Thursday, July 28, 2011

Prioritizing problems

It seems to me that the country is confused.  And not only that, the confusion is very very scary.

The deficit is an issue.
The debt is a problem.
The current debt ceiling is a crisis.
And the approaches being discussed at the moment are leading us down the road to disaster.

The solution is to pass a clean debt ceiling extension bill, or even, get rid of the debt ceiling completely.
As for the debt, the way to reduce that is to grow the economy faster, and to increase revenues, as well as by eliminating unwanted, unnecessary or ineffective spending and waste.
For the deficit, we should not be too concerned right now.  The country is still lingering in the awful after effects of a recession, and we should be spending sensibly to accelerate growth.  If we need to worry about the deficit, we should be returning to the pre-Bush tax levels, and using the resulting revenues in a maximally stimulative way, which, largely speaking, is helping the poor, the unemployed, building essential infrastructure, investing in education.  Tax cuts to the wealthy are an incredibly inefficient form of stimulus.

Instead, I remain

Yours, looking forward to disaster on Tuesday,

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