Michael, try reading Paul Krugman, he is a Nobel Prize winning economist. He will tell you that need to stimulate the economy otherwise it will stall — depression. We can pay off the debt like we did after the Great Depression. This has been done before. Please don’t scare folks who worry about debt.
Just because he got a Nobel Prize doesn’t mean he’s got the right ideas. We’ve TRIED his ideas, and they have failed. The more burden you lay on the economy, the harder it is for that economy to get started again. The last four years are proof of this. Imagine, for a moment, if the federal government had done nothing in the last 4 years. Yes, businesses would have gone bankrupt. But, they would have been purchased by other, healthier businesses or investment firms (like Bain) and they would have been turned around, re-tuned, and re-contracted to turn them profitable. The equilibrium would have been restored, and businesses would be running red-hot right now.Instead, we have a Dodd-Frank bill that suppresses lending, you have Obamacare that scares businesses into not hiring, not expanding. You have other regulatory hurdles in place that are giving businesses incentive to invest in human replacements (i.e. automation) instead of hiring people. You have a tax code that incentivizes dishonesty and punishes success. And you have a president and congress that will seek you out to take what you’ve earned if you ever become “too rich.” Are any of us really surprised the economy hasn’t taken off, given the above truths? Krugman is an idiot, imho, and anyone who follows his line of logic is doomed to repeat the last 4 years.
ninety_nine_percent over 11 years ago
Michael, try reading Paul Krugman, he is a Nobel Prize winning economist. He will tell you that need to stimulate the economy otherwise it will stall — depression. We can pay off the debt like we did after the Great Depression. This has been done before. Please don’t scare folks who worry about debt.
Wraithkin over 11 years ago
Just because he got a Nobel Prize doesn’t mean he’s got the right ideas. We’ve TRIED his ideas, and they have failed. The more burden you lay on the economy, the harder it is for that economy to get started again. The last four years are proof of this. Imagine, for a moment, if the federal government had done nothing in the last 4 years. Yes, businesses would have gone bankrupt. But, they would have been purchased by other, healthier businesses or investment firms (like Bain) and they would have been turned around, re-tuned, and re-contracted to turn them profitable. The equilibrium would have been restored, and businesses would be running red-hot right now.Instead, we have a Dodd-Frank bill that suppresses lending, you have Obamacare that scares businesses into not hiring, not expanding. You have other regulatory hurdles in place that are giving businesses incentive to invest in human replacements (i.e. automation) instead of hiring people. You have a tax code that incentivizes dishonesty and punishes success. And you have a president and congress that will seek you out to take what you’ve earned if you ever become “too rich.” Are any of us really surprised the economy hasn’t taken off, given the above truths? Krugman is an idiot, imho, and anyone who follows his line of logic is doomed to repeat the last 4 years.
J Short over 11 years ago
All the liberals must have slept in today after celebrating last night’s win. Usually 30+ anti Ramirez comments by now.