What will happen on Aug. 2, that isn't already happening now?

[ProudLefty]

Absolutely right. No business or bank is going to get off a dime if all they hear from Congress is the sky is falling. I am not saying the remedy is going to be quick, either. But if we just keep cutting programs the only net effect will be more unemployment, not a balanced budget-we will continue to lose revenue at an increased rate. When consumer confidence is increased and our leaders say there is a light at the end off the tunnel, then and only then will it turn around. This is not a pep rally, this is the most influential act the government can do besides infrastructure. Our economy is not based on gold, silver or latinum bars, it is based on demand. The debt is a non issue, only brought up by the GOP when they cannot win the day. Screw Egan-Jones and the S$P, they lied all thru the Bush years and did much to destroy our economy, call them on it and watch them shut up.

Bingo! The problem is not Reagan and Bush's debt. Its not the deficit.

It is two things:

1. we need jobs. Millions of jobs.
2. our infrastructure is falling down. Our infrastructure now ranks 15th in the world.

We need to get to work and solve our problems and send the fear-mongering Republicans back to their holes in the ground. We know how to fix the mess; we have done it before. One thing we do need is for the people who caused the mess to stop trying to make it even worse.

 

[ProudLefty]

 

[ThisTooShallPass]

TTSP, no one is arguing about whether spending has to come down. Democrats have been saying this for 10 years and have been scorned for it. That is a total non-issue.

We have got to deal with the causes of why we moved from a surplus to a trillion dollar deficit in 8 years. We have got to pull back our spending on Iraq and Afghanistan, we have to address the ridiculous cash gift to pharma called Medicare Part D, and we have to return to the sensible tax rates of the Clinton and Reagan years. Just addressing those 4 budget-busting disasters will go a very long ways to fixing problems. A very long ways.

While I have expressed my support in the past for returning to the Clinton budget and making some minor adjustments from there, I hope you realize the impact that will have on GDP.

Going by last year's deficit/GDP numbers, we're talking about reverting to depression conditions pretty much immediately.