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Home Front: Politix
Leading House Dem: 'We've got to spend our way out of this recession'
2010-02-02
The U.S. government must spend its way out of the recession, the Democrats' third-ranking House leader stressed Monday. Rep. James Clyburn (D-S.C.), the House majority whip, said that trying to find greater savings in the budget, which was released by President Barack Obama this morning, wouldn't help alleviate the recession.
458 comments so far at the link, almost all of whom comment on how schtupid Clyburn is ...
Comments up to 694 as of 9:12 a.m. ET, and the sample I saw pretty much agreed with the earlier ones.
"We've got to make some decisions here as to what's in the best interests of our country going forward," Clyburn said during an appearance on Fox News. "And I think the best interest is to invest in education, control these deficits, while at the same time trying to get people back to work."

"We're not going to save our way out of this recession," the majority whip added. "We've got to spend our way out of this recession, and I think most economists know that."

Obama's budget, which was unveiled Monday morning, calls for $3.8 trillion in spending for 2010, but is projected to cause a $1.27 deficit.

A number of key Democrats in Congress have responded to the proposal, including House Appropriations Committee Chairman David Obey (D-Wis.), who said lawmakers would seek to abide by spending freezes within the budget, but seek to extend caps to defense and national security spending, too.

Some other Democrats have worried that without expanded spending on social programs and other elements of the budget, some people hit hardest by the recession would be disadvantaged by the budget.

Clyburn suggested that talk of reducing the deficit was moot as long as the economy remained sluggish in the foreseeable future. "You're not going to bring down the deficits, you're not going to eliminate these problems without growing this economy," he said. "And you're not going to grow the economy by wishing it; you've got to invest in it. And that's what we're doing with this budget."
Posted by:Steve White

#13  * ION PAKISTANI DEFENCE FORUM > NYT > [OBAMA Budget] HUGE BUDGET DEFICITS MAY ALTER US POLITICS AND GLOBAL POWER.

IOW, America = Amerika, mighty USSA = weak USRA SSR needs OWG-NWO becuz SSSSSSSSHHHHHHHHHHHH, its the only way Amer can avoid DEFICIT-BASED GEOPOL-GLOBAL MELTDOWN.

Lest we fergit, "DEFICIT BUDGETING/SPENDING" > another way of saying BANKRUPTCY FINANCING/LEVERAGING. YOU WERE BANKRUPT + BROKE BEFORE YOU EVEN BEGAN.

D *** NG IT, MORIARITY, KEEP GIVING THE SOCIALIST MASSES THAT DIDN'T VOTE FOR SOCIALISM NOR OWG-NWO, ETC. THAT PLACEBO!

* SAME > ARAB STATES WANT PAKISTAN [+ France, CHIna, etal.] TO BE COME A SUPERPOWER].

Methinks its safe to say that this is one reason, among other, that RADICAL ISLAM IS [overtly]"GOING NUCLEAR".

* Lessirree

To wit,

* NET-alleged ANTI-AMERICAN POTUS as CIC of Amer Armies around the world.
* "BANKRUPT" USA.
* "AMERIKA RISING"? Read, DEV SOCIALIST AMER NATIONAL-GEOPOL FOCII IS NOT ON DEFEATING DEV NUCLEAR RADIC ISLAM = NUCLEAR TERROR.
* "CREEPING" DESTABILZ + ISOLATION OF ASIA + AFRICA, etc. = FUTURE NUCLEAE ISLAMIST ASIA + AFRICA, etc.
* NUCLEAR ISLAMISM-TERRORISM. The MILTERRS got "DA BOMB" = know how to use 'em.

As said times before, something is wrong within RADICAL ISLAM iff the Jihaidis still can't win the GWOT with the above going on.

** Also from PAKISTANI DEFENCE EFORUM/OTHER - THE DANGERS OF USING MILITANTS AND TERORISTS AS GEOPOL PROXIES [can turn on you].

ARTIC > YOUR LOYAL SLAVE = WORKER BEE ONE DAY, YOUR LORD, MASTER, + "DEAR LEADER" THE NEXT [Selling you andor executing you].
Posted by: JosephMendiola   2010-02-02 18:19  

#12  Somebody slap him - his brain's locked up again.
Posted by: mojo   2010-02-02 12:32  

#11  How novel. I guess I'll get on with buying $hit and running up the credit cards. Where's my subprime loan and Obama money? Clyburn, you lame nitwit. That's what got us into trouble.
Posted by: JohnQC   2010-02-02 10:05  

#10  I am using the Obama/Orzag method of budgeting for my own family budget.

This year we are buying a new Falcon jet, taking a round the world cruise and buying a Chateau in France. We are dong this on less than $200k income. What we have done is this:

1. We are using the assumption that we will win the $180 million Powerball drawing.

2. That my uncle, who I have never met, will leave me his 100k shares of FedEx that he got when he joined them in 1978.

3. We have also considered the MacArthur Prize we will receive for our patented family budget process as well as a direct gift from the Bill and Melinda Gates Foundation.

This guy Obama is so smart. If it wasn't for him I would probably end up homeless instead of wealthy.
Posted by: Jack is Back!   2010-02-02 09:28  

#9  Goodreads has been known to infect the machines of visitorws with spyware and viruses. I suspect that is the 'attack' that Lumpy is talking about.
Posted by: lotp   2010-02-02 08:57  

#8  Not much of an 'attack'. Heinlein is not the first to say that once people realize they can vote themselves free money the game is pretty much over.
Posted by: SteveS   2010-02-02 08:26  

#7  Thanks for the attack, grom, you sh**.
Don't hit his link.
Posted by: Lumpy Flailing9316   2010-02-02 07:44  

#6  Spend our way out of this recession Jim ?

OK, but first, we empty your bank account, sell all your assets, transfer your pension to the US Treasury and attach any of your future earnings and those of your children, grand children and great-grand children.

Obama's budget, which was unveiled Monday morning, calls for $3.8 trillion in spending for 2010, but is projected to cause a $1.27 deficit.

With all of Jim's money we end up with a $1.27 deficit ? One Dollar and Twenty seven cents. Good Go Jim.....
Posted by: Thromorong Johnson8241   2010-02-02 06:56  

#5  The America of my time line is a laboratory example of what can happen to democracies, what has eventually happened to all perfect democracies throughout all histories
Posted by: g(r)omgoru   2010-02-02 03:40  

#4  It's starting to look like there is no way to grow the economy while simultaneously growing government.

FYP
Posted by: AzCat   2010-02-02 02:08  

#3   It's starting to look like there is no way to grow the economy. The US may turn Amish.
Posted by: Anguper Hupomosing9418   2010-02-02 01:53  

#2  Unfortunately since so many consumer goods are imported this has a strong negative feedback mechanism on the effects of stimulus funds. Consumers buy ipods, the money goes to China and then feeds their real estate bubble in Beijing or Inner Mongolia.
Posted by: Thing From Snowy Mountain   2010-02-02 01:14  

#1  Steve Keen's Debtwatch blog makes interesting reading on how the last 30 years brought us to this point.

In summary, repeated government stimuluses during recessions prevented the normal debt divestment that occurs in a recession, while at the same time transfering debt from individuals and companies to the government.

Governments simply don't have enough money to keep stimulating and feeding the asset bubbles.
Posted by: phil_b   2010-02-02 00:35  

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