Slogan: REPEAL the budget deal!

[LuckyTheDog]

The economy needs stimulus, not austerity.

Screw the credit rating. A lowered rating could shave 50 basis points off GDP. Austerity could shave off more than 100.

A massive infrastructure binge, on the other hand, could ADD more to the GDP than we would lose from a downgrade.

:banghead:

[brooklynite]

1. Just as pointless as "REPEAL Obamacare"...

Every minute spent on this is a minute not spent on a more productive policy initiative (protecting entitlements in the Super Committee, pressuring Congress to let the Bush tax cuts lapse, etc.)

[Davis_X_Machina]

2. Thank God there's no Congress or anything.

If there were, that would be very difficult to pull off.

As it is, though, repeal's a snap.

[LuckyTheDog]

3. The game has changed

The market meltdown of the past few days changes the rules.

[ProdigalJunkMail]

4. you drop the credit rating and interest rates rise...

talk about killing the economy...and HAMMERING the purchase of new debt for the gov't.

not a good idea if we can avoid it (which i don't think we can).

sP

[LuckyTheDog]

6. Japan got through it

So, interest rates go up a bit -- from historically low levels. But fuller employment would lift the ecomomy, including the housing market. That'd be true even if mortgage rates went up to 7%.

[ProdigalJunkMail]

7. i am talking to interest on personal debt

i am talking about gov't debt. you add a full point to the percentage rate paid on the USA debt you end up talking about hundreds of billions of dollars...which only exacerbates the existing debt problems...

sP

[LuckyTheDog]

8. BUT...

... fuller employment and some special attention to the housing market could overwhelm those effects.

[ProdigalJunkMail]

9. i agree with that sentiment but as of late (meaning the last 30 years or so)

our gov't seems to be inept at the fixing part. throwing $$$ to all the wrong people!

sP

[The Wielding Truth]

5. Wait debt has been raised. Now restructure and reinvest in the bones of the country.