Quote:
Originally Posted by Shotsie
The majority of his policies would never stand a chance making it through Congress. His budget proposal would decimate funding for a lot of worthwhile projects. Not to mention erasing 1 trillion from the economy would shrink the economy by basically 1 trillion. There is no way the private sector would come close to filling that right away. The private sector already has trillions in cash. Even if you believe that is the appropriate size of the government in the long-run this would still be absolutely devastating in the short to medium run. That's not an emergency landing, that's a fucking kamikaze landing.
|
It seems we could be headed for a kamikaze landing as it is:
Reuters - "U.S. rating likely to be downgraded again" (10/23/2011)
http://www.reuters.com/article/2011/...79M2J120111023
At this point, I don't believe we have the luxury of asking whether or not something is "worthwhile." Instead, the question should be if it's absolutely necessary.
His economic proposal is not as drastic as you're making it out to be. No cuts to social security or medicare, and decreasing defense only to 2006 levels. People are fed up enough that I could see something like this actually passing Congress.
Cutting the budget does not "erase" wealth from the economy. The government doesn't have any money which was not orginally taken from the economy though taxation, borrowing, or the "printing" (devaluation) of money. It doesn't create wealth, only redistributes it.