The rights historically failed ideas proven failure

Truthmatters

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IMF: Austerity boosts unemployment, lowers paychecks - The Washington Post


These past few years, the Republican line on job creation has been simple: Cut government spending, tame the deficit, and unemployment will fall. Maybe not tomorrow, maybe not the day after, but soon. “To put it simply,” House Majority Leader Eric Cantor (R- Va.) said last spring, “less government spending means more private-sector jobs.” But that’s not exactly a rigorous study. So here’s a rigorous study.


In a new paper for the International Monetary Fund, Laurence Ball, Daniel Leigh and Prakash Loungani look at 173 episodes of fiscal austerity over the past 30 years—with the average deficit cut amounting to 1 percent of GDP. Their verdict? Austerity “lowers incomes in the short term, with wage-earners taking more of a hit than others; it also raises unemployment, particularly long-term unemployment.”

More specifically, an austerity program that curbs the deficit by 1 percent of GDP reduces real incomes by about 0.6 percent and raises unemployment by almost 0.5 percentage points. What’s more, the IMF notes, the losses are twice as big when the central bank can’t cut rates (a good description of the present.) Typically, income and employment don’t fully recover even five years after the austerity program is put in place.
 
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driveby

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IMF: Austerity boosts unemployment, lowers paychecks - The Washington Post


These past few years, the Republican line on job creation has been simple: Cut government spending, tame the deficit, and unemployment will fall. Maybe not tomorrow, maybe not the day after, but soon. “To put it simply,” House Majority Leader Eric Cantor (R- Va.) said last spring, “less government spending means more private-sector jobs.” But that’s not exactly a rigorous study. So here’s a rigorous study.


In a new paper for the International Monetary Fund, Laurence Ball, Daniel Leigh and Prakash Loungani look at 173 episodes of fiscal austerity over the past 30 years—with the average deficit cut amounting to 1 percent of GDP. Their verdict? Austerity “lowers incomes in the short term, with wage-earners taking more of a hit than others; it also raises unemployment, particularly long-term unemployment.”

More specifically, an austerity program that curbs the deficit by 1 percent of GDP reduces real incomes by about 0.6 percent and raises unemployment by almost 0.5 percentage points. What’s more, the IMF notes, the losses are twice as big when the central bank can’t cut rates (a good description of the present.) Typically, income and employment don’t fully recover even five years after the austerity program is put in place.

Your 32,000 + posts are all historical examples of failure.....
 

Moonglow

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economic failure allows the rich to buy up the American dream
 
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Truthmatters

Truthmatters

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173 episodes of fiscal austerity over the past 30 years


Now you claim your ideas work based on WHAT evidence?
 

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[ame=http://www.youtube.com/watch?v=mdMr9q1IucM]WYNONNA JUDD - I WANT TO KNOW WHAT LOVE IS - YouTube[/ame]
 

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I'd try to explain to you that simply wanting the federal government to reduce wasteful spending and reduce the deficit does not equal 'austerity measures', but I highly doubt you have the mental capacity to comprehend the explanation.
 
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oh it is fun as hell to watch you all twist in the wind like this.

The cold hard facts have come to bear on your historically failed ideas and look how you react.


Your ideas do not work.

Why do you cheer failure?

Why do you continue to lie to yourselves about the facts?
 
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Truthmatters

Truthmatters

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Cut government spending, tame the deficit, and unemployment will fall?


That is what the right has been saying for quite some time now.

They also want to add to that tax cuts for the wealthy.

That means even less money for the government.

You guys are doubling down on failure.


Your ideas will not produce what you claim they will and you have not ONE shred of fact in your corner
 

syrenn

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oh it is fun as hell to watch you all twist in the wind like this.

The cold hard facts have come to bear on your historically failed ideas and look how you react.


Your ideas do not work.

Why do you cheer failure?

Why do you continue to lie to yourselves about the facts?

 

WillowTree

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how's obie doodle's plan working out for ya, moron..
 
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denying facts make you dumber and dumber each day you do it.

Your ideas have been PROVEN beyond a shred of doubt to be failures.

The republican party champions lies
 
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Truthmatters

Truthmatters

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173 episodes of fiscal austerity over the past 30 years—with the average deficit cut amounting to 1 percent of GDP. Their verdict? Austerity “lowers incomes in the short term, with wage-earners taking more of a hit than others; it also raises unemployment, particularly long-term unemployment.”
 

WillowTree

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we on da gravy train now, high cotton the demoRats plan is in high gear.. right?
 
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Truthmatters

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got anything to prove your fail ideas are not failures?
 

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