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Senator Bernie Sanders' assessment of the deficit... (Original Post) Playinghardball Sep 2012 OP
K & R for truth... Wounded Bear Sep 2012 #1
Yay Bernie!! I wish that there were 99 more like you in the Senate. byeya Sep 2012 #2
lov ya Bernie lovuian Sep 2012 #3
He is always so clear and concise about the issues. I wish we had hundreds of him in sabrina 1 Sep 2012 #4
 

byeya

(2,842 posts)
2. Yay Bernie!! I wish that there were 99 more like you in the Senate.
Sat Sep 22, 2012, 02:19 PM
Sep 2012

As austerity tightens its grip, debt, as a percentage of GDP, will go up because the GDP will go down with fewer people working and those that are working receive less pay either through working fewer hours or having their pay cut.
The debt will remain the size it is, or grow a little, but with a shrinking GDP, its percentage will rise and those who control the political economy - who are making out like the bandits they are - will call for more and more austerity.
The USA needs a policy of encouraging 5% annual growth and tolerating a higher rate of inflation.

Otherwise, we face a deflationary debt trap which is far worse then higher inflation.

sabrina 1

(62,325 posts)
4. He is always so clear and concise about the issues. I wish we had hundreds of him in
Sat Sep 22, 2012, 03:24 PM
Sep 2012

Congress. This would be a completely different country and a far, far better one.

Latest Discussions»General Discussion»Senator Bernie Sanders' a...