P-E Obama says he doesn't care how much the deficit grows, do you?

[RB TexLa]

Poll question: P-E Obama says he doesn't care how much the deficit grows, do you?

For two years we should not care how much we add to the debt?




CHICAGO (Reuters) – The United States government should not worry about deficits over the next two years while spending money to jumpstart the ailing economy, President-elect Barack Obama said in a television interview that aired on Sunday.

Obama, a Democrat who takes over from President George W. Bush, a Republican, on January 20, said consensus had emerged between economists in both major U.S. political parties that expensive measures were necessary to avoid a deep recession.

"The consensus is this, that we have to do whatever it takes to get this economy moving again, that we have to -- we're going to have to spend money now to stimulate the economy," he told the CBS television network's 60 Minutes news program.

"And (consensus is) that we shouldn't worry about the deficit next year or even the year after; that short term, the most important thing is that we avoid a deepening recession."
http://news.yahoo.com/s/nm/20081117/pl_nm/us_usa_obama_deficits_2

[Buzz Clik]

1. This poll is bullshit. It's not what he said.

The title of this thread/poll is intentionally misleading.

Taking cues from Karl Rove?

[hlthe2b]

7. Par for the course for some posters...

I don't know why they persist in this BS...

[Imperialism Inc.]

23. It is a ridiculous push poll. How about wording the option that he

obviously dislikes in a fair way. If his goal is to learn something that is.

The government is supposed to spend in a recession. Obama has it exactly right. In a recession people spends less, businesses spend less. One role of government is that it should make up the gap. I find it annoying that supposed democrats are now pushing the same idiotic ideas John McCain based his campaign on. That somehow doing nothing or cutting back on spending is going to help us. It isn't. It is completely back-asswards.

[JI7]

2. misleading

[babylonsister]

3. What a stupid poll. Yes, PE Obama's goal is to end

the US as we know it, not try to build it up and get people jobs. :eyes:

[tavalon]

4. None of your poll votes work for me

He has studied the best that is out there from history and current POV and the concensus seems to be that spending now will help the economy get back on track and then with a higher tax base, we will be able to reign it in. Yeah, he's gonna be a tax and spend Democrat but he may just save our country and save the world.

I had heard this before I heard it from him and I was relieved that he seems to be taking good counsel on this despite the fact that this isn't a middle America popular view.

[The Velveteen Ocelot]

5. He did not say he didn't care about the deficit.

He said only that it's more important in the short term to stimulate the economy. Your poll isn't honest.

[slinkerwink]

6. We need spending now by the government to jump-start economy

and to restore consumer confidence. When that happens, then we can look at cutting down the deficit in Obama's second term.

[fasttense]

8. For the time being this economy needs some life support and worrying

about the medical bills now wont help. We've got to keep the patient alive and hope once he's well he can get a good job. But if the patient dies, no point in worrying about the future.

[JVS]

9. While his thinking is consistent with Keynsianism, one wonders if the current economic environment..

can support it. When we tried this the first time 70 nearly 80 years ago, we were not already up to our eyeballs in debt. The effectiveness of this the first time around was also not an indisputable issue, and recovery was fitful and tenuous rather than strong and steady.

[Are_grits_groceries]

10. Krugman and other economists say that deficits during a recession should not be the primary worry.

In his Oct. 16 column in The New York Times, Krugman writes, "It's politically fashionable to rant against government spending and demand fiscal responsibility. But right now, increased government spending is just what the doctor ordered, and concerns about the budget deficit should be put on hold."

http://www.npr.org/templates/story/story.php?storyId=95929699

Krugman is one of the economists I will listen to.

[Triana]

14. Yep. It's imperative right now to avoid a deeper recession/depression. We need to worry about...

...the deficit - AFTER we get our economy shored up.

[TheCowsCameHome]

11. He said that? Word for word?

I don't think so.

[Are_grits_groceries]

15. Did you follow the link?

I paraphrased, but what I wrote is what he was saying.
I don't think I took too much liberty, if any. :hi:

[TheCowsCameHome]

16. I think you are replying to someone elses post.

I was replying to the OP.

