5 Sectors Retarding Economy, 2 Caused by GOP's Austerity

  • Posted by a hidden member.
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    Aug 04, 2014 3:26 PM GMT
    NYT: But why? Where is this gap coming from? To get at an answer, we needed a more basic question: What would the economy look like right now if it were fully healthy, and how is the actual reality of the economy right now different from that?

    Five pieces that are the major culprits in the nation’s economic malaise, each vastly undershooting what they would look like in our model of a healthy economy: residential investment; consumption of durable goods; state and local government spending; business investment in equipment; and federal government spending.

    Together their deficit adds up to $845 billion — in other words, if those sectors returned to their typical share of economic potential, the economy wouldn’t just be doing well, it would be in an outright boom. The GOP's austerity has held back both state and local government spending and federal government spending.

  • mybud

    Posts: 11777

    Aug 04, 2014 6:21 PM GMT
    Again, the republicans wanted to destroy the government and model something that would reward the "haves" and screw the "have nots".
  • tj85016

    Posts: 4123

    Aug 05, 2014 12:11 AM GMT
    lol since when is $700 billion in Federal budget deficit spending in '13 "austerity"?


    yeah that's some real austerity lol