Monday, June 04, 2012

Krugman finally comes around....

Next thing you know he will declare himself a new monatery theorist.  basically, government debt is part of  our national income and when we receive it we pay taxes back to the treasury and our spending is taxed by it's recipient etc, etc.

But we right wingers believe that government as it exists today is the enemy of freedom and no one knows how to curb it's eventual domination of everything in the world. Except scaring the fuck out of ignorant voters to kill the very Social Programs that sustains millions of people.

Does anyone believe I'll vote for Romney to cut Social Security, Medicare, student loans, VA retirement checks, etc. (let alone use the money to raise military spending and pay off the fat cats who have been exploiting the tax payers for ever) so he can save a couple of million a year in his personal taxes?

Didn't I ever tell you that the right has lost this argument and needs to find  something else. It's over. Done. No one can cut spending without crashing the economy and put us back to 2008. Let alone back to the 30's!

Watch Europe implode. No one can figure it out over there but cutting out cash to the broke dicks addicted to it is  politically impossible to do and remain a VIABLE NATION. 

The Austerity Agenda -

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.

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