American Public Media

Maya MacGuineas on American Public Media's Marketplace | "Managing a National Debt Addiction"

Communications — Tue, 20 May 2008 14:26:00 -0400

New America in the News:

While congressional negotiators build a federal budget for 2009, a group of bipartisan budget experts are launching a campaign to wean the government off what they call a debt addiction. John Dimsdale reports.

RENITA JABLONSKI: In Washington today, House and Senate negotiators will try to sketch out a federal budget for 2009. At the same time, across town, a group of bipartisan budget experts will launch a campaign to wean the government from what they say is a debt addiction. John Dimsdale reports.

JOHN DIMSDALE: Ever spend money you haven't got? The Committee for a Responsible Federal Budget says the government does it all the time. Today, the nonprofit group issues a 12-step program to help politicians deal with their addiction to spending money the government doesn't have. Maya MacGuineas is the group's president. She says politicians are to blame for deepening deficits -- but they aren't the only ones.

MAYA MACGUINEAS: We also have to ask voters to pay attention to these issues and not be kind of hoodwinked that you can have it all. Nobody really believes that we can have big tax cuts, new spending initiatives, and somehow we're not going to have to pay the price sooner or later.

The bipartisan committee's political stars include former Treasury Secretary Lawrence Summers and former Fed Chief Paul Volcker. They're asking the presidential candidates to make "living within our means" a priority. That includes fixing Social Security and health care, paying for any new spending, and using honest numbers.

Listen to this story on Marketplace's website: http://marketplace.publicradio.org/display/web/2008/05/20/us_debt_addiction.

Barry Lynn on Marketplace Applauds Europe's Antitrust Stand

Communications — Tue, 16 Oct 2007 09:12:00 -0400

New America in the News:

KAI RYSSDAL: As Congress weighs electronic surveillance, the Europeans have been taking aim at another slice of the American high-tech pie: Last month, the European Commission won a landmark case against Microsoft. The commission charged the company with maintaining a monopoly on computer operating systems and media players. Commentator Barry Lynn says Washington ought to think like the Europeans if it's serious about technological innovation.

Barry Lynn: Monopoly is good for innovation -- it says so in the Constitution. Even before giving Congress the right to declare war, the Founders gave it the right to declare monopoly, in order "to promote the progress of science and useful arts." Monopoly is bad for innovation -- that's also in the Constitution, which says monopolies should exist for "limited times" only. It doesn't take a fancy degree to understand what the Founders were thinking: Monopoly spurs innovation by guaranteeing inventors big profits. But monopoly must one day end, to open the way for new inventors.

Ever since Ronald Reagan, Americans have forgotten how this system works. Rather than use our government to help new ideas rise, we let old monopolies use their vast powers to keep new ideas down. In recent years, a robust debate has erupted over the length and strength of patents and copyrights. Yet almost no one in America talks of the vital role that antitrust law plays in promoting innovation.

Not so in Europe: Since August, antitrust officials there have launched formal cases against Intel, Qualcomm and Rambus. They also won a big case against Microsoft. Not surprisingly, these American firms are not happy. They say Europe's officials are misusing antitrust law to protect sclerotic old businesses. Don't believe them. What Europe's governments are protecting is the interest of European consumers. Bill Gates has no right to collect an immense private tax every time anyone anywhere buys a new computer. Europe's governments are also protecting the ability of innovators to bring new and better ideas to market. In today's integrated world, this is good for Americans too. ...

To listen to Bary Lynn's commentary that aired on "Marketplace," please follow this link. Barry Lynn is a Senior Fellow at New America Foundation.

Marketplace Interviews Ray Boshara on Kids' Savings

Communications — Wed, 03 Oct 2007 04:17:00 -0400

New America in the News:

Scott Jagow: A bill being introduced in Congress this morning might breathe new life into an old idea: Savings accounts for children…

Sarah Gardner: The idea is simple: give every American newborn $500 in a tax-free savings account. At age 18, kids can use it for college -- or they can sock it away until later for a first home or retirement.

Supporter Ray Boshara at the New America Foundation says more than a third of children grow up in households without investments.

Ray Boshara: If we don't endow these kids with assets at birth, I think their opportunities for a better life are diminished. So-called "baby bonds" have high-profile support. Hillary Clinton recently proposed giving everyone $5,000 at birth…

To listen to the interview with Ray Boshara, please visit Marketplace's website, or download the attached MP3 file below.

Ray Boshara is director of New America's Asset Building Program. For more information on child savings accounts, please visit www.aspireact.org.