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November 25, 2009

Deficit Shmeficit, Part 2

Paul Krugman:

There’s something disturbingly familiar about the current deficit hysteria. There’s the way that fear, and a demand for action against a supposed threat, has spread despite the lack of any solid evidence to support it. [...]

And I suddenly realized what it is: it’s like the runup to the Iraq war, when all the serious people knew that Saddam was working on nukes and invasion was the only option, and anyone who pointed out that there was no evidence to that effect was a flake.

Here's what's equally as insane. The same people who are complaining about the deficit are also concerned about unemployment. But you can't fight unemployment by cutting spending, nor can the economy recover if there's a focus on deficit reduction. This would be like wanting to invade Iraq while also wanting to reduce the size of the military.


Filed under: Economy || GDP || Paul Krugman || Recession || Stimulus

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Posted By Bob Cesca | November 25, 2009 9:54 AM

Comments

Unfortunately that logic never stopped them....Exhibit A: Cutting taxes during a time of war.......

Posted by: Irish Girl [TypeKey Profile Page] at November 25, 2009 11:09 AM

HAHA Bob...

...they DID invade Iraq while also reducing the size of the military.

Thats the reason we have so many contractors now. This was mostly Rumsfeld's idea, but Cheney gave him a nudge so that KBR could rake in the cash money.

Posted by: J M Ashby [TypeKey Profile Page] at November 25, 2009 11:16 AM

JM Ashby is correct.

Posted by: Wolfe_Tone [TypeKey Profile Page] at November 25, 2009 11:20 AM

Thats exactly what they did. By gutting the pentagon, they rerouted government funds into the hands of private contractors for way-more the cost. That's how we ended up with the trillion dollar deficit at the end of Bush's tenure. Now they are so worried about spending money. When the tax-cut was made for the wealthiest Americans, it was an intentional move to starve out public programs and towards privatizing everything we need and hiking up the price of everything from electricity to internet use to drugs. All these things that are invented by the government then sold and taken over by corporations. Sorry. I woke up this morning very upset by the damage done to this Nation in the name of profits.

Posted by: danann [TypeKey Profile Page] at November 25, 2009 11:34 AM

Ya know what's really crazy?! Liberals, Progressives and TeaBaggers (leaving out those like Cheney that stoke TeaBaggers but really isn't one, he's what I call a "Republican Robber Baron").....they all agree that this sucks....the disagreement comes from who each group believes is responsible and thus should face our ire.

Posted by: Irish Girl [TypeKey Profile Page] at November 25, 2009 11:48 AM

And the Liberals and Progressives contributed to this..how?

Posted by: danann [TypeKey Profile Page] at November 25, 2009 3:37 PM

danann

are you actually saying that the government invents stuff and sells it to private industry?

Posted by: Political Party Pooper [TypeKey Profile Page] at November 25, 2009 6:45 PM

It's difficult for some people to grasp the fact that 30 years of conservative policies have left us no choice but to either push a red button and implement John McCain's "national spending freeze"-- guaranteeing a great depression and the going-out-of-business dismantling of government safety nets-- or inject 1.5 trillion dollars into the system to stave off cartoonish banking failures(failures in conservative philosophy and practice, mind you), long neglected infrastructure and environmental degradation, as well as the misappropriated wars and trillion dollar tax cuts for the wealthy.

This fiscal and ideological crippling of the national economy have been brought about by years of dominating conservative republican party principles.

Less than a whole year into this inherited shit and blood mop-job, and we're still dealing with the consequences of Republican philosophy? That's it! Obama's a failure! Impeach him and let's elect Sarah Palin and Mitt Romney right now!-- Two scoops of Douche.

If the "rugged individualism" of the private sector is always the Holy answer to jobs problems and self-inflicted economic woes, why is it failing to respond accordingly? The government seems to be doing all the heavy lifting. What the fuck, Private Sector?!

This is a valuable lesson. The private sector, if left to its own devices, will fail.

Don't depend on the private sector to do anything not in its own self-interest. They'll shed jobs. They'll move operations overseas. They'll destroy the environment. Exploit weaknesses in culture and government. The big players in the monopolistic capitalist system will do nothing to prevent foreclosure of America. That's just opportunity for them.

The Private Sector will not come for you when you're trapped on a rooftop, or rummaging through dumpters for food and shelter. They will not comfort you in your golden years by making sure you have some minimal protections and dignity. They will not stop dumping industrial sludge into our lakes, rivers, soil, and air. They do not care about your rights or your democracy.

The United States government is the last line of defense between the people and these powerful forces for self-interest.

P.S.: A couple trillion dollars is practically chump change in today's global economy. We're entering the age of quadrillions. China should remember that they wouldn't have an economy if not for our friendly tariffs and access to our mass market. A few years of good governance and budgeting will pay them off.

Posted by: MrBrink [TypeKey Profile Page] at November 25, 2009 11:30 PM



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