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Reply #32: All Hail The Great Deficit Commission! [View All]

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chill_wind Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-18-11 02:40 PM
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32. All Hail The Great Deficit Commission!
While we may not agree with every aspect of the Commissions recommendations, we believe that its work represents an important foundation to achieve meaningful progress on our debt, the senators wrote. By approaching these negotiations comprehensively, with a strong signal of support from you, we believe that we can achieve consensus on these important fiscal issues.


"Your proceedings are clouded by illegitimacy. (...) "

"The Best Place in History (for This Commission) Would Be No Place At All."



Most people assume that "bipartisan commissions" are designed to fail: they are given thorny (or even impossible) issues and told to make recommendations which Congress is free to ignore or reject. In many cases -- yours is no exception -- the goal is to defer recognition of the difficulties for as long as possible.

You are plainly not equipped by disposition or resources to take on the true cause of deficits now and in the future: the financial crisis. Recommendations based on CBO's unrealistic budget and economic outlooks are destined to collapse in failure. Specifically, if cuts are proposed and enacted in Social Security and Medicare, they will hurt millions, weaken the economy, and the deficits will not decline. It's a lose-lose proposition, with no gainers except a few predatory funds, insurance companies, and such who would profit, for some time, from a chaotic private marketplace.

Thus the interesting twist in your situation is that the Republic would be better served by advancing no proposals at all.

Thank you again for the opportunity to present this statement.

- James Galbraith



There Is No Economic Justification for Deficit Reduction
http://www.democraticunderground.com/discuss/duboard.ph...


http://www.fiscalcommission.gov/meetings/public-forum/a...
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