You cannot budget cut your way out of a recession. Austerity doesn't work. It will lead to a longer and deeper recession.
It's not that the budget doesn't need to get under control. It does. It just isn't helpful in assisting with immediate economic recovery.
So Congress, in it's infinite stupidity, created a series of sequestered cuts that will take place unless it acts otherwise to bring the budget under control. They stuck a big fat gun to their head and threatened to blow themselves and the country up if "future Congress" didn't do something. This is a true lunatic Blazing Saddles moment.
This slash and burn approach that will kick in by Friday will hurt everyone in the country. It will cause havoc with our service and accelerate job loss. It will weaken our defense (not that I'm not in favor of major defense cuts - just willy-nilly across the board cuts are wicked stupid). It will start the reversal of the slow progress toward recovery we have made so far.
And my conservative friends, make no mistake about this. The American people are not fooled this time. They will place the blame strictly where it lays this time - the Tea Party led Republican Congress. A party that is becoming increasingly unpopular will become even more so,
As unpleasant as it may be to accept, the only way out of a recession is government spending. In the short term, money needs to be placed in the hands of those who will spend it. Food stamps, unemployment checks, tax cuts targeted to the middle class and poor - these are essential. In the long term we need improvements to infrastructure, research and education spending. If anyone has a fantasy that there is any other way to do it, it is just that - a fantasy.
I am so sorry that President Obama's predecessor squandered a budget surplus on unfunded wars, unwarranted tax cuts to the wealthy, giveaways to the drug industry like Medicare Part D, and much more. I am sorry that President Bush Jr.'s economic policies led this nation to financial ruin. But now is the time to straighten out this mess, aggressively bring a bout a more vibrant recovery and get the country focused on the future once again. The road to that shining city on the hill isn't paved with dirt and gravel because the Tea Party reactionaries were too cheap to provide a modern highway.
Let's quit moping and move this country into the 21st century! Time to be leaders!
Yeah, right! They are still right, even when they are wrong. We will see no change in our government until 2016....when a woman finally takes the reins!
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