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About Me
- The Foundry
- New England, United States
- The Foundry is run by an unabashed liberal, Jewish, suburban middle-aged guy from New England. In my day job, I am a clinical social worker. I believe in progressive taxation, generous social programs, gay marriage, and support for Israel. Though I come to my opinions viscerally, I believe in backing them up with facts and data. Hopefully I'm doing that in my blog. Thank you for reading.
Corporate Profits vs Government Debt.
ReplyDeleteQuestion: Which one is putting me and my children $16 Trillion dollars in Debt?
Need we say more?
Government debt has nothing to do with the linked article- I wonder why you bring it into a discussion that is totally unrelated.
ReplyDeleteHow can you separate Krugman and Debt, Krugman and Recession, Krugman and Fiscal insanity?
DeleteThe American public has had lots of experience living through recessions. We have endured 11 over the past 60 years, but none since the end of World War II has been as deep or as long as this one. It has severely tested the optimism, confidence, and animal spirits that typify the temper of America.
People see that the administration has invested $5 trillion to reverse the recession and achieve growth again, and the Federal Reserve has pushed interest rates down to record lows. But it's like strenuously inflating a tire with a leaky valve. Whatever we do, it is soon soft again and now the air still seems to be hissing out, so we fear we will soon be riding on the rim. The only certain result is that we will be paying interest on this $5 trillion for decades to come.