Required reading for Blue Dogs
It's one thing to have personal beliefs, but it's another thing entirely to use those personal beliefs as a foundation for public policy. The conservative beliefs of Blue Dogs when it comes to deficit spending, for example, are grounded in conventional wisdom which doesn't hold up under scrutiny. Paul Krugman lays it out. Conservative representatives like Kissell and Shuler would do well to embrace fact-based decision-making, and stop relying on Republican mythology to defend their votes.
Deficit hawks like to complain that today’s young people will end up having to pay higher taxes to service the debt we’re running up right now. But anyone who really cared about the prospects of young Americans would be pushing for much more job creation, since the burden of high unemployment falls disproportionately on young workers — and those who enter the work force in years of high unemployment suffer permanent career damage, never catching up with those who graduated in better times.
Even the claim that we’ll have to pay for stimulus spending now with higher taxes later is mostly wrong. Spending more on recovery will lead to a stronger economy, both now and in the future — and a stronger economy means more government revenue. Stimulus spending probably doesn’t pay for itself, but its true cost, even in a narrow fiscal sense, is only a fraction of the headline number.
Tagged:
BlueNC is dedicated to making North Carolina a more progressive and prosperous state. If your intention is to disrupt this effort, please find somewhere else to express your opinions.
Like?
Comments
Krugman should be required reading for everyone
n/t
***************************
Vote Democratic, the ass you save may be your own.
How amusing...
Democrats are usually the "chicken littles" regarding deficits...but only if those deficits are created by tax cuts. If the deficits are caused by government spending, then it's good.
I refer to deficits caused by tax cuts as "good deficits" because they are temporary and release capital into the economy which ultimately increases revenues.
Most on this forum lack even a rudimentary knowledge of economics. Government does not create wealth...it consumes it. When it does this, it reduces the amount of capital available for business to expand, buy new equipment and HIRE employees.
There is not an infinite supply of money. Did you know there is only $100 billion in gold at Ft. Knox? Kinda scary when we're throwing that TRILLION number around.
Politicians invest for political, not financial returns.
Quit asking government to solve your problems and you will be a happier, wealthier, more self-empowered individual.
***************************************************************************************
"I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose
Speak for your arrogant self
James
PS I assume you understand that that amount of gold at Fort Knox has almost nothing whatsoever to do with anything regarding economics in the United States. You knew that, right?
Gold just an example
Since the value of our dollar was once backed by it. I was shocked at the disparity between gold reserves vs. money supply.
I said "most"...not all, and since I know a fair share of people on the left, I stand by that assertion. "Most" are also very poor business people. Facts are troublesome things sometimes.
***************************************************************************************
"I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose
"Most" are also very poor business people?
Yeah, not like the Wall Street wankers who drove the country headlong into the ground with their self serving greed and stupidity.
Facts are truly troubling sometimes.
Progressives are the true conservatives.
Nice of you to visit, Barry....
And thanks for sharing your views on our knowledge of economics. I'm surprised you consider yourself an expert since your daddy made it possible for you not to have worry much about your own finances, and 30 years in the Senate playing with other people's monies isn't much to toot your own horn over. Say, how's your old pal Joe McCarthy doing? Pretty warm I bet. Seems like before you'd come along with your wisdom you'd consult with your hero Hevert Hoober, er, Herbert Hoover since he presided over the greatest economic debacle in our history...maybe. (We'll see I suppose.)
Whaddya mean there isn't an infinite supply of money? The printing presses run out of ink? By the way, why do you think the Fed is suppressing publication of the M3? And, perhaps you could give us some insight on the perceived difference in GDP created by government spending versus private sector spending? You know, explain it so us commoners could understand. We'll be waiting.
And, what does Fort Knox have to do with anything? Are you still thinking our currency is backed by something other than promises? How long HAVE you been dead?
To my knowledge...the only government help most of us want is for the government to do it's job and to quit playing footsie with lobbyists and ideologues like yourself.
Stan Bozarth
I don't think we'll hear any more from Barry
He wrote me offline that he doesn't want to get into a debate on the public part of this forum.
I know, it makes no sense.
Anyway, he also suggested a wager that would pit his lifelong history of charitable giving against the amount of taxes I've paid over the past 40 years. That's a bet I'd gladly take, though I don't expect him to put his money where his mouth is. Even Barry can't be that dumb.
Awww...shucks. I was just warming up and all such....
Whatssa matter Barry? Somebody step on your delicate ego? Don't wanna play anymore? Gonna take your marbles and go home? Good riddance.
Stan Bozarth
Still here, Stan
My ego's just fine. I don't advocate the rape and plunder of other peoples money, so I sleep just fine. Just don't find it very constructive to j/o on blogs all day like libs do.
***************************************************************************************
"I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose
Very funny
"Just don't find it very constructive to j/o on blogs all day like libs do," he said, writing at 2:58 in the afternoon on a blog where his chances of making a positive difference are essentially zero.
Who knew you were a comedian!
Seriously, I'm just playing here. Your assaults are having the boomerang effect of bringing out the best in me.
Bet I can be nicer than you can.
;)
GDP created by Govt spending...
=mental masturbation.
Why do Dems have a problem with conservatives carrying on a family business? Guess it's because they want to steal it and redistribute. My "Daddy" didn't "give" me a damned thing except good common sense on how to handle a dollar.
I like your take on the printing presses running out of ink...most Dems think that's the way it works. Just print some more if ya run out!
I answered the Ft. Knox question in a previous post..just an interesting and disturbing observation. Did you know we only have $100 billion? Seems a mere pittance to me.
With regard to M3, gee, I guess that's just a big ole right-wing conspiracy there, Stan. I don't believe in having a Fed at all. I'm a monetarist.
***************************************************************************************
"I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose
"Barry"
You came here to insult people you don't know, to present yourself as more knowledgeable and capable than people you don't know, to spout ideology without solutions, and so on...all while hiding behind your keyboard and suggesting that you really don't have time to "j/o" on this blog. My guess is if there was a "j/o" contest you'd come in first, second, and third simply listening to your own voice/thoughts. You come across as a preening, egotistical bigot obsessed with masturbation and money. Small wonder you won't use your real name.
Someone once said those who fail to examine their own faults are missing a valuable free lesson. Take a hint.
Stan Bozarth