Dean Baker in The Guardian explains everything economic: the Debt, Social Security, Climate Change, etc.

Baker writes a masterful takedown of all the VSP fog about the need for a Grand Bargain on taxes and earned benefits.

Opening paragraph

Imagine if in response to Japan attacking Pearl Harbor in December of 1941, our political leaders had debated the best way to deal with the deficits from war spending projected for 1960. This is pretty much the way in which Washington works these days.
A bit more of Baker's trenchant prose below the fold.

Baker points out a FACT! Such a liberal thing to do:

If the economy were back near its pre-recession level of unemployment, then the deficits would be close to 1% of GDP, a level that could be sustained indefinitely.
And then points out the hypocrisy of those who bleat about the burdens for our children:
Imagine that we listen to our Campaign to Fix the Debt friends and find a way to pay down the debt while neglecting any steps to curb global warming.

We'll be able to tell our children and grandchildren that they don't have to pay interest on government bonds (they also won't be receiving interest on government bonds, but let's not complicate matters with logic), even as they evacuate their homes ahead of flood waters.

For the next 6 weeks we will be bombarded with more lies just like those we heard in the last 6 months, with the Republican effort to win the bargain after losing the election.

Will the truth stated clearly and concisely by Baker get any attention?

Originally posted to Urban Owl on Sun Nov 11, 2012 at 06:38 PM PST.

Also republished by Social Security Defenders.

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