Michael Tomasky and the austerity betaverse.

[SemiAuto]

First, a little info on the cuts and their predicted impact. These across-the-board cuts to defense programs and domestic discretionary programs (not to Social Security and entitlements) would start to take effect March 1, which the parties agreed to in the fiscal cliff deal. Over the next seven months, this would mean $55 billion in defense cuts and $27 billion in domestic cuts. Those are pretty steep cuts.

That’s austerity. Austerity, in difficult economic times, which these still are, is never good. Anything that takes money out of the economy isn’t good. This is the great paradox of the Republican position that “we” have to learn to live within our means. There’s never been more insidious nonsense put about the land. The only thing severe cutbacks would do is put the recovery at risk.

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If $77 billion are steep cuts then what is a $1 trillion deficit? What is $3.6 trillion in spending? That draconian cut becomes pocket change.

"Anything that takes money out of the economy isn’t good." Does that include taking taxes out of the economy and shipping it to Washington to be spent on special interests? How about $600 billion in more revenue over 10 years where the first year has already been spent.

"There’s never been more insidious nonsense put about the land." Except maybe 'vulgar' Keynesian economics. The part where one deficit spends in a recession AND deficit spends in good times. The country is getting a front row seat as to why it doesn't work.

[flyboy56]

I don't think people really care Semi. They know the government will never pay down the debt so why even talk about it. But hey, the stock market is doing great!