Obamatrons: He has no idea what to do

[Anonymous]

From the thread title: "He has no idea what to do."

As a liberal pragmatist, I couldn't agree more:

http://economistsview.typepad.com/economistsview/2011/07/the-presidents-press-conference-the-disappointing-embrace-of-job-killing-austerity.html

[Anonymous]

Anonymous wrote:From the thread title: "He has no idea what to do."

As a liberal pragmatist, I couldn't agree more:

http://economistsview.typepad.com/economistsview/2011/07/the-presidents-press-conference-the-disappointing-embrace-of-job-killing-austerity.html

Extended debt spending didn't work in Japan.

Why would it work here (where our debt is much more financed from abroad)?

Not saying that austerity is a cure-all (it did seem to not hurt so much in Canada in the 1990s and in some Scandinavian countries), but neither is MOAR SPENDING.

[Anonymous]

Anonymous wrote:Extended debt spending didn't work in Japan.

You'll have to flesh this out a bit. Particularly the bit where Japan engaged in "extended debt spending", which sounds like pseudo-economic clap-trap.

http://www.bloomberg.com/news/2011-06-20/professor-bernanke-warning-of-japan-paralysis-meets-fed-chief-facing-same.html

[jsteele]

Anonymous wrote:
Extended debt spending didn't work in Japan.

Actually, it did. The "lost decade" was due to following policies similar to those advocated by Obama and the Republicans now. Japan was finally able to move beyond it's economic problems by engaging in significant deficit spending.

[Anonymous]

Great overview of the issues, and the frightening wrong-headedness of the Administration:

http://rortybomb.wordpress.com/2011/07/07/why-is-the-obama-team-embracing-hooverism/

[Anonymous]

I'm a right-leaning independent. It absolutely makes me sick that the idiots Cantor and McConnell are going to miss out on this opportunity. Obama's "grand deal", assuming the truth is anywhere close to advertised, is a once in a generation chance. True reform to Medicare and SS that will be very hard to reverse later. True discretionary spending cuts that will be somewhat difficult to reverse depending on future elections. An extension of the Bush tax cuts that are no guarantee depending on who wins the 2012 elections, etc.

In return, the tax increases are SO minor. Much less I believe that the costs of non-extending the Bush tax cuts. You get these opportunities once a generation or so. Reagan seized his, and fixed SS for 40 years in the process, and also raised taxes. Big whoop. Taxes are fairly low right now, but are inevitably going to have go up a little bit to get our way out of this hole - key thing is to put the tax increases off until 2013 or so.

[Anonymous]

I am so in the middle here. I agree increasing taxes in necessary, but cut the spending too. I have a problem with increasing taxes without scrutinizing our spending habits. And the way this is playing out is tantamount to class warfare. It's easy for the dems to say tax the rich!!! but that isn't going to be enough to solve the problems. And the reps need to stop trying to sell that lower taxes increase jobs. Hasn't worked so far. Adopt the bi-partisan commission's plan. Quit with the politics. Be adults, bite the bullet, and fix the long term problems. Stop promising the masses they won't have to sacrifice. Everyone needs to understand the problems is theirs. Or we'll end up like Greece.

I want the problem fixed, regardless of who wants to win the next election.

[Anonymous]

Anonymous wrote:I am so in the middle here. I agree increasing taxes in necessary, but cut the spending too. I have a problem with increasing taxes without scrutinizing our spending habits. And the way this is playing out is tantamount to class warfare. It's easy for the dems to say tax the rich!!! but that isn't going to be enough to solve the problems. And the reps need to stop trying to sell that lower taxes increase jobs. Hasn't worked so far. Adopt the bi-partisan commission's plan. Quit with the politics. Be adults, bite the bullet, and fix the long term problems. Stop promising the masses they won't have to sacrifice. Everyone needs to understand the problems is theirs. Or we'll end up like Greece.

I want the problem fixed, regardless of who wants to win the next election.

All that's great, but why would be be pursuing anti-stimulative policies in the midst of 10% unemployment, and negligible inflation. Americans are so incredibly short-sighted: during the boom years, we fritter our wealth away on shit, and during the recessionary times? Oh noes! Time to trim everything.

You guys are like someone out of work, and out of money, who sits on the couch all day watching TV because going on job interviews would cost money.

[jsteele]

Anonymous wrote:Adopt the bi-partisan commission's plan.

There is no bi-partisan commission plan. The commission could not agree on a plan. The co-chairmen, a rightwing Republican and a rightwing Democrat, released their own plan. That plan should not be confused with a non-existant Commission plan.

The idea of compromise solution is attractive, but you have to deal with specifics. What do you actually want to cut? Even the Republicans currently negotiating with Obama have been unable to come up with a list of cuts that add up to the amount they want to cut.

[Anonymous]

jsteele wrote:

Anonymous wrote:Adopt the bi-partisan commission's plan.

There is no bi-partisan commission plan. The commission could not agree on a plan. The co-chairmen, a rightwing Republican and a rightwing Democrat, released their own plan. That plan should not be confused with a non-existant Commission plan.

The idea of compromise solution is attractive, but you have to deal with specifics. What do you actually want to cut? Even the Republicans currently negotiating with Obama have been unable to come up with a list of cuts that add up to the amount they want to cut.

