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HUFFPOST SUPER USER
lastams
07:39 AM on 03/06/2013
When the leadership of both parties (including the fella in the White house) are not beholding to one special interest or another, then, and only then, will we see rational budgets that support Main Street over Wall Street. Until then the rhetoric will never match the reality, and the corporate owned media will continue to parrot the rhetoric while ignoring the actual agendas of both of these parties.
Look, spending bills sail though Congress without a bump and never get reported by the news. Trillion dollar Farm Bills, Trillion dollar omnibus spending bills ... the last defense authorization bill (all 630 billion of it) passed the Senate 98 to zero...The Fed continues to subsidize Wall Street, buying up over 2 trillion dollars of the debt of the big banks, and what is being reported by the media? ... the "debate" about how to curtail Social Security spending, a program that continues to collect more revenue than it spends.
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HUFFPOST SUPER USER
Johnny Vineyard
Apply logic to everything.
07:33 AM on 03/06/2013
I'm torn between washing my hands of all this political gaming being done with our economy or running for political office so I can try to figure out what is going on in there and hopefully change something.

The first thing I'd have to change, though, is how much money one has to have to win an election of any kind...this poses a problem.
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HUFFPOST SUPER USER
PCPrincess
I'm probably gaming.
08:27 AM on 03/06/2013
Yes. The first place to start is by removing damn near every person currently in office. Then, re-write the rules to ensure that representatives aren't given a lifetime position with so many benefits that the power of it seduces all of them to take bribes and stop actually representing the electorate. The next step is to ensure that all campaigns are publicly funded, with NO contributions: Free Speech, my ass. Also, I'd convene a constitutional convention and fix the mess that is the Supreme Court's lifetime appointment and the overly vague 2nd amendment.
07:32 AM on 03/06/2013
I could not agree more. The facts of the matter (beyond what you stated) support your economic presentation.

What I would add is these things:

First: We sequester too much wealth via income disparity. It hurts our Capitalistic economy big-time.

Households need to have income and/or disposal savings at least twice their "poverty" level to be real incremental income consumer households. On the other hand as income levels increase above 300% of “poverty” the law of diminishing returns progressively kicks in in terms of productive capitalistic consumerism.

Today around 43% of households do not meet that 200% mark. This burdens government services as well as severally dampens consumerism that really will create jobs.

Raising the minimum wage to $10.10 and disallowing some of the "part-timer" tricks and gifts we give larger corporations should be a no-brainer.

More jobs and more money in the hands of lower income people is really in the long run a gift to all factions. The President should have used his office better to educate on this and to insist on it.

