"So ... you DO believe in deficit spending as long as it's the right kind."
I've never said differently. Like I am opposed to taking medications. Unless I have a medical condition that requires it.
"Or in your case, the "left" kind."
Uh, no. Just the kind which most respectable economists support. You know, the few things in economics that we know actually works. Instead of just wishful thinking, that is.
"Right now, Obama is overspending three times as much as Bush."
Well, duh Tenchu. I guess you missed the fact that we are just starting to see signs of recovery from the worst recession since the Great Depression. In some respects it was worse, international trade never totally shut down during the Great Depression, it did during the Bush Recession.
And the deficit isn't 3 times as much as Bush. The budget that Obama inherited already was running over $1 trillion in deficits once you put the wars back on the budget.
"Like you said, the economy should be taking off like a rocket now."
At some point. Things have improved, but it is mostly the people who avoided most of the pain during the recession who are benefiting. So, just as during the Bush administration, the deficit spending is supporting the wrong areas. Still, the worst thing to do is austerity measures. Just ask the Brits. Their recovery reversed as soon as they instituted their austerity measures. There are some signs it might be rebounding again, but the signals are mixed. |
