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View Diary: Did you really think Republicans were the only BIG LIARs? (70 comments)

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  •  What point are you trying to make here? (4+ / 0-)
    Recommended by:
    Ian S, jellyyork, PhilK, kkkkate

    That Simpson-bowles is a good idea?

    Deficit reduction during a depression is stupid and counterproductive.

    The Govt's deficit = The non-Govt's surplus

    So the only rational reason to ever proactively cut the deficit is when the private sector has too much income and IT is driving inflation.

    Do you think the private sector has too much income right now?

    Do you think 2% inflation is too high?

    If not, then Dems are supporting Con policies that hurt the economy by definition when they propose ways to shrink the deficit..

    "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

    by Auburn Parks on Wed Mar 26, 2014 at 06:11:47 AM PDT

    [ Parent ]

    •  my point (6+ / 0-)
      You remember Simpson and Bowles, the bought-and-paid-for flunkeys hired by Obama to come up with a really big austerity deal, that would guarantee a huge widening of the gap between the rich and the rest.
      introducing single payer achieves quite the opposite.

      still, S-B went nowhere; its own committee didn't even vote it out.  but by all means, let's keep hyperventilating over something that never happened.

      Please don't dominate the rap, Jack, if you got nothin' new to say - Grateful Dead

      by Cedwyn on Wed Mar 26, 2014 at 06:18:24 AM PDT

      [ Parent ]

      •  Why do you think the private sector has too much (4+ / 0-)
        Recommended by:
        katiec, jellyyork, PhilK, kkkkate

        income right now and so the deficit needs reducing?

        "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

        by Auburn Parks on Wed Mar 26, 2014 at 06:20:39 AM PDT

        [ Parent ]

        •  inappropriate (1+ / 0-)
          Recommended by:
          trumpeter

          violation of DBAD rule

          •  Do you view all comments that you disagree (2+ / 0-)
            Recommended by:
            kkkkate, katiec

            with as "inappropriate"?

            As a matter of fact and simple accounting. When the Govt spends more money than it taxes, the private sector is left with the size of the deficit as a NET positive wrt financial assets.

            So if you want to shrink the deficit, then by definition (not my opinion), you want to shrink the NET income of the private sector.

            There may be situations when this is called for, 10% unemployment and a depression are not those situations.

            "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

            by Auburn Parks on Wed Mar 26, 2014 at 10:20:31 AM PDT

            [ Parent ]

      •  Private Domestic Income = Gov Spending minus (2+ / 0-)
        Recommended by:
        jellyyork, kkkkate

        Foreign Trade.

        To put it slightly differently:

        Public Sector -1  =  (Domestic Private +1/2) - (Foreign Trade Deficit +1/2)

        Public Sector Surplus while running a Foreign Trade Deficit looks like this:

        Public +1  =  (Domestic -2)  -  (Foreign +1)

        Where the foreign trade sector includes domestic multi-national corps who conduct foreign trade.

        Hear that sucking up and out sound?

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