"Supply-side" economics has ruined America so far

[SHRED]

All the tax and trade laws favoring the wealthy have done nothing but wreck havoc on this country.

I think that distills it pretty well...along with the unquenchable hunger of the MIC for our tax dollars.


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[byeya]

1. The whole phenomenon of supply side economics shows how far from a science economics really

is. To the extent supply side ec. is a coherent theory, that theory has been a miserable failure. Yet, as money changes hands usually, an economist of a certain stripe will write you a dandy paper or book extolling the theory's virtues even after all these decades.

[jody]

2. Perhaps but deficit spending only increases interest as a percent of our budget & no macro economist

from Keynesian or Austrian persuasion has a clue how federal fiscal or monetary policy can stimulate our economy.

[byeya]

3. USA deficits are down approx 25% (as a % of GDP)since 2009, a faster rate than after WW2.

This added to the near zero rates treasury bonds means servicing what remains of the debt is not high.

The "debt problem" is a fantasy of RWers and can be fixed with reform of health care(not reform of health insurance); ending the wars; cutting the military down to size; and taking steps to keep growth going.

[reteachinwi]

4. Debt

is created by banks. What have we made more of since 1980? Who has this benefitted? Policy matters.