“If anything, deficits should be bigger than they are”

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  • Fri, Feb 05, 2010 - 10:38pm

    #1

    saxplayer00o1

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    “If anything, deficits should be bigger than they are”

“The point is that running big deficits in the face of the worst economic slump since the 1930s is actually the right thing to do. If anything, deficits should be bigger than they are because the government should be doing more than it is to create jobs.

True, there is a longer-term budget problem. Even a full economic recovery wouldn’t balance the budget, and it probably wouldn’t even reduce the deficit to a permanently sustainable level. So once the economic crisis is past, the U.S. government will have to increase its revenue and control its costs. And in the long run there’s no way to make the budget math work unless something is done about health care costs.

But there’s no reason to panic about budget prospects for the next few years, or even for the next decade. Consider, for example, what the latest budget proposal from the Obama administration says about interest payments on federal debt; according to the projections, a decade from now they’ll have risen to 3.5 percent of G.D.P. How scary is that? It’s about the same as interest costs under the first President Bush.

Why, then, all the hysteria? The answer is politics.”

Link

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I looked at the faces I could use for this and couldn’t find the one where he’s banging his head against a metal post while yelling “No, no, no…make it stop…..please!”….so I had to use this one:Yell

  • Sat, Feb 06, 2010 - 01:29am

    #2
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: “If anything, deficits should be bigger than they are”

Wow.

Krugman’s got to be by far the stupidest smart person I’ve ever seen.

– Nickbert

  • Sat, Feb 06, 2010 - 02:06am

    #3
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: “If anything, deficits should be bigger than they are”

He looks like he has lost is mind in the photo

  • Sat, Feb 06, 2010 - 02:06am

    #4
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: “If anything, deficits should be bigger than they are”

He looks like he has lost his mind in the photo

  • Sat, Feb 06, 2010 - 02:11am

    #5
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: “If anything, deficits should be bigger than they are”

Hard to believe he is considered a briliant economist.  It seems political hack would be a better description.

  • Sat, Feb 06, 2010 - 02:18am

    #6
    Peak Prosperity Admin

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    Re: “If anything, deficits should be bigger than they are”

Jeremy Siegel on the Resilience of American Finance. Professor, Wharton School of Business

http://www.youtube.com/watch?v=v8-c81DYl6o&feature=channel

  • Sat, Feb 06, 2010 - 04:06am

    #7
    Peak Prosperity Admin

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    Re: “If anything, deficits should be bigger than they are”

[quote=saxplayer00o1]

 

I looked at the faces I could use for this and couldn’t find the one where he’s banging his head against a metal post while yelling “No, no, no…make it stop…..please!”….so I had to use this one:Yell

[/quote]+1. If these people did anything like operate, fly, drive trains, ships, anything…. it would be a disaster.

  • Sat, Feb 06, 2010 - 05:20am

    #8
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: “If anything, deficits should be bigger than they are”

To Paul Krugman and many on the left John Maynard Keynes and his economic theories are God and therefore any doubts about Keynesian Economics are simply summarily dismissed.

  • Sat, Feb 06, 2010 - 10:14am

    #9
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: “If anything, deficits should be bigger than they are”

What the hell?

You guys, I agree! 

We need to buy  10 Trillion dollars of solar panels and wind turbines from China with Federal Reserve Notes and then tell them to collect from the Federal Reserve when we turn it into a regular commercial bank.

Energy crisis solved!!     What?  What?Cool

  • Sat, Feb 06, 2010 - 01:46pm

    #10
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: “If anything, deficits should be bigger than they are”

If you look in the dictionary for a definition of being led over a cliff, you will see a picture of Paul Krugman.

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