Don't Worry About the Deficit

#2
#2
Ezra Klein is a columnist and blogger at The Washington Post and a policy analyst for MSNBC

I stopped right there..You can't make this stuff up.
 
#5
#5
why would they waste so much time looking for a fix if the issue just magically goes away with inaction?
 
#6
#6
volinbham said:
what are we missing? the fact that he's strung together some pieces and jumped to some pretty unrealistic conclusions to suggest the deficits are not a problem?
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Sigh. If you actually think that is what he's saying in this article then there is no escaping the fact that you are just flat retarded.
 
#9
#9
volinbham said:
what is he saying?
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He is being sarcastic -- that if the parties cannot come to terms on a long range plan, then we will have simultaneous major deep cuts and end of Bush tax cuts as well. He notes will cut deficit by a large amount, but questions whether its too much, too fast.

He's not saying don't worry, this will all work out. Reading it as saying that is just ridiculous. He's saying the opposite, which is that the Dems and the GOP have painted themselves into quite a corner and that if they don't grow up then neither is going to like the end result.

The title is sarcastic. I mean, I would really think that was pretty apparent from the article.
 
#10
#10
lawgator1 said:
He is being sarcastic -- that if the parties cannot come to terms on a long range plan, then we will have simultaneous major deep cuts and end of Bush tax cuts as well. He notes will cut deficit by a large amount, but questions whether its too much, too fast.

He's not saying don't worry, this will all work out. Reading it as saying that is just ridiculous. He's saying the opposite, which is that the Dems and the GOP have painted themselves into quite a corner and that if they don't grow up then neither is going to like the end result.

The title is sarcastic. I mean, I would really think that was pretty apparent from the article.
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Pure gold
 
#12
#12
It won't fix the deficit. It will put a big dent in it, and it will be painful for just about everybody.

He's pointing out something anybody who pays attention to this stuff already knows. The premise that it will fix the budget is stupid.
 
#13
#13
lawgator1 said:
Read the article.

If you still don't get it, well, there's not much to say.
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How can you say he's being sarcastic out of one side of your mouth, and then out the other present his claims as legitimate? Either he's being sarcastic or he's not.
 
#14
#14
n_huffhines said:
How can you say he's being sarcastic out of one side of your mouth, and then out the other present his claims as legitimate? Either he's being sarcastic or he's not.
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Huh? He's sarcastically saying no need to worry because we have these measures in place such that, if Congress does nothing, then the problem will be resolved using those measures. (and then adds, oh, by the way, it is going to really suck).
 
#15
#15
lawgator1 said:
He is being sarcastic -- that if the parties cannot come to terms on a long range plan, then we will have simultaneous major deep cuts and end of Bush tax cuts as well. He notes will cut deficit by a large amount, but questions whether its too much, too fast.

He's not saying don't worry, this will all work out. Reading it as saying that is just ridiculous. He's saying the opposite, which is that the Dems and the GOP have painted themselves into quite a corner and that if they don't grow up then neither is going to like the end result.

The title is sarcastic. I mean, I would really think that was pretty apparent from the article.
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u really believe volinbham is retarded?

he's one of the most level headed posters on here.
 
#16
#16
lawgator1 said:
He is being sarcastic -- that if the parties cannot come to terms on a long range plan, then we will have simultaneous major deep cuts and end of Bush tax cuts as well. He notes will cut deficit by a large amount, but questions whether its too much, too fast.

He's not saying don't worry, this will all work out. Reading it as saying that is just ridiculous. He's saying the opposite, which is that the Dems and the GOP have painted themselves into quite a corner and that if they don't grow up then neither is going to like the end result.

The title is sarcastic. I mean, I would really think that was pretty apparent from the article.
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Some of those mechanisms have already proved their effectiveness. The 2010 debt-ceiling debate led to the Simpson- Bowles commission. The 2011 government-shutdown debate led to a small deficit-reduction package -- the participants estimated it at $37 billion over 10 years. The 2011 debt-ceiling debate, though a disaster for the economy, led to a deficit-reduction plan of $2.1 trillion -- about half the size of the Simpson- Bowles plan. These outcomes point the way to deficit deals that might be struck in the next year or two, with the potential to stabilize our finances for the next decade or more.
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This is a sarcastic paragraph? Sounds to me as if he thinks these steps and steps like them will be sufficient to address the problem.
 
#17
#17
Here's the kicker where he is smoking crack rock

Nevertheless, I’m confident that we will, one way or another, muddle through. Because when it comes to the deficit, Congress really has two choices: Do something to solve it, or do nothing and let that solve it.
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Congress has the third choice that it continually chooses - kick the can down the road. That is the most likely and common reaction and it does not accomplish what he claims.

The "gridlock" claim is fantasy because we never have full grid lock - just look at the payroll tax extension and UE extensions. Just look at any number of "help people out" programs that are never paid for. Gridlock makes them difficult but what consistently comes out is spending above revenue.

The other fantasy is that Congress will do something to seriously address deficits. We haven't seen that more than once in my life time.

Again, the assumptions he's using are simplistic and simply do not reflect reality.

He also confuses reducing deficits with reducing the debt.
 
#18
#18
Worse, too much deficit reduction too fast will hurt economic growth. You can see that happening in Europe, where an excess of austerity has tipped a number of nations into fiscal holes they can’t seem to climb out of.
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Another questionable conclusion - major stretch to claim excess austerity is the cause of the fiscal holes.
 
#19
#19
lawgator1 said:
He's not saying don't worry, this will all work out. Reading it as saying that is just ridiculous. He's saying the opposite,
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From the article


Nevertheless, I’m confident that we will, one way or another, muddle through. Because when it comes to the deficit, Congress really has two choices: Do something to solve it, or do nothing and let that solve it.
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#20
#20
Has alot to do with how the economy is growing and how you are cutting the budget I guess.

If 50% of the population is on welfare and using that money to buy walmart crap and you cut welfare to lower the budget and they cant buy walmart crap anymore then yes you are going to slow the economy down but the long term benefits far outweigh the short term losses.

Sadly though, economies are run on false variables alot anymore.
 
#21
#21
I also think the can will get kicked down the road yet again. There are a lot of entitlement cuts and tax raises that will kick in with the automatic measures, and I do have faith in congress members to cover their own asses.
 
#22
#22
Not gonna lie...I pay my fiance out each year just enough that she owes no taxes and gets the child credit for our twins. I keep my son on my taxes.


We use it to normally go on vacation.
 
#23
#23
milohimself said:
I also think the can will get kicked down the road yet again. There are a lot of entitlement cuts and tax raises that will kick in with the automatic measures, and I do have faith in congress members to cover their own asses.
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Precisely - it is the most expected outcome both as seen by the nature of the system and historical evidence.

Accordingly, his concluding paragraph is absurd.
 
#24
#24
Yep. The dems don't have the balls to enact meaningful entitlement reforms, and the only thing I have equal faith in is that Republicans will not move to enact meaningful tax reforms. The Ryan plan includes closing loopholes to make up for lost revenue from rate deductions, yet there is nothing specific. It would be politically damaging to him and anybody who endorses his plan if they were to start singling out popular items like mortgage interest deductions, even though it would be the biggest possible sign they were actually serious about writing meaningful legislation.
 
#25
#25
Right. I agree that Congress won't meaningfully address the deficit. I disagree with Klein's contention that such an action is unecessary anyway and that minor changes here and there will render the deficit a moot issue.
 
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