This is just complete HORSESHIT. These 'experts' are so engrossed in the mechanics of an impossibly corrupt and bastardized government-economic model, they fail to see their little island is becoming engrossed by a sea of debt.
It is ludicrous to think that severely decreased government spending is a wrench in the gears of the economy, ESPECIALLY for the longer term. This might be a short term effect until a saner spending practice (you know, one where you actually have real money to spend?) is finally forced into play. Government does not produce revenue! They steal it from people and corporations that earn it! Whatever they steal is siphoned off (their 'taste' and the 'taste' for their lazy ass non-working constituents) and what's left over fuels this economy. Government does EVERYTHING it can to cap the economy.
These buttwipes talk just like Junkies rationalizing about how bad it would be to go cold turkey...they cajole and say 'just enough' to keep me straight....."I can taper down..." and all that crap.
"Fed Chairman Bernanke mentioned that might reduce GDP by a full 6%."
We are now wise to the deconstruction of and dynamic definitions of words that the Progressives employ when lying about things such as unemployment, inflation, and budget "cuts". Thus we can expect Bernanke to lie about the GDP to serve his master's interest in destroying the West. If these people lie about most things, why would we ever expect them to the tell the Truth?
Essentially this is a throw-away statement by Bernanke since we don't know if the job of paper shuffling, lawsuits and regulation enforcement is calculated in his definition of "GDP".
Plus, creating legions of jobs for tax and compliance lawyers, HR employees, and industrial engineers to combat the explosion in growth of government interference and crippling of every industry is actually, to them, a good thing - yet might be what Bernanke is including in his definition of "GDP".
Using his logic, we can grow the "GDP", particularly the carpentry, animal shelter, funeral and psychological counseling industries by stepping up SWAT team raids.
Government does not produce revenue! They steal it from people and corporations that earn it!
There in lies the problem. One massive sector in government is the regulation and tax side that actually costs orders of magnitude more than the cost of underwriting the agency - for example the EPA. The budget of the EPA is miniscule compared to the financial havoc that it has caused. The EPA is a major reason why China makes all of our stuff. When a company relocates to anywhere on the planet to escape the nightmare of the Fe'ral Government and their legions of life destroying agencies we can count on more and more formerly productive people joining the ranks of the Takers who have now grown accustomed to leeching off your wallet while producing nothing.
That is why I am utterly convinced that the Ruling class are out to destroy the West in general and he US in particular. No where is there talk about getting rid of Obamacare before its system of roots makes it impossible later to pull. No one among the Ruling Class gives even a moment's though to eliminating or even mildly constraining the EPA, OSHA, FDA, FTC et al. While the Ruling class makes no hesitation to shut down the oil industry slapping a draconian moratorium on drilling, there is never a word breathed to even question the insane dictates of the EPA.
I'm sadly coming to the conclusion that as awful as the French Revolution was, that is preferable to what we are about to become.