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View Diary: Thomas Friedman's warm spit political advice (109 comments)

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  •  There is going to have to be a plan (0+ / 0-)

    None of us want to think about it when times are this tough, but there is going to have to be a plan to get out of this hole.

    We have been deficit spending for the better part of 30 years now (save for a few with Clinton) and massively so for the past 4-5.

    How long into the future do we allow it to continue? Another 10, 15, 20?

    The public is scared of massive stimulus because they know that we have already accrued a ton of debt, and have the boomers starting to retire which will strain the budget further.

    Without showing a credible plan to the public that there is a path to balancing the budget using real numbers that aren't pie in the sky we are never going to get the public behind us for more needed stimulus.

    •  Japan's debt/gdp is 220%, it continues to.. (3+ / 0-)
      Recommended by:
      wsexson, Saint Jimmy, Calamity Jean

      ...post deficit after deficit, the rating agencies just downgraded its debt, for the fifth time over the past decade.

      And it's paying 0.85% to sell 10-year debt.

      If the bond market isn't concerned about US deficits (US is paying 1.45% for 10-year debt), neither should the Dems.

      Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project. http://www1.hamiltonproject.org/es/hamilton/hamilton_hp.htm

      by PatriciaVa on Sat Jun 02, 2012 at 06:12:47 PM PDT

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      •  GDP % (0+ / 1-)
        Recommended by:
        Hidden by:
        Saint Jimmy

        GDP% isn't so much the problem as the size of the number scares people.

        We are barreling towards $20 trillion in the next 3-4 years.

        If you think that the shear size and scope of the numbers aren't going to soon start scaring investors (or create the impetus for looking for something other than a dollar dominated world in the future) than I admire you.

        This can't/won't go on forever.

        Pretending that it can will leave us very flat footed for when the day of reckoning eventually comes.

        It has for every empire in the history of the world, and it will for us as well.

    •  Close 100 military bases and sell the carriers (1+ / 0-)
      Recommended by:
      Churchill
    •  oh, and those tax cuts for the mega wealthy and (5+ / 0-)

      those oil company subsidies and that military budget on steroids has NOTHING whatsoever to do with the deficit spending?  Any plan that doesn't do away with those things is fundamentally dishonest.  Don't tell me that all austerity in the face of this collossal wealth grab by millionaires and billionaires is a "credible" plan.  And cutting Social Security instead of raising the wage cap is not "credible" either.  

      The only "credible" solution I can see is geso we can stop focusing on abortion and start rebuilding prosperity by helping people keep their homes, putting people back to work and raising some tax revenues.  

      Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it. --Mark Twain

      by SottoVoce on Sat Jun 02, 2012 at 06:43:45 PM PDT

      [ Parent ]

      •  correction: I didn't mean "geso" whatever that is. (3+ / 0-)
        Recommended by:
        vcmvo2, sethtriggs, Calamity Jean

        I meant "getting rid of those Republican obstructionists in the House so"

        Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it. --Mark Twain

        by SottoVoce on Sat Jun 02, 2012 at 07:00:33 PM PDT

        [ Parent ]

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