Re:Paul Krugman: The austerity delusion
by ebbv on Wednesday April 29, 2015 @01:55PM
(#9460244)
> Most of the world has been following the recommendations of this “economist” for decades.
He's a Nobel Prize winner. You putting economist in quotes only reflects poorly on yourself.
> Just because it’s a government instead of a household or a business does not making borrowing against your future when you have no capability to pay it back a good idea.
He's not advising borrowing money you can't pay back. US, UK and other major economies absolutely can pay back the money they borrow. It's a ridiculous scare tactic that the far right has been pushing for the past 20 years to say that we are so far in debt we can never pay it back. That premise is only true if you adopt the ridiculous far right policy of lowering taxes to basically nothing on large corporations and ultra wealthy individuals.
He's a Nobel Prize winner. You putting economist in quotes only reflects poorly on yourself.
> Just because it’s a government instead of a household or a business does not making borrowing against your future when you have no capability to pay it back a good idea.
He's not advising borrowing money you can't pay back. US, UK and other major economies absolutely can pay back the money they borrow. It's a ridiculous scare tactic that the far right has been pushing for the past 20 years to say that we are so far in debt we can never pay it back. That premise is only true if you adopt the ridiculous far right policy of lowering taxes to basically nothing on large corporations and ultra wealthy individuals.