August 6, 2011

A Wee Fiscal Timeline

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Steve Benen has a timeline for us today. I’m just going to steal the second half:

September 2010: In Obama’s first fiscal year, the deficit shrinks by $122 billion. Republicans again condemn Obama’s fiscal irresponsibility.

October 2010: S&P endorses the nation’s AAA rating with a stable outlook, saying the United States looks to be in solid fiscal shape for the foreseeable future.

November 2010: Republicans win a U.S. House majority, citing the need for fiscal responsibility.

December 2010: Congressional Republicans demand extension of Bush tax cuts, relying entirely on deficit financing. GOP continues to accuse Obama of fiscal irresponsibility.

March 2011: Congressional Republicans declare intention to hold full faith and credit of the United States hostage — a move without precedent in American history — until massive debt-reduction plan is approved.

July 2011: Obama offers Republicans a $4 trillion debt-reduction deal. GOP refuses, pushes debt-ceiling standoff until the last possible day, rattling international markets.

August 2011: S&P downgrades U.S. debt, citing GOP refusal to consider new revenues. Republicans rejoice and blame Obama for fiscal irresponsibility. 

Congratulations, modern Republican Party! That was spectacularly fast work. The Bush-era party needed seven years to drive the economy into a ditch.

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From the desk of Mother Jones CEO, Monika Bauerlein...

Newsrooms can be funded in many ways. One of the most controversial (and volatile) ways is by a for-profit corporation or a billionaire owner. We see it across the headlines on a weekly basis: the claw backs in public media, the gutting of The Washington Post, the bending over backwards to appeal to Trump and his allies.

But not here.

When Mother Jones first started publishing 50 years ago, our founders made a critical decision: to be a reader-supported nonprofit. They knew that no corporate owner would be interested in a muckraking newsroom; they also knew that no muckraking newsroom would be interested in following the agenda of a corporate owner.

And so, we’ve been reader-funded for half a century. We rely on contributions from our readers—readers like you—whether it’s $50, or $15 a month, or whatever fits your budget. People give what they can, and every donation makes a difference for our newsroom, which has grown tremendously—in size and reach and renown—since its inception in 1976.

You may be wondering: What does it take to publish an investigation? And what does my donation actually fund? The answers are one and the same: It takes people, resources, and time. And that’s what your donation funds directly.

Every donation Mother Jones receives from readers fortifies our newsroom, whether we’re covering underreported scandals out of Washington, DC, or the most important news of the day. And right now, each donation will be doubled because of our $50,000 match. So when you make a donation—$5, $50, any amount—it’ll go twice as far.

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