"Right-wing nutters in the US threaten world economy."

He's correct in a general sense but his way of preventing it is stupid because it is just keeps government money recycling back into the system instead of enabling new money to be created by the system.
 
He's 100% in a simple and literal sense -- government spending is a component of GDP. What he's saying is one of the most accepted facts of economics.

There are a nuraber of factors that also factor into the entitlement debate, but in a literal sense he's right. But it's not a reason to keep the status quo on entitlement spending.

The biggest divide in this debate is that Republicans are attempting to prevent an increase in the debt ceiling out of some strange way to have a debate on spending, this is a different issue than the debt ceiling debate.
 
Indeed, and Republicans don't really seem to have much basis for trying it.


Reaching the debt ceiling is a formality resulting from past Congressional spending decisions that even the Republicans have been a large part of approving. It seems pretty idiotic for Congress to approve spending, but then deny the executive the ability to do so.
 
yes Virginia, credentials do count a little.

because to get those credentials, you have to do a lot of reading.

its one thing to offer a point by point analysis rebuttal, but its another to make a snotty remark without really addressing the topic.

"gee, hes a British economist....what insight could he possibly have about American Government"?
 
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