Despite all of the doom-and-gloom about the economy (much of which I've shared), Chief Vanguard Economist Joe Davis, PHD, believes that overall macroeconomic future is bright and that we may very well be at the edge of a transformation on par with that of the industrial revolution. He's a very smart guy and this is pretty interesting: The Link
Agreed. It's time to take a stand on expenditures. It will be painful but GOP needs to take the next showdown all the way. Obviously, they'll still have to fight the 'defenders of the rich' label but it will carry less weight IMO come March. But they will have to show up with some 'loophole closing' recomendations at the same time. And it will go a long way if they figure out what defense cuts they are willing to accept and get out in front on it. It will blunt criticism of their usual proclivity to protect defense industry. If the GOP wants to have credibility in the budget debate they can't look like they were forced into defense cuts but more like they did a complete and conscientous review and found the pork that was there.
"Austerity" (or, what is called austerity) in most European countries right now means more stimulus spending than ever and punitive taxation. Why Austerity Works and Stimulus Doesn’t Latvia is growing faster than any other European country, after following the path of actual spending austerity.
It's time to do away with about 50% of the alphabet soup agencies, and cut the federal workforce by the same.
