Thursday, December 20, 2012

How to eliminate the deficit and live happily every after

I didn't play the fiscal cliff game myself because, hate numbers. But I bet it's fun if you like this sort of calculating:
Your job, should you choose to accept it, is to figure out a path forward using this calculator. First, identify which aspects of the fiscal cliff’s tax increases and spending cuts you would allow to go forward, and which you would cancel. Then, pair it with other deficit-reduction policies you want to enact to start bringing deficits down even without the pain of an immediate austerity crisis. Then, add in any stimulus measures you might want to cushion the blow of deficit reduction and try to get the economy on track.
Me, I think everyone should just listen to Atrios. He did it and came up a surplus by 2016 and hefty growth thereafter. How did he do it, you ask?
Things I did: double make work pay, American Jobs Act, income tax rebate, public option, increase payroll tax cap, increased the gas tax, carbon pricing, and extending the payroll tax cut.
You know, liberal, hippie, Keynesian stuff. And if you need further convincing that our only spending problem is we aren't spending enough, another reminder that austerity doesn't work. It just makes things worse.

[Big thanks to Micheal JW Stickings of The Reaction for kindly linking in at Mike's Blog Round-up]

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