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

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  •  Severely understates reality (1+ / 0-)
    Recommended by:
    mookins

    see my other comment, and todays dairy for details why.

    http://www.dailykos.com/...

    .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

    by Roger Fox on Fri May 03, 2013 at 12:52:19 PM PDT

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    •  Please hammer this topic you raise. (1+ / 0-)
      Recommended by:
      grimjc

      Cannot recommend your Propose a realistic stimulus-Let the GOP kill it & run on that in 2014 essay any more highly. (At your link.)

      Even the comments there are excellent.

      This, in my opinion, would be the thing for the disgruntled with the party to coalesce around. And now. The polling shows even Republicans want the Federal Government to do a stimulus.

      It's so bloody obvious as a way to, at the very least, get Republicans fighting on the defensive, and on our turf. And likely to win elections for Dems, very very likely. Unless voters don't turn out for what they demand.

      How this escapes the leadership... ?


      Actual Democrats is the surest, quickest, route to More Democrats

      by Jim P on Sat May 04, 2013 at 08:07:18 PM PDT

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      •  We had a stimulus. It failed. (0+ / 0-)

        As predicted, it raised the GDP a few percentage points for a very brief time, then we receded back into near recession.

        To use the word "stimulus" is being dishonest.  Government spending stimulates nothing.  It merely increases GDP for a short period.  If the nearly 1 Trillion dollar "stimulus" would have really stimulated the economy, we should be looking at 5-7% GDP growth.  Instead we are languishing at an anemic rate of 2% or so, which is pitiful.

        Government hiring simply does not work.  The private sector needs to be "stimulated", but Obamacare has effectively prevented that.

        •  Now I see why the Republicans want (1+ / 0-)
          Recommended by:
          grimjc

          immigration reform.  The current Gang of 8 proposal is a creates a worker oversupply for the 1%.  U.S. worker protections are non-existent.

          Adding 33 million foreign workers to this tight job market will be the nail in the coffin to the middleclass.  We will try to remember the good old days when unemployment was only 8%.

          It will just be overlords and serfs.  Democrats are playing right into their hands.

        •  Utter nonsense. (2+ / 0-)
          Recommended by:
          voicemail, Jim P

          The stimulus did exactly what is was supposed to do....
          "it raised the GDP a few percentage points for a very brief time"
          exactly, during the time period when the extra money was spent...... GDP (a measure of all spending) went up correspondingly.  That is exactly what it was supposed to do.  The deficit will have shrunk by about $700 billion by the end of this year and so thats $700 billion fewer newly created dollars into the money supply and economy.  Is it any wonder why the economy is so bad?  The private sector can and should not fuel growth right now by expanding the money supply via new private debt issuance as private debt levels of 300% of GDP or $42 trillion was the cause of the Great Recession in the first place.  

          "The Earth is my country and Science my religion" Christiaan Huygens

          by Auburn Parks on Sun May 05, 2013 at 06:02:59 AM PDT

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        •  Yours isn't a comment. (1+ / 0-)
          Recommended by:
          Jim P

          It's a string of assertions held together by unsupported theories and loose connections. The slash and burn countereffects of cutting local, state, and federal employment is likely the reason for capping GDP effects of the limited stimulus. You know that. Most serious economists agree that the stimulus had exactly predictable, and limited, effects.  

          I'm from the Elizabeth Warren wing of the Democratic Party

          by voicemail on Sun May 05, 2013 at 06:34:08 AM PDT

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        •  The stimulus was insufficient. It did work, for a (0+ / 0-)

          bit, but the President's own council recommended he ask for $1.8T. He settled for about $800B trying to be "practical." Practical would have been asking for $3T and getting it whittled down to what we objectively needed.

          Velocity of money matters.

          The real fix, of course, was to jail organized crime, calling itself Banking. Nationalize the banks after forcing them to do real books, which would show them insolvent (they still are), and rebuilding from there.


          Actual Democrats is the surest, quickest, route to More Democrats

          by Jim P on Sun May 05, 2013 at 01:41:51 PM PDT

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