Reply #18: And Galbraith says that we need more comprehensive FINANCIAL REFORM.

[PA Democrat]

There is still too much incentive for profit-making through the Wall Street funny business rather than traditional lending.

The current deficits are largely due to the drop in tax revenues driven by unemployment. People who aren't working aren't paying taxes and aren't spending money. Cutting government spending without increasing private investment (through lending) to increase jobs will only extend high unemployment rates and would have no net positive effect on the deficit.

Sad that the simple logic escapes so many.