William K. Black writes…..
Romney Messes Up, Tells the Truth About Austerity
Romney states that we can’t simply stop “cold turkey” paying people to do nothing. Romney notes……
……if you take a trillion dollars for instance, out of the first year of the federal budget, that would shrink GDP over 5%. That is by definition throwing us into recession or depression. So I’m not going to do that, of course.
Which, anyone with a synapse knows. More than that, no one ever proposed such a draconian measure. But, let’s not let that get in the way of the narrative. Yes, Repubs will push Granny off the cliff. Idiots.
I’ll let Dems in on a little secret which 99% of the Repubs know. If you ensure that the federal spending doesn’t rise faster than federal revenues, (economy) then, eventually we’d have a balanced budget. We’d even have a surplus which would serve to decrease our debt payments.
No Republican, including Romney, would simply dissolve one trillion dollars from our economy. Leftards have obligated so much towards entitlements, it isn’t possible to get all that need off the teat, all at once.
The answers are easy, the execution of the answers….. not so much. But, they have to be done.