What’s the Best Tonic For Our Still Ailing Economy - More Stimulus or Fiscal Austerity?

[Omaha Steve]

http://www.laborradio.org/node/14322

Submitted by Jesse Russell on October 24, 2010 - 4:53pm
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Lede: What’s the best tonic for our still ailing economy - more stimulus or fiscal austerity? Doug Cunningham takes a look.

By Doug Cunningham

With millions of unemployed American workers still desperate for work many economists are urging more economic stimulus to get people back to work. But economic austerity is a course being proposed by some economists as well. Austerity would cut government spending and put a financial squeeze on workers. The theory is that by cutting the deficit interest rates would be lowered and that would stimulate growth. So which is the right answer for the U.S. economy? A new report from the Center For Economic and Policy Research called “The Myth Of Of Expansionary Fiscal Austerity” says austerity is not the right approach for current economic conditions in the U.S. The center says austerity would lead to further economic contraction, not the growth we all need.

[Tansy_Gold]

1. NEITHER will work if there aren't manufacturing jobs to circulate

the dollars.

No economy that routinely ships its jobs and its cash offshore can sustain itself. Not with stimulus and not with austerity. Both are doomed to failure.


Jobs.


Jobs.


Jobs.


Jobs that make the things we use.


Not jobs that just make work or just make paychecks. Jobs have to create tangible wealth in the form of the things we use and consume -- our food, our pencils, our paper, our computers, our shoes, our socks, our shirts, our books, our baseballs and basketballs and footballs and hockey pucks, our lotions and lamps, our pots and pans and refrigerators and spoons.


Jobs. Period.




Tansy Gold

[TBF]

2. All you have to do is take a look at Europe to know what's coming.

"Austerity" is next on the table.

The imperialists have been at War throughout this decade, and someone has to pay for it. It ain't gonna be the rich folks.

I hope we have the courage to rise up as France has ...

[Deep13]

3. Redistribution of already existing wealth. nt

[msongs]

4. a massive slashing of the welfare military budget is the best start.. nt

[LawnKorn]

6. A substantial curtailment of military spending followed by equal investment in renewable energy

The era of National Security coming from fleets of heavy bombers loaded with Hydrogen bombs passed decades ago. Our military has demonstrated its capability to route any opposing force several times in the last 30 years, yet it has not netted us one tangible thing.

Our best bet for National Security is a self reliant manufacturing base powered by our own, renewable energy sources. The only influence the Middle East has over the United States is our dependence on their oil. The only influence the Chinese have over us is our dependence on the products of their factories.

If we establish America as the seat of excellence for clean, reduced carbon, renewable energy production, our security is guaranteed well into the future.

[doc03]

5. Go to a 32 hour work week. Employers have been increasing

productivity of workers for decades with automation, speed-ups, job cuts, combinations and reducing benefits. You have too many people looking for too few jobs, go to a 4 day week. Who the hell decided we have to work 8 hours 5 days a week? Back in the early 20th century people worked 60 hours a week and it was cut to 40 back in the depression years with pressure from unions and we did fine for decades.