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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsNYT: Obama's budget calls for stimulus spending, taxing the wealthy
by Laurence Lewis
This New York Times lede is what some of us have been dreaming to see:
Of course, polls show that the public wants exactly that. It's about jobs and it's about economic fairness.
The deficit is projected to fall to $901 billion in the fiscal year that starts in October, the first time since 2008 that the red ink would be below the $1 trillion mark. But last year, the White House had projected the 2013 deficit dropping further, to $768 billion.
Nobody but grifters in the finance industry cares about the deficit. And basic Keynesian economics says that deficit spending during a deep recession jump starts the economy and puts people to work, and that leads to a multiplier effect as more people and businesses have more money to spend and create more taxable income, and fewer people need government help.
Europe is lurching backward as its conservative governments attempt to strangle the Greek people in order to pay off banks, but a year after austerity fever ran rampant in Washington, and more than two years after Paul Krugman warned of the consequences, the Obama administration appears on the verge of making a clean break back to the Democratic Party's economic traditions. Traditions that just happened to dig us out of the Great Depression.
http://www.dailykos.com/story/2012/02/11/1063838/-NYT-Obama-s-budget-calls-for-stimulus-spending-taxing-the-wealthy
phasma ex machina
(2,328 posts)If conservatives want to turn their share down that's OK.
protect our future
(1,156 posts)And here's a short rant for you, ProSense: I am so tired of hearing the "job creators" BS. As Cheney himself said many years ago, the reason for the tax cuts was "to get our people elected." That's a direct quote. He said it on Cspan; perhaps he thought no one was watching. "Job creators" appears to be merely another sound byte that was spewed forth and parroted until it became an integral part of the Republican agenda. Okay, rant is over.
Skink
(10,122 posts)loud objections from Republicans.
JDPriestly
(57,936 posts)WCGreen
(45,558 posts)In other words, to break the deficit is always bad and that taxes are higher narrative , president Obama had to paint a picture of the GOP being completely out of touch and wrong on almost everything they have promoted for the last 40 years...