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The Economics of Debt Ceiling, Affordable Care Act, Welfare

/ Matthew Clemente / Leave a comment

The Economics of Debt Ceiling, Affordable Care Act, Welfare

The most recent Planet Money podcast discussed the three most significant political issues of this past week—(1) the debt ceiling, (2) Affordable Care Act and (3) welfare system debates. Although discussion of the debt ceiling is somewhat dated (since we did not hit it), the story explains what is at stake in debt ceiling debates include the outcome of a possible default.

Here is a description of the podcast:

On today’s show: Three ripped-from-the-headlines stories from Planet Money.

What A U.S. Default Would Mean For Pensions, China, And Social Security

If the government defaults on its debt, people all over the world who have loaned the government money won’t get paid on time.

One Key Thing No One Knows About Obamacare

Obamacare won’t work unless healthy people buy insurance. No one knows whether they will.

Is Welfare A Rational Alternative To Work?

A new paper argues that the value of various welfare benefits add up to well over $30,000 a year. People on welfare disagree.

Looking Across the Pond to Prevent Political Gridlock

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Looking Across the Pond to Prevent Political Gridlock

After sixteen days of government shutdown and being on the brink of federal default, Congress passed, and the President signed, a bill that will re-open the government and raise the debt ceiling, preventing high stakes budgetary brinkmanship at least until 2014.  In keeping with what has become a theme this past week this story from NPR’s Story of the Day podcast and Weekend Day Edition Saturday discusses possible solution to gridlock in Washington.  The story interview’s comparative political scientists about how the American political system compares to European democracies, which generally do not find themselves deadlocked by political paralysis.  While is it unlikely that the U.S. will soon amend the Constitution to adopt a parliament, the story discusses some important differences between how elections are financed and political negotiations are conducted in Europe and the U.S.

Here is how the segment begins: 

Fareed’s Take: Gridlock and Polarization in Washington

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Fareed’s Take: Gridlock and Polarization in Washington

On the most recent episode of Fareed Zakaria GPS, Fareed devoted much of his show to the current state of political polarization and gridlock in the Nation’s capital. He began with his “take” on the problem.  He then discussed the topic with a panel comprised of Vanessa Williamson (Harvard PhD student and author of  The Tea Party and the Remaking of Republican Conservatism) , Norm Ornstein (of the conservative think tank the American Enterprise Institute) and Jeffrey Toobin (legal columnist for the New Yorker). 

Here is a link to  Williamson’s commentary on the Tea Party.

Toobin’s take on Republican radicalism and the effects of the primary system can be found here.

“Wild Justice”: A History of the Death Penalty in America

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“Wild Justice”: A History of the Death Penalty in America

Last month, NPR’s Fresh Air featured an interview with Evan Mandery, a professor at the John Jay College of Criminal Justice and a former capital defense attorney, about his new book–A Wild Justice: The Death and Resurrection of Capital Punishment in America. The interview reflected the book’s title, explaining the strange and fascinating history of the death penalty in the United States. From backroom Supreme Court deals to Mandery’s argument that the death penalty is random and lacks deterrent value, this interview is worth a listen for anyone interested in the death penalty or criminal law.

Here is the introduction to the interview:

In the mid-1970s, Arkansas’ electric chair was being used by the prison barber to cut hair, and the execution chamber in New Hampshire was being used to store vegetables. That’s because in 1972, the U.S. Supreme Court shocked the nation by striking down Georgia’s death penalty law, effectively ending executions in the United States. But the decision provoked a strong backlash among those who favored the death penalty, and within four years the high court reversed course and issued a set of rulings that would permit the resumption of executions.

Evan Mandery, a professor at the John Jay College of Criminal Justice and a former capital defense attorney, has written a new account of the tumultuous legal and political battles over the death penalty. Mandery is sympathetic to those who tried to outlaw capital punishment, but his account focuses on attorneys for both sides in the battle, as well as the views and deliberations of the justices who decided the cases. His book is called A Wild Justice: The Death and Resurrection of Capital Punishment in America.

A Wild Justice
A Wild Justice

The Death and Resurrection of Capital Punishment in America

by Evan J. Mandery

Is The Two-Party System is Making America Ungovernable?

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That was the proposition being debated on the Intelligence Squared podcast. The debate originally occurred in 2011; however, it has a particular relevance today with the government is shutdown and the debt ceiling looming.

Moderated by ABC News’ John Donvan, this debate featured David Brooks–Op-Ed columnist for the New York Times–and Arianna Huffington–Co-Founder and Editor-in-Chief of The Huffington Post, who argued for the motion; and P.J. O’Rourke–H.L. Mencken Research Fellow at the Cato Institute and Zev Chafets–Former columnist, New York City News, who argued against it.

Here is description of the debate:

The Republican and Democratic parties are entrenched in calcified partisanship, where politics is played as a zero-sum game. The rise of the Tea Party, liberal backlash, and the exodus of moderate voices from Congress all point toward the public’s growing discontent. Has our two-party system failed us? Is this a call to change our two-party system of governance?