But more jobs and growth will help reduce the deficit. With more jobs and faster growth, the deficit will shrink as a proportion of the overall economy. Recall the 1990s when the Clinton administration balanced the budget ahead of the schedule it had set with Congress because of faster job growth than anyone expected bringing in more tax revenues than anyone had forecast. Europe offers the same lesson in reverse: Their deficits are ballooning because their austerity policies have caused their economies to sink.
The best way to generate jobs and growth is for the government to spend more, not less. And for taxes to stay low or become even lower on the middle class.
1 posted on
11/18/2012 9:30:05 PM PST by
Beowulf9
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To: Beowulf9
From Clinton’s economist. Tax less, spend more. Oh boy, is THIS going to be a long 4 years.
These guys are so brilliant. /sarc
2 posted on
11/18/2012 9:35:13 PM PST by
Beowulf9
To: Beowulf9
Can’t say I’ve been following Europe closely, but is it a fair comparison? Their economies have been so dependent on government for so long, most of their countries don’t have a strong private sector left. There isn’t much left for government to get out of the way of.
Different here. Obama has just been getting started on crippling the private sector. If the private sector here got a clear signal that the government would be getting out of the way, like with a repeal of Obamacare or a big reduction in the deficit, easing fear of tax hikes in the future, then the private sector would be unleashed at full strength.
3 posted on
11/18/2012 9:38:52 PM PST by
JediJones
(Newt Gingrich warned us that the "King of Bain" was unelectable. Did you listen?)
To: Beowulf9
Sounds like an alcoholic. He is starting to feel sick. Time for another drink.
To: Beowulf9
The liberals have been saying ‘jobs and growth’ are the problem while the debt skyrockets. The problem? Jobs and growth aren’t coming while it skyrockets.
To: Beowulf9
“Their deficits are ballooning because their austerity policies have caused their economies to sink.”
Is this your sentence? If so, you have zero credibility.
6 posted on
11/18/2012 9:48:07 PM PST by
Flightdeck
(My four children have been robbed)
To: Beowulf9
Redistribution Communism File.
7 posted on
11/18/2012 9:48:47 PM PST by
Graewoulf
((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
To: Beowulf9
10 posted on
11/18/2012 10:04:38 PM PST by
mylife
(The Roar Of The Masses Could Be Farts)
To: Beowulf9
It’s impossible - IMPOSSIBLE - for the government to create growth. The government doesn’t PRODUCE anything.
I’m not being hyperbolic. This is the defining distinction between business and government. Business CREATES. Government REGULATES.
To: Beowulf9
Missing barf alert. Then again, the source ought to be enough warning . . .
12 posted on
11/18/2012 10:06:23 PM PST by
Olog-hai
To: Beowulf9
Government spending doesn’t help the economy grow because it’s usually just wasted. Just like Obama’s programs to patch roads that didn’t need patching. It didn’t work for FDR. It won’t work now.
Government spending increases the deficit, which creates inflation as the government struggles to paper over its interest payments on its debts. Runaway inflation will create fiscal uncertainty and we’ll see prime rates back at 18%. Jimmy Carter anyone?
With the states’ and Obama’s taxing and regulatory attacks on business, the 1990’s can’t be repeated. Too many barriers.
What needs to happen is to get rid of the taxes and regulations on businesses all the way back to Clinton’s presidency. Can’t happen with Obama in office.
To: FReepers; Patriots
14 posted on
11/18/2012 10:27:11 PM PST by
onyx
(FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
To: Beowulf9
(Higher taxes on the rich wont slow the economy because the rich will keep spending anyway. After all, being rich means spending whatever you want to spend. By the same token, higher taxes wont reduce their incentive to save and invest because theyre already doing as much saving and investing as they want. Remember: theyre taking home a near record share of the nations total income and have a record share of total wealth.)Wrong.
15 posted on
11/18/2012 10:31:32 PM PST by
TruthWillWin
(The problem with socialism is that you eventually run out of other peoples money.)
To: Beowulf9
So he wants to increase the deficit so that he can reduce the deficit. Probably makes perfect sense to a progresso.
To: Beowulf9
Higher taxes on the rich wont slow the economy because the rich will keep spending anyway. After all, being rich means spending whatever you want to spend. completely wrong and idiotic as shown by the luxury tax fiasco of the early 1990's
To: Beowulf9
Robert “Third” Reich....the scorched earth econodwarf of the Clinton Administration.
19 posted on
11/18/2012 10:59:57 PM PST by
OrangeHoof
(Our economy won't heal until one particular black man is unemployed.)
To: Beowulf9
That is he most idiotic thing I have ever read
22 posted on
11/18/2012 11:11:08 PM PST by
GeronL
(http://asspos.blogspot.com)
To: Beowulf9
We are $16 trillion in debt, officially, this country must be a Garden of Eden!!
23 posted on
11/18/2012 11:11:52 PM PST by
GeronL
(http://asspos.blogspot.com)
To: Beowulf9
26 posted on
11/19/2012 3:08:11 AM PST by
Yo-Yo
(Is the /sarc tag really necessary?)
To: Beowulf9
Someone tell the marxist midget that obama’s plan to tax us individuals and businesses out of an additional %1.6 TRILLION of our income is SURE to create demand, growth and jobs. It just takes a little bit more of our “extra money”
out of our hands- and the economy is in recovery now anyway!
So what can go wrong?
sarc
27 posted on
11/19/2012 3:17:35 AM PST by
silverleaf
(Age Takes a Toll: Please Have Exact Change)
To: Beowulf9
The best way to generate jobs is to reign in the trial lawyers, fire most of the regulators, and stop importing most of our consumer goods.
28 posted on
11/19/2012 3:47:31 AM PST by
freedomfiter2
(Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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