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robertogreco : nationaldebt   3

Christopher Newfield: Was the Innovation Economy Killed by the Debt Debate?
"What kind of a country sanctions the top-25 hedge fund managers earning $22 billion personally? What kind of country cuts services to people who would need 250 years to earn the salary a CEO earns in one year -- so that CEO can pay lower taxes than his secretary?

Our political discourse has successfully shamed people out of asking these questions. But when they do, the answer to what kind of country we are is: not a country that fairly rewards hard work, individual creativity or pulling together to solve shared problems. Any belief in the general benefits an innovation economy are mocked by current levels of inequality, fueled by a mania for tax avoidance, much like that which created poverty amid the aristocratic plenty of pre-revolutionary France.

Until policymakers can support both innovation jobs and levels of equality that spell mutual respect, the majority will not vote to pay for the economic renewal we need."
christophernewfield  economics  us  politics  inequality  wealth  wealthdestruction  taxes  government  policy  stem  innovation  2011  nationaldebt  debtcrisis 
august 2011 by robertogreco
How big is the problem? | The wrong cure | False Economy
"No country can run huge deficits every year for ever.

The bigger the national debt that builds up, the more expensive it is to meet interest payments. At some point it becomes more difficult and more expensive for governments to borrow extra money because people become reluctant to lend to them.

But we are nowhere near that point in the UK. Let's look more closely at the national debt. "
uk  debt  nationaldebt  2011  infographics  charts  economics  statistics  policy 
march 2011 by robertogreco
Op-Ed Contributor - Four Deformations of the Apocalypse - NYTimes.com
"The day of national reckoning has arrived. We will not have a conventional business recovery now, but rather a long hangover of debt liquidation and downsizing — as suggested by last week’s news that the national economy grew at an anemic annual rate of 2.4 percent in the second quarter. Under these circumstances, it’s a pity that the modern Republican Party offers the American people an irrelevant platform of recycled Keynesianism when the old approach — balanced budgets, sound money and financial discipline — is needed more than ever."
economics  policy  georgewbush  taxes  reagan  reaganomics  republicans  deficits  balancedbudets  budget  2010  money  finance  debt  nationaldebt  texcuts  disparity  wealth  us  government  davidstockman 
august 2010 by robertogreco

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