Just because politics keeps them from cutting what they should doesn't mean they shouldn't try. Just like when your household budget runs awry, you cut back until you can find a better paying job. Think of the cuts as cutting spending in the federal government and the better paying job as the taxes you want to collect. As far as I am concerned, they aren't trying. Greece is actually trying these days, and I am sorry, but it might just hurt. I just don't get this crap - like in December when Congress and the President made the wonderful decision both to cut taxes (payroll and extending full bush tax cuts) and to spend more. It was outrageous. Everyone needs to suck it up. Really.

[jsteele]

Anonymous wrote:
Just because politics keeps them from cutting what they should doesn't mean they shouldn't try. Just like when your household budget runs awry, you cut back until you can find a better paying job. Think of the cuts as cutting spending in the federal government and the better paying job as the taxes you want to collect. As far as I am concerned, they aren't trying. Greece is actually trying these days, and I am sorry, but it might just hurt. I just don't get this crap - like in December when Congress and the President made the wonderful decision both to cut taxes (payroll and extending full bush tax cuts) and to spend more. It was outrageous. Everyone needs to suck it up. Really.

Which cuts do you support? In particular, list those that will affect you personally.

[Anonymous]

jsteele wrote:

Anonymous wrote:
Just because politics keeps them from cutting what they should doesn't mean they shouldn't try. Just like when your household budget runs awry, you cut back until you can find a better paying job. Think of the cuts as cutting spending in the federal government and the better paying job as the taxes you want to collect. As far as I am concerned, they aren't trying. Greece is actually trying these days, and I am sorry, but it might just hurt. I just don't get this crap - like in December when Congress and the President made the wonderful decision both to cut taxes (payroll and extending full bush tax cuts) and to spend more. It was outrageous. Everyone needs to suck it up. Really.

Which cuts do you support? In particular, list those that will affect you personally.

I don't think these are even cuts though, they are cuts in the increases in the budget. Certainly not cuts over the budget pre-stimulus.

But its hard to cut discretionary spending too much. The cuts would mostly have to be Defense, SS and medicare. Perhaps freeze discretionary spending for 3 years, then limit increases to the rate of inflation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am so in the middle here. I agree increasing taxes in necessary, but cut the spending too. I have a problem with increasing taxes without scrutinizing our spending habits. And the way this is playing out is tantamount to class warfare. It's easy for the dems to say tax the rich!!! but that isn't going to be enough to solve the problems. And the reps need to stop trying to sell that lower taxes increase jobs. Hasn't worked so far. Adopt the bi-partisan commission's plan. Quit with the politics. Be adults, bite the bullet, and fix the long term problems. Stop promising the masses they won't have to sacrifice. Everyone needs to understand the problems is theirs. Or we'll end up like Greece.

I want the problem fixed, regardless of who wants to win the next election.

All that's great, but why would be be pursuing anti-stimulative policies in the midst of 10% unemployment, and negligible inflation. Americans are so incredibly short-sighted: during the boom years, we fritter our wealth away on shit, and during the recessionary times? Oh noes! Time to trim everything.

You guys are like someone out of work, and out of money, who sits on the couch all day watching TV because going on job interviews would cost money.

I am the PP, and I agree with you. But we seem to want to spend at the same levels we did in the boom years, but fail to see there is no money to spend because the tax base has contracted (whether you implement class warfare or not, even those of $250K/yr can't pay enough in taxes to bail us out). The damn politicians just want to please their base so they can get re-elected. None of them has any courage.

[Anonymous]

jsteele wrote:

Anonymous wrote:
Just because politics keeps them from cutting what they should doesn't mean they shouldn't try. Just like when your household budget runs awry, you cut back until you can find a better paying job. Think of the cuts as cutting spending in the federal government and the better paying job as the taxes you want to collect. As far as I am concerned, they aren't trying. Greece is actually trying these days, and I am sorry, but it might just hurt. I just don't get this crap - like in December when Congress and the President made the wonderful decision both to cut taxes (payroll and extending full bush tax cuts) and to spend more. It was outrageous. Everyone needs to suck it up. Really.

Which cuts do you support? In particular, list those that will affect you personally.

So let me get this right, you are suggesting there are no cuts to be made? Taxes are the only answer?

Give me a copy of the spending plan, and I'd be happy to take a red pen to it. Right now, it's all just political hype.

[Anonymous]

Anonymous wrote:

jsteele wrote:

Anonymous wrote:
Just because politics keeps them from cutting what they should doesn't mean they shouldn't try. Just like when your household budget runs awry, you cut back until you can find a better paying job. Think of the cuts as cutting spending in the federal government and the better paying job as the taxes you want to collect. As far as I am concerned, they aren't trying. Greece is actually trying these days, and I am sorry, but it might just hurt. I just don't get this crap - like in December when Congress and the President made the wonderful decision both to cut taxes (payroll and extending full bush tax cuts) and to spend more. It was outrageous. Everyone needs to suck it up. Really.

Which cuts do you support? In particular, list those that will affect you personally.

So let me get this right, you are suggesting there are no cuts to be made? Taxes are the only answer?

Give me a copy of the spending plan, and I'd be happy to take a red pen to it. Right now, it's all just political hype.

I think Steele's point is that you need to say what they are, and how much you will save. Here it is: http://www.gpoaccess.gov/usbudget/

Write back with your cuts.