[jeffkrol]

First, get angry at Obama for doing what he long has told you he would do: Cut benefits to the middle and lower classes, and camouflage this with a puny tax rate increase on the wealthy (which they won’t even notice, scarcely will pay, and in any event, will do you no good whatsoever).

But after you’re finished blaming Obama, blame yourselves for believing the BIG LIE that makes these cuts possible — the BIG LIE that federal deficits must be reduced.

You didn’t even try to understand Monetary Sovereignty, a simple statement of the fact that the federal government never can run short of dollars.

You didn’t even try to understand why, far from being too high, federal deficits have been way too low. You didn’t even try to understand why federal finances are different from personal finances and local government finances. You didn’t even try to understand why taking money out of the economy, via tax increases or spending cuts, causes recessions — always, always, always.

You didn’t contact your Senator and Representatives, demanding that they tell the truth about federal finances, rather than lying about deficits and debt. You didn’t write a letter every day, to Obama, demanding that he too tell the truth. You didn’t contact all those media types who speak and write the BIG LIE.


Worthy addendum;
“Nearly 50 million people are in poverty in America, 12 million unemployed, millions more underemployed. On January 2, millions stand to lose unemployment benefits. Fourteen million Americans' mortgages are greater than the value of their homes. On the horizon loom massive cuts to essential services. Will the American austerity replace the American Dream? We need to turn back from the fiscal cliff with wealth creation, education, job creation, infrastructure rebuilding, monetary reform, trade reform, and protection of Social Security and Medicare. We need a great economic revival, not another Great Depression”, Kucinich said (source: Congressional Record www.gpo.gov/fdsys/pkg/CREC-2012-11-27/pdf/CREC-2012-11-27.pdf ).
In short, you didn’t even try to save yourself. Instead, you allowed yourself to be brainwashed. Instead, you chose to mock those who tried to help you understand.
Rather than learning, you smugly made ignorant comments about how we would become the Wiemar Republic or Zimbabwe if deficits grew. You rejected all the facts, and calmly allowed the BIG LIE to penetrate your skull.
And now, your chickens, as they say, are coming home to roost. Your chickens, your children’s chickens. Your grandchildren’s chickens.
Your Medicare will be cut. Your Social Security will be cut. Aid to the poor will be cut. Medical research & development: Cut. Infrastructure maintenance. Cut. Food and drug oversight: Cut. Financial regulation: Cut.

Those thousands of federal services that not only benefit the lower 99% income group, but help reduce unemployment and grow the economy; Cut, because you fell for the nonsense about the government being “too big” and the deficit being “unsustainable” and how people should be “self-sufficient,” and deficits cause hyperinflation, and those who accept government help turn into “sloths.”

–All you suckers need to know about Barack Obama

Worthy addendum:

“Nearly 50 million people are in poverty in America, 12 million unemployed, millions more underemployed. On January 2, millions stand to lose unemployment benefits. Fourteen million Americans' mortgages are greater than the value of their homes. On the horizon loom massive cuts to essential services. Will the American austerity replace the American Dream? We need to turn back from the fiscal cliff with wealth creation, education, job creation, infrastructure rebuilding, monetary reform, trade reform, and protection of Social Security and Medicare. We need a great economic revival, not another Great Depression”, Kucinich said

(source: Congressional Record www.gpo.gov/fdsys/pkg/CREC-2012-11-27/pdf/CREC-2012-11-27.pdf ).

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Last edited by jeffkrol; 11-30-2012 at 09:36 AM.

[Rondec]

–All you suckers need to know about Barack Obama

Worthy addendumsource: Congressional Record www.gpo.gov/fdsys/pkg/CREC-2012-11-27/pdf/CREC-2012-11-27.pdf ).

From my perspective, recessions are caused by bubbles bursting. Irrational exuberance in one area of the market produces an over heated market in that area -- tech companies, real estate, whatever, which eventually implodes. Government spending may be able to cushion some of the effects of the bubble bursting, government regulation may be able to prevent some of the bubble formation, but it certainly doesn't cause recessions by taxing more heavily or cutting spending.

[jeffkrol]

From my perspective, recessions are caused by bubbles bursting. Irrational exuberance in one area of the market produces an over heated market in that area -- tech companies, real estate, whatever, which eventually implodes. Government spending may be able to cushion some of the effects of the bubble bursting, government regulation may be able to prevent some of the bubble formation, but it certainly doesn't cause recessions by taxing more heavily or cutting spending.

Yes yes it does...see England.. which followed that program to a tea...............

corollary...

At the risk of reading the tea leaves too closely, I think Mr. Ferguson’s article needs to be read in conjunction with comments made by The Standard’s editor William Kristol on “Fox News Sunday” on Nov. 11. Said Mr. Kristol: “You know what? It won’t kill the country if we raise taxes a little bit on millionaires. It really won’t, I don’t think.”

Mr. Kristol is not a fool and can read the polls as easily as I can; he knows Republicans are holding a losing hand on taxes. A Nov. 14 Gallup poll shows the percentage of Americans favoring a spending-cuts-only approach to the deficit has fallen in half, to 10 percent from 20 percent last year; the percentage willing to accept higher taxes to reduce the deficit has risen to 86 percent from 73 percent.

Taxes are going to rise; that is no longer in doubt. The question for Republicans is what can they get in return. Starve-the-beast is dead.

http://economix.blogs.nytimes.com/2012/11/20/the-new-republican-tax-policy/