This GOP Economy- Austerity and Paralysis is ruinous...

Discussion in 'Economy' started by francoHFW, Jun 4, 2012.

  1. francoHFW
    Online

    francoHFW Platinum Member

    Joined:
    Sep 5, 2011
    Messages:
    33,419
    Thanks Received:
    2,173
    Trophy Points:
    1,115
    Location:
    NY 26th FINALLY DEM!
    Ratings:
    +5,588
    By the well know communist LOL...

    This Republican Economy
    By PAUL KRUGMAN
    Published: June 3, 2012 921 Comments

    What should be done about the economy? Republicans claim to have the answer: slash spending and cut taxes. What they hope voters won’t notice is that that’s precisely the policy we’ve been following the past couple of years. Never mind the Democrat in the White House; for all practical purposes, this is already the economic policy of Republican dreams.

    So the Republican electoral strategy is, in effect, a gigantic con game: it depends on convincing voters that the bad economy is the result of big-spending policies that President Obama hasn’t followed (in large part because the G.O.P. wouldn’t let him), and that our woes can be cured by pursuing more of the same policies that have already failed.

    For some reason, however, neither the press nor Mr. Obama’s political team has done a very good job of exposing the con.

    What do I mean by saying that this is already a Republican economy? Look first at total government spending — federal, state and local. Adjusted for population growth and inflation, such spending has recently been falling at a rate not seen since the demobilization that followed the Korean War.

    How is that possible? Isn’t Mr. Obama a big spender? Actually, no; there was a brief burst of spending in late 2009 and early 2010 as the stimulus kicked in, but that boost is long behind us. Since then it has been all downhill. Cash-strapped state and local governments have laid off teachers, firefighters and police officers; meanwhile, unemployment benefits have been trailing off even though unemployment remains extremely high.

    Over all, the picture for America in 2012 bears a stunning resemblance to the great mistake of 1937, when F.D.R. prematurely slashed spending, sending the U.S. economy — which had actually been recovering fairly fast until that point — into the second leg of the Great Depression. In F.D.R.’s case, however, this was an unforced error, since he had a solidly Democratic Congress. In President Obama’s case, much though not all of the responsibility for the policy wrong turn lies with a completely obstructionist Republican majority in the House.

    That same obstructionist House majority effectively blackmailed the president into continuing all the Bush tax cuts for the wealthy, so that federal taxes as a share of G.D.P. are near historic lows — much lower, in particular, than at any point during Ronald Reagan’s presidency.

    As I said, for all practical purposes this is already a Republican economy.

    As an aside, I think it’s worth pointing out that although the economy’s performance has been disappointing, to say the least, none of the disasters Republicans predicted have come to pass. Remember all those assertions that budget deficits would lead to soaring interest rates? Well, U.S. borrowing costs have just hit a record low. And remember those dire warnings about inflation and the “debasement” of the dollar? Well, inflation remains low, and the dollar has been stronger than it was in the Bush years.

    http://www.nytimes.com/2012/06/04/opinion/krugman-this-republican-economy.html?_r=1&ref=todayspaper

    The amount of Pub BS fantasy IS a disgrace....

    Should Pubs be rewarded for putting us in this mess (WORLD DEPRESSION and dumbazz wars, huge growth of AlQaeda), and now paralyzing the gov't since 2/2010 (and they even lie about THAT)?

    "No compromise, un-American Tea Party GOP" (TIME).

    Why in the world do you vote for these disastrous, lying incompetents?

    5 months to strike the evil empire, and educate their dupes...
     
    Last edited: Jun 4, 2012
  2. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,174
    Thanks Received:
    14,905
    Trophy Points:
    2,210
    Ratings:
    +36,915
    The USA slashed spending recently?

    Really?
     
  3. Claudette
    Offline

    Claudette Gold Member

    Joined:
    Nov 3, 2009
    Messages:
    19,558
    Thanks Received:
    3,009
    Trophy Points:
    280
    Ratings:
    +7,628
    Jesus. When did that happen??
     
  4. Wiseacre
    Offline

    Wiseacre Retired USAF Chief Supporting Member

    Joined:
    Apr 8, 2011
    Messages:
    6,025
    Thanks Received:
    1,192
    Trophy Points:
    48
    Location:
    San Antonio, TX
    Ratings:
    +1,194
    Wasn't it Obama's idea to cut the payroll tax?
     
  5. DiamondDave
    Offline

    DiamondDave Army Vet

    Joined:
    Jun 30, 2008
    Messages:
    18,169
    Thanks Received:
    2,812
    Trophy Points:
    183
    Location:
    MD, on the Potomac River
    Ratings:
    +2,816
    Opinion piece by a person who personally labels himself as a liberal... defending (or even making up shit in support of) Obama....

    Say it ain't so :rolleyes:
     
  6. Claudette
    Offline

    Claudette Gold Member

    Joined:
    Nov 3, 2009
    Messages:
    19,558
    Thanks Received:
    3,009
    Trophy Points:
    280
    Ratings:
    +7,628
    Paul Krugman.

    Who would have ever guessed?

    Talk about a left wing loon.

    Color me shocked.
     
  7. RockyRacoon
    Offline

    RockyRacoon Rookie

    Joined:
    May 25, 2012
    Messages:
    32
    Thanks Received:
    3
    Trophy Points:
    1
    Ratings:
    +3
    Obama has not been a big spending liberal like fox news and the repubs claim. He didn't slash spending as much as the right wanted but he has cut spending significantly. He also extended all of the Bush tax cuts. He's arguably more of a fiscal conservative than GWB ever dreamed of being. The rise in the debt has more to do with those tax cuts and a bad economy, not spending.
     
  8. francoHFW
    Online

    francoHFW Platinum Member

    Joined:
    Sep 5, 2011
    Messages:
    33,419
    Thanks Received:
    2,173
    Trophy Points:
    1,115
    Location:
    NY 26th FINALLY DEM!
    Ratings:
    +5,588
    As of last month, 607k gov't jobs had been cut- almost all teacher, firemen, and police "thugs". Any increased spending is welfare and UE spending to help the out of work victims of the Booosh DEPRESSION.

    Half the Fox/Pubbots now believe Obama started this recession. Change the channel- you're right off the wall, dupes.:eusa_liar::cuckoo::lol::lol:
     
  9. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,174
    Thanks Received:
    14,905
    Trophy Points:
    2,210
    Ratings:
    +36,915
    2013 United States federal budget - $3.8 trillion (submitted 2012 by President Obama)[92]
    2012 United States federal budget - $3.7 trillion (submitted 2011 by President Obama)
    2011 United States federal budget - $3.8 trillion (submitted 2010 by President Obama)
    2010 United States federal budget - $3.6 trillion (submitted 2009 by President Obama)

    United States federal budget - Wikipedia, the free encyclopedia

    Slashed?


    [ame=http://www.youtube.com/watch?v=G2y8Sx4B2Sk]You keep using that word. - YouTube[/ame]
     
    • Thank You! Thank You! x 2
  10. TakeAStepBack
    Offline

    TakeAStepBack Gold Member

    Joined:
    Mar 29, 2011
    Messages:
    13,935
    Thanks Received:
    1,723
    Trophy Points:
    245
    Ratings:
    +2,012
    Krugman is a fucking moron. He's the guy that clamored for the govt and federal reserve to produce a housing bubble. Then when it happened, he claimed to predict it coming and injected more moronic economics into the media. When he was called out that he endorsed and advocated for a housing bubble, he then later tried to lie and say he did not.

    Anyone that listens to that man is either highly gullible, stupid or simply entertained by what bullshit will come out of him next.
     

Share This Page