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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (152019)	12/11/2010 12:51:37 PM
From: Sam	Respond to of 542891

Yes, but the extra growth is being bought with deficit spending. It's not organic or natural, and that's the problem. The markets may be taking a longer view of things. I agree with that to some extent. And would go a little farther and say that a good deal of the growth of the US economy since 1981 has been due to deficit spending. There would be nothing wrong with that deficit spending if the money was being used for something useful--anything from building, maintaining or improving infrastructure or basic research or improving education or giving people without means the opportunity for more and better education. Unhappily, most of that money, though, has gone to tax decreases or cleaning up economic messes, not productivity enhancement. And that is the difference, IMO, between deficit spending by Rs and deficit spending by Ds. And before someone jumps on me about Obama deficit spending, I would say that it has gone to cleaning up messes created by the previous administration.

To: Katelew who wrote (152019)	12/11/2010 2:15:37 PM
From: Sam	Read Replies (1) \| Respond to of 542891

A Bankrupt Bargain on Taxes By WILLIAM D. COHAN William D. Cohan, a former investigative reporter in Raleigh, N.C., writes on alternate Fridays about Wall Street and Main Street. He worked on Wall Street as a senior mergers and acquisitions banker for 15 years. He also worked for two years at GE Capital. He is the author of “House of Cards: A Tale of Hubris and Wretched Excess on Wall Street” and “The Last Tycoons: The Secret History of Lazard Freres & Co.,” and is working on a book about Goldman Sachs. In addition to The New York Times, he writes regularly for Vanity Fair, Fortune, the Financial Times, ArtNews and The Daily Beast. opinionator.blogs.nytimes.com I'm not going to put Cohan's piece here because there are so many links in the original. It is better to read it there, and I am pretty sure that the NYT won't be removing it.