Two from Truthout:

Paul Krugman | Wishful Thinking Won't Balance Out Trade Deficit
Paul Krugman, Krugman & Co.: "The argument that the United States and China are on their way to soon reducing, or even eliminating, the trade gap between them has caused quite a stir in both the media and the blogosphere. The discussion was sparked by a paper that Martin Feldstein, an economist at Harvard, presented earlier this month at the annual meeting of the American Economic Association. He explained that since consumers in the United States are starting to save more, and Chinese consumers possibly starting to save less, underlying trade imbalances could vanish. 'It is not hard to imagine that a few years from now the current account imbalances of the U.S. and China will be very much smaller than they are today or even totally gone,' he wrote."
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Cow Most Sacred: Why Military Spending Remains Untouchable
Andrew J. Bacevich, TomDispatch: "In defense circles, 'cutting' the Pentagon budget has once again become a topic of conversation. Americans should not confuse that talk with reality. Any cuts exacted will at most reduce the rate of growth. The essential facts remain: US military outlays today equal that of every other nation on the planet combined, a situation without precedent in modern history."
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