For this weekend’s reading list, we have an article on the class divide in America, an analysis of how inefficient the U.S. health care system is, an account of how the House GOP is cutting the budget of the Securities and Exchange Commission even though such cuts will not reduce the deficit, and an argument that President Obama can ignore the debt ceiling under the “faithfully execute” provision of the Constitution.
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Greed, Excess, and America’s Gaping Class Divide – an attempt by Matt Taibbi in Rolling Stone magazine to explain how the obscenely wealthy in America have managed to avoid the class resentment that tea partiers direct at government workers, unionized employees, and others who still have health insurance, pensions, and fair wages.
America’s Inefficient Health Care System – a post explaining how rapidly skyrocketing health care spending in the U.S. has led to little increase in life expectancy even as European countries have seen smaller increases in health care spending and larger increases in life expectancy.
As a Watchdog Starves, Wall Street Is Tossed a Bone – an article about how House Republicans have proposed to cut $200 million from the budget of the Securities and Exchange Commission, even though that money would go to Wall Street rather than deficit reduction, and despite the fact that more effective SEC law enforcement often brings in revenue through penalties and fines.
The Debt Limit: Faithful Execution – Hendrik Hertzberg argues the requirement in Art. II, Sec. 3 of the Constitution for the President to faithfully execute the laws of the U.S. can provide an avenue for the President to ignore the debt ceiling limit because the spending for which debt needs to be incurred is required by law.
Cross-posted at Winning Progressive