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View Diary: Obama's back in the saddle on taxes for rich in weekly address (100 comments)

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  •  The majority of Americans voted for House Dems (5+ / 0-)

    but the corruption of our political system let the GOP keep a strong House majority.

    We need to fix a lot about the way we run our country or we will end up letting the rich rob us blind.

    The GOP is the party of mammon. They mock what Jesus taught.

    by freelunch on Sat Nov 10, 2012 at 07:17:35 AM PST

    [ Parent ]

    •  Too late. They raided Social Security for the (2+ / 0-)
      Recommended by:
      weltshmertz, Ragunan

      Bush/Cheney wars, starved the nation of tax revenue, and have consistently sent US resources, both wealth and human potential, out of the country.  There's little left to work with unless we invest what's left in peace, education, and infrastructure.

      Romney went to France instead of serving in our military, got rich chop-shopping US businesses and eliminating US jobs, off-shored his money in the Cayman Islands, and now tells us to "Believe in America."

      by judyms9 on Sat Nov 10, 2012 at 07:39:00 AM PST

      [ Parent ]

      •  The democrats have done their bidding (2+ / 0-)
        Recommended by:
        zinger99, weltshmertz

        and continued Bush's tax cuts and helped the GOP completly rob the coffers. Norquist's starve the beast has benn realized.

        •  Norquist's starve the beast has NOT been realized (2+ / 0-)
          Recommended by:
          chuck utzman, judyms9

          since, due to the high unemployment rate and simultaneous low "aggregate demand," it is deficit spending which is exactly what the economics textbooks call for.

          "Cutting the deficit" is a foolish call in the present situation.  

          And that is true even if the president calls for "cutting the deficit" or for a "balanced approach to cutting the deficit."

          It is sheer lunacy.  And piss-poor macroeconomics.  Why should any take advice from Grover Norquist?

          "Cutting the deficit" will not (and never could) reduce unemployment or increase economic growth one bit.

          In fact "cutting the deficit" now will have exactly the opposite effect.

          "Cutting the deficit" right now will:  (a) shrink the economy; and (b) increase unemployment.

          If you don't believe me, go knock on the door of you local university's economics department and ask if I am right or if I am wrong.

          IF YOU DON'T want a smaller economy and IF YOU DON'T want higher unemployment, then you need to INCREASE spending until unemployment is greatly reduced (see "Employment, Full").  THEN cut you cut spending.

          As John Maynard Keynes wrote back in 1937,“The boom, not the slump, is the right time for austerity.”

          We are not in an economic boom, folks.  [You want austerity?  Look at Europe.  Unemployment is at 25% in Spain.  Plenty of budget-cutting, though.  Loads of that].

          So why are all the liberals on this board joined together in supporting the president as he agrees with the Republicans that we must not invest in the future right now, that we must not foster economic growth right now, but that now we must agree with the Republicans to "cut spending."

          Raising the top marginal tax rate doesn't make our basic bipartisan austerity agenda any less harmful.  And it is harmful.

          Our cost of real cost of federal borrowing after inflation is exactly zero percent at present.

          So why do the Republicans win the argument now?  They always want to cut spending, or say that they do.  So why let them have their way now??  After all, unemployment is at eff-ing eight percent!!

          When you say -- or when the president says -- that we need to "cut the deficit" (in the middle of the Great Recession), or when you say (as as the President also says) that we need to "balance" our policies by raising taxes just as we also cut spending in the middle of the Great Recession, then you are neither being very patriotic, nor a good Democrat, nor a good liberal.

          But you are being a very poor macroeconomist, in fact a piss-poor macroeconomist.  And you are agreeing with the Republicans.

          And then Norquist will indeed win.  Unless we ignore him, and put off the deficit-cutting until full employment is restored.

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