Comments on: Austerity Warning #135: When Did Masochism Become a Viable Economic Policy?

By: Misaki

Misaki — Sun, 31 Jul 2011 01:09:10 +0000

How interesting..! While 66% of the public thought a deal would be made by Aug 2, as late as last month only 24% thought the debt ceiling should be raised. Even among those closely following the issue, only 51% think it should be raised. (29% for those not following it closely) This, of course, is why we have polls.

By: Michael McDaniel

Michael McDaniel — Fri, 29 Jul 2011 13:19:59 +0000

My father died last year. He will be gratified to see that we are finally going to see how tough living in a Depression can be. He always voted Republican after gaining his own small fortune. I believe he believed in the “stick” theory of forcing people to be good.

By: bdbd

bdbd — Fri, 29 Jul 2011 03:02:28 +0000

What does “austerity” sound like in a Boston accent?

By: Kevin Rica

Kevin Rica — Fri, 29 Jul 2011 01:00:26 +0000

Jared,

Whether its masochism or not depends on who you are advocating cutting.

If I cut my own standard of living and empty my wine cellar, that’s masochism.

But if I cut your standard of living and empty your pantry, that’s sadism.

By: Geoffrey Freedman

Geoffrey Freedman — Wed, 27 Jul 2011 22:59:15 +0000

This is so ridiculous. You can’t even balance the budget via cuts alone. Social Security essentially pays for itself right now. If you cut Medicare by 50%, the and rest of the descretionary spendo=ing including the military, you still have a deficit of half a trillion per year. Oh – thats the amount of revenue lost inthe Bush tax cuts plus the revenue lost in the recession.

Oh my! How much is 2 plus 2?

By: Fred Donaldson

Fred Donaldson — Wed, 27 Jul 2011 18:32:56 +0000

The elite think we are like them – rich enough to absorb $3.75 a gallon gas, wage cuts of ten percent, end of food stamps and unemployment benefits, and no paying job after months upon months.

When faced like the problems noted above, the trust fund buddies tell their accountant to transfer some bucks from A to B. They chuckle at plans to rape Social Security, Medicare and Medicaid – those “giveaways” for the unwashed multitude of lazy and uninspired. It is so much fun to be on top of the ladder, such entitlement to inherit without effort, except attendance at your own birth.

We, on the other hand, have to decide which hell hole is best for our mother’s final days, while looking a year or two for a job to pay the just increased electric bill and rent.

We are the “lesser people”, but we are sucking on air, not government largesse, and we are gasping, blue, afraid, so tired, hopeless souls wandering outside the gated clubhouse villas.

By: David

David — Wed, 27 Jul 2011 15:17:34 +0000

I gather there are quite a few Republican representatives who think that the right path forward is to maintain the current debt ceiling, and immediately slash spending to match current tax receipts.

I think the projected annual deficit at the moment is upwards of $1.5 trillion. Try to imagine the economic consequences of an immediate $1.15 trillion spending cut. Try to imagine the human consequences of suddenly destroying the whole safety net.

This is nothing less than insane, and I greatly fear for our country.

By: bill n

bill n — Wed, 27 Jul 2011 14:57:24 +0000

Facts, shmacks. That the Teas don’t understand any of this is not what’s scary to me. What’s scary is that, per the NYT front page today and other places, Boehner is the -moderate- Repub. And he’s rapidly loosing influence.

By: Michael

Michael — Wed, 27 Jul 2011 14:51:00 +0000

When Obama decided it was time.

By: PeonInChief

PeonInChief — Wed, 27 Jul 2011 14:50:20 +0000

I can only hope that the rating agencies do downgrade the debt and the Democrats then get the ovaries to prosecute them for all their bad behavior during the housing bubble. Just the thought makes me feel a tiny bid sadistic.