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View Diary: Mitt Romney: Joe Biden's vision of dignity and opportunity is 'a fantasyland' (95 comments)

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  •  Perhaps reducing the debt and deficit when (1+ / 0-)
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    egarratt

    the economy is this far down isn't a priority right now.  When I took macro-economics in the summer of 1985, the professor said that he didn't think we'd ever be able to pay off the debt. I ran into the professor in the late '90's and asked him how we had gotten into a position to clear the debt.  He said it was a combination of raising taxes and a growing economy.  So maybe, just perhaps, we have to take a few additional steps in the form of stimulus before we destroy everything that has allowed us to be a super-power.

    Corporations aren't people; they're Republicans. Rev. Al Sharpton

    by HappyinNM on Fri Dec 23, 2011 at 01:18:38 PM PST

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    •  It's never a priority (3+ / 0-)
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      nextstep, egarratt, VClib

      The situation in 2000 allowed us to run a 'surplus' due to dot.com accounting fraud, basically our public surplus was being countered by an increasing private debt load being masked by the bubble.

      No one will ever take any serious steps to reduce the deficit, until we end up like Greece. Any politician who tried would get unelected precisely by people who make the argument you just did.

      The idea that we might have to decide how we are going to get by on our present economic situation for the long term is anathema, it will not be considered. Instead we tell each other fairy tales about growth.

      (-5.50,-6.67): Left Libertarian
      Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

      by Sparhawk on Fri Dec 23, 2011 at 01:23:39 PM PST

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