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In reply to the discussion: Here's a soft lie that must be debunked before it gets off the ground! [View all]TrollBuster9090
(5,954 posts)Either through one or a combination of the methods on your list, OR another option.
My point was that the money we borrowed from our Senior Citizens' pension fund shouldn't be treated any differently than any of the money we borrowed from any other source. So, whatever method you or anybody else proposes to pay off the 14 trillion we owe to regular bond holders should ALSO apply to the 2 trillion we owe to the Social Security Trust Fund.
But if you're asking for my personal opinion, i'd say:
50% from your OPTION 1 (asking the wealthy to pay more)
10% from your OPTION 3 (inflating the currency, which is not always a bad thing, depending how it's done. We are in ABSOLUTELY NO DANGER of hyperinflation, so please don't give credence to any right-wing talking points about Weimar Republican Germany or Zimbabwe.)
and
40% through encouraging economic growth by a) re-writing the tax code eliminating loopholes and outsourcing incentives, and encouraging small business expansion, b) government funded energy development, particularly geothermal...leading eventually to a new 'cheap energy' economic boom, and c) re-organizing government involvement in the economy to favor policies with the highest multiplier effect. ie-TAX CUTS have a very low multiplier effect, while govt. programs like FOOD STAMPS actually have a VERY HIGH multiplier effect. But the political rhetoric is backwards, where politicians get the most bang for their buck by pushing for tax cuts over food stamps; when in fact economic growth policy prescribes exactly the reverse. We need a concerted effort to promote REAL ECONOMICS in our political rhetoric. If that means promoting the idea of putting more REAL ECONOMISTS on TeeVee as 'pundits,' so be it.
Did you seen MEDIA MATTERS' piece on this? The networks have spent MONTHS blathering about 'The Economy' without asking ONE SINGLE F-ING ECONOMIST for their opinion! If we could somehow encourage a REAL debate/discussion on REAL economics, rather than this fake, political economics, we definitely wouldn't be in the mess we're in right now. Because every REAL economist knows that AUSTERITY is exactly the OPPOSITE of what we need to do to dig the economy out of its current rut.
http://mediamatters.org/blog/2012/12/13/economists-and-economics-absent-from-media-cove/191837