Friday, November 09, 2012

My Reason To Drive Off The Roof

I mean, to fall off the fiscal cliff.

Bad Advice From Paul Krugman

A great thing would be the unwise Bush tax cuts that should never have been implemented - I am for tax cuts that are paid for, not tax cuts that are paid for with money borrowed from the Chinese - would go away without the Republicans having to agree to the idea. They get to tell their base, we did not do it, the whole thing fell off the cliff, don't blame us.

A major cut in defense spending is long overdue. American leaders need to be more proactive about spreading democracy globally and about bringing forth rule of law between nations. Those steps allow America to bring down its defense spending by a large margin. Bring it down to $1 from $4. But cutting defense spending is politically unpopular. So letting some of it fall off the cliff might be smart politics. Look we tried, the thing fell off the cliff.

It is hard for Democrats to even think in terms of restructuring the entitlement programs. But some restructuring is necessary. The cliff can help you do that. It can be a huge political help.

Go over the cliff. Then close a trillion dollars in loopholes. Then bring about a second stimulus. I say a trillion dollars. Spend half of it to bring forth gigabit wireless broadband to every human being on the planet. Let there be light.

If you go over the cliff and don't bring a second stimulus, you are staring at a recession. But the stimulus is a one time thing. All the savings from going over the cliff help bring down the deficit and the debt in the subsequent years.
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