I think this is worth reading for the right and the left as a look at where we are economically and what should be done next. It is by a Reagan economic guru but that doesn't mean the left shouldn't think about what he said.
[Reagan Budget Guru David Stockman on Obama's Shoddy Economic Team] And you on the left, never fear that this is just knocking the left. He has plenty of hits against the Republicans too for getting us where we are economically.
One of my first concerns when Obama took office was his economic team. Looking at this article, it makes me even more concerned with Ben Bernanke as head of the Federal Reserve. I haven't known much about him; but if he still believes what he had said earlier, left and right should be worried.
For anyone who believes deficits don't matter, that it's just some abstract set of numbers and won't impact them personally, a deficit isn't just about a deficit. It's about the money supply which the Federal Reserve controls mostly with no control from anybody else. Nobody votes on that. If they want to print more money to cover the debt; they can. So you think that doesn't matter?
When the price of basics like food jumps but our incomes are held steady due to other controls, it's obvious where that leaves us. It's what happens when the money supply is increased simply to cover debt. For those who can get pay raises or charge more for a product to go along with the devaluing, it might not matter as much, but a lot of people are not in that position; and for them it will mean it is harder and harder to make ends meet. Economic policy is not unrelated to our personal lives.
[We should extend Bush Tax cuts but not unemployment benefits?] That's the line from the right. The logic (loosely using that word) is that unemployment benefits increase our debt but apparently tax cuts do not... It would seem logic would say both would increase the deficit if we don't cut spending at the same time. How do we effectively cut spending with two wars and a recession? Where do we cut? Don't expect any of this to make logical sense because it almost never does. It's based on emotion as much as anything else.
Finally, yes, I know probably most of you reading this blog do not think astrology has anything to offer in terms of understanding anything in the world; but for the few who might think otherwise, check out this link: [Spend or Save for Economic Growth] with not only the astrologer's thoughts on how the planets could impact our world, how that changed in 2008, and also what various 'experts' (who are not astrologers) are saying in terms of which way we should go next as a nation where it comes to economics.