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KRUGMAN: Here's How Bad The Economy Would Have Been If We'd Followed The Republican Plan

World  (tags: world, politics, economy, democrats, republicans, ethics, interesting )

- 2371 days ago -
No one's happy to about the weak US economy, but one way to keep it in perspective is to compare it with the even weaker Europe economy. You'll recall that, a couple of years ago, two things happened:


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Roger G (148)
Wednesday September 26, 2012, 9:25 am
noted,thanks !

Gene J (286)
Wednesday September 26, 2012, 9:41 am
"First, Europe embarked on a path of "austerity"--government spending cuts--to try to shrink its deficits and get its debt problem under control. This was supposed to restore "confidence" to the private sector, which would then result in an economic growth boom that would allow Europe to grow its way out of its problems.'

This IS as Paul has pointed out often, exactly the wrong approach to take when faced with a recession or depression. Keynesian economics, which are the principles FDR used, Nixon, Reagan, and both Bush's used during their tenures, but which have been eschewed by the 2010 Congress, you know, the one with the 9% approval rating, because they'd rather see our economy go down in flames than allow anything to happen which might make the President look good, helping the 47%, and a lot more, just isn't on their agenda. Which is why they are going to lose so badly come November. They have a message, certainly, but it isn't one with which a majority of Americans agree. There ARE answers, they just prefer ideology to helping people. And they've made that crystal clear since the 2010 elections, across the country in state legislatures as well as in Congress. They can live with themselves, but I don't think many other people can. Certainly not a majority.

Past Member (0)
Wednesday September 26, 2012, 9:42 am
Big business has a point of view, such as found in the "business-insider." Nonetheless, what the people want is leaders who actually help real people, not just the 1%. We don't need austerity because the wealthy will not be the ones who have to "tighten their belts" and scrape just to survive. We need action for the people.

David C (79)
Wednesday September 26, 2012, 2:21 pm
Krugman is great!

Past Member (0)
Wednesday September 26, 2012, 5:31 pm

Robert O (12)
Wednesday September 26, 2012, 7:16 pm
Thank you Carrie.

Susanne R (236)
Wednesday September 26, 2012, 10:37 pm
Even though there is actual proof that the austerity budget being pushed by the Tea Party has proved to be a disaster when employed by countries in Europe, don't expect them to stop pushing it! They're narrow-minded and never let facts get in the way of their agenda. We need to vote them out of our government so we can undo the damage they've done because they would rather run our country into the ground than accept a president who is black. It's embarrassing to type those words but, unfortunately, it's true.

Carol H (229)
Thursday September 27, 2012, 5:21 am
noted, thank you Carrie
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