For John, BLUF: There is no national concensus on how to fix a recession, and no concensus amongst economists to help us. Nothing to see here; just move along.
Remember when the Republican House members were being excoriated for being stupid, selfish idiots for playing chicken with the debt ceiling?
Now we have their Democratic Party equivelents, "the [fiscal] cliff divers".
Washington Post writer Suzy Khimm writes:
The very notion of a “fiscal cliff” suggests that the country is approaching a calamitous drop-off at the end of the year — and it would be tantamount to suicide to jump off.NOTE: Later in the story is the acronym CBPP, Center on Budget and Policy Priorities.But a contingent of policy wonks and Democrats insist that letting the Dec. 31 deadline come and go — thus triggering automatic tax increases and spending cuts — could produce the best outcome for the country. Once the tax hikes have kicked in, the reasoning goes, Republicans would be hard-pressed to roll them all back and would have to accept a deal on taming the deficit that contains more new tax revenue than GOP lawmakers want.
Hat tip to the Instapundit.
Regards — Cliff
6 comments:
So we are to conclude that the Republican obstructionists were actually acting in the national best interest, since the Democrat obstructionists will be using the same tactics?
This BS that since "they" do it, the fact that "we" are doing it becomes excusable is outrageous. What we have is one "Big Government" party that favors massive deficits, even more massive debt, and has absolutely no demonstrated interest in ever acting responsibly.
No! We are to conclude that we lack a Concensus on how to get out of this fiscal mess and that none of us has a clue on how to convince the other side of the error of their ways,, and worse, don't know where the clue bag is.
It may look like one party with two sides but there are differences in understanding how the economy works.
I would love to go back to believing Lord Keynes had it right, but I can't. But The President, Senate Majority Leader and House Minority Leader still believe in his prescriptions. How does the Libertarian Standard Bearer, or Jill Stein, or anyone else square this circle?
Regarding the national debt, the loosely associated Tea Party crowd wants to eliminate deficits and reduce the debt. They live in fear of Germany in the 1920s. But, we all know they are kooks.
Regards — Cliff
to fix the economy is a simple fix
buy american made only!
John McDonough
Given the comments, it sounds like the Fiscal Cliff (named in your honor) is the right answer. Relative to John's comment, I heard earlier this week that Canada is energy independent and gas is still over $4 a gallon.
Hmmmmmmmmmm......so suicide is an acceptable answer...and not even "assisted" at that. The fiscal cliff is the result of a failed attempt by Obama to get what he wanted earlier in the year regarding tax changes. I refuse to say "cuts" because Obama is not going to cut anything.....and only the "millionaires and billionaires" have advance warning of his desires....the middle class will simply be horribly blind-sided.
To Lance I would suggest that Canada has more years to come in order to overcome decades of regressive socialist government. Thus...the $4/Imperial gallon of petrol.
The so-called Tea Party (which exists as an "entity" only in the loosest of terms) has it right, but will never see their hopes and dreams materialize because a society with the largest credit card debt in the history of mankind is not about to stop buying now and paying later. Americans have become the penultimate hedonists......and have yet to discover that it all comes with a platinum level price tag.
Libertarians square the circle by eliminating bloated government in favor of a responsible, lean one. The EPA, for example, does NOT need to be in the business of regulating gas cans lids that result in MORE leakage and spilling, not less. http://www.youtube.com/watch?v=JhOCC2-R8fo. We are way past the point of reason where our Federal spending is concerned.
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