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Ben Bernake warned Congress today that the sequester spending cuts "would threaten an already challenged economic expansion," and added that, "The Congress and the administration should consider replacing the sharp, frontloaded spending cuts required by the sequestration, with policies that reduce the federal deficit more gradually in the near term but more substantially in the longer run."
Ben Bernake warned Congress today that the sequester spending cuts "would threaten an already challenged economic expansion," and added that, "The Congress and the administration should consider replacing the sharp, frontloaded spending cuts required by the sequestration, with policies that reduce the federal deficit more gradually in the near term but more substantially in the longer run."
Quote:
"The budget deficit isn’t our biggest problem, by a long shot. Furthermore, it’s a problem that is already, to a large degree, solved. The medium-term budget outlook isn’t great, but it’s not terrible either — and the long-term outlook gets much more attention than it should."
Exactly. And Krugman also refers to a study by the non-partisan CBO budget office showing that:
"after taking into account the spending cuts agreed to in 2011, amounting to almost $1.5 trillion over the next decade; and the roughly $600 billion in tax increases on the affluent agreed to at the beginning of this year, it projects that the ratio of debt to G.D.P., the standard measure of America’s debt position, will be only modestly higher in 2022 than it is now.
The center calls for another $1.4 trillion in deficit reduction, which would completely stabilize the debt ratio; President Obama has called for roughly the same amount. Even without such actions, however, the budget outlook for the next 10 years doesn’t look at all alarming."
Hardly. The GOP, the current leadership if the GOP, promotes Anti-American proposals. They're the American Taliban. Domestic terrorists.
George Washington was a domestic terrorist. I like the company!
LOL!
Hey Einstein....
How does if feel to be beat at your own game?
As a Conservative, the idea is to cut spending. Sure the majority of the GOP signed it. Why wouldn't they. Obama signed it, why??? He surely doesn't want to cut spending and he is the one squacking loud. The GOP is getting exactly what they wanted. A cut in additional Federal Government spending.
If you have not been paying attention, the GOP has been shouting cut spending at the top of their lungs. Well guess what. Obama has been trapped into doing just that!!
Cuts are needed to our federal spending. Democrats got their tax increases, now it's time to pay the piper on the other side of the aisle and stop the gravy train in DC.
While the Democrats look at this whole issue as a way to drum up support against the GOP citing polls and charts where blame would be cast, and posing wild and uninformed sensationalist end-of-world scenarios for sequestration effects, the GOP is (hopefully) standing firm regardless of what's popular and will see these cuts through.
Democrats, this is $85 billion out of $3+trillion in spending, quit complaining, quit whining, quit LYING, and grow up.
We need to stop republican tax cuts that created our deficits to start with.
Then we need to realize Fox news is telling its listeners 100's of lies.
Lies like "the democrats are the big spenders."
Then we need to stop republican trickle down economics, and raise billionaires tax rates above 17%.
Then we need to educate you, about how that gravy train keeps your family safe. That gravy train is paying your families unemployment benefits, Social Security, giving them insurance, giving them safe food, and welfare is stopping a whole bunch of poor people from doing crime.
But since your a Fox news follower, Fox news has already told you what needs to be done.
And what are you gonna do ??
And since your tax cuts decrease government revenues, the government will not have the money to fund government services for your family. So your gonna talk about needing to cut government spending.
Then your gonna talk about things like, CEO's "rights" to pay their workers low wages.
And then its more tax cuts for the rich, and then its more budget cuts.
Last edited by chad3; 02-27-2013 at 05:54 AM..
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