tag:blogger.com,1999:blog-8817171247555815363.post8892873889530753583..comments2024-03-26T05:57:44.937+00:00Comments on True Economics: 12/5/2013: Much austerity? Not really... & not of the kind we neededTrueEconomicshttp://www.blogger.com/profile/07350536454228478974noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-8817171247555815363.post-90377838276277394942013-05-13T22:16:58.722+01:002013-05-13T22:16:58.722+01:00Big gap in reading skills, I presume. Read the lin...Big gap in reading skills, I presume. Read the link at the top of the post on what happened with tax revenues.TrueEconomicshttps://www.blogger.com/profile/07350536454228478974noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-30138531192299239522013-05-13T21:06:27.519+01:002013-05-13T21:06:27.519+01:00Big gap in this analysis: Since tax revenues plumm...Big gap in this analysis: Since tax revenues plummet in a deep recession like the one we just experienced, deficits naturally increase proportionally. So of course deficits increased; only a massive increase in taxation or a massive decrease in government spending would have avoided higher deficits. Even a slight reduction in government spending would still result in larger deficits. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-37655055388569141842013-05-12T17:39:33.817+01:002013-05-12T17:39:33.817+01:00Michael, I have no idea what in my post prompted t...Michael, I have no idea what in my post prompted the first half your comment, but I agree with the second bit.TrueEconomicshttps://www.blogger.com/profile/07350536454228478974noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-50619578869429879832013-05-12T17:36:15.764+01:002013-05-12T17:36:15.764+01:00There are some things the private sector does well...There are some things the private sector does well - cleaning up after its own mess is not one of them. Neither is self-regulation to the required standard - or, in the Banks' case, to ANY standard. Suggesting the government should step back and let them at it is not acceptable.<br /><br />However I totally agree that the endless government overspend on its own administration has to be stopped and targeted stimulus applied - from the bottom up, because Trickle Down Orthodoxy is a LIE pure and simple.Michael O'Neillhttp://oneillquigley.eunoreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-82888144094215318252013-05-12T11:10:30.216+01:002013-05-12T11:10:30.216+01:00My feeling is that the general austerity vs growth...My feeling is that the general austerity vs growth debate is totally misplaced. So far we had austerity for the private sector (firms and individuals) through higher taxes and welfare cuts, whereas the state sectors and supra European institutions keep on enjoying their spending and inefficient management practices, thus crowding out private enterprise. Austerity should simply shift to the public sector parasites, resulting in less state. If anything, the state sector should just focus on providing the framework and platform for private sector investment.Ioannis1959https://www.blogger.com/profile/02227241335279221988noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-7549755066656265242013-05-12T11:09:12.319+01:002013-05-12T11:09:12.319+01:00My feeling is that the general austerity vs growth...My feeling is that the general austerity vs growth debate is totally misplaced. So far we had austerity for the private sector (firms and individuals) through higher taxes and welfare cuts, whereas the state sectors and supra European institutions keep on enjoying their spending and inefficient management practices, thus crowding out private enterprise. Austerity should simply shift to the public sector parasites, resulting in less state. If anything, the state sector should just focus on providing the protective framework and platform for private sector investment. Ioannis1959https://www.blogger.com/profile/02227241335279221988noreply@blogger.com