==========Oh and Dusty the work that I follow are from Dr. Joseph Stiglitz and Dr. Paul Krugman, both winners of the Nobel prize in Economics. But heck, what do they know? They both forcasted the economic collapse years before it happened. They also said that austerity in times of recession was malpractice on the part of politicians. They also said what is happening in Europe, England and Greece that austerity now only benefits Germany and that the ones calling for austerity there were going to make their economy be stagnant or in decline for at least a decade.
Their the ones that said it was especially stupid of us not to take advantage of investors wanting to loan us money at the unheard of rates because they want to park their money in the US as a safe haven. At the low low interest rate those notes would be paying it would be at around 1%.
It's not like we need jobs now or anything since paying down the deficit seems to be of prime importance to you. Seems to me that the only way to get people off of welfare is putting them back to work. It's not like their not going to spend the money they earn off doing those government jobs. Money going into the rest of the economy, by the way. But if you want to follow President Hoover's economic prescription, go right ahead because that is what you are calling for. LOL
Explains a lot. Krugman is nuts. He thinks he has the only worthy theories. Keynesian deficit spending is not an end all in Econ. There are other worthy theories. But anyone who disagrees with his thoughts is seen by him as psychotic.
Krugman as a shrink needs to treat himself.
Keep spending what we don't have without relevant growth will certainly doom this nation. Krugman wants to keep juggling debt payments, but it has already caught up with us.
Do you keep spending ever more than you take in at your hash joint? Does your business keep running bigger and bigger deficits?