I don’t agree with Robert Reich’s premise, or his conclusions, but he makes his Point the Hard Way. Robert still support the idea that Government Spending can cancel Recessionary conditions; refusing to accept any stigma of ‘Crowding Out’. The greatest threat to Small Business must be Government Spending usurping their traditional Product niche. Government Spending could alter the construct of the Recession, but only if it is spent with distribution to attack low Production ratios; Government Spending directed to enhance already existent Profits only introduces monopoly pricing to areas previously free of such distress, potentially where artificial pricing could not be accomplished by any other method. We first must determine if We want to favor any segment of the economy over another, before We can determine How best to achieve this End if desired.
I will contest Robert’s contention that Deficit and Debt numbers do not matter, except in comparison to gross aggregate GDP numbers. It is the small little numbers which I would like to know, like if national debt repayment was set at $.10/Hour worked, how many Work hours would be required to pay for the Debt. Then I would like to know How many Workweeks would be required to pay for the Debt, based upon a basic standard 40-hr. Week. Just to show Robert that I am not some fanatical fiscal Conservative with only one approach to the Problem, I would also ask How many Dollars of Profits would have to be taxed if a Debt repayment tax of $.04 was assessed against every Dollar of Profit. I would also ask the length of Time necessary to pay off the National Debt, based upon the this simulation plus the known levels of Profits from the economy at this time. These are the type of Statistic which I can chew on (Some say I should stick to my Cud), while I have a real dislike of Progressive desire for new Government programs.
All I know about the Debt really is that Interest on the Debt Service has been going up as the amounts grow, and We will have to pay a Premium already massive in terms of Government largesse, but validly below What private Debtors have to pay. The old pressure points lose impact with all Debtors, and Lenders wish for the good ole Days when they could actually clear their books with debts paid. What I fear the worst is not Rants against the Debt, but Thought that the Debt can grow twice as fast as Wages in this Country. I want a better World, and have wanted a Better World ever since I was a Child. Now, I only want a different one; sometime soon, I may be paying a premium simply to get off this Planet. lgl