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Why We Should Stop Obsessing About The Federal Budget Deficit
http://robertreich.org/ ^ | November 18 2012 | Robert Reich

Posted on 11/18/2012 9:29:56 PM PST by Beowulf9

wish President Obama and the Democrats would explain to the nation that the federal budget deficit isn’t the nation’s major economic problem and deficit reduction shouldn’t be our major goal. Our problem is lack of good jobs and sufficient growth, and our goal must be to revive both.

Deficit reduction leads us in the opposite direction — away from jobs and growth. The reason the “fiscal cliff” is dangerous (and, yes, I know – it’s not really a “cliff” but more like a hill) is because it’s too much deficit reduction, too quickly. It would suck too much demand out of the economy.

(Excerpt) Read more at robertreich.org ...


TOPICS: Miscellaneous; News/Current Events
KEYWORDS: budget; deficit; federal; robertreich
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To: Brooklyn Attitude

Very true. All government workers are paying their taxes with the money of those who produce who paid taxes and hence, their salary.


41 posted on 11/21/2012 3:16:08 AM PST by fortheDeclaration (Pr 14:34 Righteousness exalteth a nation:but sin is a reproach to any people)
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