This is an interesting article - but the USA’s economy wouldn’t be in such bad shape now if politicians had followed simple, effective strategies to get things going again, like the Keystone XL pipeline (for one example). If the economy were in better shape, tax revenues would be higher and the government would’ve gotten its fill and there would be no talk of this sequester/default nonsense. Instead, we have lawyer Lew in charge of Treasury where his first order of business - if given the chance - would be default and the resulting chaos. The Republicans knew this and didn’t want to give obozo the option, so they caved ... what a mess!
So you’re saying the government should come up with economic policies and solutions rather than industry? Like, what health care?
Government just needs to get the H out of the way. Industry knows how to build a pipeline and where to put it. Govt does not.
And Lew would not default because the Fed Res. banks would have jacked interest rates and no one would buy T-bills. This would make it nearly impossible to finance govt. deficit spending thereafter. Default would be the LAST thing the deficit spending politicians would do. It’d cut them off from the public till. Without money to pass around their careers collapse.
“If the economy were in better shape, tax revenues would be higher and the government would’ve gotten its fill and there would be no talk of this sequester/default nonsense.”
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You have not listened closely to der Fuhrer, der Fuhrer explained recently that all we need to do is hire more government employees because they would pay taxes on their income and reduce the deficit. Now I admit to having trouble understanding complicated financial reasoning so I find it best to simply accept der wisdom of der Fuhrer as he reveals it. Apparently what we need to do is put EVERY American on the government payroll, surely this would allow us to eliminate the deficit and pay off the national debt very quickly.
Excuse me now please, I must go back to drinking Thunderbird and sniffing lacquer thinner.