Posted on 02/21/2010 12:36:00 AM PST by TigerLikesRooster
From The Sunday Times
February 21, 2010
Angry voters will force action on runaway deficit
Irwin Stelzer: American Account
So all is coming right. Sales of existing homes in the final quarter of last year were 27.2% above the 2008 level. Home construction jumped 2.8% in January, to its highest level in six months. The mining, manufacturing and utilities sectors also grew at satisfactory rates as did retail sales.
So confident is the Federal Reserve in the recovery that it has raised a key interest rate.
Alas, every silver lining has a cloud in the case of the American economy, several. For one thing, the fiscal deficit, which is fuelling some of the growth, is clearly unsustainable. Even under the rosy scenario posited by the president economic growth at about twice the rate the non-partisan Congressional Budget Office is predicting the deficit will still be unsustainably high, and rising, in 2020.
Congress knows this, the president knows this, and the opposition knows this. But the Democrats want to fill the gap by raising taxes, anathema to Republicans, who fear such a move would stifle growth by reducing entrepreneurs incentive to create new businesses and jobs. The Republicans want to cut spending, a move the Democrats say would stifle growth by prematurely withdrawing a prop from a fragile recovery.
(Excerpt) Read more at business.timesonline.co.uk ...
P!
Raise taxes or don’t raise taxes. Never a mention of cutting expenditures and returning to constitutional government, as if the citizens of the United States are nothing more than a herd of sheep to be shorn or not shorn, at the whim of Farmer John in congress.
Bah, bah, bah... one wonders what the Founders would think of their experiment in self-government.
“Angry Voters...” will vote.
I’m getting tired of this “angry” meme of the left. There are two kinds of Americans...ones who are angry at what Obama is doing to the nation and those who are too apathetic to pay attention or care.
“never a mention of the seething, hatful, divisive, and slanderous democrats.”
and they’re hateful too.
Angry voters are no match for government-funded welfare queens such as ACORN and their government supported cheerleader in chief Obama.
bttt
The private sector has generally corrected itself to account for recession. The public sector has not. The economy cannot fully recover until the government bubble bursts.
I say orange jump suits for them all come November! These criminals need to be held accountable!
Government cannot create anything.
Government creates a lot of misery and debt.
LLS
Pugetsoundsoldier has a great plan that is politically palatable to the mushy middle needed to hold majorities and would do so over decades giving conservatives a chance to walk the pony back into its Constitutional boundaries.
PSS would you mind posting it again?
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Interesting piece. An analogy...During an attack is returning fire ‘anger’? Some shots may be fired because you’re ‘mad as hell, and not going to take it any more’....most simply due to the common sense response of self preservation, practically none ‘in anger’. So, nope ‘anger’ ain’t the cause.
***Of course, THE FLEABAG, up-obama’s-@$$ journalists make it daily fare to follow their messiah’s marching orders and try to turn the Tea Party movement into a bunch of low brow, IRS hating, knuckle-dragging, KKK members...but it ain’t working.***
You Sir, have just coined a wonderful description of the Dems and their cronies.
*******************FLEA BAGGERS***************
How to Solve the Deficit with No Pain.
I believe it's a politically viable solution. No new taxes, no creation of new Federal department (conservatives at least satisfied, if not happy), no cutting of any programs and allows the programs to grow per inflation and population (liberals at least satisfied).
Let the history of GDP growth exceeding inflation plus population growth, and use Hauser's Law to grow ourselves out of the deficit.
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