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Thread: Economy's Biggest Drag Right Now Is Government

  1. #51
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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by Hare View Post
    As opposed to? What school of thought has the U.S. subscribed to for decades? There are far too many factors at play in Europe to lay the blame at the feet of any single ideology or particular group.
    No, I think you can pretty much lay the blame at the feet of the advocates of the welfare state. The factors at play in Europe are debt, mainly. And the inability and lack of political will to deal with it.

  2. #52
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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by Fletch View Post
    No, I think you can pretty much lay the blame at the feet of the advocates of the welfare state. The factors at play in Europe are debt, mainly. And the inability and lack of political will to deal with it.
    Why equate the welfare state with keynesian economic policies? The two aren't necessarily synonymous. Some of our greatest periods of success and lowest percentages of both debt and unemployment coincided with the implementation of keynesian policies.
    Last edited by a351; 04-29-12 at 10:43 PM.

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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by j-mac View Post
    What we are seeing in Europe is the end result of Keynesian economics.
    I agree. Implement fiscal austerity (not to mention absurd monetary policies) during a recession, and you'll inevitably make the recession worse. Just as Keynes predicted. Fortunately the US is in slightly better shape, because our government isn't in thrall to the austerity-pushers to the extent that Europe is.
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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by iguanaman View Post
    When the truth hurts deny it. It's like a daliy occurence in the life of a right winger lately. It is not very becoming.
    Show me the budgets. It should be very easy to spot a six percent decline in federal spending, shouldn't it?
    I shall wait patiently for you to prove such an outlandish lie. Show me the outlays. Don't bother me with projections. I want to see how much was spent before and I want to see a six percent reduction in the current outlays. To make it clear if we spent one dollar last year I want you to show me that we spent 94 cents this year.

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    Re: Economy's Biggest Drag Right Now Is Government

    This thread has so much fail in it it's ridiculous.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by j-mac View Post
    What we are seeing in Europe is the end result of Keynesian economics.


    j-mac
    LOL There is nothing Keysian about "Bankers Gone Wild" which started this whole mess or the tight money/austerity budgets imposed on countries following the Right wing Austrian school which is what short circuited their recovery. Pig headedness is one thing but you lost. There is no confidence fairy, slashed budgets and austerity don't bring prosperity OR help pay off debts. They hurt the middle class who stop spending and it all tumbles down. Europe is backpedaling as fast as they can now, hopefully they will pull out of it.

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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by Misterveritis View Post
    Show me the budgets.
    http://www.bea.gov/national/pdf/dpga.pdf
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    Re: Economy's Biggest Drag Right Now Is Government

    Oh this is just grand. Another anti-Obama poster who doesn't have even the slightest clue! At first i thought this was a joke
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by Fletch View Post
    Those European governments are essentially the lenders. Demanding that places like Greece alter the way they do things and to at least make an effort to live within their means was not a 'really dumb idea,' it was the only option left.
    It was far too late! Where was the EU austerity-mobile in July 2007? The Greeks should have been following the German model; if you want to provide generous social welfare benefits, you have to tax your citizens accordingly. The German government accounts for more than 40% of total output, compared to 26% for the U.S..
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Economy's Biggest Drag Right Now Is Government

    Quote Originally Posted by j-mac View Post
    What we are seeing in Europe is the end result of Keynesian economics.


    j-mac
    Or, the result of other factors, other choices. Perhaps a closer look might show things are not as simple as to fit an ideology as well as you'd like.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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