Quote:
Originally Posted by spence
No doubt that spending reductions would help with confidence as well as the massive amount of debt service.
Spending reductions have a flip side though as well. Ryan's plans before looked to eliminate 4+ million Government jobs. While that might make the Fed smaller, it also increases the unemployed and weakens the consumer base and shifts burden to the States.
Increasing revenues via taxation doesn't magically fix the problem, but combined with modest cuts can have a meaningful impact that's short-term.
Right now I don't think it's reasonable nor necessary to have a perfect end game solution. We simply need to be moving the ball in the right direction.
-spence
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'No doubt that spending reductions would help with confidence..."
Obama not only doubts that, he denies it.
"While that might make the Fed smaller, it also increases the unemployed "
Spence, if government (feds and local) would loosen the noose around our necks, confidence would grow (as you said), so businesses would take some of that money and grow, and hire many displaced federal employees. The fedweral government was not designed to be a jobs program.
"We simply need to be moving the ball in the right direction."
Well, Obama's idea of "the right direction" seems to be to double-down on failed, expensive ideas. He has added to the debt, failed to curtail unemployment, and done exactly nothing to address entitlement programs (except to demonize those who propose ideas). Spence, how is that "moving the ball in the right direction"?