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View Diary: Obama: Extend middle-class tax cuts, forget borrowing for the rich (414 comments)

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    Are you saying that an improving economy will have no impact on deficits ?

    Depends what you mean by "improving economy". An economy dependent on government spending will look "good" but will only rely on massive deficits to survive and will evaporate when they go away.

    If the government creates a WPA for example, sure that will make a "better economy", which depends on increasing debt. When the debt has to paid back the economy will suck more than the original benefit was.

    So you have to be very careful when you talk about what a "good economy" is.

    There is no quick fix, no campaign slogan, no magic wand to create an expanding economy at this point.  There needs to be a point where corporations decide that they can no longer sit on their hands and not expand (which they will) in order to be providing the profits desired by shareholders.

    I believe it is somewhat likely that we never will have anything construed as a robustly expanding domestic American economy ever again, at least in the working lifetime of those reading this.

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Sat Nov 06, 2010 at 02:00:05 PM PDT

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