2:09 am, July 13, 2014

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  • "save the nation from going over a year-end "fiscal cliff""???
    Mc
    "save the nation from going over a year-end "fiscal cliff""??? The problem isn't going over the cliff. The problem is the debt. How do you "save the nation" by going more deeply into debt? You don't. You merely kick the can down the road and that leads to downgrades in credit ratings. And yes, so does going over the cliff. Then obviously its better to have less debt if we get downgraded either way. Yes, a little debt is good, as Keynes said. But a LOT of debt is not good. Period. "Growing out of this" isn't possible with this debt. You have to cut spending. Raising taxes a bit is fine but it doesn't even begin to put a dent in the debt. The U.S. has a higher debt to GDP than Spain. SPAIN.
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