Jeffrey Sachs of Columbia University Discusses Federal Budget Deal

DemocracyNow.org -
President Barack Obama and congressional leaders reached a last-minute budget deal on Friday, narrowly averting a government shutdown. The deal would cut roughly $38 billion from a federal budget expected to exceed $3.7 trillion this year. Democracy Now! speaks to Jeffrey Sachs, director of The Earth Institute at Columbia University.

"Many of of us who supported President Obama just feel that he has abandoned the field," Sachs says. "He has left it to the right-wing, which wants nothing more than taxes cut for the rich, whereas the American public is saying very clearly in every opinion survey that if you want to close the deficit go after taxes for the rich, raise them, cut military spending, cut the excess profits in the insurance industry and healthcare. Do things that would really make a difference—don't punish the poor."

For the video/audio podcast, transcript, to sign up for the daily news digest, and for additional reports on the budget debate, visit http://www.democracynow.org/2011/4/11/dont_punish_the_poor_economist_jeffrey

FOLLOW US:
Facebook: http://www.facebook.com/democracynow
Twitter: @democracynow

Please consider supporting independent media by making a donation to Democracy Now! today, visit http://www.democracynow.org/donate/YT

Category:

News & Politics

Tags:

• democracy now
• democracynow
• amy goodman
• Jeffrey
• Sachs
• federal
• budget
• cuts
• obama
• gop
• austerity

[gdhaliwal06]

@bulldogger He has realized that the emperical evidence does not correspond to the ideological, neoliberal view of economics and the world.

Believe me, I used to be a friedmanite--a free market zealot. But I've come to see the flaws in that thinking. While I still believe in a market-based economy, private property, and economic freedom, I also believe in pragmatic government intervention in the economy to accelerate growth, limit recessions, and achieve some degree of equity.

[PolishAmericanDC]

Jeffrey Sachs change now. Back in the 1992 he did destroyed economy of Poland back in the 1992 to follow Milton Friedman

[PolishAmericanDC]

Jeffrey Sachs change now. Back in the 1992 he did destroyed economy of Poland

[beta447]

"A miserable step in the wrong direction." --- Tattoo this on the white house lawn.

[WilhelmDrake]

Sachs is a disgusting opportunist. He should not be listened to, he should be shunned.

There are good economists out there (Hudson, Keen, Mitchell, Wray, Baker, etc), Sachs is not one of them.

[UncleDaddysAbusedBoy]

Obama's proven it. Voting doesn't work. Revolution on the streets is the only political action worth while.

[akkonburike]

Globalization, neoliberalism. Climate change, Peak oil, Peak everything (limits of growth). The building 'climax' between China and the USA (these 'bottle-necks' are one big challenge -- Sachs HAS to know this). So, this one-in-a-generation challenge is supposed to be a unwinnable because Obama is (according to Sachs) 'lacking leadership skills'?! Then just buy Obama the best speech writer! Hire a Hollywood actor as 'leader' of the world!

[akkonburike]

Sachs, Krugman and Stigliz are the economist who stepped down on the 'anti-globalization' movement (we said no 2 nafta, no 2 neoliberalism and no 2 sweatshops -- the glory days from the protests of Seattle). But 'the three yanks' are even more dangerous as (delusional) apologists in chief: They tell progressives like Amy half-truths; Paint reactionary newspapers in different colors (Krugman); Or slipped thru (most dangerously so) as credible academic (Stigliz).

[akkonburike]

What is Jeffrey Sachs doing on Democracy Now?

[bulldogger]

Is this the same Jeffrey Sachs -- neoliberal shock therapist -- from Naomi Klein's book? If so, what's behind the dramatic shift in his thinking?