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.
There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers
Whoever loses the debt ceiling debate with america will be in trouble...Most americans unfortunately are not as astute in keeping up with politics daily. Most have busy lives...The bulk of america slooooowly becomes aware of issued and are even sloooower to form a firm opinion.....Anyone watching this fiasco daily can readily see its the Republicans that are refusing to negotiate...in fact they arent negotiating at all...they are DEMANDING and I believe when that sinks in to most of america...the worm may very well turn at that point
I doubt you will find anyone that doesnt believe we need to cut spending and would agree to spending and entitlement cuts..thats not what this is about its about the teaparty not only wanting to cut the middleclass to the bone...they want to give it to to corps and the richest americans....and thats turning alot of long time republicans OFF big time
Neither side really wants any " grand bargain". They want to kick the can down the road and fight it out in the 2012 elections. Republicans want to campaign on the big government small government debate while Democrats want to talk about taxes on millionaires and billionaires and kicking grandma off medicare. Obama wants this fight, expecting to have nearly a billion dollars to flood the airwaves with his negative ads on whomever runs.
Last edited by lpast; 07-23-11 at 10:22 AM.
Remember S&P said they would downgrade our debt if there was no plan to cut about $4 trillion in the deficit over 10 years. People are not even focused on that problem. If it happens, I don't think the American public will be happy with the President or congress who let that happen.