Bernanke: Premature Fiscal Tightening Risky

[Jermyn Davidson]

Economic conditions provide little scope for reducing deficits significantly further over the next year or two; indeed, premature fiscal tightening could put the recovery at risk. Over the medium- and long-term, however, the story is quite different.

http://www.theatlantic.com/business/...-deficit/64084


The Republican mantra of cut spending now not only flies in the face of what Bernanke advises, but it could send the country back into a recession.


However, economic experts have long said that it has been the government spending that stopped America from sinking into a Depression. Most of my fellow Conservatives refuse to accept this as fact.

Should we allow ill-informed Conservatives to send America back into a recession, maybe even a depression?

[coadie]

Originally Posted by Jermyn Davidson

Economic conditions provide little scope for reducing deficits significantly further over the next year or two; indeed, premature fiscal tightening could put the recovery at risk. Over the medium- and long-term, however, the story is quite different.

http://www.theatlantic.com/business/...-deficit/64084


The Republican mantra of cut spending now not only flies in the face of what Bernanke advises, but it could send the country back into a recession.


However, economic experts have long said that it has been the government spending that stopped America from sinking into a Depression. Most of my fellow Conservatives refuse to accept this as fact.

Should we allow ill-informed Conservatives to send America back into a recession, maybe even a depression?

You have no iron to sharpen.

Private payroll manager ADP reports today that their analysis shows the private sector lost 39,000 jobs in what is usually considered an important indicator prior to the government release, which comes on Friday. And Reuters got to use its favorite adverb, too:
Private employers unexpectedly cut 39,000 jobs in September after an upwardly revised gain of 10,000 in August, a report by a payrolls processor showed on Wednesday.

Employment is getting worse. Jermyns argument leaning on Bernanke is already falsified.

You are not a conservative. You are phony. Why are we losing private sector jobs without changes in taxes?

[Praxeas]

Originally Posted by Jermyn Davidson

Economic conditions provide little scope for reducing deficits significantly further over the next year or two; indeed, premature fiscal tightening could put the recovery at risk. Over the medium- and long-term, however, the story is quite different.

http://www.theatlantic.com/business/...-deficit/64084


The Republican mantra of cut spending now not only flies in the face of what Bernanke advises, but it could send the country back into a recession.


However, economic experts have long said that it has been the government spending that stopped America from sinking into a Depression. Most of my fellow Conservatives refuse to accept this as fact.

Should we allow ill-informed Conservatives to send America back into a recession, maybe even a depression?

Bernanke? Wasn't he for the trillion dollar bailout that didn't create any jobs but helped the wealthy bankers prop their banks up?

It wasn't deficit cutting that put us in the recession.

We have a huge huge unsustainable deficit that YOU have to pay back. And so why would you believe that crud?

[coadie]

Originally Posted by Praxeas

Bernanke? Wasn't he for the trillion dollar bailout that didn't create any jobs but helped the wealthy bankers prop their banks up?

It wasn't deficit cutting that put us in the recession.

We have a huge huge unsustainable deficit that YOU have to pay back. And so why would you believe that crud?

Jermyn has no children. Mine will pay his share.
The mortgage bubble scheme from Carter caused a financing meltdown and market crash. The largest recipient of bank bailout money was GE finance. GMAC also got a bunch.

[Praxeas]

Originally Posted by coadie

Jermyn has no children. Mine will pay his share.
The mortgage bubble scheme from Carter caused a financing meltdown and market crash. The largest recipient of bank bailout money was GE finance. GMAC also got a bunch.

I believe there was a number of factors, including the democrats and their idiocy to the republican loosening of regulations on wall street.

But that's why the democrats claim of tax cuts didn't prevent the recession is bogus. The tax cuts helped an economic boon. It had nothing to do with the economic collapse

[coadie]

Originally Posted by Praxeas

I believe there was a number of factors, including the democrats and their idiocy to the republican loosening of regulations on wall street.

But that's why the democrats claim of tax cuts didn't prevent the recession is bogus. The tax cuts helped an economic boon. It had nothing to do with the economic collapse

The largest factor I hear the least was the explosion of energy prices that triggered a run up of commodities. 1 trillion dollars increase for imported crude helped pinch people and they fell behind in house payments because the extra 50 to 150 a month at the gas pump hurt. Energy goes up, most everything goes up. Food, school bus costs, manufacturing costs. Mark to market was a large reg that cut stock prices.

[Jermyn Davidson]

Originally Posted by coadie

Jermyn has no children. Mine will pay his share.
The mortgage bubble scheme from Carter caused a financing meltdown and market crash. The largest recipient of bank bailout money was GE finance. GMAC also got a bunch.

Carter?

Really?

Carter is responsible for today's situation?


He may have made some bad decisions, but there have been a whole lot of detours that America could have taken between then and now, to avoid our current economic situation.


To put a sizeable amount of the blame on the President that served 30 years ago seems like you're just looking for someone to blame.

[Jermyn Davidson]

Originally Posted by Praxeas

Bernanke? Wasn't he for the trillion dollar bailout that didn't create any jobs but helped the wealthy bankers prop their banks up?

It wasn't deficit cutting that put us in the recession.

We have a huge huge unsustainable deficit that YOU have to pay back. And so why would you believe that crud?

Again, Bernanke and many others believe that it was the government's intervention at a key point in this struggle that saved the country, economically speaking.


They have history to back them up. The same experts cite the government's lack of intervention in the beginning that allowed the Great Depression to become so great.

[coadie]

Originally Posted by Jermyn Davidson

Carter?

Really?

Carter is responsible for today's situation?

He may have made some bad decisions, but there have been a whole lot of detours that America could have taken between then and now, to avoid our current economic situation.


To put a sizeable amount of the blame on the President that served 30 years ago seems like you're just looking for someone to blame.

CRA. 1977. You dems can't follow history?

[coadie]

Originally Posted by Jermyn Davidson

Again, Bernanke and many others believe that it was the government's intervention at a key point in this struggle that saved the country, economically speaking.


They have history to back them up. The same experts cite the government's lack of intervention in the beginning that allowed the Great Depression to become so great.

You can't give examples other than how you feel??

Franklin Roosevelt “did bring us out of the Depression,” The New Deal, after all, was the largest peacetime expansion of federal government power in this century. Roosevelt’s policies prolonged and deepened it.

Fat government made the depression deeper and longer.

JD. You can buy an econ text book at a garage sale for 50 cents.