Monday, April 21, 2014

America will recover

EDITOR: Mr. Alger’s letter “Basically Bankrupt” again insists the need for austerity no matter what. Without austerity America is on the road to bankruptcy. Game over.

According to Dr. Alger the patient is dying so the only solution is to bleed him. Cut his artery and bleed him out to solve his fiscal illness. It seems to me saving the patient by killing him seems rather foolhardy.

Now, there is no question we must address our deficits and national debt with the solution being additional revenue and spending cuts over time. However, austerity alone leads to recession, reduced demand, and increased unemployment resulting in a rise in the deficit and national debt. A rise, not a reduction. Mr. Alger may want it, but a rush to the bottom is not something I want for our country.

Mr. Alger continues to use Greece in his fiscal argument. Greece and the United States are alike only in that both are countries (Mr. Alger, don’t you know that Greece came into financial trouble because most of their citizens were evading taxes?). When you hear or read someone touting the example of Greece, you can be assured that individual is presenting a Tea/Republican talking point that is
designed to mislead.

Finally, Mr. Alger suggests I may be obtuse because I do not buy his defeatist claims. I wonder if Mr. Alger is obtuse? Oh, I think not. Instead he cleverly crafts his message and parrots and parrots and parrots the austerity Party line in the Mountain Democrat. A message which is sadistic — austerity no matter how much it inflicts pain and misery on millions of our citizens. Lost jobs, lost homes,
and even suicides where people have lost all hope. But, I’m sure Mr. Alger would claim collateral deaths are necessary for the greater good of his cult of austerity. That is, as long as it is not his death.

America will get back on its fiscal feet, if only we can survive Mr. Alger.



Letters to the Editor


Discussion | 22 comments

  • Phil VeerkampJanuary 25, 2013 - 6:28 pm

    Colonel your argument brings to mind the compassionate recovery experts who insist that an alcoholic needs to “taper off”. “Cold turkey” might kill the patient. I’ve known alcoholics who were “tapering off” for years and years before they killed themselves and others during the “tapering off process”. Addicts and alcoholics are deadly while “tapering off”. So might also be the addiction to credit.

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  • James E.January 25, 2013 - 7:43 pm

    Phil, your objections noted. So you believe brutal austerity is the answer? If so, we will have to agree to disagree. Only 9 more days til February 3rd!!!!

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  • Phil VeerkampJanuary 25, 2013 - 9:21 pm

    . . . and tomorrow my great-granddaughter, Kirsten, 10yrs, sings the National Anthem in Saginaw, MI at the Shrine Circus. Th’ Missus and I spread a cloud of CO2 from Ca. to Mi. trying to warm things up – No luck – 10 degrees now – must rush back to Ca to enjoy FEB 3rd with friends and family. Life is good. I sure hope that our CO2 contribution to the environment helps a little. Damn it’s cold outside!!!

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  • James E.January 25, 2013 - 9:58 pm

    Phil, I once suffered -45 degrees in Kansas. When it got back up to -10 I thought summer had arrived. Good old California where 35-40 degrees is cold.

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  • cookie65January 28, 2013 - 7:29 am

    The bamster spent $800+ billion stimulating nothing even romotely connected to the economy and unemployment went up 2% and remains there. At the time we were told it wouldn't exceed 6% if we "didn't" payoff the public sector unions and campaign contributors with money borrowed from unborn generations. How big should the debt be James before we have to be honest with the freeloaders that there aren't any crumbs left? How much should future generations pay for the dependence in this country? How negative does your checking account get before you stop writting checks? The national debt of $16,000,000,000,000 is not determined using GAAP (generally accepted accounting practices) because that method includes financial obligations. If it were the national debt is nearly $100,000,000,000,000. The cow-town of Sacramento is $2billion in debt. The state is over $60billion in debt. The state of Illinois has $98billion in public sector pension debt. What is the number James where we can no longer spend our way out of bankruptcy? Taking money from the private sector and transfering it to the public sector stimulates nothing and only increases the financial obligation on the private sector. Robbing Peter to pay Paul is a failed experiment.

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  • cookie65January 28, 2013 - 9:05 am

    How much more of this would you support James?

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  • cookie65January 28, 2013 - 11:02 am

    I was in New Orleans on the 15th and 16th they have the Mercedez Benz dome all decorated. It is a very unique antique brass color. Awesome gumbo in the French Quarter.

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  • cookie65January 28, 2013 - 11:14 am

    James, even the lapdog cheerleaders at the WaPo are showing some concern over what they have helped to create.

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  • Jack MartinJanuary 28, 2013 - 3:17 pm

    Geeezzz, James, even your medical analogies miss the mark completely. America is not a dying patient that some people want to bleed to death. America is a morbidly obese patient that needs to lose weight. The excess weight is a threat to her entire body. Any normal, rational human being would encourage that patient to lose weight, not keep feeding it.

