03-20-2012, 06:37 PM
Ted King wrote:
The House Republican budget ideas are essentially "Growth through austerity". Never mind that the countries that have tried to get growth through austerity are failing so the empirical evidence tells us it's a bogus idea - but we can't have reality getting in the way of ideology. Unfortunately, growth through austerity sounds like a good idea in a kitchen table sort of way, so a lot of voters will be attracted to the idea - especially the white winners in the economic competition game. What they should keep in mind is that sitting around the kitchen table trying to figure out a way to deal with a family debt crisis, they don't start by saying, "Let's lose some of the jobs we've been doing." A family losing jobs doesn't help the family in dealing with its debt and going the austerity route that puts people out of work won't help with the national debt situation. It just makes it worse.
agree. Fortunately our Congress is too dysfunctional to actually pass this or any budget, so we'll just carry on as we have without the newer austerity measures, now wrecking havoc in the UK and elsewhere.