In Defense of the 30-Year Mortgage In Defense of the 30-Year Mortgage
A recent New York Times column argued that the long term fixed-rate loan popular with US homebuyers is unfair to banks. In fact the arrangement—a fruit of the New Deal—is somethin...
Nov 23, 2023 / James K. Galbraith
Next Time, Dammit, Just Default Next Time, Dammit, Just Default
Democrats feared a monster called “default”—but it’s just another Washington scare story.
Jun 9, 2023 / Editorial / James K. Galbraith for The Nation
The Debt Deal Is a Tragedy The Debt Deal Is a Tragedy
The debt-limit agreement entrenches long-term austerity. It was a huge GOP win.
May 30, 2023 / James K. Galbraith
More “Dangerous Nonsense” From “The New York Times” on the Debt Ceiling More “Dangerous Nonsense” From “The New York Times” on the Debt Ceiling
There are multiple legal pathways to resolve the current debt “crisis.” Having the president and House speaker agree on spending cuts to programs already approved by Congress is no...
May 18, 2023 / James K. Galbraith
The Debt Ceiling Drama Is All Stagecraft The Debt Ceiling Drama Is All Stagecraft
Remember: The US Treasury is obligated to make payments. The rest is optics.
May 11, 2023 / Editorial / James K. Galbraith for The Nation
What Elizabeth Warren, Larry Summers, and Paul Krugman All Got Wrong About SVB What Elizabeth Warren, Larry Summers, and Paul Krugman All Got Wrong About SVB
It’s a war for the dollar—and the big banks. The rest of us better hold on tight.
Mar 21, 2023 / Editorial / James K. Galbraith for The Nation
The Debt Ceiling Explained. Once More, With Feeling… The Debt Ceiling Explained. Once More, With Feeling…
What The New York Times doesn’t know might hit you in the wallet.
Jan 19, 2023 / James K. Galbraith
How the Left Should Think About Inflation How the Left Should Think About Inflation
There is no compelling reason to raise interest rates, now or later.
Feb 18, 2022 / Editorial / James K. Galbraith for The Nation
The Democratic Party Platform Needs a Pandemic Plank The Democratic Party Platform Needs a Pandemic Plank
The Biden-Sanders Unity Task Force presumes that the economy will recover as the virus recedes and the world returns to normal. This presumption is wrong at every level.
Jul 29, 2020 / Emma Galbraith and James K. Galbraith
The Mobilization That Must Start Now The Mobilization That Must Start Now
With the coronavirus bearing down on our economy, we must deploy all our resources now to survive—so that one day we may thrive.
Mar 18, 2020 / Feature / James K. Galbraith