Austerity? Cut spending, cut economic growth
Original post made by D Toyle, Woodside, on May 24, 2012
With the news that Barack Obama has led America to it's slowest rate of spending increases in over 50 years, it's time to reassess how to move forward out of this recession (source: Wall Street Journal - "Obama spending binge never happened, Government outlays rising at slowest pace since 1950s")
"Over Obama's four budget years, federal spending is on track to rise from $3.52 trillion to $3.58 trillion, an annualized increase of just 0.4%." Obama has raised spending slower than both Bushes, Reagan, Nixon Ford and Eisenhower.
It's time to spend, provide stimulus to create jobs, grow revenues and bring America's economy roaring back to Clinton levels. Who else believes that to cut spending will lead to recession or even depression? Yes, DEPRESSION.
"If you take a trillion dollars for instance, out of the first year of the federal budget, that would shrink GDP over 5%. That is by definition throwing us into recession or depression."
Who is this Keynesian?
Why, it's Willard Mitt Romney.
Is it an old Mitt flip flop? An off-the-cuff remark? No, Mitt said it this week to Time Magazine in a sit down interview he prepared for. Web Link
Time for America to invest in Americans. Stimulus. Jobs. Growth. More jobs. Increase revenues.
Do what America does best.