The Mudcat Café TM
Thread #148840   Message #3460984
Posted By: Bobert
03-Jan-13 - 03:42 PM
Thread Name: BS: Fiscal Cliff
Subject: RE: BS: Fiscal Cliff
These folks are not economists, brucie... They are ideologues who couldn't pass a basic college Econ201 final exam... The economists tell them what needs to be done and get ignored or shouted down... You know, just like what happens when climatologists try to tell us what we need to do to stop global warming...

One such economist, a Nobel Peace Prize winner BTW, has been demonized by the right wing ideologues... His name is Paul Krugman and he represents real economics...

As for debt??? This ain't rocket surgery... You pay it off when times are good... George Bush inherited none only a balanced budget but a surplus... Did that mean we didn't have any debt??? Of course not... It meant that after servicing the existing debt and paying the federal government's bills there was money left over...

That money could have been used to sure-up the future of Social Security or gone toward infrastructure repairs... But no... The rich wanted it to supposedly create jobs??? How'd that work out???

B~