http://topicfire.com/share/Slower-Growt … 25605.html
The most serious long-term threat to the nation's fiscal health is decreasing. Republican policy makers are reportedly panicking as they frantically search for some other way to decry the evils of big government..
~digs through "Atlas Shrugged" for just the right nonsensical and false reality fantasy fiction bit for this situation of utmost importance~
Yes, we almost got down to not growing spending more than gdp... but that doesn't really matter.
This is what matters:
"Medicare costs (including both HI and SMI expenditures) are projected to grow substantially from approximately 3.6 percent of GDP in 2010 to 5.5 percent of GDP by 2035, and to increase gradually thereafter to about 6.2 percent of GDP by 2085."
We're never going to have GDP at 5 percent, at least not as an average. Those future projections in your article don't fit with the trustees report.
If you read the trustees report, they even say that Part B isn't where the costs are going to come from, so it's not the problem. But, we'll pretend that everything is going to be ok.
Everything will be ok. As long as Obama is elected.,
Yes, Obama can raise taxes on the rich(including upper middle class) to pay for the deficit, and spend a few more dozen trillion dollars that the government doesn't have.
People should be able to opt out of medicare and social security.
Given this choice, both systems would fall apart within a decade.
There are REASONS why we implemented this. As usual, you ignore the history behind these programs. These came from real social need.
In Australia you can opt out of medicare any time you want, only a minute fraction of people do and it's only because they are very very wealthy and get a high rate private insurance instead.
Let's see, the stock market is around 13000, private businesses are hiring, the economy is growing and unemployment is declining. This stuff happened because Satan has his sights on America (just ask Rick Santorum)
This is all bad news for Republicans but they have a backup plan.
Don't panic, lets just call their women sluts, stop private insurance from paying for birth control pills and force an ultrasound probe into the vagina of any woman that wants an abortion.
How could they lose with positions like that?
The Austrian Business Cycle explained in relation to your post:
Employment is increasing (maybe: some data shows that most of the lowering of UE is because of people just not looking for jobs anymore). This is because the banks can lend money.
Banks can lend money because they are getting money from the federal reserve.
The fed has money because they create it out of thin air. This leads to inflation.
Price inflation is getting stronger and stronger in the US, but not as high as it should be.
This is because people in Europe are fleeing from the Euro and buying dollars.
--- as inflation increases (it certainly will), businesses will begin to fail because they didn't invest their money expecting higher prices.
then the crash comes.
Welcome to the 1920s Evan, do you have anything from this century?
John Quiggin says the Austrian business cycle theory "hasn’t developed in any positive way" since the 1920's, and has since become "ossified dogma"
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How do you think cutting the federal spending will help the economy?
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