FROM 2012 INTO 2013 POLITICS THREAD

Re: THE 2012 POLITICS THREAD

Which has basically been the Democratic position all along on deficit reduction.

 

Re: THE 2012 POLITICS THREAD

Defense spending is entrenched into society so much, etc. . .

www.newyorker.com/arts/critics/atlarge/2013/01/28/130128crat_atlarge_lepore

 

Re: THE 2012 POLITICS THREAD

Seeing as how entitlement spending will be the primary driver of the deficit in the near-, mid- and long-term, I'd love to hear some substantive Democratic* proposals on how to rein this in.

*To be fair, I'd like to hear some substantive proposals from the Republicans w.r.t. their sacred cows, too.

 

Re: THE 2012 POLITICS THREAD

Is lying at a congressional hearing a crime? Is allowing Marines to die, by inaction and possibly by design, not treason? We do not know what happened because it has been covered up. Can I say crimes were committed by the Administration with certainty? No. Can you say, with certainty, that they weren't? Again, no. Until the Administration is forthcoming about what happened we will not know. And so far their track record on truthfulness about Benghazi has been deplorable.

 

Re: THE 2012 POLITICS THREAD

Seems achievable this year unless the House GOP remains scared of Grover Norquist. You can round up plenty of Democrats who favor fair long-term entitlement reform.

 

Re: THE 2012 POLITICS THREAD

Lying under oath is perjury.

Marines dying "by design?" Now you're deep in the crackpot conspiracy thicket.

If we don't know what happened, how do you know what was covered up?

 

Re: THE 2012 POLITICS THREAD

There's a growing body of economists who are echoing Dick Cheney, in that they say the deficit doesn't matter (at least not right now).

http://www.businessinsider.com/10-people-who-disagree-with-joe-scarborough-2013-1

I'll cherry-pick the conservative economist, who notes that even as the U.S. debt has risen, the share of interest paid relative to GDP has dropped in half from 1995 to today (from 3 percent to 1.4 percent):

http://www.aei.org/outlook/economics/international-economy/japans-lessons-for-americas-budget-warriors/

Congress, take note. Although American deficits do need to be reduced and debt accumulation does need to be slowed and eventually reversed, cries of imminent disaster from “unsustainable” deficits and a supposed bond market collapse will not accomplish this goal. Persistently rising bond prices in Japan and the United States have undercut the “sky-is-falling” rationale for deficit reduction.

Instead of bellowing about a disaster that never comes and saps the momentum from sound fiscal policy, Congress should be cutting deficits through reforming entitlement programs and lowering tax rates while closing tax loopholes. The aim of these measures is to enhance economic growth. Recognizing and striving to achieve the benefits of a sound fiscal policy will produce more progress on deficit reduction and debt stabilization than will empty threats of soaring interest rates and bond market collapse.

Clearly, the debt-to-GDP ratio, the most frequently mentioned metric of “unsustainable” deficits, is not a reliable guide to the sustainability of deficits, notwithstanding frequent warnings that ratios above 80–90 percent represent a danger zone. These warnings have not been prescient for Japan, where the ratio is 140 percent and headed higher.

A board full of people who have worked in the newspaper industry should be acutely aware that draconian cuts don't automatically ensure long-term growth. I would bet all the economists cited by Business Insider have different ways of approaching this goal, but I'm sure they're united in that anything that can be done to encourage economic growth will do more to reduce the deficit and debt more than cuts alone.

There's a strong argument to be made that with the current appetite and interest rate of U.S. bonds, now would be the time to put forth a stimulus package that, say, repaired our rotting infrastructure, something that would pay off in the short-term and long-term.

 

Re: THE 2012 POLITICS THREAD

Could we get a summary of the deplorable acts that have been committed? I'm having a difficult time coming up with one.

The "allowing Marines to die, by inaction and possibly by design," stuff is batshit crazy.

 

Re: THE 2012 POLITICS THREAD

There were no Marines in Benghazi.

 

Re: THE 2012 POLITICS THREAD

"Reform" is one of the most overused words in Washington. It's what someone uses when they want to appear high-minded, even if "reform" doesn't actually help.

Actually, speaking of immigration, making illegals legal would be a big shot in the arm to the economy.

http://business.time.com/2013/01/30/the-economics-of-immigration-who-wins-who-loses-and-why/

 

Re: THE 2012 POLITICS THREAD

Doesn't the ACA trim Medicare spending in exactly the same way Mr. Ryan's proposal did?

And the former president's thoughts on "privatizing" Social Security ran up against a pretty harsh reality when the market crashed.

"Means testing" is probably a debate worth having.

 

Re: THE 2012 POLITICS THREAD

Yeah, what about Roswell?