Ben Bernanke, chairman of the Federal Reserve Board of Directors, told Congress that such massive cuts in government spending would result in a recession because current economic situations are weak. Now the President and Congress are arguing over - get this - cuts to government spending. Apparently they are trying to negotiate cuts in spending that are just different from the cuts they've already passed.
What's the difference? Is it just a matter of degree? If, as Bernanke said, the "fiscal cliff" we might ride over on 12/31/2012 is going to be bad for us, why should we expect that different cuts would be any better? So, we're going to roll down a fiscal hill instead of falling off a fiscal cliff? Seems like much ado about nothing. We're fucked either way.

When the repugicans last controlled the government, they spent like drunken sailors - approving two wars and a new part D for Medicare, none of which they funded. Instead, they cut taxes for the wealthy. The national deficit rose at a much faster rate under the "small government conservatives" than it has under any Democrat.
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