Wednesday, September 21, 2011

Jesse's Café Américain: Elizabeth Warren On the US Deficit Problem and Fair Taxation

Jesse's Café Américain: Elizabeth Warren On the US Deficit Problem and Fai...:

We need more Elizabeth Warren's to run for Congress, the Senate & the White House.

Why don't we hear talk like this from OUR delegation here in Maine?

We won't get it from Sen. Olympia Snowe.

Olympia thinks Jim DeMint is somebody we should listen in re: spending, taxation and limited government.  She (and Jim) believes the federal government's budget should be balanced by a Constitutional amendment.  Particularly if the balancing has to occur annually (or anything less than complete boom-to-bust cycle), she is essentially saying that the government should not be able to use fiscal policy as a tool to counteract cyclical excesses or deficiencies. 

Not only is this cruelly irresponsible (and contrary to what the Constitution expressly requires -- what, a government Of/For/By the People is NOT supposed to respond to their petitions for economic justice, opportunity and salvation from abject poverty?)  but it is stupid macroeconomics. 

Austerity is NOT Prosperity (except maybe in Orwellian NewSpeak? Shades of Arbeit Macht Frei!), and preventing the federal government from being able to deficit spend to counteract severe economic downturns is national suicide. 

The Liquidationists return. 

The same ideological complaint is voiced by Rick Perry when he called Ben Bernanke treasonous:  Government should not be able to use monetary policy to stimulate a moribund, high unemployment economy... notwithstanding Congress' mandate to the Fed to achieve full employment. 

So much for moderation.

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