VIDEO-- Paul Krugman reacts to sequester madness: "This is not the time to be cutting at all." Oh, and spending has FALLEN.


chart graph government spending down under obama

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Ed Schultz:

"Government spending actually fell rapidly after the stimulus ended."

"The last time we saw spending cuts this deep was after the Korean War."

"Progressives, they don't want chained CPI. There's no indication it would ever help the economy." (Here’s what “chained CPI” would do.)

chart deficit cuts not taxes

Paul Krugman:

"These are especially dumb cuts."

"Austerity hurts even more than the standard estimates say."

"...We are demonstrating that we can't govern ourselves..."

"This was designed to be stupid."

"This is exactly what the doctor did not order."

"The fix-it is just repeal the whole thing. We shouldn't be doing any of this."

"This is not the time to be cutting at all."

"The budget deficit is an issue for the next decade, it's not an issue for now."

"We have capital with no place to go... The government should be taking advantage of that ... to be fixing stuff."

"It's insane, top to bottom."

"Not that [deficits] never matter, but they really don't matter right now."

"The budget deficit is a result of the crisis, not the cause of it."

"The main thing right now is... mass unemployment. Create jobs... Get those school teachers rehired. Fix those bridges."

  •  Rock, I've asked you to please keep your comments a little shorter. Please read our guidelines. Next time I'll have to edit them down. Thanks!

  • Someone tell me how subversion and sedition and tyranny can exist in a Democracy and no one is investigated or questioned. Obstruction during a severe economic crisis is criminal. To risk the economy over and over for the sake of partisan politics only, should be punishable by being Tarred and Feathered. All this was done deliberately, with full knowledge of the consequences, because the GOP thinks Americans are blind, dumb and can't figure things out for themselves. They planned to tank this president's agenda from the first day, even when the bills were something they were previously for, just to try to blame him for the slow recovery and win the White House. They are no better than Benedict Arnold as selling out your Country, when your Mantra in the 2008 campaign was "Country First" is unconscionable. Not once have they placed their Country First and voted on a bill they knew would help the recovery so as to deny PBO any traction. Over 300 Filibusters to deny any vote on jobs, equal pay, the Dream Act and many others. They even Filibustered a cabinet post, and Mitch McConnell ineptly Filibustered himself on the floor of Congress. They are a leaderless bunch of contrary children hell bent on obstructing this Democracy despite the polls showing that the will of the people is behind the president. They want to push us toward Austerity and double dip recession because they have no positive things to offer the people of this Nation and only want to stand on the sidelines and snipe at the president. See Boehner make speeches about the Senate getting off it's ass when his caucus has not passed one jobs bill that won't hammer the working class and give more tax breaks to his rich donors and his caucus was responsible for the Sequester when he walked away from the Grand Bargain of 75% Cuts for 25% revenue. This party will protect the rich at all costs.  It's the job of the Congress to write the legislation, not the president or the Senate. He wants cuts but won't name them, claims O wants to raise taxes when all he wants is to eliminate corporate welfare (40% of American Corps pay NO taxes), Oil Subsidies, Farm Subsidies, Carried Interest (which allows Romney to pay only 13% on his 20 million in income while we pay 20- to 30%) on income we sweat for, Off Shoring of one's assets to avoid taxes. These are reforms which make sense, will not really hurt the extremely rich and add much needed revenue to the treasury to promote job growth and not shrink it like more cuts will certainly do.
    They're a bunch of phonies who will lie at the drop of the hat and are trying to rig the next election as we speak. In my opinion this is not a political party, It's a group of ideologs who are trying to usurp this Democracy. They warn about Sharia Law, but pass laws which are meant to control women, gays, people of color and basically keep everyone down and desperate. The Taliban is here in America. Just examine the laws they are ramming through the states they control. Anti Women, Anti Gay, Anti Immigrant, Anti Union, Anti Worker (Right to Work For Less), work part time with no  benefits or health ins, blocked the Jobs for Returning Veterans Bill, The Dream Act, Equal Pay for Women Act, only passed the Senate version of VAWA due to immense pressure from us, their bill pissed on women's rights.

  • cognachas4paws

    There is a lot Congress could do to help the economy but they are not interested in that.  They could not make President Obama a one-term president, so now they are going to make sure the economy tanks and tarnishes any legacy he might have upon leaving office.  It appears to me that the GOP no longer cares to do its job; they talk about leadership a lot but they have no idea what it actually means.