Skip to main content

View Diary: Before You Start Bashing Sen. Patty Murray (D-Wash.) Read This (293 comments)

Comment Preferences

  •  think of everything we could afford (4+ / 0-)

    if we weren't paying this kind of interest:

    In 2010, net interest outlays totaled $197 billion

    deficits do matter, just not from every perspective.  anyhoo, thankfully, there are lots of ways to reduce the deficit that don't involve cutting the good stuff. getting out of afghanistan, MIC cuts, raising the SS income cap, cutting bush tax cuts for the rich, etc.

    Please don't dominate the rap, Jack, if you got nothin' new to say - Grateful Dead

    by Cedwyn on Sun Nov 11, 2012 at 02:54:17 PM PST

    [ Parent ]

    •  bunk (5+ / 0-)

      we won't buy anything until we have a genuinely growing economy, at which points the deficit will begin to reduce on its own. this isn't complicated. we need to be spending, lots, short term.

      The cold passion for truth hunts in no pack. -Robinson Jeffers

      by Laurence Lewis on Sun Nov 11, 2012 at 03:00:46 PM PST

      [ Parent ]

    •  We're borrowing to pay off the interest, (6+ / 0-)

      and the rate we're borrowing at is close to the inflation rate.  Recently the rate on 10 years bonds was BELOW the inflation rate.  People were paying us to hold money and give them back less.  And whenever there's any sort of wobble in the world economy, the demand goes up and the rate goes down.  Hell that happened when our debt was downgraded!  Because our debt was downgraded!

      When you look at the finances, right now we're basically borrowing for free.  Which mean's now's the time to run up a large debt at favorable rates to increase our productivity.  Raise productivity to reduce the deficit.  When you're offered something for nothing, you take it.

      •  Don't forget: "to raise productivity" on (2+ / 0-)
        Recommended by:
        pistolSO, zett

        Wall Street means to fire people.

        You're right, now's the time to be spending to stimulate the economy, as well as to invest in education and R/D, build a new 21st Cent. Infrastructure, expand growth in clean energy and respond to climate change.

        Those are all good reasons to be doing that now as opposed to later.

        You can't make this stuff up.

        by David54 on Sun Nov 11, 2012 at 04:15:41 PM PST

        [ Parent ]

        •  Goes w/o sayin. I meant real productivity. (2+ / 0-)
          Recommended by:
          zett, David54

          Like things.  Not fucking accounting tricks.  Not the creation of debt.  Wall street's economy, the financial services economy, is the economy of debt creation.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site