For all the caterwauling from the right, and stupifyingly from the Obama Administration and Blue Dog left as well, the real reason the United States has the sizable deficit issues it does is due in large part to the fact corporations like GE make billions in profit and pay no taxes.

I spent much of the day yesterday pointing out how stupid it was for Obama to put outsourcer, China nut, and TBTF bankster Jeff Immelt in charge of his Council on Jobs and Competitiveness. Meanwhile, Paul Krugman and Robert Reich have been focusing on Obama’s frame for the problem as “competitiveness.” In his piece, Krugman [...]