Dan Wasserman by Dan Wasserman

Dan Wasserman

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  1. Radish

    Radish GoComics PRO Member said, about 3 years ago

    Here’s what Bernanke said about about our cutting-spending problem in his press conference on Wednesday:
    The main drag or the main headwind to growth this year is, as you know, is the federal fiscal policy, which the CBO estimates is something on the order of 1.5 percentage points of growth.
    That’s not exactly the clarion call for future spending cuts that Boehner imagines. It’s a plea, in the understated lexicon of central bankers, to stop maiming the recovery with pointless and premature austerity. But Boehner either isn’t listening or doesn’t understand. He somehow thinks it’s scary that the government has run deficits for 55 of the last 60 years (though not so scary that he didn’t vote for many of those budgets). This is nonsense. As Josh Barro points out, there’s no better proof that we shouldn’t be scared of deficits than the fact that we have run them for 55 of the past 60 years without any problem. As long as the economy grows faster than the debt, there’s no reason we can’t run deficits forever.
    We tried Hoovernomics. It failed. So we’re … trying it again?

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