Skip to main content

View Diary: The least bad option: Going over the artificial fiscal cliff (388 comments)

Comment Preferences

  •  If kicking the can 'works', and growth continues (0+ / 0-)

    the GOP Austerity Cure Fad will fade. American voters are practical. Besides every economists says the only way out of debt is growth. Obviously we must support the safety net unconditionally, catfood claque not withstanding. But more growth will cause folks to tune out the Pete Petersons.
    It may be illogical but another big downturn will strengthen the deficit fanatics.

    •  Tell me how it "works" (0+ / 0-)

      I'm for your solution.

      Obama probably is too.

      Now what?

      •  Deficit spending works I think we all agree on (1+ / 0-)
        Recommended by:

        that. Thanks to GWBush we are looking at +$1 trillion dollar (tax cut fueled) deficits as far as the eye can see
        and so is everyone else in the world( except maybe the Germans and Finland). 30 year Treasuries SELL at 3% yield(long term inflation). We have wage deflation, though commodity inflation happens due to globalization--something no monetary/gold hording policy on earth can cure.
        Watch the financial shows, nobody talks about bond vigilantes anymore.
        Austerity is about fear but overtime people lose their fear if things toddle along.
        Raising the debt limit is non-negotiable more than the tax curts--McConnell's idea is terrific, make the President rsponsible, fine. Now we can go back to deficit spending.
        GOP wants to reduce the deficit? Fine, pay your taxes!
        (Maybe not so much.)

Subscribe or Donate to support Daily Kos.

  • Recommended (132)
  • Community (62)
  • Elections (39)
  • 2016 (37)
  • Environment (36)
  • Bernie Sanders (35)
  • Hillary Clinton (30)
  • Culture (30)
  • Republicans (29)
  • Media (29)
  • Climate Change (27)
  • Spam (24)
  • Congress (23)
  • Education (23)
  • Civil Rights (22)
  • Barack Obama (21)
  • Labor (21)
  • Trans-Pacific Partnership (21)
  • Texas (20)
  • Law (20)
  • Click here for the mobile view of the site