Want to get rich? Play poker with Obama-you will make a fortune! This so called deal will kill any hope of a recovery. Enjoy life in a totally self created depression, teabaggers. I wish you the joy of Grover Norquist while it lasts.
New York Times columnist Paul Krugman said Sunday that the debt deal will worsen the current unemployment situation and the nation’s long-run fiscal situation.
“From the perspective of a rational person — in other words a progressive — we shouldn’t be talking about spending cuts at all now,” Krugman said during a roundtable discussion on ABCNews’ This Week With Christiane Amanpour. “We have 9 percent unemployment. These spending cuts are going to worsen unemployment. It’s even going to hold the long-run fiscal picture because we have a situation where more and more people are becoming permanent long-term unemployed.”
Krugman’s not alone in his opinion: Last week, economic forecasting firm Macroeconomic Advisors analyzed Republican and Democratic debt proposals and said either plan would significantly slow economic growth if enacted.
“We used to talk about the Japanese and lost decade,” Krugman continued. “We’ll look at them as a role model. They did better than we’re doing. this is going to go on. I have nobody I know who thinks the unemployment rate will be below 8 percent at the end of next year. With the spending cuts it might be above 9 percent at the end of next year. There is no light at the end of this tunnel. We’re having a debate in Washington, all about, ‘Gee, we’ll make the economy worse, but will we make it worse on 90 percent of the Republicans’ terms or 100 percent of Republicans’ terms?’ The answer is 100 percent.”
What is especially frustrating is knowing it does not have to be this way-the fire extinguisher on the increasing debt is within our reach, and we refuse to touch it.Just repealing the Bush tax cuts would stop deficit growth in its tracks. Well thought out spending cuts, including defense-triggered in major part by leaving Afghanistan and Iraq immediately and having a review of our global strategy with an eye to retrenchment-would probably do the rest.
Oh and while you were watching Congress kneel down to the goons in the Tea Party, the FAA has been limping along and the government has been losing 30,000,000 dollars a day in revenue.
It is madness.
Shades of y2K?
A deal will be done by today.
Buy stocks tomorrow.
Government think: lets shut down one of the agencies that MAKE money..Really?
This is your government at work..where is the common sense?
It is GOP think-because they begrudge individual workers the right to freely associate with people in order to advance their interests.
What she said 🙂 .45 ACP and 30-06, not so much of that 9mm stuff… 😉
w/r, SJS
It’s above 9% now. In my area another company shuttered it’s doors on 3 processing plants. Another 1000 workers to the handout line.
BTW, watch for that curtain call picture I told you about several weeks ago.
Why then is the NLRB attempting to prevent a private enterprise (Boeing), from freely associating in deciding whom to hire in order to advance their (Boeings) interest?
The law is on Boeing’s side-even though Boeing is engaging in union busting pure and simple. The [Boeing controversy] really deals with some primal fears not just about competition between the US and other countries for jobs, but between states for jobs,” he says. “To have a labor board in Washington declare that an employer can’t make decisions about plant relocation to people in South Carolina seems like a states’ rights issue, but to people in other states it seems like the [NLRB] is just enforcing the law and preventing an employer from doing something coercive.”
I’d also point out that what Boeing is trying to do is gut wages to enahnce its bottom line and screw over its Washington State employees. If there were uniform labor laws-not differing between states it would go a long way towards ameliorating this controversy.
ameliorating Boeing you idiot which means they’d move offshore! Any kind of a stupid jackass would recognize that. It’s a NO BRAINER. I don’t have to put up with the regulatory bullshit if I build them in Costa Rica.
Except then they can’t sell to the US military
Where in the world did you get that idea? Seriously?
Who won the Tanker competition before fouls were declared? EADS.
The Air Force, hell the whole Defense Department are nothing but whores. Grease them with enough and they’ll suck.
EADS was partnered with Northrop Grumman if you recall and they were going to be produced in Alabama. Outside Mobile. The EADS design was and is the better design.
Which answers the mail how? So Boeing Costa Rica partners with Ruttan’s outfit. It’s just like public contracting where the small business, minority owned, disadvantaged woman vet gets preference and LOCKMART gets all the money. Except, in this case, Boeing would get all the money.
Well-having watched several bids go fleeting-you will get no disagreement from me, but the thing is-these rules were put in place by both the GOP and the Democrats due to things like the Boeing tanker scandal a few years ago.