Korean Job Discussion Forums

[Ya-ta Boy]

Obama is to give a speech (location to be announced) on Wednesday outlining his long term budget plan.

OTOH that is a good development. It is to be a more 'balanced' plan than Ryan's since it will include cuts in defense and his tax proposals.

I liked Steve Benen's piece on the dangers:

The benefit of an address like this, at least in theory, is to frame the debate in a responsible way. Republicans want to tackle debt reduction by eliminating Medicare, gutting Medicaid, slashing taxes for the wealthy (again), and struggling to actually reduce the debt much anyway. Democrats, the argument will go, have a more sensible approach that's more likely to gain public favor and acceptance. Don't go with that radical, reckless idea, the president is likely to say, go with my more prudent approach.

But then there's the flip side. Once Democrats commit to systematic debt reduction as policymakers principal goal -- as opposed to, say, economic growth -- it sets the terms of the debate. The unyielding dynamic locks everyone into answering the same question: how do tackle the deficit and the debt?

That's the question Republicans (and much of the media) want as the central focus, but there are more pertinent and important questions that should be prioritized, such as, "How about a jobs plan to reduce unemployment?" Or maybe, "How will taking money out of the economy and reducing public investment lead to more growth?"

What's more, it also sets baselines for a "compromise." If Obama presents a credible vision for long-term debt reduction this week, we'll have one pillar, which will serve as a counterweight to Paul Ryan's radical House budget plan presented a few days ago. But a moderate counterweight may not be wise -- if recent history is any guide, negotiations will produce a deal that's somewhere in between.

In this case, that'd be a disaster. Even half-way to Ryan's roadmap would destroy much of the modern American social compact, and prove devastating to the middle class.

Assuming that congressional Republicans are interested in a sincere, good-faith discussion about fiscal responsibility is folly. If this week's presidential speech simply presents a sensible answer to a dubious question, without regard for the larger political dynamic, the White House will be making a serious mistake.

http://www.washingtonmonthly.com/

Under different circumstances this would be a good idea. We do need, at some point, to deal with the deficit problem. Unfortunately, right now the GOP is in a radical phase. But there is no real way around it as far as I can see. The House controls the purse strings and we have a divided government. You play the cards you are dealt.

It could be we are going to have a real philosophical election over the proper role of government in 2012.

[Kuros]

[Ya-ta Boy]

The size of the deficit has been artifically--and deliberately--aggravated by extending the 'temporary' tax cuts last December.

The issue should be how to get the most people as possible back to work now. When people work, government revenues go up, the deficit can be brought down and even eliminated. It was done under Clinton with cooperation from both sides without radical shenanigans done to the safety net. It can be done again. The crisis atmosphere has been manufactured in order to enact a radical social agenda that is not popular and is as unnecessary as it is ill conceived and short-sighted.

It will never happen, but Obama's opening bid should be a restoration of the Eisenhower tax code of 90+%. There should also be a clause thrown in setting aside a specific percentage for debt reduction. Additionally, the federal criminal code should be amended to include the firing squad for the mere mention of a flat tax.

[Kuros]

[bucheon bum]

[Ya-ta Boy]

You seem to have skipped my sentence where I said jobs should come before anything else. Then the mountain of debt begins to shrink, maybe not to mole hill size, but shrink, as we return to full employment and government revenues return. Making projections from the worst point in a crisis only makes the crisis seem more formidable than it needs to. Climb out of the hole first, then take size of the situation.

A cool head in a crisis is worth two in a bush, or something like that.

[Kuros]

[Ya-ta Boy]

[Kimbop]

Ideologically the GOP would rather pay off debt than save lives through medicare, but they haven't practised what they preach for decades. The Dems on the other hand would revel in debt as long as abortions are free and welfare recipients collect unemployment for life; parodoxically the 'tax and spend' Dems have demonstrated their ability to balance the books. (except for Obama).

Please also excuse my hyperbole.

Neither party is willing to make these difficult decisions; hence, the perils of democracy:

[Kuros]

Obama turns to Bowles-Simpson

[lithium]