Saturday, March 02, 2013

All we have to do to eliminate budget deficits.....

get rid of the old, the sick and the military...problem solved. Then we hire politicians with half a brain and restart the programs for the old, the sick and the military. Once we eliminate the deficit we can start over again because you can't run a modern economy with out deficits. It takes a year to gather the taxes to pay for today's expenditures.

So, you borrow or print until then....THIS IS CALLED DEFICIT SPENDING.

Oh yeah, didn't I ever tell you it ain't gonna happen!!

Too many politicians and media types. in order to get the government from smothering us, invented deficits will bankrupt us and our children. Sounds great except not one single politician will survive such a dumb move. Taking checks from people who depend on them is a nonstarter.

Talk about political suicide!!

Ben Bernanke, Hippie -

He then argued that given the state of the economy, we’re currently spending too little, not too much: “A substantial portion of the recent progress in lowering the deficit has been concentrated in near-term budget changes, which, taken together, could create a significant headwind for the economic recovery.” Finally, he suggested that austerity in a depressed economy may well be self-defeating even in purely fiscal terms: “Besides having adverse effects on jobs and incomes, a slower recovery would lead to less actual deficit reduction in the short run for any given set of fiscal actions.” So the deficit is not a clear and present danger, spending cuts in a depressed economy are a terrible idea and premature austerity doesn’t make sense even in budgetary terms. Regular readers may find these propositions familiar, since they’re pretty much what I and other progressive economists have been saying all along. But we’re irresponsible hippies. Is Ben Bernanke? (Well, he has a beard.)

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