CNNMoney: Ignore Debt for Present, More Gov't Spending Needed to Boost Economy
While the prevailing argument on Capitol Hill right now is not whether to cut federal spending but rather what programs to cut, CNNMoney is fretting over the very concept of spending cuts. You read that right, while both political parties hash out spending cuts to chip away at the growing deficit, CNN is arguing for more government spending to stimulate the economy. Apparently, President Obama's economic policies weren't carried far enough.
"If the debt ceiling goes up, government spending is most likely going down. And with the economy grinding to a halt, the timing couldn't be worse," CNNMoney's Charles Riley begins his column.
Riley argues that the mainstream economic analysis points to the need for further spending to jumpstart a flagging U.S. economy. He then quotes Chad Stone from the liberal Center on Budget and Policy Priorities, who argues for "additional monetary and fiscal stimulus" to aid the current economy.
Riley closes out his piece quoting none other than President Obama, defending "federal support for states" of his stimulus bill.
To read the entire piece, click here.
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Comments
GDI should be considered not
Submitted by rbosque on Mon, 08/01/2011 - 6:59pm.
GDI should be considered not how much we spend (circular flow). Revenues will increase when we stop spending for unnecessary things and decrease taxes. Decreased taxes will mean more money that private companies can use to invest in employment and additional capital (K) for expansions. These a******s on the left need an economics leason and stop being sock puppets for this Marxist regime.
Congress voted and we know
Submitted by jkwtrading on Mon, 08/01/2011 - 7:09pm.
Congress voted and we know who the enemy is.
I watched it on C span and kept remembering the song "send in the clowns"
Anyone have a link to the "yeas" and "nays"?
Submitted by Blonde on Mon, 08/01/2011 - 9:12pm.
I'd appreciate that.
Nice to see Gabby Giffords, though. She looked pretty good.
Handy Reference Guide to Obama's Gaffes and Goofs ~ Currently Numbering 200 (and Counting)
J, I have the vote tally
Submitted by Dave. on Mon, 08/01/2011 - 9:19pm.
Here.
-Dave
Vote for the American in November
Here Blonde*
Submitted by cajun2 on Mon, 08/01/2011 - 9:43pm.
oops wrong one...
The post has the votes on all three bills
If things don't change by the
Submitted by Slyrr on Mon, 08/01/2011 - 7:38pm.
If things don't change by the 2012 elections, then the 'mobs and pitchforks' that Obama used to threaten the nation's banks into signing his failed 'TARP' bill are going to be headed straight for Congress, and for his office too. The word 'unsustainable' has been tossed around a lot lately, and with good reason.
The people can only take so much of having only 500-odd people in a capitol building urinating in their faces and telling them it's spring water.
Did you skip his middle name....?
Submitted by NeoKong on Mon, 08/01/2011 - 7:42pm.
Nelson.
Charles Riley has to be a bit Deranged
Submitted by Comrade Jim on Mon, 08/01/2011 - 7:52pm.
To make a statement like
"If the debt ceiling goes up, government spending is most likely going down."
Congress has raised the debt ceiling some 89 times and increased spending has followed. But now it will be different under President What-Me-Worry.
Also, who in the world would quote anybody from The Center on Budget and Policy Priorities on the question of how to revive the economy. CBPP doesn't give a damn about the economy; they are all about growing government and shrinking citizens.
CNN's Indictment
Submitted by Motormouth KOS on Mon, 08/01/2011 - 8:13pm.
Who cares what comes out of this 3rd world cable network? They have lower standing than a cable access show.
Ted Turner is a delirious limousine liberal, who has taken the original counterpoint to the lamestream media and turned it into MSNBC Lite.
Hey, let's hire some criminals.
Elliot Spritzer, AKA Client 9.
ChristiAndy Amanpour, AKA Keith Richard's twin brother
Farfetched Zakaria, AKA Lost Camel Jockey.
The only think missing on these morons are the red foam noses and the floppy clown shows.
The Obamination... A crisis leading to a catastrophe..(please donate to MRC)
CNN
Submitted by NotFondOfLibs on Tue, 08/02/2011 - 11:22am.
Well said. The question should be posed to anyone at CNN: Do you have any programs on which you don't criticize or bash Republicans and TEA Party members? They, of course will deny the accusation, stating that they are as "fair and balanced" as Fox News. CNN has lost their claim to be "the most trusted name in news" or whatever it is the claim to be.
Er, what is the definition if insanity again?
Submitted by Dave. on Mon, 08/01/2011 - 8:20pm.
And what makes these stoopid f'ing people think there will somehow be a different result this time around?
-Dave
Vote for the American in November
The 3 Stooges
Submitted by Slyrr on Mon, 08/01/2011 - 8:27pm.
This whole sorry spectacle reminds me of a 3 stooges episode where a sign read,
"Just Give Us Your Money, And We'll Give You The Business".
That about sums it up. Obama is getting 3 TRILLION more in money handed over straight into his pocket to spend on his union thugs, and he gets it instantly, with no oversight, and no strings attached. And what do we, the people get in return? A 'promise' that they 'might' cut 1 trillion in spending over the next 10 years.
A promise they have no intention of keeping. 'Debt Crisis Solved'! scream the headlines. 'Solved?' Come this November, it'll be starting all over again, worse than ever.
It's over for these clowns
Submitted by Boudin on Mon, 08/01/2011 - 9:26pm.
75% of this Country wants the Fed under control, and what do these clowns do?Try the rabbit in the hat trick.
1 week ago, I thought these elitist were serous. I fell for the puffed out chest, the defiant rhetoric. I have to say today, I am through with any politician who self identifies as a Repub first. Through with the commie/political expediency politicians, we need Americans
Based on the (ill)logic of
Submitted by mattm on Mon, 08/01/2011 - 9:42pm.
Based on the (ill)logic of the Left, those of us who are facing serious financial trouble should simply borrow, borrow some more and borrow some more. We might also try printing money, or bonds, etc., but only the government has the legal right to counterfeit.
If private industry had spent
Submitted by dscott on Mon, 08/01/2011 - 10:36pm.
If private industry had spent the money that the government spent, there would be no recession, there would be a full employment economy with rising wages. Government spending does not increase economic output because malinvestment of capital has less than equal effect of private sector investment. Every penny the government spent was a malinvestment, a total waste of potential economic growth. ANYONE who thinks government spending has equal effect to private sector spending is ignorant of economics, JUST PLAIN IGNORANT. This is why CNN and liberals in general are clueless as to why the economy is not recovering.