Second: We need less direct labor workers per unit to manufacture goods and services. Even indirect labor is negatively “benefiting” from productivity improvements. We are a victim of technological success. Not bad as long as productivity gains are absorbed by new needs and/or increased markets. And here is where Government has role to fill some job holes and long term help create new capitalistic products, services, and markets.
HUFFPOST SUPER USER
Bocababs
07:19 AM on 03/06/2013
It is when you think that a Super Congress is going to take spending and revenue by the horns, in lieu f the Regular Congress. If "Regular Congress" can do nothing but not agree, what made the W.H. think that a Super Congress was going to reach a compromise?
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HUFFPOST SUPER USER
lastams
07:44 AM on 03/06/2013
Oh contrair my good fellow. Congress does EXACTLY what it was sent there to do ... spend trillions of dollars on special interests... the fact that they pretend to debate what will benefit the American people and the media parrots their rhetoric, does not change the fact that they have no problem whatsoever spedning our tax dollars on subsidies to oil and corn and sugar, defense contractors, and the big banks. Considering the fact that they only show up for work one week in three, one could say they "accomplish" a great deal in a very limited amount of time.
HUFFPOST SUPER USER
Bocababs
08:06 AM on 03/06/2013
Thanks for your thought-provoking comments, I especally enjoyed the "show up for work" part.
07:11 AM on 03/06/2013
The damage done to the middle class in 2008 was on par with the great depression when you factor out the rich. In 1929 all sectors of the population took the hit- rich and poor alike, but this time around the government bailed out only the rich- who, surprise, surprise, made an instant recovery thanks to the flood of cash sent their way. The middle class? They got a token amount and now are told to suck it up. Obama is still a Milton Friedman supply sider who believed in tax cuts and the rich being the job creators, he just decided to throw the middle class a few crumbs. He played half-a-loaf economics and ended up with a half-a-loaf recovery. The next FDR he was not
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HUFFPOST SUPER USER
scott747
08:17 AM on 03/06/2013
You are absolutely correct. Except for one minor omission - it's not only Obama who is still caught up in the Milton Friedman/Chicago School of "unfettered free market economics unless you are rich" theory, so are all of Congress, our academic institutions, "think" tanks and the general public. It's going to take a long long time to turn this puppy around.
08:23 AM on 03/06/2013
The next James Buchanan he is.
07:02 AM on 03/06/2013
This country will get just what it voted for socialism.And I hope they all enjoy the new america.God help you
07:23 AM on 03/06/2013
The Dow just made set a new record. Corporate profits are at historic highs in this country. Hooray for socialism!
07:40 AM on 03/06/2013
Thats all printed money from the feds.Buying treasury notes and creating a false bubble.Do some reading so you dont lose your shirt.And some courses on economics my friend
08:16 AM on 03/06/2013
You're right! Socialism would have provided us with jobs of some kind. We voted for something worse.
07:02 AM on 03/06/2013
Deficit spending is a short-term solution as those jobs disappear as soon as the funding does. They are make work jobs and not real jobs that produce anything. Over regulation by the government has made it much too difficult for the average person to start a business and compete against major corporations that have much deeper pockets. The main adversary for big businesses is not regulation but competition and most corporations welcome and lobby for more regulations to keep new businesses out of the marketplace.
The last real boom to the economy came from the Internet and not brick and mortar stores and factories because it was unregulated. Now that the big boys are in place they are lobbying for regulations to keep new businesses out.
07:11 AM on 03/06/2013
No, it is actually rather easy for small businesses to get started. What regulations do you recommend cutting? There are a variety of regulations designed to do many things, including monitor large businesses and their impulses to monopolize and collude, to prevent dangerous products from coming to market, etc.

Seems we have failed miserably to regulate anything (i.e. too big to fail) and have exacerbated the failings of our so-called capitalist market. Unmonitored, greed corrupts, and we have front-row seats to its failings.
07:20 AM on 03/06/2013
Not sure if you've tried to open a business but when I did I definitely spent a lot of time and money just to make sure that everything was done legally. From the permits (and delays getting the permits) and construction required it definitely wasn't a pleasant or cheap experience. 
07:28 AM on 03/06/2013
I wanted to start a small new business. I went to the bank to open an account with a DBA using my social security number. Couldn't do it. Had to get a paper notarized at the bank, then drive 50 miles to the county court house, pay $5 to park and $26 dollars for the DBA paper. The bank charged me nothing to open the account, and even gave me a credit line of $12,000 at no interest for a year. That's small business encouragement. Why does the government require me to take 2-3 hours of my time to drive to the court house and charge $25 for a service that took 5 minutes? Wish I made that much.
07:38 AM on 03/06/2013
I did not realize that big business's main adversary is not regulation but competition.
Someone should tell the Coal Industry that their jobs are safe!
07:42 AM on 03/06/2013
What do you think will eventually end the coal industry? Competition in the form of other types of energy (solar, wind, etc.) or regulation?
HUFFPOST SUPER USER
alant3
07:01 AM on 03/06/2013
For example, one poster said you cannot keep borrowing forever. But warren buffer explained on CNBC that you can run a deficit forever. I can see heads exploding right now. But said heads are not as smart as Warren.
HUFFPOST SUPER USER
alant3
06:56 AM on 03/06/2013
I agree with Pres. Obama's current plan to put all his energy into throwing the Republicans out in 2014. It's useless to try to argue with Republicans, because there're so many hidden absurd assumptions in what they believe that you can't even start the conversation without telling them why their assumptions are wrong. No doubt some will start using "snappy comebacks " to my post, which is what passes for thinking or facts for some.
07:47 AM on 03/06/2013
The core of the article is that the administration, which adores the road show, never took the TRUE economic case to his people. As Obama's voting base is near illiterate, they were perfect for election votes but less so for consuming the true economics of why Govt needed to spend during a deficit environment. Therein Obama took an dumb down msg to his limited following. That repeat strategy did not compute.
06:48 AM on 03/06/2013
No, wrong. "the only choice in the near term is between larger deficits...and higher unemployment."

