and tools who say there is a Deficit Crisis. There is no Deficit
Crisis, and there is no Social Security Crisis either. So the Catfood
Commission, aka the Deficit Commission, should never have been
established to give these Reagan-era crooks a megaphone. Unless the
idea was to show how foolish and corrupt they are.
If there is a Deficit problem right now, it is that the Deficit is not
large enough to get 25 million americans out of unemployment and
underemployment. But the political will has not been shown to fix
unempolyment through properly envisioned (building a sustainable
society with green jobs) and adequately funded deficit spending
instead of marginally effective (and probably not cost effective,
says Joe Stiglitz) quantitative easing.
Now it is true there may be a long term problem with the US Deficit.
According to centrist economist Brad DeLong, it has 98% to do with
increasing medical costs. The best way to get these costs under
control is through better healthcare reform, such as single payer.
But the so-called Deficit Commission is simply waving a magic wand on
medical costs, instead focusing on huge tax cuts for the wealthy,
their largest proposal. How is that supposed to improve the deficit?
That is their largest proposal, and it also happens to be at the top
of their list of goals. Actually doing anything about the deficit is
actually at the bottom of their stated list of goals.
Leading economist Paul Krugman says there is tax cuts for the wealthy
do nothing good for the general economy, and this has proven true time
OK, the deficit commision also recommends tax increases for the poor,
which would further depress the economy, and further add the the
explosion of inequality in the US which mostly began with Reaganomics.
So it appears that's what the real agenda is. To increase poverty and
eliminate the already decimated middle class. So banksters
like Pete Peterson can make even more money while everyone else sinks into