It’s Almost Time to Boost the Economy. Almost.

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Ben Bernanke told Congress today that the long-term deficit is indeed a problem, but it’s a problem for the long term. The best way to address it is to combine future budget tightening with present-day budget loosening, which will boost the economy and produce lower deficits in future years:

Bernanke raised concerns that a sharp, immediate push to reduce the deficit could harm the recovery in the upcoming months. In January 2013, he pointed out, the Bush tax cuts will expire, and the major spending reductions triggered by the Budget Control Act will take effect, absent any further action by Congress. As a result, “there will be sharp change in fiscal stance of the federal government. Without compensating action, it would indeed slow the recovery,” Bernanke told the committee members.

However, Sen. Pete Sessions (R-Ala.), the highest-ranking Republican on the committee, pressed Bernanke to answer whether the country’s current deficit was itself holding back the recovery and discouraging key market players. “They’re not reacting to the current level of debt. What they’re attentive to is the process,” Bernanke said, pointing to the political dysfunction that led to the Standard & Poor’s downgrade of the US credit rating last year.

Roger that. But it’s still a little too early, I think. If Congress takes action right now, it risks having an effect this year, thus helping President Obama. Better to wait until summer, when a sudden conversion to Keynesian pump priming will be timed perfectly to help the economy in early 2013, when a Republican might inhabit the Oval Office. Timing is everything in politics, after all.

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Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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