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02-28-2011, 10:02 PM   #1
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Economists Warn of 'Irrational Fears' of the Deficit and Stymied Recovery

Economists Warn of 'Irrational Fears' of the Deficit and Stymied Recovery

From the letter:

QuoteQuote:
The premise that the US government is broke is false. The US government has never defaulted and will not default on any of its financial obligations. Deficit spending is normal for a great industrial nation with a managed currency, and it has been our normal economic condition throughout the past century. History proves, and sensible economic theory confirms, that in recessions, increased federal spending -- not balancing the budget -- is the tried and true way to return to a path of sustained growth and high employment.

Eliminating waste in government spending is desirable. But that is not what the House proposes; indeed the House budget failed to address the largest waste in federal government, namely in the military, and the House failed to remove our most egregious subsidies, such as to oil companies. To adopt a policy of deep budget cuts at this stage of recovery is to surrender to irrational fears in the service of a political, not an economic, agenda.
Shouting in the dark, of course, since the GOP is not interested in recovery, but in seeing Obama fail (as they readily admit.) Frankly, this is treason, pure and simple...

02-28-2011, 10:35 PM - 1 Like   #2
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QuoteOriginally posted by skyredoubt Quote
Economists Warn of 'Irrational Fears' of the Deficit and Stymied Recovery

From the letter:



Shouting in the dark, of course, since the GOP is not interested in recovery, but in seeing Obama fail (as they readily admit.) Frankly, this is treason, pure and simple...
I agree with you. I find the state of this country to be alarming. 42,000 factories have been closed down in the last decade. We don't make anything anymore. States are continuing to lay off people to meet budgets. We are continuing to pay huge amounts for 2 foreign wars that we cannot afford. I'd feel better if there was some sanity in our government. But most republicans and too many democrats are working for K street lobbyists. Our national policy never makes much sense since its primarily designed to make various corporations happy.

Wake up Americans, join a party and ask the tough questions of your politicians. Demonstrate in the streets. etc.

In my part of the country, i don't see any new stores, just more closings. Few houses being sold. No jobs. people begging on off ramps. How is that an economic recovery?
03-01-2011, 05:58 AM   #3
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QuoteOriginally posted by skyredoubt Quote
Economists Warn of 'Irrational Fears' of the Deficit and Stymied Recovery

From the letter:


Frankly, this is treason, pure and simple...
Apparently "treason" is reserved for anything non-financial...........
Once money is involved it is the "american way" no matter how dirty.......
Frankly, this is treason, pure and simple...
03-01-2011, 07:55 AM   #4
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QuoteOriginally posted by philbaum Quote
............. We are continuing to pay huge amounts for 2 foreign wars that we cannot afford. ...........
Make that 3 wars. There are three U.S. ships, including the Enterprise headed for Libya right now.

03-01-2011, 10:02 AM   #5
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QuoteOriginally posted by Parallax Quote
Make that 3 wars. There are three U.S. ships, including the Enterprise headed for Libya right now.
That is really scary!
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