With increasingly grave warnings of doom they try to make us believe that we are facing a national crisis that must be met with a bipartisan solution that will be impervious to the inevitable protests that will arise from most people when their solution causes suffering — as it inevitably will, since as MMT shows, deficit reduction and government surpluses, in the presence of trade deficits, and desires to save in the private sector will inevitably cause destruction of private sector financial assets. Since the elites are in a better position to protect their financial assets than other Americans, the burden of austerity and the resulting hardships and fatalities will inevitably fall on most of us.
|By: Phoenix Woman Saturday July 7, 2012 6:45 am|
The 1993 Clinton tax hike that saved the economy and which helped lead to the Clinton Boom is also what has been blamed for the Democrats losing Congress in 1994, and to this day Democratic veterans of that time often react with shudders when talking about 1994. It would be nice to see that conventional wisdom finally proved wrong.
|By: Dean Baker Sunday June 17, 2012 1:20 pm|
The United States has more than 25 million people unemployed, underemployed, or out of the labor force altogether because of the weak economy. Investors are willing to make long-term loans to the country at 1.5 percent interest. The idea that the budget deficit should be the country’s major concern is close to loony, but nonetheless in policy circles that seems to be the case.
|By: Jon Walker Thursday December 1, 2011 1:25 pm|
In case you weren’t paying attention during the debate about the extension of the Bush tax cuts last year, members of Congress are again working on a deal to clearly show there is no such thing as a deficit hawk.
|By: Jon Walker Thursday August 11, 2011 11:30 am|
The only thing worse than Washington being foolishly swept up in unnecessary deficit hysteria when our political leaders should be focused on jobs, is that all these so called “deficit hawks” entirely ignore the actual best solutions to shrink our long term deficit. That is why it is encouraging to see more regular exposure of the fact that adopting Medicare for All is the best way to address our long term deficit concerns.
|By: Eli Friday June 10, 2011 6:01 pm|
Even the people who hyperventilate about deficits for a living think economic growth is more important than spending cuts right now.
|By: Jon Walker Wednesday May 18, 2011 9:40 am|
I’m beginning to suspect the Republican’s decision to hold the debt ceiling hostage to demand only big cuts in spending and President Obama’s almost enthusiastic desire to play along was a way to deal with the problem of the nonexistent bond vigilantes by actively creating some.
|By: Jon Walker Tuesday March 22, 2011 1:20 pm|
Libya is just another recent reminder that almost no one in Washington actually cares about the deficit. The deficit is only used as an excuse to justify forcing regular Americans to sacrifice.
|By: Jon Walker Wednesday March 9, 2011 6:36 pm|
In what is something like the 50th survey to show the same thing, a new Bloomberg poll (PDF) found that by far the top issue for Americans is jobs, and that a clear majority want the federal government to be focused on the priority of creating jobs instead of cutting spending.
|By: Jon Walker Wednesday March 9, 2011 1:50 pm|
In the context of reducing the budget deficit, a new Bloomberg poll (PDF) asked Americans if they would support pulling all troops out of Iraq and Afghanistan. The poll found an overwhelming 66 percent would favor this action, while only 30 percent oppose it.