Do Austerity Economics Work? | Page 2 | TigerDroppings.com

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NC_Tigah
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Member since Sep 2003
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re: Do Austerity Economics Work?


quote:

You can't cure stupid, NC_.
Cure?
Heck, I'd be satisfied to even provide palliative care.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
84254 posts

re: Do Austerity Economics Work?








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Duke
USA Fan
Gonzales, La
Member since Jan 2008
20294 posts

re: Do Austerity Economics Work?


quote:

Good God Almighty!


The government isn't the real debt problem though. Total debt to gdp is around 350%. 100% of that is coming from the government. Private debt is the debt we need to be focused on. Low demand for labor has wages stagnant, but people still have to pay the bills.

Causing a recession takes away the income needed to repay. Of course doing the cuts over a long period of time can be done and should be done. Households need time however to work down their debt.

Though I'll admit, there's something to be said for learning your lesson.







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Willie Stroker
LSU Fan
Houston...ish
Member since Sep 2008
4510 posts

re: Do Austerity Economics Work?


quote:

100% of that is coming from the government.

Now keep going...

Where does the government get that 100% FROM?







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Duke
USA Fan
Gonzales, La
Member since Jan 2008
20294 posts

re: Do Austerity Economics Work?


quote:

Where does the government get that 100% FROM?


A cut of the GDP.







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Willie Stroker
LSU Fan
Houston...ish
Member since Sep 2008
4510 posts

re: Do Austerity Economics Work?


quote:

When that spending cut will also cut your income, you're just treading water.


So you're under the impression that if the government stops taking more from the most productive sectors of the economy in order to pay for more less productive things with money we don't have....that the economy will get worse?

Please explain.






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Willie Stroker
LSU Fan
Houston...ish
Member since Sep 2008
4510 posts

re: Do Austerity Economics Work?


quote:

A cut of the GDP.


I'm not sure we're on the same page here. Perhaps I'm misunderstanding the point you're trying to make, but what productive value does government spending represent when the government takes MORE OUT of the productive sectors of the economy in order to advance the unproductive shell game of taking a larger share of GDP?






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WildTchoupitoulas
Member since Jan 2014
Member since Jan 2010
16500 posts

re: Do Austerity Economics Work?


quote:

Japan made a serious economic improvement with austerity measures. But I can't remember the time frame.

That was during their urban renewal campaign in 1944-45.

Americans help with Japanese Austerity plan:


Americans targeting Japanese government waste:






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Duke
USA Fan
Gonzales, La
Member since Jan 2008
20294 posts

re: Do Austerity Economics Work?


quote:

So you're under the impression that if the government stops taking more from the most productive sectors of the economy in order to pay for more less productive things with money we don't have....that the economy will get worse?


No. The tax hikes/spending cuts that go along with these austerity packages country after country in Europe have been rolling out.

I'm talking about taking less from the more productive sectors and using money we don't have yet to pay for a stimulus. So lower business taxes coupled with spending on infrastructure and education reform (i mean, if there was a chance in hell we'd do it right) to help the economy grow long term.

Then you cut spending as things start growing and also raise income taxes.



This post was edited on 12/7 at 2:23 pm


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bamafan1001
Alabama Fan
Member since Jun 2011
3008 posts

re: Do Austerity Economics Work?


quote:

No. The tax hikes/spending cuts that go along with these austerity packages country after country in Europe have been rolling out. I'm talking about taking less from the more productive sectors and using money we don't have yet to pay for a stimulus. So lower business taxes coupled with spending on infrastructure and education reform (i mean, if there was a chance in hell we'd do it right) to help the economy grow long term. Then you cut spending as things start growing and also raise income taxes.


The last "stimulus" was supposed to do these things. Why should the American people support another stimulus with the same people in charge when the first one was a sham?






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90proofprofessional
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Member since Mar 2004
9512 posts

re: Do Austerity Economics Work?


quote:

What can they do? There's seems no way out but default or bondholders taking a haircut

So eventual, unavoidable austerity is certain by nature of the situation, even though austerity as a policy "doesn't work"?Intredasting.






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Willie Stroker
LSU Fan
Houston...ish
Member since Sep 2008
4510 posts

re: Do Austerity Economics Work?


quote:

I'm talking about taking less from the more productive sectors and using money we don't have yet to pay for a stimulus.


So you're advocating lowering business taxes and increasing government spending with money we don't have? If so, where does that money we don't have come from? Are you advocating that we print more to create a hidden "tax" of inflation that raises living costs for everyone including the middle class and poor? Or are you advocating more future debt like our Prez?






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