Stimulus failed, austerity next for US?

[The Northerner]

Run time: 05:42 https://www.youtube.com/watch?v=68WT-IlzSII   Posted on YouTube: November 29, 2010 By YouTube Member: RTAmerica Views on YouTube: 1239   Posted on DU: November 30, 2010 By DU Member: The Northerner Views on DU: 459

 
As many Americans continue to struggle with the economy worsening, is the United States' economy headed towards austerity measures? President Obama told Americans that we need to make broad sacrifice in order to correct the long term fiscal course. Joe Weisenthal says the most likely scenario is some kind of long term sacrifice, such as reducing the cost of Social Security or Medicare.

[abelenkpe]

1. Stimulus did not fail

It was a short term benefit meant to buy time while better long term solutions were put in play. It would have been more useful if a third of it wasn't squandered on tax cuts. Unfortunately the party of no has made sure that no long term solutions are put in play as they feel they can benefit most by extending the economic turmoil and blaming it on the democrats. They are most likely correct in that strategy.

Republicans do not want to do away with earmarks. They talk about that but never want to give up their own earmarks so that is complete and utter bs.

Just as democrats may say they want to reduce defense spending, yet somehow when in power they never actually do that.

While we may need to cut fraud and waste in health care we do not need to cut entitlements. We need to tax the rich and corporations. Y'know those same corporations that paid exactly zero in taxes last year but millions on lobbyists lobbying to reduce the corporate tax rate. :crazy:

Austerity measures are idiotic. Putting people out of work and cutting entitlements like unemployment will only increase the deflationary spiral. As more lose work or receive pay cuts more people will be unable to pay taxes, mortgages, bills, or purchase goods and services. This will force more businesses in the private sector to go out of business and lay off workers, deepening the downward spiral. Who rules the US? Is it bankers? Have we given up our sovereignty to banks? Why are we allowing banks to dictate that we let Seniors go without medical care, that workers cannot retire after a lifetime of work, that people should be put out of work and their families left to starve, their children go without proper education to pay a debt?

[McDiggy]

2. Yay. Austerity.

That totally worked for Ireland and Romania...

...oh, wait, it didn't.