Monday, September 24, 2012

Scott Mayerowitz — Federal Deficit Should Be Reduced With Spending Cuts, Tax Hikes, Economists Say

The best way to reduce the federal deficit is through a combination of higher taxes and spending cuts, according to a group of economists.
The 236 members of the National Association for Business Economics recently surveyed say the country needs more fiscal stimulus through 2013, but by 2014 it should be time to throttle back. The reason for the delay: the sluggish nature of the country's economic recovery.
The Huffington Post
Federal Deficit Should Be Reduced With Spending Cuts, Tax Hikes, Economists Say
Scott Mayerowitz

With "experts" like this, the country will do as well as medieval patients with blood-letting.

2 comments:

Mike Norman said...

It's really disheartening to see that there has been absolutely no progress when it comes to understanding sovereign debt and government deficits. If anything the belief about having to "get our fiscal house in order" has become even more entrenched.

John Zelnicker said...

It seems that 87 per cent of these economists still believe in the confidence fairy. As a small business owner, I can't help but wonder what part of aggregate demand these "business economists" don't understand. This has gone beyond sad and is rapidly approaching grievous.

Maybe "Lori Franko" is right and we are "FREAKING DOOMED".