Korean Job Discussion Forums

[Ya-ta Boy]

Well maybe, maybe not.

Obama to Call for Three-Year Freeze on Some Federal Spending

Jan. 26 (Bloomberg) -- President Barack Obama will call in his State of the Union address for a three-year freeze on spending for many domestic programs as part of his strategy to rein in the deficit, administration officials said.

http://news.yahoo.com/s/bloomberg/20100126/pl_bloomberg/af2fhldmqvdg_1

It didn't work out really well for FDR either (1937). Can Hoovervilles be far behind?

Jared Bernstein explains the administration view:
http://www.msnbc.msn.com/id/26315908/#35069615

Why the heck cap student loan repayments? That isn't job creation. I have some sympathy for the people who got scammed into buying houses they couldn't afford, but students knew exactly what they were borrowing.

[mises]

[Ya-ta Boy]

[conrad2]

All that fat has been cut out? How about dismantling US Forces Korea for openers. And what exactly do the Departments of Education and Agriculture do that cant be done by local or state government?

[Ya-ta Boy]

"It�s bad economics, depressing demand when the economy is still suffering from mass unemployment. Jonathan Zasloff writes that Obama seems to have decided to fire Tim Geithner and replace him with �the rotting corpse of Andrew Mellon� (Mellon was Herbert Hoover�s Treasury Secretary, who according to Hoover told him to �liquidate the workers, liquidate the farmers, purge the rottenness�.)"

http://krugman.blogs.nytimes.com/2010/01/26/obama-liquidates-himself/

Hmmm...the rotting corpse of Andrew Mellon...purge the rottenness. Haven't I heard that purge urged around here pretty often?

[Ya-ta Boy]

New political term of note: DEFICIT PEACOCK

How to Spot a Deficit Peacock
Four Ways to Tell When Someone Isn't Serious About the Deficit

Deficit hawks come in a variety of breeds. There are those who believe that the long-term deficits pose serious risks, but that short-term deficits are necessary and wise during a recession. There are those who believe that deficits are always risky and should be avoided at all costs. Both kinds of hawks are genuine in their concern over our nation�s finances and are sincerely committed to working toward a more sustainable federal budget.

And then there is another species of deficit bird all together: the deficit peacock. Deficit peacocks like to preen and call attention to themselves, but are not sincerely interested in taking the difficult but necessary steps toward a balanced budget. Peacocks prefer scoring political points to solving problems.

Here are four easy ways to tell when someone isn�t taking our budget problems seriously.

1. They never mention revenues.
2. They offer easy answers.
3. They support policies that make the long-term deficit problem worse.
4. They think our budget woes appeared suddenly in January 2009.

There are people from all parts of the political spectrum who strongly and sincerely believe that our current budget path is unsustainable and are committed to taking concrete steps to put the country on a better path. But there are also many who are only interested in scoring political points or in getting in the way of progress on this issue. Sometimes it can be difficult to distinguish between the two.

http://www.americanprogress.org/issues/2010/01/deficit_peacock.html

A pretty good article.

[Fox]

[bucheon bum]

[Ya-ta Boy]

conrad2/bucheon bum:

[bucheon bum]

Bush II was responsible for the biggest gov't spending programs since LBJ!

Ya-ta, come on man.. You buy all that hype? That's total bs. Fiscal conservatism is a concept, not a reality. Trust me, THERE IS GOV'T FAT.

[mises]

Who is going to pay for the deficit? "Other household"?

http://www.sprott.com/Docs/MarketsataGlance/12_2009_MAAG.pdf

Read that twice. Then once more. The party is over. Get responsible or prepare to get screwed.

[Sergio Stefanuto]

[Ya-ta Boy]

[Ya-ta Boy]