The economy is in a ditch. Should governments be spending or cutting to help get it out?
Much of the focus recently has been reducing government debt. But if the weak economy is on the verge of falling further, should government be spending more in the short term? What would you do?
There is no easy answer....... the world economy is in such a state of confusion no two economists can agree on a solution.
What we need is a complete shift in human consciousness...
When 80% of the worlds wealth is controlled by 10% of the population what we have is a dictatorship in disguise.
That problem has to be addressed first and foremost. Mankind needs to shift - there is abundance in the universe so mankind needs to start learning to "Give up the struggle to survive and learn to love life and love living."
Unless we move in that direction - the current economic systems (globally) will continue to feed the rich - starve the poor and eliminate the middle class everywhere.
my hub Middle Class to Zero shares more on this topic.
The economy is in the ditch because government has spent far too much for far too long and there comes a time, no matter how big you are, when you can no longer continue to spend. That is where we are. We must cut spending, even though it will involve real pain in the short term. The only other alternative is to print money, which will eventually destroy the currency and cause far more pain in the long term.
There is good spending and bad spending. Good spending would entails investing in programs that would create jobs and spur the economy. Bad spending is spending a billion dollars a month in 2 wars, and sending aid to countries like Pakistan that are screwing us over every chance they get. We give way too much free money to other countries when we need to start keeping that money here in the US. Bad spending is over paying these politicians when they vacation 1/2 the year. We need a president that is going to put his foot down and make real change.
It should be cutting on war and war materiel and should be spending on infrastructure; which will save $10 on something worthless in order to spend $5 on something useful
by John 5 years ago
How do you think cutting the federal spending will help the economy?
by Ross Harrison 6 years ago
What are your ideas for the best way out of this economic mess?Sometimes I think the people in government are no more qualified to handle the economy than the average layman. Lets see what solutions you can come up with. Together we can make a difference!
by Ralph Deeds 9 years ago
Paul Krugman's column in the NYTimes today 1-5-08 is entitled "Fighting Off Depression." In it he called the recent economic numbers "terrifying," not just in the U.S. but around the world. Manufacturing in particular is plunging everywhere; banks aren't lending; businesses and...
by Steven Dison 5 years ago
Should there be more cuts to budget in the short term, even with the threat of austerity looming?
by abbated 8 years ago
please explain anyone explain how government spending can help the economy get out of a recession ?
by JON EWALL 6 years ago
When will President Obama tell the people his plan to change the economy around?
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