While we continue to be distracted by manufactured scandals, Middle Class America, Working America, & Poor America continue to get their clocks cleaned. There is real news out there, good and bad. The deficit has fallen much faster than anticipated. Nobody is talking about this with the interest that it deserves. This decline means that sequester is unnecessary and in fact if some stimulus spending on infrastructure and on needed capital improvements were done now with cheap borrowing, the economic activity would further fill the government coffers with tax dollars. This is standard and verifiable economics. Europe continues in decline because of the austerity measures they have implemented partly based on a debunked fraudulent ideology by Right Wing economists Carmen Reinhart and Kenneth Rogoff. Yet our GOP comrades continue to push this ideology as the medicine to heal what ails the American economy. They believe taxes are too high and America spends too much. Both statements are categorically false. … [Read more...]
