report scams here at scam.com dont get scammed Scams and Scammers - Expose hypocrisy and spread respect ! Don't get ripped off! REGISTER
Go Back   scams > Scam Message Board > Political Chat
Register FAQ Register To Post Member List Promote Search Today's Posts Mark Forums Read
Reply
 
Thread Tools
  #1  
Old 08-01-2011, 05:53 AM
dchristie's Avatar
dchristie dchristie is offline
Challenge Authority
 
Join Date: Mar 2005
Posts: 14,879
Great Appeaser Folds Up Like A Cheap Suit Again

The President Surrenders
** PAUL KRUGMAN
Published: July 31, 2011

http://www.democraticunderground.com...ss=439x1627044


Start with the economics. We currently have a deeply depressed economy. We will almost certainly continue to have a depressed economy all through next year. And we will probably have a depressed economy through 2013 as well, if not beyond.

The worst thing you can do in these circumstances is slash government spending, since that will depress the economy even further. Pay no attention to those who invoke the confidence fairy, claiming that tough action on the budget will reassure businesses and consumers, leading them to spend more. It doesnít work that way, a fact confirmed ** many studies of the historical record.

Indeed, slashing spending while the economy is depressed wonít even help the budget situation much, and might well make it worse. On one side, interest rates on federal borrowing are currently very low, so spending cuts now will do little to reduce future interest costs. On the other side, making the economy weaker now will also hurt its long-run prospects, which will in turn reduce future revenue. So those demanding spending cuts now are like medieval doctors who treated the sick ** bleeding them, and there** made them even sicker.

Make no mistake about it, what weíre witnessing here is a catastrophe on multiple levels.

It is, of course, a political catastrophe for Democrats, who just a few weeks ago seemed to have Republicans on the run over their plan to dismantle Medicare; now Mr. Obama has thrown all that away. And the damage isnít over: there will be more choke points where Republicans can threaten to create a crisis unless the president surrenders, and they can now act with the confident expectation that he will.

In fact, Republicans will surely be emboldened ** the way Mr. Obama keeps folding in the face of their threats. He surrendered last December, extending all the Bush tax cuts; he surrendered in the spring when they threatened to shut down the government; and he has now surrendered on a grand scale to raw extortion over the debt ceiling. Maybe itís just me, but I see a pattern here.

Did the president have any alternative this time around? Yes.

First of all, he could and should have demanded an increase in the debt ceiling back in December. When asked why he didnít, he replied that he was sure that Republicans would act responsibly. Great call.

And even now, the Obama administration could have resorted to legal maneuvering to sidestep the debt ceiling, using any of several options. In ordinary circumstances, this might have been an extreme step. But faced with the reality of what is happening, namely raw extortion on the part of a party that, after all, only controls one house of Congress, it would have been totally justifiable.

And then there are the reported terms of the deal, which amount to an abject surrender on the part of the president. First, there will be big spending cuts, with no increase in revenue. Then a panel will make recommendations for further deficit reduction ó and if these recommendations arenít accepted, there will be more spending cuts.

In the long run, however, Democrats wonít be the only losers. What Republicans have just gotten away with calls our whole system of government into question. After all, how can American democracy work if whichever party is most prepared to be ruthless, to threaten the nationís economic security, gets to dictate policy?

And the answer is, maybe it canít.


.


__________________
"The best case against democracy is a five minute conversation with the average voter"
-- Winston Churchill



Last edited by dchristie : 08-01-2011 at 05:57 AM.
Reply With Quote

Reply

Similar Threads
Thread Thread Starter Forum Replies Last Post
Great Appeaser Folds For Whiny GOP Scumbags Again dchristie Political Chat 5 09-01-2011 12:56 PM
How Sweet It Is--obama Folds, Filth Squeal... pwrone Political Chat 0 12-07-2010 12:19 PM
Cheap, Cheap Division sojustask Political Chat 7 03-19-2010 03:24 PM
Palin folds like a cheap suit! HAHAHA sojustask Political Chat 4 10-09-2008 05:01 AM

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump




This site may contain advice, opinions and statements of various information providers. Scam.com does not represent or endorse the accuracy or reliability of any advice, opinion, statement or other information provided by any information provider, any User of this Site or any other person or entity. Reliance upon any such advice, opinion, statement, or other information shall also be at the Userís own risk. Neither Scam.com nor its affiliates, nor any of their respective agents, employees, information providers or content providers, shall be liable to any User or anyone else for any inaccuracy, error, omission, interruption, deletion, defect, alteration of or use of any content herein, or for its timeliness or completeness, nor shall they be liable for any failure of performance, computer virus or communication line failure, regardless of cause, or for any damages resulting therefrom. Just because a business, person, or entity is listed on scam.com does not necessarily constitute they are scammers. This is a free open forum where people can debate the merits from the consumer's or business owner's perspective. Registration and participation is always FREE.


All times are GMT -5. The time now is 07:12 AM.




Scam.com Is Proudly Hosted By Rackco and Protected By CloudFlare


Scams Message Board - Copyright 2004-2013 Scam.com , All Rights Reserved.