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How are those conservative austerity ideas working out?


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#1 cookinwithgas

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Posted 31 May 2013 - 06:06 PM

http://www.huffingto..._n_3364881.html

 

 

 


Private companies in the eurozone haven't managed to fill the vacuum created by drastically reduced government spending. In the United States, by contrast, governments have imposed far milder spending cuts and tax increases. Unemployment, at 7.5 percent, is far lower. And consumers and private companies have kept spending, steadily if modestly.

...

 

As a whole, the eurozone is stuck in its longest recession since the euro was launched in 1999. The six quarters of economic decline represent a longer recession than the one that followed the 2008 financial crisis, though it's not as deep.

The U.S. economy, the world's largest, has demonstrated far more resilience. It's grown steadily since the end of its recession in June 2009. And the U.S. job market has steadily improved: The unemployment rate has fallen sharply from a peak of 10 percent.



#2 Catalyst

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Posted 01 June 2013 - 04:06 AM

Some people will never understand that austerity died with the birth of America the world superpower. Our economy is so interconnected with our government and particularly the military that the sort of spending cuts most conservatives want would be a disaster for the private sector.

 

You can argue, I suppose, that it's a sad state of affairs when private companies depend so much on the government and I don't entirely disagree, but this is simply the reality of the situation as it exists in today's America.



#3 twylyght

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Posted 01 June 2013 - 05:27 AM

People would honestly be shocked at how little government they need to live their lives



#4 Panthro

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Posted 01 June 2013 - 07:43 AM

Duke Energy just raised your rates by $5000 a month

Free market. ..no govt

#5 PhillyB

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Posted 01 June 2013 - 03:43 PM

People would honestly be shocked at how little government they need to live their lives

 

i too long for band/tribe societal organization



#6 NanuqoftheNorth

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Posted 01 June 2013 - 04:28 PM

One of the greatest myths ever perpetuated by the GOP/Conservatives is that they believe in smaller government.  You won't see them cry about spending unless there is a Democratic President in the White House, otherwise in the words of Vice President Dick Cheney: "Deficits don't matter".  What the GOP actually believes in is less government support for people and more corporate welfare in the form of billion dollar subsidies and tax cuts for big business and their executives.  You know, the Military Industrial Complex, Big Banks, Big Pharma, Big Oil, The Farming Industrial Complex, The Prison Industrial Complex and so on. 

 

Why does the GOP persist in peddling this myth even though it is easily proven to be false time and time again?  Because it works on their low information audience.  In conjunction with giving lip service to social conservatives, the "smaller government" propaganda allows one tenth of one percent of our population to control the rest of society, many of whom are misguided hayseeds dreaming of the day that government will get smaller while passing even more stringent laws to subject all Americans to their evangelical social dogma.  

 

Revenue-Increases-vs.-Spending-Increases

 

http://www.dmperkins...ocrats-oh-wait/

 



#7 Catalyst

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Posted 02 June 2013 - 02:03 AM

People would honestly be shocked at how little government they need to live their lives

 

In some ways, I agree. But I think the opposite is true of the economy. People would be shocked at how much government spending props up our economy, primarily due to defense contractors and such, but also in terms of how many jobs are government jobs.

 

Take the great depression/WWII for example. It was the war that ended the depression. How? Because once we were attacked by Japan, the government started pumping billions into the private sector to build war materials. That lead to those companies hiring new workers to build these war materials, and so on and so forth.

 

That hasn't really ever stopped. After WWII it was the cold war, and even after the USSR collapsed we've maintained our huge military industrial complex. As long as it exists the American economy will depend heavily on government spending. Not entirely, no, but heavily.



#8 cookinwithgas

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Posted 02 June 2013 - 12:53 PM

Original hits it on the head, the Military Industrial Complex is real and now a fundamental part of the economy. Before WWII, Americas peacetime Army was barely funded, because the Founding Fathers did not want a real, full time standing army. After WWII we had to have it out of necessity because times had changed.

 

The only way off of this road is to slowly reduce military spending over time, something the Dems are slightly more willing to do - the Republicans can't help themselves from feeding it as much as possible though - not really sure why.



#9 Davidson Deac II

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Posted 02 June 2013 - 01:24 PM

Well, the house of representatives kept the president and senate from going overboard with the spending, and the economy is improving, so I would say they are working out fairly well. 



#10 GOOGLE RON PAUL

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Posted 02 June 2013 - 06:45 PM

yeah if it wasn't for the plucky house of representatives, america would already be a socialist dystopia



#11 twylyght

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Posted 02 June 2013 - 09:15 PM

In some ways, I agree. But I think the opposite is true of the economy. People would be shocked at how much government spending props up our economy, primarily due to defense contractors and such, but also in terms of how many jobs are government jobs.

 

Take the great depression/WWII for example. It was the war that ended the depression. How? Because once we were attacked by Japan, the government started pumping billions into the private sector to build war materials. That lead to those companies hiring new workers to build these war materials, and so on and so forth.

 

That hasn't really ever stopped. After WWII it was the cold war, and even after the USSR collapsed we've maintained our huge military industrial complex. As long as it exists the American economy will depend heavily on government spending. Not entirely, no, but heavily.

 

You are correct about the economy in its current state.  However, it wouldn't take long for it to recover from an absent buyer.  It would simply adapt and do it far quicker than most people on this board would imagine.  It simply an extension of the rejection of "too big to fail" supposition that has gone completely unchallenged in the forum of discussion.



#12 Delhommey

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Posted 02 June 2013 - 11:46 PM

Small government conservatives are all pretty much that "hippy" kid we all knew in college that supported her alternative lifestyle with daddy's credit card.

#13 twylyght

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Posted 03 June 2013 - 03:51 AM

Delhommey.... trolling.... again..... shocker



#14 Panthro

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Posted 03 June 2013 - 06:03 AM

Sorry but the military industrial complex would just turn around and sell to other countries. Capitalism for the win

#15 Davidson Deac II

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Posted 03 June 2013 - 06:41 AM

In some ways, I agree. But I think the opposite is true of the economy. People would be shocked at how much government spending props up our economy, primarily due to defense contractors and such, but also in terms of how many jobs are government jobs.

 

Take the great depression/WWII for example. It was the war that ended the depression. How? Because once we were attacked by Japan, the government started pumping billions into the private sector to build war materials. That lead to those companies hiring new workers to build these war materials, and so on and so forth.

 

That hasn't really ever stopped. After WWII it was the cold war, and even after the USSR collapsed we've maintained our huge military industrial complex. As long as it exists the American economy will depend heavily on government spending. Not entirely, no, but heavily.

 

 

Government spending makes up a significant percentage of the GDP, but that spending remains fairly consistent.  Any increases are small irt the overall economy.  What most people overestimate is the impact stimulus packages have.  They probably increase that spending by 1%.  So while it has an impact, I think the overall impact is usually exaggerated.  Not that I am against stimulus packages, just don't believe they matter as much as people think.

 

Fwiw, the great depression was over before we were attacked by Japan.  But you are correct that military spending played a big role.  But the military buildup actually began in the late 30's.  At the time of the attack on Pearl Harbor, the Navy already had several hundred new ships either just completed or under construction.  Other services also had significant increases.  And Britian and France were spending large amounts of money buying weapons from our factories.  In fact, the UK had dumped a significant percentage of its gold reserves into buying US weapons.   




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