The big econmic
news lately is that the federal budget deficit is shrinking faster than
predicted http://www.cbo.gov/publication/44144 .
Apparently, the economic recovery, the 2013 tax hikes, spending cuts from recent
years, and of course the Sequester have worked as intended by the deficit hawks,
and we could have a balanced budget in a few years if all goes well (which it
might not of course). So here we are again with the bizarre good news/ bad news
positioning:
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This is great news for the Deficit Scolds! Right? Well, for some reason none of them seem to be thrilled about it. I guess it's because their whole existence requires constant hysteria about our mounting debt so that they can implement their actual agenda, which is cutting down government and the welfare state. They don't want to hear that, actually, we can afford to keep old people from dying of malnutrition and treatable diseases here in the richest country in the history of the world.
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OK, well it's great news for the Obama apologists who have stood firm against austerity in tough times, right? No, not really, because the economy is still in a depressed state, and in fact falling deficits are seen as a bad thing by the Keynesians, since the recovery will be slower due to the lack of demand in the private sector. It's true that liberals supported increased taxes on the wealthy which are a part of the reason for the good budget news, but what we really wanted was for those taxes to go up in a few years, when the economy was humming along again. And everything else that allowed this to happen was stuff we opposed like decreased social spending.
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Well, at least it's good news for the Tea Party right, whose victory in the Sequester fight is one of the big reasons for this outcome. No? My right wingnut correspondent and inveterate commenter on this blog keeps telling me that this is not even close to good news, because we still have a really big national debt we have to start paying down (where was this guy during the Reagan and Bush deficit years? Silent about that, naturally). Of course the real problem for this crowd is that they can't accept that anything good could possibly happen while Obama is at the controls.
Look, most of this is really about the economic recovery, which is slow but
steady. I predicted a while ago that whoever was elected president in 2012 was
going to get credit for the recovery, which was going to come almost no matter
what policies were in place. The austerity policies of 2013 aren't severe
enough to derail the recovery, so we're still on target for my prediction to
work out.
Halleluiah! The Deficit is down. Don't get me wrong, it is good news BUT,,it is only one month. Federal Spending and Entitlements will continue to put pressure on the Deficit. The long term solution is spending cuts and Entitlement reform. The author of this blog and the Democrat politicians he supports would love to have more spending and more Entitlements. It is the way they stay in office. They LOVE spending OUR money on THEIR voters. Liberals reading this blog probably think Democrat Politicians actually want to help the poor with our money. What they actually want is to help the poor find a reason vote for them (with our money). It worked in 2008 and 2012.
ReplyDeleteDo you really want your kids to live and try to prosper in a country that has a Government ready and very willing to target its opponents using the IRS, the EPA and the Justice Department?
ReplyDeleteDo you really want your kids to live and try to prosper in a country that has a Government that burdens them with a $20 Trillion Dollar Debt?
Do you really want your kids to live and try to prosper in a country that has a Government that lets its Ambassadors die as they sit in their offices plotting an excuse for their inaction?
Do you really want your kids to live and try to prosper in a country that has a Government that has an insatiable appetite to Spend and Tax them out of Prosperity?
Do you?
Where is the author of this blog? It's been a week since he gloated about the Deficit. (As if hundreds of Billions in Deficits is anything to brag about.)
ReplyDeleteWhat about Benghazi,,the IRS scandal,,the idiotic excuses by Barack and Eric? Defend them! They need your support. Hell, even the Left-wing press is jumping ship. Chickens!!
Boston Ron
“When the people fear the government there is tyranny, when the government fears the people there is liberty.”
ReplyDeleteThomas Jefferson
The longer this administration stays in office the more we find the Founders words to be brilliant.
Question for readers of this blog; Which is better,,we fear the Government or the Government fears us?
We all know by now the utter failure of Euro-socialism across several European countries.
ReplyDeleteDon't you find it ironic that Liberal Democrats in the US know this yet have America on a Euro-Socialist track?
Why? It's like knowing your household spending is putting you on a track toward Bankruptcy yet you persist in going there.
The basis of Euro-socialism is high taxes, huge Deficits, a bloated Public sector and Politicians who love spending other peoples money.
Sound familiar?
Is it like being hooked on Drugs, knowing it's killing you but you can't help yourself?
Why do you think they do it?
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure.
ReplyDeleteIt is a sign that the U.S. Government can’t pay its own bills.
It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.
Increasing America’s debt weakens us domestically and internationally.
Leadership means that ‘the buck stops here.
Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren.
America has a debt problem and a failure of leadership.
Americans deserve better.”
Senator Barack Obama
The new Normal:
ReplyDeleteAmerican Households on Food stamps Climb to New Record
Yesterday was when the USDA releases its monthly Supplemental Nutrition Assistance Program data, i.e. Americans on Food stamps.
Individual food stamps recipients rose by 170K in March, it was the number of American households on food stamps, which rose to a new all time high of 23,116,441. Each collecting an average of $274.30 per month from you (if you are one of the shrinking numbers of working Americans) that perfectly explained the transfer of wealth from the (why are we still working class) continues without a hiccup.
Among the members of this blog is this good news or bad news? It means more votes for Democrat candidates, that’s good news isn’t it?
To all Liberals reading this blog:
ReplyDeleteIf you have what is commonly known as "Liberal Guilt Complex" and find it better to invest in Bankrupt companies and IRS Parties you have every right to do so.
Just send the IRS a check.
There, that was easy. You helped a few hundred highly paid Bureaucrats and out of work Green Company CEO's and the only folks you hurt was your family!
Try it, my Liberal pals tell me it makes them feel better.