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View Diary: Why are Americans satisfied with economic mediocrity? (30 comments)

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  •  We spin record-breaking income inequality... (4+ / 0-)
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    limpidglass, corvo, janemas, Oaktown Girl

    ...as a "RECOVERY." That is how DINOs--and so many others--revel in economic stagnation. This administration has openly/publicly proclaimed that it specifically supports moderate, Republican economic policy as it existed in the 1980's. That's a travesty unto itself. And, clearly, you think that's just peachy, right?

    "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

    by bobswern on Sun Sep 29, 2013 at 11:25:39 AM PDT

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    •  Obama, on the record, on Reaganomics Dec. 2012... (2+ / 0-)
      Recommended by:
      corvo, Oaktown Girl

      "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

      by bobswern on Sun Sep 29, 2013 at 11:30:24 AM PDT

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    •  I haven't seen the Robert Reich documentary but (0+ / 0-)

      I was on the conference call with him and Dean the other day.  I don't know who this "we" is that's doing the spinning of which you speak.  

      To me this is a matter of perception. With every economic report that comes out the GOP talks about how rotten it is and if the report isn't bad enough for their agenda we get to hear Jack Welch say "Dese numbiz don't smell right."
      At least we have an insight into why Republicans are such a failure with Arithmetic.  They think it's a discipline that involves the use of their noses.

      Everyone knows the recovery is dismal.  And everyone knows that each recovery since 1980 is weaker than the last.  And everyone knows that the weakness is due to the worsening income inequality.  Of course each recovery is weaker than the last.  The question is how to reverse this disastrous course.  I'm not interesting in bickering with my partners especially when they don't bring any constructive ideas.

      There is no existence without doubt.

      by Mark Lippman on Sun Sep 29, 2013 at 12:02:45 PM PDT

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      •  One more thing about Reich and Dean . . . (0+ / 0-)

        I don't agree with the optimism that they expressed but I understand they have to function as cheerleaders.  What else could they say?  Things are terrible.  There's no hope. Abandon ship.  

        There is no existence without doubt.

        by Mark Lippman on Sun Sep 29, 2013 at 12:05:29 PM PDT

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      •  For you to submit that I didn't bring any (2+ / 0-)
        Recommended by:
        psyched, bobswern

        constructive ideas to the debate is actually insulting given the time I spent preparing this post.  The only answer that most progressives have is to keep the deficit relatively stable but tax the rich more and then spend additional money on the middle and working class.  This has failed as a political message.  Its why Dems don't have overwhelming majorities around the country.  Americans, culturally speaking, don't want to pay higher taxes.  I don't blame them.  I don't want to give the Govt more money that it doesn't need and can't use.  If you think Americans are ever going to vote to have European levels of taxing and spending (30%-40%) then you are just flat out wrong.  Robert Reich thinks the Govt must get its own money before it can spend.  He is a classic neo-classical economist in that he views the Govt's budget in the same way as a household budget.  This is obviously false.  The Deficit is key to sustainable private sector economic growth.  

        30% spending and 25% taxing (as a % of GDP) is practically no different than 25% spending and 20% taxing or 20% and 15%.  In all 3 of these examples, the Govt is only adding 5% of GDP worth of new money to the economy.  That number needs to be bigger, there is no way around it.

        MMT = Reality

        "The Earth is my country and Science my religion" Christiaan Huygens. Please join our Kos group "Money and Public Purpose". The gold standard ended on August 15, 1971, its time we start acting like it.

        by Auburn Parks on Sun Sep 29, 2013 at 12:27:21 PM PDT

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