DUmmy stevenumbers singlehandedly makes another lamebrain, wimpy post:
steve2470 (1000+ posts) Sun Jul-31-11 12:33 PM
Original message
President Obama's debt ceiling negotiations and his re-election plans...
Please help me understand something. From my limited knowledge of economics, the only debt ceiling deal worth considering is a clean bill to raise the debt ceiling and nothing else. I'm not sure if a package of cuts and revenue increases would help unemployment, does anyone know ?
Here is my point: We all know that unemployment will be a major factor in his re-election prospects next year. Why would he even consider any debt deal that might INCREASE unemployment, as Krugman points out recently ?
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1620912 If steve would shoot a PM to Sarah Imaboobi, maybe he could start typing with both hands, and make more sense.
Autumn (1000+ posts) Sun Jul-31-11 12:39 PM
Response to Original message
1. He is fine with being a one term President.
Want Palin? I agree with him, I am fine with that too.
Cleita (1000+ posts) Sun Jul-31-11 12:51 PM
Response to Original message
3. This is the way it should have been and has been
in the past mostly. Spending cuts and revenue increases should be done separately. Removing the debt ceiling altogether, as Moody's suggested would be even better. Why they want to return to policies that have been known to fail in the past and are very right wing is beyond me. We elected a majority of Democrats in 2008 to change this and to use Keynesian economics to bring us back from the mess Bush created and yet we are sinking further and further into Friedman, Chicago Boys, style economics, which don't work.
Does anyone believe that even a single one of the numbskull racists who voted for the jug-eared Kenyan had ever heard of "Keynesian economics", or "Friedman, Chicago Boys, style economics"?
Does anyone believe that DUmmy Cleita had ever heard of those terms before nutcase nadin googled them and made some nonsensical posts a few months ago?
hfojvt (1000+ posts) Sun Jul-31-11 01:11 PM
Response to Original message
6. as an econ major, I can say with certainty that cuts will increase unemployment
Revenue increases really do not matter, except as they impact the size of the cuts. That is, if, for example, you were gonna make $1 trillion in cuts, it would be better for the economy to make $700 billion in cuts and get another $300 billion in revenue. It still would have a negative impact, but a slightly smaller one in the latter case.
As to why Obama would do it. I can think of several reasons, but it is mostly just speculation and observation.
1. The negative impact of cuts is smaller than the negative impact of a default
2. He gets to campaign as somebody who is serious about the deficit
3. He has advisers who don't care about the unemployed
4. He's a putz.
Okay, that last one just seems like an Occam's razor cop-out. I kinda quit making excuses for the guy after the surrender in December, which I think was another reason why Obama could not demand a clean bill. Because Republicans were posturing to say "we will not increase the debt ceiling until we deal with the deficit problem" and Obama had already punted on the most obvious way to deal with the debt problem, not by cutting $2.4 trillion in spending, but by eliminating $2 trillion in tax cuts for the rich.
Unfortunately, the latter was never on his table to begin with.
Somehow, I have a hard time assigning any credibility to a DUmbass "econ major".
Econ was the one undergrad course I could cut at will, and still be assured of scoring an A for the quarter.
texshelters (1000+ posts) Sun Jul-31-11 02:06 PM
Response to Original message
9. I really can't think of any reason
to vote for Obama now.
