The House GOP must have their picture in the dictionary next to the word Hypocrisy. They have passed the Ryan Budget yet they refuse to increase the debt ceiling as is necessary for even the Ryan Budget. Under the Ryan Budget the deficit will increase until at least 2022.
On the one hand the House GOP passed a budget that requires an increase in the debt limit, but they refuse to increase the debt limit.
Furthermore the GOP wants to balance the budget without an revenue increases. However, in the absence of revenue increases nothing will happen to lower the deficit. The deficit may not increase but it cannot come down much either. Assume that there is a $100 debt. The next budget proposed would raise the debt to $110. If you follow the GOP and slash spending to a balanced budget, the debt will remain at $100. The only way to reduce the debt is to increase revenues and use the increase to pay down the debt. A spending slash will not reduce the debt because it only reduces spending for programs that already exist and allows no money to be used to pay down the debt.
Of course none of this will help solve the real problem in the economy. That is jobs. Upon taking control of the House, John Boehner said that the number one issue for the GOP would be creating jobs. What have they done to create jobs in over a half year in power?
There is a need for jobs and the best way to create them is through government spending. The United States went through a similar period of economic distress in the 1930s. Instead of continuing deficit spending they tried to balance the budget. All that did was slow down the recovery. It is time to keep deficit spending up and create jobs program to help the economy and create jobs. This is not my thoughts, that of a Nobel Prize winner in economics.
Keynesian Economics works. Exactly what economic model and theory is the GOP using?
On the one hand the House GOP passed a budget that requires an increase in the debt limit, but they refuse to increase the debt limit.
Furthermore the GOP wants to balance the budget without an revenue increases. However, in the absence of revenue increases nothing will happen to lower the deficit. The deficit may not increase but it cannot come down much either. Assume that there is a $100 debt. The next budget proposed would raise the debt to $110. If you follow the GOP and slash spending to a balanced budget, the debt will remain at $100. The only way to reduce the debt is to increase revenues and use the increase to pay down the debt. A spending slash will not reduce the debt because it only reduces spending for programs that already exist and allows no money to be used to pay down the debt.
Of course none of this will help solve the real problem in the economy. That is jobs. Upon taking control of the House, John Boehner said that the number one issue for the GOP would be creating jobs. What have they done to create jobs in over a half year in power?
There is a need for jobs and the best way to create them is through government spending. The United States went through a similar period of economic distress in the 1930s. Instead of continuing deficit spending they tried to balance the budget. All that did was slow down the recovery. It is time to keep deficit spending up and create jobs program to help the economy and create jobs. This is not my thoughts, that of a Nobel Prize winner in economics.
Keynesian Economics works. Exactly what economic model and theory is the GOP using?
*cough*
ReplyDeleteThe fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit. - Senator Barack Obama
*cough*
But no, that's not hypocritical ;)