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ROBERT REICH: The Republican Economic Plan Is An Austerity Death-Trap
TBI ^ | 10-19-2011 | Robert Reich

Posted on 10/19/2011 3:56:09 PM PDT by blam

ROBERT REICH: The Republican Economic Plan Is An Austerity Death-Trap

Robert Reich
Oct. 19, 2011, 6:25 PM

Ron Paul’s newly-unveiled economic plan – promising to cut $1 trillion from the federal budget in year one (presumably that means 2013) – is only slightly more ambitious than what we’re hearing from other Republican candidates. They’re all calling for major spending cuts starting fifteen months from now.

What are they smoking?

Can we just put ideology aside for a moment and be clear about the facts? Consumer spending (70 percent of the economy) is flat or dropping because consumers are losing their jobs and wages, and don’t have the dough. And businesses aren’t hiring because they don’t have enough customers.

The only way out of this vicious cycle is for the government – the spender of last resort – to boost the economy. The regressives are all calling for the opposite.

But even without these hair-brained Republican plans, we’re heading in their direction anyway. Unless Republicans agree to a budget deal before the end of the year (don’t hold your breath), the temporary payroll tax cuts and extended unemployment benefits we have now will end.

The result will be the most stringent fiscal tightening of any large economy in the world.

Together with ongoing cuts at the state and local government level, the scale of this contraction will be almost unprecedented.

It will come at a time when 25 million Americans looking for full-time work, median incomes dropping, home foreclosures rising, and a record 37 percent of American families with young children in poverty.

To call this economic lunacy is to understate the point.

And if you think 2011 is bad, you ain’t seen nothin’ yet.

(snip)

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: 999; austerity; collapse; deflation; depression; economy; genocide; paultards; recovery; reddwarf; reich; reichhhhhhhhhh; robertreich
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1 posted on 10/19/2011 3:56:22 PM PDT by blam
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To: blam

mindless midget


2 posted on 10/19/2011 3:57:06 PM PDT by Doogle ((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: blam

did somebody say something?


3 posted on 10/19/2011 3:58:17 PM PDT by the invisib1e hand (...then they came for the guitars, and we kicked their sorry faggot asses into the dust)
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To: blam

Is it me? or does his logic fall short?


4 posted on 10/19/2011 3:58:36 PM PDT by deadrock
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To: Doogle

bearded troll

The Austerity Myth: Federal Spending Up 5% This Year

http://www.freerepublic.com/focus/f-news/2794126/posts


5 posted on 10/19/2011 3:58:36 PM PDT by WOBBLY BOB (See ya later, debt inflator ! Gone in 4 (2012))
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To: blam

Robert “fourth” Reich kisses obozo’s butt to find out the lie of the day.


6 posted on 10/19/2011 3:59:16 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: blam

What are you smoking, Robert?

It just came out that the fed. govt. is going to spend 5% more this year
than last.

What austerity program?

I don’t see any austerity program from Boehner or Mitt Romney
or most presidential candidates except for Ron Paul.

What about going line by line-— When is Barry Obama going to do that?
he said that in Nov. 2008 after elected.

RIGHT robert..........the first of NEVER. Stop spending!


7 posted on 10/19/2011 3:59:27 PM PDT by preamble
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To: blam

Shut up shorty or should I call you Spanky.......


8 posted on 10/19/2011 4:02:16 PM PDT by Gator113 (~ Just livin' life~........ leaning heavy for Newt 2012)
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To: blam

And they call *us* ‘bitter clingers’ — we don’t even come dlose to bitterly clinging like the discredited Keynesians do....


9 posted on 10/19/2011 4:02:16 PM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: blam
It's amazing that the idea of letting people keep and spend their own money is flawed.
And letting a hand full of Politicians spend EVERY DOLLAR of Disposable income so they can grease them selves with the electorate is some how genius.
10 posted on 10/19/2011 4:04:42 PM PDT by Falcon4.0
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To: blam
Bite me, you demented elf.

"But know this, that in the last days perilous times will come: for men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, unloving, unforgiving, slanderers, without self-control, brutal, despisers of good, traitors, headstrong, haughty, lovers of pleasure rather than lovers of God, having a form of godliness but denying its power. And from such people turn away, for his name is Obama."

11 posted on 10/19/2011 4:05:13 PM PDT by Viking2002 (Hippies smell.)
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To: blam

Let there be news and this little turd pops his ugly head up..He must need money..I had forgotten all about these Clinton morons but here they come again..


12 posted on 10/19/2011 4:06:22 PM PDT by PLD
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To: blam
Reich is indeed, a small man.

13 posted on 10/19/2011 4:06:52 PM PDT by oh8eleven (RVN '67-'68)
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To: blam

14 posted on 10/19/2011 4:08:03 PM PDT by nhwingut (Draft Palin '12... For 3rd Party Run)
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To: blam

We should be showing empathy for REICH.

Think about it. You’d be a crazy grump too if you had to go through life breathing air at the same level of everyone else’s butt.

I’ll be he hates “chili day” at the White House.


15 posted on 10/19/2011 4:08:17 PM PDT by Gator113 (~ Just livin' life~........ leaning heavy for Newt 2012)
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To: blam

Let’s see...is this guy the 2nd Reich, or the 3rd?


16 posted on 10/19/2011 4:08:58 PM PDT by Jeff Head (Liberty is not free. Never has been, never will be. (www.dragonsfuryseries.com))
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To: blam
ROBERT REICH: The Republican Economic Plan Is An Austerity Death-Trap

Me thinks this is just an attempt to short the progress of the Republican plan.

Reich is just being small to do such a thing.

17 posted on 10/19/2011 4:10:07 PM PDT by EGPWS (Trust in God, question everyone else)
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To: blam
The only way out of this vicious cycle is for the government – the spender of last resort – to boost the economy.

With what money?

What little Robbie Reichhhhhhhhhhhhh doesn't realize or want to admit is that there is much unpleasantness that lies ahead - no matter what anyone does.

And the longer we put it off, the worse it will be.

18 posted on 10/19/2011 4:10:17 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: blam
But even without these hair-brained

"Hair-brained?" LOL. What an idiot this guy is.

19 posted on 10/19/2011 4:15:00 PM PDT by thesharkboy (<-- looking for the silver lining)
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To: blam

Excuse me, Mr Reich...

Can I call you Bob for short?

Pa-Dum Tshhhhh!


20 posted on 10/19/2011 4:20:08 PM PDT by ROCKLOBSTER ( Celebrate Republicans Freed the Slaves Month.)
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