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40. Most of Items He Cites Do Not Really Amount to an Austerity Program

Sat Jan 5, 2013, 05:43 PM

Jan 2013

This includes the expiration of the payroll tax cut, which will raise about $125 billion this year. It includes $50 billion in scheduled cuts to discretionary spending from the caps in the 2011 Budget Control Act, as well as $24 billion in new Obamacare taxes and $27 billion in new high-income taxes. It also includes about $78 billion from the now-delayed sequester cuts — assuming that these either take effect or are swapped with other cuts.

Allowing the payroll tax cut to expire and implementing Obamacare are longer-term measures that have to be implemented at some point.

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U.S. now on pace for European levels of austerity in 2013 [View all] HiPointDem Jan 2013 OP

K&R We People Jan 2013 #1

Ironic how teabaggers ridicule Europe for its economic problems but rejoice at austerity measures gtar100 Jan 2013 #2

The area we need heavy cuts is defense davidpdx Jan 2013 #3

Austerity would be fine tama Jan 2013 #4

Austerity on Defense means employment cuts. Downwinder Jan 2013 #6

There is lot of unnecessary, harmful and insane employment tama Jan 2013 #7

How many useless jobs are there? We are already at least at 7-8% unemployment TheKentuckian Jan 2013 #14

Well tama Jan 2013 #19

I can dig that but the dynamic must be changed first otherwise it is just cold hearted mass murder TheKentuckian Jan 2013 #42

What we are living in tama Jan 2013 #46

Our Defense Budget Has To Be Slashed 1ProudAtheist Jan 2013 #10

Hell, we'd go a long way just to get rid of the waste and fraud. GoCubsGo Jan 2013 #12

2006 (Last available) Total Defense Employment 144,646,000 Downwinder Jan 2013 #13

All tama Jan 2013 #20

None. Downwinder Jan 2013 #23

You work for MIC? tama Jan 2013 #24

Nope. What manufacturing is left in this country that is not Downwinder Jan 2013 #26

There is lot to do tama Jan 2013 #27

Austerity did not work before Downwinder Jan 2013 #28

Good example of "less is more" tama Jan 2013 #29

CCC and WPA did not really produce anything necessary. Downwinder Jan 2013 #30

It has contributed to some technological innovations. tama Jan 2013 #32

Yes, it may mean employment cuts davidpdx Jan 2013 #49

Well then, expect another dip into depression, I mean recession fasttense Jan 2013 #5

It's not America's wealth tama Jan 2013 #8

Oh no, Capitalism hasnt even started to REALLY feed on us yet. But your right we are on that path Katashi_itto Jan 2013 #9

Sheer stupidity newfie11 Jan 2013 #11

"This is pure greed until we all go down" . . . or, all rise up. leveymg Jan 2013 #15

Yeah I guess we will see newfie11 Jan 2013 #38

I bet as a population we don't resist it like the Europeans... Earth_First Jan 2013 #16

Explains why the government spent so much time infiltrating Occupy. mmonk Jan 2013 #17

+1 Earth_First Jan 2013 #21

Can't afford to have the disadvantaged get together Downwinder Jan 2013 #22

Imposing a "new normal" can be tricky woo me with science Jan 2013 #36

du rec. nt xchrom Jan 2013 #18

What we need to fix is the $500 billion / year trade deficit. FarCenter Jan 2013 #25

Don't shop at WalMart. Buy Made in USA & local. Generate your own heat/electric. leveymg Jan 2013 #39

It's more than WalMart FarCenter Jan 2013 #45

Unfortunately, one doesn't follow the other in and of itself leveymg Jan 2013 #48

Oh well as a positive coming out of suffering..... socialist_n_TN Jan 2013 #31

"austerity" is the socialization of the thefts and mistakes of the rich. How can he not know it's Fire Walk With Me Jan 2013 #33

+ All the Money Went Octafish Jan 2013 #34

Thanks for the link! n/t Fire Walk With Me Jan 2013 #37

You are most welcome, Fire Walk With Me! Octafish Jan 2013 #43

But...but....we have a *Democratic* President, woo me with science Jan 2013 #35

Most of Items He Cites Do Not Really Amount to an Austerity Program On the Road Jan 2013 #40

The point isn't who individual items affect; the point is the cuts to spending/deficits slow the HiPointDem Jan 2013 #41

Austerity = depression roamer65 Jan 2013 #44

Bingo. Starry Messenger Jan 2013 #47