Will these economics flunk outs never stop trying to sell us snake oil. Tax cuts never, ever, pay for themselves.
Prince Mark's proposal would increase the deficit no less than extending the Bush tax cuts for the wealthy according to CBO. He's just taking the tax cuts from one pocket (rich folks) and putting it in another (business). It's a zero sum game.
Marky, please re-read your Samuelson! In a liquidity trap (which is where the U.S. economy finds itself) the only way out is fiscal stimulus large enough to replace a huge percentage of lost aggregate demand. Since 2007, aggregate demand has fallen $1.7 trillion.
Without an increase of demand of similar size, through things like infrastructure building, 9-15% unemployment, depending on how you measure it, will continue for a decade as it's done in Japan for the last 15 years, harming the careers of our young adults permanently.
Get serious Mark. The Interstate Highway system of the '60s needs to be replicated with high speed intercity passenger rail. NoVa has $10 billion in unbuilt roads and bridges. Norfolk has needs of comparable scale. Other metropolitan areas have similar needs.
Get a transportation appropriation of $1+ trillion if you want to end the high unemployment and stop fooling around with supply side idiocy.
Why wasn't this story listed in Whipple Chips this am, Lowell?
Prince Mark's office has yet to issue any correction.
Let us review. The U.S. economy is in a liquidity trap. Banks are hoarding cash. Corporations are hoarding cash. Consumers are not spending but are being forced to pay down debt. Unemployment is between 9 and 15% depending on the metric used. Aggregate demand fell by $1.7 trillion and hasn't recovered much.
Without the meager $700 billion stimulus, there would have been millions more out of work and the slight GDP growth seen since the bottom would instead have been an extended contraction/depression.
All of the leading economists said in '09 that the stimulus was too small and had too many dollars going to tax cuts and not enough toward infrastructure.
Without a significant new round of stimulative spending, enough to plug the hole in aggregate demand, we're looking at a decade of no or minimal growth and high unemployment just as the baby boom echo begins their employment careers with life time impacts for them and our society.
We are repeating all of the mistakes that Japan made in the '90s with all of the same results or worse a deflationary spiral into an extended depression.
But not according to that Nextel speculator, Prince Mark. Government spending has to stop. He's got his and the rest of us can go hang.
Did this guy take economics in college?
Did he pass?
Does he care?
How does he respond to Bob Herbert's column today?
So who was the NYT source who said DCCC was going to drop Tom from its priority list of campaigns?
Seems the Times reporter has egg on their face this afternoon.
To be in a statistical tie in a R+5 district in a bad year to wear the D next to your name and have a serious money advantage bodes very well for Perriello.
h/t Daily Kos
We all understand the reference to rethugs fearing their base. Any comment made by any elected R that could be inferred to be less than fawning in adoration of Rush, Glenn or Sarah results in abject apologies by the pol within 48 hours if not faster.
But do D pols hate liberals?
If true, its leaves me feeling like I've been had by charlatans.
It also reminds me of that old joke by Jerry Seinfield. He is a Jets fan and noticed that many of the players who had been on his team had, through free agency, gone to rival teams and several players he used to curse when they made good plays against his Jets were now on the Jets. Yet he found himself inescapably rooting for the Jets irrespective of the identity of the players. He recognized that he was just rooting for the uniform. And what was the uniform but clothing or laundry.
So he was just rooting for laundry.
Do these D pols who hate liberals expect us to campaign for laundry?
Do these pols feel entitled to our blood, sweat, tears, time and money regardless of their abandonment liberal values?
I get that Boucher in a R+11 district frequently has to vote differently than I'd like, hell, I've sent him money, but Glenn Nye shouldn't have a worse record from our view than Tom Perriello when both are in R+5 districts. And neither should Prince Mark or Connolly when the state and the 11th are both D+2.
What do we liberals have to do so that D pols fear liberals instead of hating us?
Besides primarying these guys, do we have to withhold our resources and let them lose?
Strange behavior for an incumbent in a district with a Cook PVI rating of D+2 in a return engagement against the same wingnut he beat handily in '08 and over whom Gerry now has a fundraising advantage of more than $1 million.
Even Nate Silver rates Connolly as more conservative than 53% of the Democratic caucus. You'd expect that kind of voting record from someone in a district with an even or R+1 PVI.
Contrast this approach with Tom Perriello in a R+5 district who prominently displays the label "Democrat" in his literature and videos and voted for the jobs bill that Connolly voted against.
Even Rick Boucher in a R+11 district still identifies himself on his campaign material as a Democrat.
Will Gerry's distancing himself from the Democratic Party be more effective than Creigh Deeds' similar effort in '09?
Time will tell but don't be surprised if base Democratic contributors send their dollars to the candidates who are proud to be a D.
Now he's come out for extending the Bush Tax cuts for the wealthy. What's next raising the retirement age to 70? Cutting Social Security benefits?
Something is awefully wrong with this guy. His excuse is a concern about deficits. In the middle of a near depression, the stimulus should have been twice as big as it was. The Pentagon's budget could be cut by 2/3rds and still leave us with the largest military establishment on the planet. But good ol' Jim is going to close the budget deficit on the backs of the unemployed?
This is not a serious person.
As a recruiter of House candidates for our party, Ward has been an abject failure. Creigh Deeds demonstrated that obscure, rural, male, anti-abortion, pro-gun, D lawmakers do a lousy job motivating the urban, suburban and minority bases of the Democratic party in statewide elections. Before my downstate brethren go nuts, try a name id poll among likely Democratic primary voters in the I-95 corridor. If Ward gets double digits, I'll consume any article of clothing you pick.
Will Ken Plum, please, get this guy to see reality and drop this quixotic foolishness?
Is Ward going to be eliminated in this winter's redistricting? That's really up to Dick Saslaw and the degree to which he wants to fight for downstate House Ds in next year's redistricting.
Word is that NoVa Ds are convinced the Rs will pile as many as possible into the same districts but it's hard to draw a map the helps Rs pick up any seats in NoVa in an election with no statewide races. But such an effort by the Speaker could make Saslaw spend any chits he has on preserving the House seats of NoVa House members.
Even so, Armstrong has done nothing to endear himself to the D base and plenty to tick them off.
Does Hunton & Williams or Maquire want another political has been on their roster, Ward? That's the higher percentage play. Unless you want to pull a Specter.
Webb followed his hero, Andrew Jackson, who killed the Second Bank of the United States, by voting to reduce the concentration of financial power in just 6 banks and force them to reduce the portion of the financial system each controls.
Warner, who was made a rich man by the investment bankers of Wall Street funding his winning ticket in the cellphone lottery, was loyal to his paymasters and protected their "too big to fail" status. First, Mark protects his friends at United Healthcare and now his dear pals on Wall Street.
Both of these guys are Democrats, really?
This is not where my D senator should be.
Explain this one Mark? Whose side are you on Wall St. or Jefferson Davis Hwy?