Posted on 06/22/2012 8:21:34 PM PDT by NoLibZone
What this report does tell us, however, is that there isn't any evidence that austerity does any good in a situation like ours. If I thought that the U.S. could competitively devalue our currency, run up a huge trade surplus in a global boom, and export our way to breakaway growth, please believe that I would be riding the Austerity Train hanging off the side of the economy car waving Scott Walker banners and whistling the Bill O'Reilly outtro theme. But we're not a small Scandinavian country, and it's not the 1990s, and every other major economy is either decelerating or exploding, and investors are paying us to hold their money. Tell me how austerity leads to growth again?
(Excerpt) Read more at theatlantic.com ...
Newsflash: States with structural economic problems are having to cut spending...developing...
It always feels good to spend other peoples money, no newsflash here.
My state(North Dakota) has an $800 million surplus and we are doing fine
Our unemployment rate is 2.7%
Our state debt is only 6% GDP
Most states are cutting spending because they are broke not because they want to to be fiscally sound.
Which states have cut spending?
Yeah, like California and Illinois. Once again, the Atlantic is a source of infinite liberal navel gazing and circularly purposeless synapse firing and sentential blather, only to arrive at a convoluted conclusion that is so obviously wrong.
According to the report:
Expenditure-cutting states are: Alabama, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Indiana, Kentucky,Maine, Michigan, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, Rhode Island, South Carolina, Vermont, and Washington.
Expenditure-expanding states are: Alaska, Arizona, Arkansas, Idaho, Illinois, Iowa, Kansas, Louisiana, Maryland, Massachusetts,Minnesota, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New York, North Carolina, North Dakota, Oklahoma,Oregon, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, Wisconsin, and Wyoming.
I managed to find it in footnote:
Expenditure-cutting states are: Alabama, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Indiana, Kentucky, Maine, Michigan, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, Rhode Island, South Carolina, Vermont, and Washington.
Expenditure-expanding states are: Alaska, Arizona, Arkansas, Idaho, Illinois, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New York, North Carolina, North Dakota, Oklahoma, Oregon, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, Wisconsin, and Wyoming
See, it’s all the fault of those darned conservatives in Connecticut and California. Now if they only had been more like the liberals in Texas, Oklahoma, and Arizona...
(I know I cherry-picked, but this whole article illustrates what was meant by “There are three kinds of lies: Lies, Damned Lies, and Statistics.”}
But did they decide to cut spending or did their revenges decline?
Cause and effect is flipped.
Many of them have a balanced budget amendment.
Dear Californians and Illinoians:
In my town, we ran into a deficit. For two years we turned out the street lights and recruited volunteers to maintain the city parks. We are now in the black. If you think WE are now going to BAIL YOU OUT, you are wrong.
You’re going to pay every last cent of your incredibly stupid pension debt BY YOURSELVES. If you need a loan, ASK THE UNIONS.
their cutbacks are simply not increasing spending like they planned....
Winner!
That any , let alone so many states “cut” spending without massive drum beating rallies doesn’t jell.
Of course, he’s asking the wrong question by ignoring the alternative. If we don’t cut spending, is there anyone on any planet who thinks we can sustain 1.5 trillion dollars a year in deficits, zero percent interest rates, and double digit money supply growth?
There are two painful alternatives—we can’t undo the debt and deficits already under the bridge—we can only pay them off or inflate them away.
Cutting spending is by far the less painful of the two.
this is another which cave first the chicken or the egg.
the state cuts spending and state gdp dives.
or
the state gdp dives forcing the state to cut spending.
In Greece it is plain and obvious the gdp dived forcing the govt. to cut.
In most of the US states, this is also true.
Delaware’s budget went UP 2%. How is that expenditure-cutting?
I thought they just switched from spending to "charging"...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.