Liberal Democrat

Liberal Democrat
Individual Freedom For Everyone

Friday, November 16, 2012

Salon: Robert Reich: "Stop Income Inequality!": How To Get To Economic Growth & Fiscal Responsibility

Stop income inequality!

I'm not an economist and don't pretend to know more about economics then Progressive economist Robert Reich. But when your national debt equals the national economy, which is where we are now and with our debt growing faster then our economy. Because we are currently growing at 2% but we have annual deficits over 1T$ every year, we simply can sustain that. And its only going to be a question of whether we decide to get our debt and deficit under control or those decisions are done for us. And with economic growth being as weak as it is and interest rates and inflation being as low as they are. Now is the time to do that but in a fiscally responsible way that doesn't hurt anyone, that reforms and protects and saves our entitlements. For the people who needs them, that gets people who can afford to pay more in taxes to do so and cuts and reforms our Federal Government in a way. That makes it more efficient, effective and cheaper, thats what a balance approach to deficit reduction looks like without. Putting any details on the table.

As far as income inequality which since the Great Recession has occurred has only gotten wider, where we see. People who were living in the middle class just four years ago are now collecting public assistance to pay their bills. Or are working and making less then they were four years ago while the wealthy are still doing very well, if not better then they were four years ago. This is an issue that should be addressed as well but not instead of addressing deficit reduction but doing them both at the same time. With an economic and fiscal policy that puts us on course to pay down the debt and deficit and at least at some point in a. Timely way that puts us in position to balance the budget and creates an economy thats growing for everyone. Where the middle class are getting wealthier and moving up, people are moving out of poverty and into the middle class. And where even the wealthy are doing well, because now more Americans have money to spend but where they are also paying their fair share of taxes.

You do this by educating people who are currently unemployed and haven't ever gotten enough education in. Life to be self sufficient or who do have a formal education but perhaps lost a job thats not coming back, rebuilding our country. And putting people back to work that way, who already have the skills but just need work to do and reforming our tax code. So business's want to do business here now and in the future and you do all of this in a fiscally responsible way. That doesn't add to our debt and if anything helps pay it down because of the new economic growth that it generates.
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