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  • Phil VeerkampJanuary 28, 2013 - 6:22 pm

    James- off topic - apologies - LINK - BREAKING - January 21st explosion - Iran nuclear site Batchelor live reporting

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  • Phil VeerkampJanuary 28, 2013 - 6:29 pm

    LINK - Mystery over 'explosion' at Iran's Fordow nuclear site

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  • James E.January 28, 2013 - 6:54 pm

    Mr. Martin, didn't Mr. Alger say if we don't deal with our deficit/national debt exclusively with austerity we are finished? I take that to mean dying. Are the deficit scolds (Ryan, Boehner) beginning to lose traction in DC? Hope that more and more are realizing that deficits are second to jobs.

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  • Jay DanielsJanuary 28, 2013 - 6:55 pm

    James- I, for one, appreciate your patience in trying to communicate basic economics. But, from the level of the arguments advanced in the above comments, I would say that you would have better luck teaching nuclear physics to a salamander.

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  • TerryJanuary 28, 2013 - 8:34 pm

    Jay, actually I wish James would stop try to preach the failed theories of John Maynard Keynes. FDR tried this and failed as did Japan in the 1990’s. Instead look to Harding and the 1919/20 recession for guidance. Harding cut Federal spending significantly and followed with tax cuts. This led to the roaring ‘20s when the economy boomed. Unfortunately, the safe guards were not in place to prevent the speculation in the stock market much the same as our recent housing boom and bust. Entitlements, SS, debt service, welfare, etc., consume our entire Federal income plus $10B. The entire operating budget of the Federal government including DOD, USDA, Interior, Homeland Security, Justice, Energy, Transportation, Commerce, Education, Health, State, etc. comes from borrowed or printed funds. This cannot continue indefinitely. I do agree with James that we need jobs, but not government jobs. We can generate jobs by reducing taxes, repatriating corporate funds now overseas, reducing the ever increasing regulatory environment, stopping EPA’s war on energy production, killing ObamaCare, and stopping this stupid global warming initiative. We are on the cusp of an energy boom in this country. We need to ride that boom to reduce energy costs which will increase domestic manufacturing. We need to free up capital in this country so we all can work. Government confiscation of capital for redistribution does not create wealth. We need to demand that every dollar Washington spends creates something of tangible value, increases our security, or improves our competiveness. Yes, James and Jay, austerity is a big part of it. We can start by going to zero based budgeting rather than baseline budgeting. When politicians talk about cuts, they basically are talking about a decrease in the increase not actual cuts. We need actual cuts. We need the laser that Obama promised but never delivered. There are hundreds of empty government buildings, there are Federal lands that could be leased for energy production, there is oodles of waste in the Federal bureaucracy…. A blind man could find the low hanging fruit, which if plucked would not negatively impact the economy but would actually contribute to it since we would not be borrowing so much. We may not be able to starve the beast but we need to at least put it on a diet.

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  • Jay DanielsJanuary 28, 2013 - 8:41 pm

    I guess I was being unfair to the salamanders.

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  • cookie65January 29, 2013 - 9:39 am

    The road America is on.

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  • Jack MartinJanuary 29, 2013 - 10:13 am

    Jay's response to Terry exemplifies why you can never get a Progressive to engage in a factual debate. Terry presented numerous factual and historical points which Jay evidently didn't care for. Instead of refuting them with facts and points of his own... just issued an insult. That is not the exception when engaging with a Progressive/Liberal, but more often the Rule. If you want a speed session in this behavior, try going to the SFGate website (Online version of San Francisco Chronicle) and engage the self-proclaimed Progressives in a discussion they do not like. That's a peek into a world of hatred you never knew existed.

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  • cookie65January 29, 2013 - 2:00 pm

    Jack, sites like SFgate and my favorite huffpo have monitored words that prevent the obamabots from being exposed to any reality. It is truly hysterical to imagine people in the age of the internet to remain so pathetically ignorant. Even worse than their inexcusable ignorance is how proud they are of it. One of the banned words is 'groupthink'. Comments are deleted if they are not in line with what libs believe to be true even if they are fact. They truly are low information people.

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  • Jack MartinJanuary 29, 2013 - 3:56 pm

    "groupthink" is a banned word at HuffPo? Kind of ironic...

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  • Paddy O'furnitureJanuary 29, 2013 - 7:30 pm

    @ Jay Daniels, do you even know who John Maynard Keynes was? How about a couple of blokes by the names of Von Mises and Hayek? If no, then you really know little about economics except what MSNBC gives you. (Don't know if you watch them or not, but insulting media outlets of opposing veiw points seems to be big here). Do a little research about Austrian economics versus Keynesianism and let us know if you learn anything.

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  • TerryJanuary 29, 2013 - 10:33 pm

    Ah, Paddy, that's not fair. You jumped right into nuclear economics. They are still struggling with cold fusion economics.

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  • Kirk MacKenzieJanuary 30, 2013 - 6:43 am

    Mr O'Furniture -- I know a bit about Keynesian economics. Simply put, he argued for deficit spending during economic contractions and running a surplus during expansions. Don't blame Keynes for the lack of political discipline required to execute on the 2nd half of that philosophy. Here is an interesting link showing surplus/deficit spending and political party...very depressing: It has been more than 60 years since single-party control ran a surplus.

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