Trickle down economics, NOT Social Security, is the biggest Ponzi scheme ever devised by man. Milton Friedman should burn in hell for all eternity for advancing such a blatantly fraudulent theory. It is patent nonsense!
Is Milton Friedman any more of a fraud than John Maynard Keynes?
This cartoon sums up Keynesian economics better than anything I've ever seen.
If credit is economic steroids (as I heard Tom Friedman recently say), then deficit spending is economic methadone. It makes you feel good, but you can never stop without crashing very, very hard.
CT- It all depends on what the deficit spending is for. If it is to wage two unnecessary wars that have no economic or political gain, then it is very wasteful. But if it is to stimulate job creation, which produces more tax revenues and pays for the deficit spending then it makes sense and is good for the country.
Goerge Bush (and Ronald Reagan) showed that Republicans are not really against deficit spending -- only deficit spending that makes sense.
But if it is to stimulate job creation, which produces more tax revenues and pays for the deficit spending then it makes sense and is good for the country.
That's the way the first stimulus package was sold: Spend three-quarter of a trillion dollars, and unemployment won't exceed 8 percent. Do nothing, and it will soar to 9 percent.
On the other hand, Reagan ran some pretty substantial deficits building up the military. What do we have to show for that? The collapse of the Soviet Empire and a "peace dividend" big enough to fund the surpluses of the Clinton years.
G.W. Bush? Well, that's another matter altogether.
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Trickle down economics, NOT Social Security, is the biggest Ponzi scheme ever devised by man. Milton Friedman should burn in hell for all eternity for advancing such a blatantly fraudulent theory. It is patent nonsense!
ReplyDeleteI WANT YOU to pass a jobs bill that isn't funded, and I want you to pass it NOW!
ReplyDeleteWhere have I heard this before?
Oh yeah!
Is Milton Friedman any more of a fraud than John Maynard Keynes?
This cartoon sums up Keynesian economics better than anything I've ever seen.
If credit is economic steroids (as I heard Tom Friedman recently say), then deficit spending is economic methadone. It makes you feel good, but you can never stop without crashing very, very hard.
CT-
ReplyDeleteIt all depends on what the deficit spending is for. If it is to wage two unnecessary wars that have no economic or political gain, then it is very wasteful. But if it is to stimulate job creation, which produces more tax revenues and pays for the deficit spending then it makes sense and is good for the country.
Goerge Bush (and Ronald Reagan) showed that Republicans are not really against deficit spending -- only deficit spending that makes sense.
But if it is to stimulate job creation, which produces more tax revenues and pays for the deficit spending then it makes sense and is good for the country.
ReplyDeleteThat's the way the first stimulus package was sold: Spend three-quarter of a trillion dollars, and unemployment won't exceed 8 percent. Do nothing, and it will soar to 9 percent.
How's that working for you?
On the other hand, Reagan ran some pretty substantial deficits building up the military. What do we have to show for that? The collapse of the Soviet Empire and a "peace dividend" big enough to fund the surpluses of the Clinton years.
G.W. Bush? Well, that's another matter altogether.
I love when Repubs try to justify "trickle down economics"!
ReplyDeleteIt's piss "tricking down" my back.