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View Diary: Furlough notices come to the Defense Department (41 comments)

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  •  The Short Term Has Long Term Implications (0+ / 0-)

    Sluggish growth will slow down the decline we are experiencing in the deficit. Another recession would reverse it. The consequences of long term unemployment currently and the declines in incomes have long term consequences as well. Hate to see that this is being used to make cuts in Social Security and Medicare and feel that Obama has misplayed his hand there. Politically a sluggish economy continuing hurts the ability to sell progressive policies. So the effect of sequester cuts to me is the priority. Hate to quote Keynes again but in the long run, we are all dead.

    •  Hey, no bone to pick with you. And I'm certainly (0+ / 0-)

      not disagreeing with you regarding the short (or long term) adverse effect on the economy for the masses.

      You made excellent points.  And I agree with them.

      Please allow me to add to your points.  

      Imagine the detrimental effect on the economy when the drop in the expendable income of today's Social Security recipients (numbering 55 plus MILLION now--without the 76-79 MILLION Boomers) begins to be felt.

      Can't imagine what the end result will be if ALL the Bowles-Simpson recommended cuts to Social Security are passed during the next 3 1/2 years.  Don't even want to go there, LOL!

      Since many recipients of Social Security old age and disability benefits are poor or low income, these transfer payments have a stimulative effect to the economy similar to UE benefits.

      And imagine when the bulk of the 76-79 MILLION Boomers retire over the next decade plus, and the net effect that their cohort will have on the economy in relation to lost, or reduced 'promised' expendable income.

      It seems that the PtB are not concerned about the economy as it pertains to "individuals."

      Their supply-side (oops--'pro-growth) economics is geared toward protecting the wealth of the One Percent.  And I perceive them to be indifferent to the potential suffering of the masses.


      "Only he who can see the invisible, can do the impossible."-- Frank L. Gaines


      by musiccitymollie on Wed Mar 20, 2013 at 02:02:44 AM PDT

      [ Parent ]

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