Debt limit big lie: "The federal gub'mint can just cut back spending like a normal family"

LuckyTheDog

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Mon Jul-11-11 06:13 AM
Original message

Debt limit big lie: "The federal gub'mint can just cut back spending like a normal family"

Nope. A "normal family" does not have troops in the field, does not pay Social Security benefits, does not handle food inspections for 300+ million people, etc.

Anyone who thinks the government can swiftly cut 40% of its budget without tanking the U.S. economy is nuts. The bond market would see any severe austerity plan as a default by another name. Interest cost to the feds would soar.

Within weeks, we'd have civil unrest. After a few months, we'd be in an existential crisis.

The scary thing is... I think that's what the right-wing wants.

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XanaDUer

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Mon Jul-11-11 06:15 AM
Response to Original message

1. Yes, this is a simpleton's response

usually right-wing, 'cause it sounds all common sensical and all...

We're running a country here, not a nuclear family. I hate when I hear people say that.

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LuvNewcastle

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Mon Jul-11-11 06:49 AM
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2. That's right up there with "we need to run the government

like a business. That guy's been a CEO for 20 years -- let's vote for him!":banghead:

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HereSince1628

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Mon Jul-11-11 07:10 AM
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3. Most families in financial crisis seek additional income

For the federal government the equivalent would be seeking additional revenue through surtaxes, ending tax holidays, etc.

Instead what the federal gov't has cooked up the seed corn and fed it to the finance corporations. Now it's time to take that old Tiffany lamp to the pawn broker and kick Grandma and Uncle Joe out of the house so that there are fewer mouths to feed.

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democrat_patriot

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Mon Jul-11-11 07:47 AM
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4. A normal family with a Republican induced Trillion dollar deficit.

Yep.

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starroute

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Mon Jul-11-11 09:25 AM
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5. And how many normal families could cut their spending 40%?

I'll grant that people making over $100,000 a year have a certain amount of discretionary income. But a family living on $50,000 or less is already close to the bone -- and cutting out that occasional pizza or movie night isn't going to save them more than a few hundred dollars a year.

Even before the recent economic dislocations there were articles like this one from 2005 -- http://www.rtoonline.com/content/Article/Jan05/DiscretionaryIncome011005.asp -- saying that "Average discretionary income for households with earnings of less than $50,000 is $2,075."

So just who is this belt-tightening metaphor aimed at, anyway?

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WatsonT

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Mon Jul-11-11 09:45 AM
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6. We can't cut back the number of troops we have deployed?

Edited on Mon Jul-11-11 09:45 AM by WatsonT

Or the number we have in general?

There are things we cannot cut certainly.

But that doesn't mean we can't reduce spending anywhere.

Recently we cut about a billion in military aid to pakistan.

I'm ok with that decision and the economy hasn't collapsed.

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