On the recordSeptember 19, 2013
there is a lot of concern all over this country about what is going on in Washington in terms of the possibility that the United States, for the first time in its history, may not pay its debts and what that means to the American economy, what it means to the world economy, and what it means to the international financial system. There is a great deal of concern about the possibility that on October 1, the U.S. Government may shut down because we have some rightwing extremists in the House who want to, among other things, abolish legislation passed 4 years ago--the Affordable Care Act--and throw something else in there. Before I get to those issues, I wish to speak about the reality of what is going on in the economy today. What I want to do is something that is not done often enough, and that is to ask where some of our rightwing colleagues are really coming from. What are their goals? Fine, they want to shut down the government on October 1. OK, so they don't want to, for the first time in the history of America, pay our bills. But what else do they want? What is this rightwing ideology which has taken over the House? That is an issue that we do not talk about as much as we should. I wish to begin my discussion by looking at the reality of what is going on in the American economy and why people are so angry and frustrated that the government is not responding to their needs--and they have every reason to be angry.…





