"With all the hoo-hah over the deficit fandango, relatively little attention was paid to the latest GDP number and the prior revisions to growth.
The US needs to get serious about jobs creation and median wage growth. Austerity does not facilitate growth, despite the corporatist spin to the contrary.
The problem with the first stimulus package was that it was too heavily weighted to tax cuts and efforts to promote consumption, and not programs to stimulate domestic jobs growth.
Cutting taxes, including capital gains taxes, does not promote growth. Reducing government in and of itself does not promote growth. These are fallacies that continue to hurt the country.
To accomplish its goals, the US must prioritize its spending away from financial and military adventurism, and let go of the false theories of efficient markets and trickle down growth.
That will be difficult given the current structure of the country's leadership and the embedded nature of its crony capitalism..."
at http://jessescrossroadscafe.blogspot.com/2011/07/great-recession-is-worse-than-we-were.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29
The US needs to get serious about jobs creation and median wage growth. Austerity does not facilitate growth, despite the corporatist spin to the contrary.
The problem with the first stimulus package was that it was too heavily weighted to tax cuts and efforts to promote consumption, and not programs to stimulate domestic jobs growth.
Cutting taxes, including capital gains taxes, does not promote growth. Reducing government in and of itself does not promote growth. These are fallacies that continue to hurt the country.
To accomplish its goals, the US must prioritize its spending away from financial and military adventurism, and let go of the false theories of efficient markets and trickle down growth.
That will be difficult given the current structure of the country's leadership and the embedded nature of its crony capitalism..."
at http://jessescrossroadscafe.blogspot.com/2011/07/great-recession-is-worse-than-we-were.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29
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