percent of the labor force - were officially counted as unemployed last month. But that's just the tip of the iceberg. There were almost 9 million part-time workers who wanted, but couldn't find, full-time jobs; 28 million in jobs they would have quit under normal conditions; and an additional 2.2 million who wanted work but couldn't find any and dropped out of the labor force. If the economy could generate jobs at the median wage for even half of these people, national income would grow by more than 10 times the total interest cost of the 2011 deficit (which was less than $40 billion). So anyone who says that reducing the deficit is more urgent than reducing unemployment is saying, in effect, that we should burn hundreds of billions of dollars worth of goods and services in a national bonfire. We ought to be tackling both problems at once. But in today's fractious political climate, many promising dual-purpose remedies - like infrastructure investments that would generate large and rapid returns - are called unthinkable, in the false belief that they would impoverish our grandchildren. Yet there are other ways to attack unemployment that could garner bipartisan support. Perhaps the most promising is a payroll tax holiday.

Over the past 10 years, more than 20,000 American children are believed to have been killed in their own homes by family members. That is nearly four times the number of US soldiers killed in Iraq and Afghanistan. The child maltreatment death rate in the US is triple Canada's and 11 times that of Italy. Millions of children are reported as abused and neglected every year. Why is that? ... In looking at key indicators of well-being, children from Texas are twice as likely to drop out of high school as children from Vermont. They are four times more likely to be uninsured, four times more likely to be incarcerated, and nearly twice as likely to die from abuse and neglect.

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.