Paul Ryan: (EDIT) knows exactly what austerity is

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    Oct 25, 2011 7:40 PM GMT
    So apparently he doesn't know what his party is doing is austerity, or he thinks that his brand of austerity isn't painful. Or he doesn't know what austerity is and is just using it as a label to blame what HE is doing on Obama.
    http://politicalcorrection.org/blog/201110240007RYAN: Let's review for a moment the path we are on, where we stand right now. It pains me to say this, but it's become clear that the president has committed us to the current path: higher taxes, more dependency, more bureaucratic control, inaction on the drivers of our debt — just not even dealing with it — and painful austerity, the kind you see in Europe


    While all sensible people (including the Economist, ultimately a rather conservative magazine) have called for medium term spending cuts and short term stimulus, it's the GOP and Tea Party which have pushed for austerity for the last 2 years at least. And were it not for the cuts in government employment, we would have a much better unemployment rate.
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    Oct 25, 2011 7:56 PM GMT
    Bullshit lies from Ryan, as per usual.

    The FACT is that taxes are at the lowest levels since 1950, and Obama has already signed a massive debt REDUCTION bill - unlike our last president, who promised to eliminate the National Debt by the end of his term, but who instead did NADA to try to eliminate the National Debt - and who ended up DOUBLING the National Debt by the end of his term.

    Ane the FACT is that the main "drivers of our debt" are spending obligations put in place by BUSH: the Bush tax cuts, the Bush wars, and the Bush prescription drug bill.

    THE REPUBS WILL SAY ANYTHING.
    NEVER TRUST THE REPUBS.
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    Oct 26, 2011 2:42 AM GMT
    It is probable he just does not know what the word means.
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    Oct 26, 2011 2:55 AM GMT
    I have worked with these Republican message makers and I'll tell you one very important thing. The idea of cutting deficits is used as a means of exciting the base. Big Money doesn't care about deficits and Republicans only do what Big Money wants. No taxes is what Big Money wants.

    Who pays for airports, roads and bridges or the military doesn't interest them as long as it's not them.
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    Oct 26, 2011 3:26 PM GMT
    q1w2e3 saidSo apparently he doesn't know what his party is doing is austerity, or he thinks that his brand of austerity isn't painful. Or he doesn't know what austerity is and is just using it as a label to blame what HE is doing on Obama.
    http://politicalcorrection.org/blog/201110240007RYAN: Let's review for a moment the path we are on, where we stand right now. It pains me to say this, but it's become clear that the president has committed us to the current path: higher taxes, more dependency, more bureaucratic control, inaction on the drivers of our debt — just not even dealing with it — and painful austerity, the kind you see in Europe


    While all sensible people (including the Economist, ultimately a rather conservative magazine) have called for medium term spending cuts and short term stimulus, it's the GOP and Tea Party which have pushed for austerity for the last 2 years at least. And were it not for the cuts in government employment, we would have a much better unemployment rate.


    Well, you're obviously a lot more dumb than I thought or you'd be able to figure out precisely what his message is, notably that we need to take action now with some painful cuts and changes in our spending habits if we are to avoid severe austerity which is always the result of liberal policies lauded by people like yourself. Pretending that we can continue with the current spending is pro-austerity. What is your plan? Where is your plan? Oh that's right, you don't have any!

    It's always easy to conveniently criticize the person with the plan from a distance when you have no alternative.

    We already know that if we took every bit of money from every "rich" person in this country we would still probably only be able to run government for a year, if not less than that. We spend too much, that is our problem.







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    Oct 26, 2011 8:59 PM GMT
    For those unfamiliar with the term:

    http://en.wikipedia.org/wiki/Austerity
    In economics, austerity is a policy of deficit-cutting, lower spending, and a reduction in the amount of benefits and public services provided.

    KrugmanSo unless Obama agrees to sharp spending cuts, we’ll be forced into austerity? What?

    Wait, it’s worse: just the other day, Ryan and colleagues were praising European-style austerity; they bought into the “expansionary austerity” thesis just as it was collapsing intellectually.
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    Oct 26, 2011 9:08 PM GMT
    q1w2e3 saidFor those unfamiliar with the term:

    http://en.wikipedia.org/wiki/Austerity
    In economics, austerity is a policy of deficit-cutting, lower spending, and a reduction in the amount of benefits and public services provided.

    KrugmanSo unless Obama agrees to sharp spending cuts, we’ll be forced into austerity? What?

    Wait, it’s worse: just the other day, Ryan and colleagues were praising European-style austerity; they bought into the “expansionary austerity” thesis just as it was collapsing intellectually.


    You being one of those unfamiliar with how the term is being used:

    from the same article:

    "Austerity measures are typically taken if there is a threat that a government cannot honor its debt liabilities. Such a situation may arise if a government has borrowed in foreign currencies that they have no right to issue or they have been legally forbidden from issuing their own currency. In such a situation banks may lose trust in a government's ability and/or willingness to pay and either refuse to roll over existing debts or demand extremely high interest rates. In such situations, inter-governmental institutions such as the International Monetary Fund (IMF) typically come in and demand austerity measures in exchange for functioning as a lender of last resort."

    We need to make responsible spending cuts now in order to avoid the more severe catastrophic reforms necessary (the austerity measures he's referring to) if we continue to follow the status quo liberal spending agenda.
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    Oct 26, 2011 9:35 PM GMT
    Actually, now I see what Ryan's point is. European austerity has one thing that is not in common with current US austerity: both types of austerity cut public jobs, pensions, health care benefits, etc.

    The main difference is: the Europeans are willing to raise taxes on their wealthiest populations. Because the Europeans are in earnest when they want to cut their deficits.

    So I take it all back: Ryan is exactly right when he says European austerity is painful. I.e. it's rather painful for those with incomes above $1 million to pay an extra 1% income tax so that 500000 teachers, firefighters and police officers can get jobs. It far less painful just to cut those jobs (which we've already done).

    http://www.bbc.co.uk/news/10162176
    http://theeconomiccollapseblog.com/archives/austerity-in-america-22-signs-that-it-is-already-here-and-that-it-is-going-to-be-very-painful
    recessiongovtjobs.png
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    Oct 26, 2011 9:45 PM GMT
    And you got to hand it to Ryan's oratorical skills. He's implicitly stated the following (pointed out in a comment on Krugman's blog):

    Austerity is European. Europe is socialist. Obama is a socialist. Ergo, Obama is for austerity.
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    Oct 26, 2011 9:47 PM GMT
    Paul Ryan doesn't know much about anything but helping the rich and sh*tting on the poor.
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    Oct 26, 2011 9:51 PM GMT
    q1w2e3 saidActually, now I see what Ryan's point is. European austerity has one thing that is not in common with current US austerity: both types of austerity cut public jobs, pensions, health care benefits, etc.

    The main difference is: the Europeans are willing to raise taxes on their wealthiest populations. Because the Europeans are in earnest when they want to cut their deficits.

    So I take it all back: Ryan is exactly right when he says European austerity is painful. I.e. it's rather painful for those with incomes above $1 million to pay an extra 1% income tax so that 500000 teachers, firefighters and police officers can get jobs. It far less painful just to cut those jobs (which we've already done).

    http://www.bbc.co.uk/news/10162176
    http://theeconomiccollapseblog.com/archives/austerity-in-america-22-signs-that-it-is-already-here-and-that-it-is-going-to-be-very-painful
    recessiongovtjobs.png


    Greece is the austerity Ryan is talking about. We have to avoid becoming Greece. The people didn't want taxes and they didn't want cuts, so they get what they deserve. The American people will also get what they deserve and what they vote for.