The only solution to the problems caused by austerity.
Cuts in government spending sent the economy into reverse following a 3.1% annualised increase in GDP in the third quarter. Government spending fell by 15%, dragged down by a 22% cut in defence spending, the biggest fall since 1972 and the end of the Vietnam war.
Is more austerity.
[there is] increasing resignation among both Democrats and Republicans that the across-the-board cuts will soon take effect. The cuts were an element of the so-called fiscal cliff that was partially averted this month with the extension of Bush-era tax cuts.
Goodness knows we cannot avert such crisis by not cutting spending — those poor oppressed wealthy are already so heavily taxed at all levels.




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As more people become aware of the details of the fiscal cliff Faustian bargain the more they will understand why I call it “The Bum Deal.”
Surprise! Without salaries there’s no consumer economy.
The world is full of consumers and wannabe consumers.
For years, Democrats asked themselves how Republican voters could possibly vote for a party that served only big business and the wealthiest Americans.
I guess Democrats are not so mystified by that anymore.
Good morning, pups. Today we’ve got Blow, Kristof and Collins. In “The National Regulation-Resisters Association” Mr. Blow states the glaring, blindingly obvious: that the N.R.A. is in the business of unfettered gun proliferation as a means of increasing gun industry profit. Mr. Kristof would like us to “Meet the Champs.” He says our national high school chess champions are the unlikeliest bunch of middle schoolers. See what a little help can do for bright kids? Ms. Collins, in “Take a Bow, H.C.,” says after 956,733 miles and 570 airplane meals and 112 different countries and 1,700 meetings with world leaders, Hillary Clinton deserves a break. Or at least a nap.
Here they are, and
Here’s Kristof’s blog.
The coffee, tea and hot chocolate are ready, and I’ve got blueberry pancakes this morning. It must have poured during the night, judging by the amount of water in the cat dishes outside, but I slept right through it. This afternoon we’re bringing Precious back to the vet to brag about her paw, which seems to have finally healed. She still has a few days of antibiotics left, but she’s healed enough that I’m letting her go outside when she wants to. Poor little thing — the first time she went out she kept looking back over her shoulder, as if she were convinced she was being bad. Have a good day.
The Feudal system will work just fine without salaries, however.
Boxturtle (All we need are prisons and gallows)
I would disagree with Mr Blow to this extent: The goal of the NRA is the NRA. They want to increase their membership rolls. They want more donations. Yeah, they like to see guns sold and they help that. But they’re not doing it for anyone’s benefit but the NRA’s.
Boxturtle (If gun manufacture stopped today, the NRA would be just fine)
Thanks, Marion, funny how former libfeminazi Hillary has got her wings now.
Glad the paw is well.
No middleman, peons sold our soul to the company store.
The chart is a bit lopsided, showing on the right side, how much less the rich are paying in taxes compared to the rest of society. If the chart were to focus in on the left side, of the poorest citizens, the lowest 10 per cent would be shown to be paying about 20 percent. If the chart went even further to focus on the lowest 5%, and the lowest 1 percent, the amount of taxes paid as a percentage of income would be higher than 20 percent.
Beyond chart-iness, there is the issue of equality.
As to austerity, Greece gave police the authority to start using violence against protestors, so I guess at least for Greece, austerity politicians have been given the ‘full speed ahead’ signal.
I am not hopeful.
The equation to justify tax inequality; fewer people paying less equals more tax base. The equation to justify austerity; more people earning less equals more money in the economy. Wingnut economics equals disaster. Already been proved, works every time.
Don’t forget workhouses, too, also.
Send the convicts to some other continent, also.
You remember that song, too? It was one of my favorites as a child. I’ve got it on a 16 2/3 rpm procelin record!
Boxturtle (St. Peter don’t ya call me, ’cause I can’t go…)
We no longer need workhouses, we can lock people up in private prisons without charge or access to unapproved lawyers.
Boxturtle (Don’t ya love progress?)
And debtor’s prisons. Making being in debt a criminal offense would be extremely helpful…
Another day older and deeper in debt.
I see we’re working our way back to the opening lines.
One of the U.S.’s great developments that escaped old world feudalism was the availability of bankruptcy, instead of lifelong indebtedness that disabled anyone’s future ability to survive economically. The wingnuts are trying to erode that too, further incapacitating the U.S. worker from ever achieving economic viability.
the progressives on TEEvee have always missed their most important tool when discussing taxes and “tax breaks for the wealthy”, they never want to mention that over all the wealthy pay less in taxes then the labor classes.
Ummn, the Vietnam War was still in progress in 1972, yes? As I recall, 1975 was when it ended.
Silly, silly you… Pretending that facts actually matter…
Any excuse for more austerity and cutting SS, which has nothing to do with the debt, and M&M, both of which could be controlled if we had someone that wanted to govern, not simply fund raise.
I watched Bush sign his “no-bankruptcy” bill into law. I was in deep debt a t the time and ran, not walked to a bankruptcy lawyer.
In the events that followed ( the bursting housing bubble) it became quite clear that all this was very carefully designed as part of the Great Bankster Heist (ongoing).
I have no idea if people can even TAKE bankruptcy anymore. The corporations sure can to rid themselves of their worker’s pension obligations, but individuals just lose everything
Hate to be viewed as a conspiracy theorist, but it sure looks that way to me.
They really DO want it all as George Carlin said
Where does that figure come from? We haven’t cut defense spending by a quarter trillion dollars!
And more generally, it’s important to remember that cutting wasteful spending is good – the challenge is how money is spent, not the total amount spent.