Posted on 10/02/2009 7:18:31 AM PDT by TigerLikesRooster
Robert Reich: This Is No Time To Worry About Government Debt
Joe Weisenthal|Oct. 2, 2009, 7:09 AM | 350 |12
Echoing fellow traveler Paul Krugman, former Clinton cabinet official Robert Reich is banging the drum on spending:
Let me say this as clearly and forcefully as I can: The federal government should be spending even more than it already is on roads and bridges and schools and parks and everything else we need. It should make up for cutbacks at the state level, and then some. This is the only way to put Americans back to work. We did it during the Depression. It was called the WPA.
Yes, I know. Our government is already deep in debt. But let me tell you something: When one out of six Americans is unemployed or underemployed, this is no time to worry about the debt.
(Excerpt) Read more at businessinsider.com ...
These guys sound quite desperate. I guess they instinctly sense the grave threat to their power base, not that they owned this crisis.
Ping!
So, is Reich basically saying — Although we’d like to pay off the debt ... right now we’re coming up a little short?
translation: 2010 looms closer
“This is no time....” translates to “With this opportunity to destroy capitalism and the American way of life, we shouldn’t let the issue of debt get in the way.”
Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)
Where’s the money coming from, Robert? Do you think China is going to lend Obama all this money without pulling strings in return?
OK. If federal government debt isn’t a problem, why doesn’t the federal government borrow $30 trillion and send every one in the country a check for $100,000?
Yes, the time to worry about debt is 20 yrs after you are dead and your grandkids are slaves to the Chinese.
When one out of six Americans is unemployed or underemployed, this is no time to worry about the debt.
........................
Where the H does he think Americans are going to get the money to SPEND their way out of this mess?????
“When one out of six Americans is unemployed or underemployed, this is no time to worry about the debt.”...
When these idiots get up in the morning do they walk into a few walls to try and clear their minds before going to work?
Sorry Reich!...I’m tapped out...GO TO HELL!
He hasn’t been moonlighting in the Travelocity commercials, has he?
If we should be spending more on roads and bridges and schools and parks, then perhaps more than 7% of that $800 Billion dollar Stimulus should have been going to do just that, instead of going to pad the pockets of already rich Democrats to ensure the election and reelection of even more democrats
Why doesn’t he take out a $100 billion personal loan, give it to the government, and the HE can worry about the debt.
TheNationalDebtRoadTrip Youtube video
http://www.youtube.com/watch?v=P5yxFtTwDcc
Of course the house is responsible for approving spending.
Apparently, Reich’s brain never grew to full size either.
Why not? If we overwhelm the system, and it implodes, we will just replace it with a better, more people friendly ( socialist )system! It’s a win/win for everyone!!! (sarc.)
This is like the homeless, when a Republican is in the White House it is a problem, but not if a Democrat is in the White House. So when Bush was President, the Democrats were screaming about the debt, but now, like magic, it is no longer a problem.
Wow, life must really be easy for a Democrat. All problems solved once your man is in the White House.
These people live in opposite, bass-ackward land.
???
That would just be transferring state and local responsibilities to the federal government, which is the least effective way of doing things.
For every government job created at least 2 are destroyed in the private sector.
“Let me say this as clearly and forcefully as I can: The federal government should be spending even more than it already is on roads and bridges and schools and parks and everything else we need. It should make up for cutbacks at the state level, and then some. This is the only way to put Americans back to work. We did it during the Depression. It was called the WPA. “
What these so called intellectuals are missing (well, commons sense for one) is that when we did this during the Depression, we were the only major power that had the facilities and ability to rebuild what was a destroyed world by WW2. So the economy was cranking in ALL directions, including and most importantly, manufacturing.
Now by building roads and bridges, and ordering everything from everywhere else, you are getting ALL the debt of the projects and only skimming the top with a small amount of work for a small group of people.
“Party like it’s 1979”.
Well, we can’t borrow the kind of money they want to spend. So we’ll have to print it. Not very smart.
Nope, bankrupt the USA is the goal.
Oba-Mao wants the debt to be so high it can never be repaid. Slave to debt, slave to government. Still a slave.
Evryone but the shrimp knows the debt cannot be sustained, so WHY are we throwing more into the fire?
This Is No Time To Worry About Government Debt
Right, a Dem is in the White House.
” the national debt will continue to climb and the closer that we come to communism. “
the national debt will continue to climb and the closer that we come to a subsistence barter economy....
We’ve got a real chance, here, of having to start over from (appropriately) Zero.....
Or perhaps he is worried about not having adequate standing in the court of public opinion.
Unfortunately, he is right. The gov’t is the only place for demand of level needed to come from.
parsy, who don’t like it, but thinks its true
“The market”? Oh, you mean fraud street? Well sure, when The Fed buys up a trillion dollars of questionable assets, including those that have a near-certainty of monstrous losses, thereby overpaying for them and spitting out printed money, you can expect some of it will go into the stock market - and it did.
In other words, with the ship going down, this is no time to worry about the sharks.
this is what passes for an economics education in the Ivy League?
It’s never a good time to worry about the debt for politicians.
Tee hee.
Or is he saying that the threat posed by the deficit is dwarfed by the threat from unemployment?
Cheers!
Cue Rick Santelli, and I don’t remember his exact words but they were to the effect, “If deficit spending is good for the economy, why don’t we spend a trillion dollars a minute until we are all rich.”
He has a way of cutting through the BS.
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