[Are_grits_groceries]

17. Sorry! I hope I didn't offend! It's hard to tell sometimes!

[TheCowsCameHome]

30. Oh no, no offense taken here.

Simply pointing it out.

And a belated welcome to DU! :fistbump:

[Dawgs]

12. Stupid and misleading poll.

[LWolf]

13. If we have to spend it to stimulate the economy,

can we do it FDR style, instead of handing all the cash over to corporations?

:grr:

[OmmmSweetOmmm]

18. Directly from the transcript of the interview

http://www.cbsnews.com/stories/2008/11/16/60minutes/main4607893_page3.shtml

Kroft: Where is all the money going to come from to do all of these things? And is there a point where just going to the Treasury Department and printing more of it ceases to be an option?

Mr. Obama: Well, look, I think what's interesting about the time that we're in right now is that you actually have a consensus among conservative Republican-leaning economists and liberal left-leaning economists. And the consensus is this: that we have to do whatever it takes to get this economy moving again, that we're gonna have to spend money now to stimulate the economy.

And that we shouldn't worry about the deficit next year or even the year after. That short term, the most important thing is that we avoid a deepening recession.

[yodoobo]

19. Deficit won't grow. Obama was very clear in Denver

At least not much. In fact, it might even shrink before he leaves office.

Obama was very clar that the things that need to be done are all paid for by cuts in unnecessary programs and eliminating the bush tax cut for the ultra wealthy

[KharmaTrain]

20. Defecits That Remain Defecits Vs. Generate Revenue

As always, the corporate media goes to tried and true labels that have little relevance to what's going on...other than to have the talking heads toss around words and ideas that make little sense or have any connection to the situation at hand.

The major problem right now is people, especially the banks and the rich, hording money. Many have buried their money in mattresses and we're in the midst of a major cash crunch. Without easing of lending and more money in the system, business will either cut back or close doors, tax bases will be completely destroyed and millions will remain unemployed or under employed.

Money that goes into the economy to create jobs ends up back in the money supply...and the more money out there, the sooner the economy will start to rebound, more people will have money to spend and new markets and jobs will rise. It's money spent now that, if planned properly, will pay for itself many times over.

[madokie]

21. I didn't vote

The most important thing we need to do is get the jobs up and running first. Infastructure is a good first step too. So in the short term we will have to spend some more money but in the end the taxes from that will pay for it. imo

[AlinPA]

22. He did not say that he didn't care how much the deficit grew.

[ProfessorGAC]

24. He's Completely Correct

There are elements are Keynesian economics that are very sound and very efffective. This is the most critical one.

A deep recession would cause revenue declines, inflation (therefore raising expenses) which result in deficits anyway.

So, the goal is to find a way to use those deficit funds in a the most direct way possible to revive the economy.

Keynsian elements work as long as the deficit spending is done for a specific purpose in times of emergency. The trick, of course, is defining "emergency". In this case, the struggling economy seems an appropriate one. Iraq, for instance, failed to meet any reasonable definition.

So, i think his idea is fine in the short term, and since he's using the 2 year horizon, that seems short term to me.
The Professor

[TexasObserver]

25. Obama knows basic Keynesian economics. You should learn it.

When the economy is in the tank, the federal government must deficit spend with abandon, because it is the employer of last resort.

You misrepresented what Obama said. That was dishonest, and cheap.

[hisownpetard]

26. Just dumb.

[Orsino]

27. Ridiculous oversimplification.

First, he didn't say he didn't care. Second, the economy is a moving target, and the situation two years from now will have to be addressed using data from two years from now.

The deficit will continue to grow; you can't just do an about-face on the disastrous path the neocons chose for us. * policy is so bad that we're going to have to spend even more money we don't have to set us on a more sustainable path. I won't be worrying much about the deficit, either, if I can't find food and water.

And I won't be worrying about right-wing talking points inserted into push-polls.

[rcrush]

28. Flamebait Poll

Retarded flamebait poll.

[OPERATIONMINDCRIME]

29. Are You A Nader Lover Or Something?

What a ridiculous poll.