No, no, no. That would have been the only choice if deficits weren't already 16 TRILLION dollars. You can't keep borrowing to solve financial problems, you can't when you never pay it back. The economics have changed. The top 400 people in this country control more wealth than the bottom 150 million. You need to tax the rich heavily, the government needs their money back, they need to pay down their debts so that they have financial flexibility to help the economy.

The so-called job creators are NOT creating jobs and they have all the wealth. The "free markets" are dysfunctional. Health industry is not running on market forces, our so-called being the next Saudi Arabia for oil has done nothing to lower oil prices, you have tech companies agreeing in private not to hire each other's employees so wages are held down through lack of competition, etc. etc. etc. The only entity truly capable of solving this problem is the government, and they need their money back to do it, we can't borrow any more.
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HUFFPOST SUPER USER
Letstalkaboutit
Conservative Ideology
06:44 AM on 03/06/2013
There is still stimulus money that has not been spent. The problem is with too many government regulations for private business, public union benefits, and Obamacare! Oh and by the way Chrysler used our stimulus money to dig out and now they are expanding to China and Solyandra used stimulus money to go bankrupt and now you want more stimulus money??? LMAO!
HUFFPOST SUPER USER
lulubelle1956
06:42 AM on 03/06/2013
hate to break this to you, but only the house of reps controls purse strings. and that power does not rest with the president. as much as mcconnell, boehner, cantor and ryan like to pretend, the constitution speaks and controls.
06:06 AM on 03/06/2013
I agree.
The only decent or ethical jobs in America come from government spending. The private sector has no motive or interest in creating additional jobs.
If we taxed Republicans sufficiently, they could become the job creators that they currently style themselves to be.
HUFFPOST SUPER USER
fedup2much
06:04 AM on 03/06/2013
Seems like you are espousing Mr. Krugman's philosophy. WE need to spend our way out of this near depression. Mr Krugman seems to say the government needs to do the spending. I believe the people need to do the spending. Unfortunately, the tax policies and bailouts of the crooks for the past 50 plus years have left nearly 90% of US with no disposable discretionary funds. Washington and Wall Street, there is little or no more to steal. Mr. Krugman, I believe, has stated that people think the president is a progressive. They are disappointed because they don't realize he is just another politician.
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Vyslichajici
private american citizen
05:35 AM on 03/06/2013
i blame republican intransigence caused by paranoid, destructive, selfish ideological extemism. the rich pay too little of their fair share in this country, and the workers are too little supported by the current system of government. republicans are driven by corporate hegemonism and banking interests that are concerned to take total control unto themselves and away from the american people. the fault is squarely that of the people who opposed obama's proposals because they refusd to permit a modes raise to taxes for the top 1% of the country. shame on those repugnicans and those whose selfishness they faciliate. shame on the rich for maligning america again. shame on the author for attempting an apology for such obstructionism.
06:06 AM on 03/06/2013
What percentage of the total tax bill do you think the wealthy should pay?
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Vyslichajici
private american citizen
06:14 AM on 03/06/2013
i'd like to see their tax rate returned to reagan-era levels.
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HUFFPOST SUPER USER
cruzing9382
Old and young, we are all on our last cruise.
08:34 AM on 03/06/2013
I'd like to see them returned to the Kennedy era levels.
thinkabtit39
common sense never media fed.
06:08 AM on 03/06/2013
OBAMA not republicans.
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HUFFPOST SUPER USER
cruzing9382
Old and young, we are all on our last cruise.
08:34 AM on 03/06/2013
Thumbs down.