We need to stop austerity somehow or the economy is going for a double dip.

[mmonk]

First, the basics. At last count, government at all levels – federal, state and local – employed 22 million Americans, with the largest segment working in public education. Is that too many? No. Since the late 1980s, the number of public sector workers has averaged about 7.3 for every 100 people. With the loss of 569,000 government jobs since June 2009, that ratio now stands at about 7 per 100.

Public sector job loss means trouble for everyone. Government jobs are crucial to education, public health and safety, environmental protection, defense, homeland security and myriad other functions that the private sector cannot fulfill. They are also critical for private sector job growth in two fundamental ways. First, the government gets its supplies from private sector companies, which is why Republican senators like John McCain have been frantically warning about the dire effects on job creation if Congress moves ahead with planned military spending cuts. (Republicans insisted upon the cuts as part of their ill-advised showdown over the debt ceiling.) Second, government spending on supplies and salaries reverberates strongly through the economy, increasing demand and with it, employment.

Read more here: http://www.newsobserver.com/2012/10/24/2435892/real-jobs-all-right.html#storylink=cpy


Krugman on the possibility of a Romney victory:

http://www.5min.com/Video/Paul-Krugman-Double-Dip-Recession-If-Romney-Wins-517516033


I don't think the future looks real great unless we the people can exert pressure somehow.

[reformist2]

1. +1000. Just look at Europe - wherever austerity is tried, it fails.

Not only does the economy tank, it doesn't even reduce the deficit as much as they hoped. The elite are going to have to swallow the bitter pill that only taxing excessive wealth will solve the world's fiscal/economic problems.

[kansasobama]

2. What Austerity means?

Filthy rich will take zero hits, will get their tax cuts, but spending cuts on the rest.

Why do you think there are riots in Greece?

Also, they talk about changing Social Security and Medicare. Oh yes, do change it for those making over 500,000.

No Austerity unless they also take the pounding. I will take spending cuts if the rich do.

[Meg_Griffin_1]

6. I wish....

I have paid more in Social Security taxes during the time I worked than I will receive in benefits after I retire. WTF!!

If I could have invested MY OWN money I would be filthy ass rich buy now......

This taxing our asses to death PISSES me off to no end.

My son won't have anything by the time he retires and the only hope he will have is a few HIGH producing gas wells that I have in PA.

Yes I know eventually they will dry up.

But as of now I get royalties from them and put as much money into gold as I can just for HIM!

I started buying gold 5 years ago.....

One way or the other he will have a wonderful life PERIOD!

[mmonk]

7. Guaranteed benefits with no risk beats some sort of modified 401K anytime.

Just the way pensions beat IRA's or 401Ks. This is all just shifting money to the money changers for their benefit.

[exboyfil]

3. Additional revenue

Fed buying more debt is not an option in my opinion.

[bossy22]

4. 2 seperate issues

the fed buys debt to manage monetary policy

[mmonk]

5. QE3 was the only thing the fed could do due to inaction on the Congressional front.

[JackN415]

8. we need to pass the job bill. n/t

[WinkyDink]

9. The world bankers want to end---END---social programs; hence, the sovereign cries of poor-mouth to

be "fixed" by impoverishing the citizenry of Western Europe and the U.S.
Then, when we are in Chinese-peasant circumstances, the Captains of Industry will return to "hire" us.

[mmonk]

10. Won't work if everyone works for cheap. No buyers, no demand.