Tag Archives: debt ceiling

END THIS DEPRESSION NOW! HOW? 1- Reinstate Spending Cuts! 2- Put Teachers & Infrastructure Workmen Back To Work! 3- Do NOT CUT ENTITLEMENTS, Which Now Would Be A Disaster! & Most Importantly, 4- Hire Jack Lew As Treasury Secretary To Campaign Against This Austerity Obsession. – “Paul Krugman On Why Jobs Come First” (& 5- Disregard Any Unproven “Axiomatic” Economic Assertions From Tea Partyers, Conservatives & Republicans Because Their Solutions Only Exacerbate The Problems & Those Machiavellian Solutions Never Apply To Them! – Tabacco’s Educated Interpretation Of Krugman’s Rhetoric)

PAUL KRUGMAN, “DEPRESSION ECONOMICS is when the normal things you do to boost the economy, have the Federal Reserve cut interest rates a little bit, are no longer available or effective. It’s a situation where the normal rules of what you– of economic policy, have to be put on hold, and you really need to do extraordinary stuff.

The United States is not like a European country that doesn’t have its own currency. The U.S. government cannot run out of cash UNLESS CONGRESS PREVENTS IT, you know creates an entirely self-inflicted shortage through the DEBT CEILING. How is it exactly that we’re supposed to have this crisis that leads to a double dip recession? It really doesn’t even make sense as a story.

It (Loss of Confidence in $) could lead to a weakening of the U.S. dollar against other currencies. But that’s actually a good thing. That would make U.S. exports more competitive. That would actually boost our economy.

It is not a legitimate tactic of politics to threaten to destroy the country if you don’t get what you want.

So sure, by all means, let’s think about it (Budget). But it should not be dominating our policy discussion now”. – TABACCO: Will somebody – anybody – inform the Republican Boy Who Cried Wolf about this! Those IDIOTS on the ‘Right’ ought to know these things! Continue reading

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