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Originally Posted by Griff
I don't think Brooks would ever endorse a "hard" currency as it can be too inflexible, suppressing economic expansion. That said, as long as our currency is losing value saving is punished. To go along with what you said we will have to raise taxes and cut services to rebuild the integrity of the dollar. We will have to cut more services than Democrats want and raise more taxes than Republicans want. Both parties live in a fantasy world created by ideology, we only have to read Krugman today to witness the self-delusion. I believe it may be possible to ease the pain in an economic contraction through government spending, but you'll never hear the left calling for cuts during an economic boom, much as we never hear Republicans complain about debt created by war-making.
Getting centrists elected is the tough part since they can't speak to blind ideology. They have no core group to hold in place while they reach out to other voters.
Rand Paul is going to get creamed defending BP the way he is. Sometimes corporations really are the bad guys.
Growing small business should be the focus of centrists. Let's not create a regulatory morass that suppresses start-ups, but we damn well better regulate and hold big business accountable for environmental and economic destruction. |
I agree with you with the need for, and the difficulty in electing, centrists or those willing to compromise and build consensus.
I still dont see anyway out of the necessity to have spent significantly in the last year to keep the economy from tanking completely. No one wanted the bank bailouts, but many understood the necessity....and no one, but the free traders thought that the economy would recovery on its own w/o some type of stimulus....spending or tax cuts.
When the economy is stabilized and growing again, I am all for responsible cuts in discretionary spending....including defense.
But the biggest bugaboo is Medicare. There is a relatively easy fix for Social Security...raise the base of income subject to the payroll tax and the system is financially sound for another 50 years...through the baby boomers.
The Medicare fix is not so easy, but tax increases will certainly need to be part of the solution.
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Originally Posted by spudcon
I think you need to look back at the last century to see who was in charge when all the major deficit making wars were started. It wasn't Republicans. Republicans did get us out of most of them.
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I recall Rumsfeld telling Congress that the Iraq war would cost no more than $50 billion and Iraq would pay for its reconstruction with oil revenue.
The cost of the war to-date? About $1 trillion and counting....all of it off-budget and not offset by spending cuts. The long-term costs are likely to exceed $2 trillion.
To depose a tyrant who posed no direct threat to the US and had no relationship with those who attacked us on 9/11.