The Confirmed Insanity of Austerity

[Wyatt earp]

With interest rates so low, it's insanity not to build infrastructure.

It's insanity for several reasons not to build infrastructure. Wingnuts have done nothing to help Obama create jobs. The House voted 37 times to repeal Obamacare - but not once on Obama's jobs bill (American Jobs Act).

The American Jobs Act - President Barack Obama's Jobs Plan

Repaeling obama care is about saving jobs, no problem on rebuilding the infrastrucure can we get rid of the EPA? you do know it takes years to plan something right?

 

[Claudette]

Those of us who live within our means would have no problem with austerity.

Of course those depending on our taxdollars to live would have a problem if that money ever dried up.

I also see nothing wrong with a Govt that lives within its means. Hell. Everyone should have no problem with that.

The Govt is a fat bloated pig that needs trimming big time.

 

[Lakhota]

Austerity To Cost U.S. Economy 2 Million Jobs By 2019: Study

 

[Political Junky]

With interest rates so low, it's insanity not to build infrastructure.

It's insanity for several reasons not to build infrastructure. Wingnuts have done nothing to help Obama create jobs. The House voted 37 times to repeal Obamacare - but not once on Obama's jobs bill (American Jobs Act).

The American Jobs Act - President Barack Obama's Jobs Plan

Repaeling obama care is about saving jobs, no problem on rebuilding the infrastrucure can we get rid of the EPA? you do know it takes years to plan something right?

Nixon thought up the EPA and signed the executive order.

 

[blackhawk]

The left really seems to hate austerity and spending cuts yet the irony in this the main reason for austerity is massive government spending with the left being the driving force behind government spending you create the very need for the thing you hate you should really take some time and think about that though we all know you wont.

 

[Political Junky]

The left really seems to hate austerity and spending cuts yet the irony in this the main reason for austerity is massive government spending with the left being the driving force behind government spending you create the very need for the thing you hate you should really take some time and think about that though we all know you wont.

Which republican president last cut the budget?

 

[Lakhota]

The bad metaphor — which you’ve surely heard many times — equates the debt problems of a national economy with the debt problems of an individual family. A family that has run up too much debt, the story goes, must tighten its belt. So if Britain, as a whole, has run up too much debt — which it has, although it’s mostly private rather than public debt — shouldn’t it do the same? What’s wrong with this comparison?

The answer is that an economy is not like an indebted family. Our debt is mostly money we owe to each other; even more important, our income mostly comes from selling things to each other. Your spending is my income, and my spending is your income.

So what happens if everyone simultaneously slashes spending in an attempt to pay down debt? The answer is that everyone’s income falls — my income falls because you’re spending less, and your income falls because I’m spending less. And, as our incomes plunge, our debt problem gets worse, not better.

This isn’t a new insight. The great American economist Irving Fisher explained it all the way back in 1933, summarizing what he called “debt deflation” with the pithy slogan “the more the debtors pay, the more they owe.” Recent events, above all the austerity death spiral in Europe, have dramatically illustrated the truth of Fisher’s insight.

And there’s a clear moral to this story: When the private sector is frantically trying to pay down debt, the public sector should do the opposite, spending when the private sector can’t or won’t. By all means, let’s balance our budget once the economy has recovered — but not now. The boom, not the slump, is the right time for austerity.

More: The Austerity Agenda - The New York Times

Bump

 

[blackhawk]

The left really seems to hate austerity and spending cuts yet the irony in this the main reason for austerity is massive government spending with the left being the driving force behind government spending you create the very need for the thing you hate you should really take some time and think about that though we all know you wont.

Which republican president last cut the budget?

Which party opposes spending cuts at every turn?

 

[Lakhota]

The left really seems to hate austerity and spending cuts yet the irony in this the main reason for austerity is massive government spending with the left being the driving force behind government spending you create the very need for the thing you hate you should really take some time and think about that though we all know you wont.

Which republican president last cut the budget?

Which party opposes spending cuts at every turn?

The right wants to starve the beast, as they call it - except for defense. They want to destroy the social safety nets.

 

[Political Junky]

The left really seems to hate austerity and spending cuts yet the irony in this the main reason for austerity is massive government spending with the left being the driving force behind government spending you create the very need for the thing you hate you should really take some time and think about that though we all know you wont.

Which republican president last cut the budget?

Which party opposes spending cuts at every turn?

Nice dodge.

 

[tinydancer]

It's insanity for several reasons not to build infrastructure. Wingnuts have done nothing to help Obama create jobs. The House voted 37 times to repeal Obamacare - but not once on Obama's jobs bill (American Jobs Act).

The American Jobs Act - President Barack Obama's Jobs Plan

Repaeling obama care is about saving jobs, no problem on rebuilding the infrastrucure can we get rid of the EPA? you do know it takes years to plan something right?

Nixon thought up the EPA and signed the executive order.

So? I highly doubt he ever believed the EPA would ever become the bloated warthog of bureaucratic power that it is now and full of unelected power trippers that pass rules and regulations wantonly.

 

[Lakhota]

The End Of Austerity Mania On Capitol Hill?

Congress, the White House, and maybe even the country at large have come a long way since House Minority Leader Nancy Pelosi (D-CA) — of all people — told reporters, “It’s clear we must enter an era of austerity. To reduce the deficit through shared sacrifice.”

More: Can Democrats Use The Discrediting Of Austerity To Win The Budget Fight? | TPMDC

Possibly the dumbest thing Nancy Pelosi ever said.