Skip to main content

View Diary: Austerity cost U.S. up to 2.2 million jobs in weakest recovery since WWII (64 comments)

Comment Preferences

  •  Meh. (1+ / 0-)
    Recommended by:
    satrap

    Debt as a percentage of GDP is supposedly not actually at record highs iirc.  Of course, while Republicans can do nothing but shriek 'debt, debt'!, I'd like to see them vote to reinfuse the money into the system that was taken out through over a decade of tax cuts and Republican wars.  They can feel free to pay the country back the trillions they've cost us that have driven the debt so high.

    •  the federal balance sheet is not the topic (2+ / 0-)
      Recommended by:
      taonow, satrap

      taonow raised.

      He/she certainly meant individual/corporate balance sheets.

      I read a great article I can find that cited credit drawdowns as pulling $6-8 trillion dollars out of the economy.

      "The way to see by faith is to shut the eye of reason." - Thomas Paine

      by shrike on Sat May 04, 2013 at 07:39:42 PM PDT

      [ Parent ]

      •  Corporations are raking in the money. (0+ / 0-)

        They're having record quarter after quarter, and, in large part, paying little to nothing in taxes.  Why are individuals in debt?  Poor pay and unemployment.  Why are small businesses hurting?  Low demand because the people who used to buy their products are unemployed or underemployed.

        Our 'debt' problem is entirely created by lack of well-paying jobs.  Well-paid, employed people buy the goods and services companies offer.

        Henry Ford knew this, and paid his employees highly, and his business boomed.  The current 'cut employees' and 'cut pay' mentaility is the creator of the problem, not its solution.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site