Wednesday, November 10, 2010

Jabberwocky

Fascinating that the Deficit Reduction Commission set up to study how to reduce the debt from 13.8 Trillion as well as the Trillion dollar deficit, has proposed a plan that:
1. They say cannot be passed.
2. Still will not result in a balanced budget.
3. Only reduces the deficit by .75T and the debt by not one penny.

Now, I am one of those 7 Billion people on this swirling orb we call Earth, who does not understand the fine art of MACRO-economics, but, I say this: Everyone who thinks we can reduce spending and get ourselves out of this horrible economy that Bush and the Democratic Congress created in 2003- 2010, is nuts! This includes every politician -- evidently, every Republican just elected, and some of the Democrats -- who is calling for "lower spending and no new taxes!"

We are living in monumentally corrupt times. When I peer through my future scope, I see violence on a MACRO-scale. As the middle class dwindles and the wealthy class gets wealthier, there will be big trouble.


10 comments:

BILL said...

As always I enjoy reading Birches, however I am beginning to feel that there may be a left leaning, Democratic Party supporting dominance in the editorials and comments. Of course I may be wrong. However I will keep reading to see if there is more evidence to support or counter this thought.

Bill

Bud said...

Left leaning, definitely. Democratic Party, definitely NOT.

I'm beginning to recognize that I also have a strain of Libertarianism.

Bill said...

It is good to see that Bud is maturing and showing the wisdom of age. Hopefully some day there will be a majority of moderates and independents instead of a small percentage.

Sparty said...

What is an independent? My experience has been that those who vote most of the time for one party but occassionally for a candidate from the other party will call themselves independents. Are they really independent or are they kidding themselves?

Bud said...

Perhaps Bill ha slightly misunderstood what I'm saying. I don't think of myself as a moderate.

Irish Mike said...

Maybe if Dems would have been bragging about their accomplishments instead of running from them. Ezra Klein in this week makes a good argument in this weeks Newsweek. http://www.newsweek.com/2010/11/06/klein-the-do-lots-111th-congress.html

Mike

Bud said...

SPARTY sends this from Nobelist Krugman.

Unserious People:
OK, let’s say goodbye to the deficit commission. If you’re sincerely worried about the US fiscal future — and there’s good reason to be — you don’t propose a plan that involves large cuts in income taxes. Even if those cuts are offset by supposed elimination of tax breaks elsewhere, balancing the budget is hard enough without giving out a lot of goodies — goodies that fairly obviously, even without having the details, would go largely to the very affluent.
--Paul Krugman

Irene said...

I just heard on BBC radio that the new conservative government is going to "streamline" the welfare system and get people into work. One problem - there are no jobs.

Bud said...

In the US, employers tend to shove workers over 55 out the door, or buy them off to quit; and the employers are certainly not going to hire people over 50 or so. Now, where will we employ all these 66-69 year olds we want to dump on the job market?

Alice said...

Good question. I couldn't even get a seasonal part time at Baynes Apple gift store when they were hiring 18 people; even though I have years of retail experience, have won numerous awards for sales ability and PR. Oh, and did I say I happen to be 68 years old. I wouldn't even qualify for SS under the new proposal.