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John Maynard Romney: Spending cuts hurt growth
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Max Power Offline
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John Maynard Romney: Spending cuts hurt growth
:clap2: :clap2: :clap2: :clap2: :clap2: :clap2: :clap2:

Acceptance of Keynesian economics has me at least a little less worried about his candidacy.

http://firstread.msnbc.msn.com/_news/201...mic-growth
Quote:Mitt Romney said Tuesday that cutting spending slows growth in the economy -- a rhetorical slip more akin to an argument a Democrat might make than a Republican.

Speaking in Shelby Township, MI, the former Massachusetts governor took a question about the Simpson-Bowles fiscal commission empaneled by President Obama to address the nation's deficit and debt issues. In his response, he said that addressing taxes and spending issues are essential.

"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

That sort of comment was sure to raise the eyebrows of fiscal conservatives in the GOP, who have long preached a message of fiscal restraint as a path to economic growth.

"It's hogwash. It confirms yet again that Romney is not a limited government conservative," said Andy Roth, the vice president for government affairs at the fiscally conservative Club for Growth. "The idea that balancing the budget would not help the economy is crazy. If we balanced the budget tomorrow on spending cuts alone, it would be fantastic for the economy."

Romney is set to unveil a new, more detailed economic plan later this week, especially as he works to shore up primary victories in Arizona and his native Michigan.

But he's offered an insight into his thinking by endorsing a previous fiscal plan (the Cut, Cap and Balance plan, which calls for cuts to spending, a cap on the growth of government spending, and a balanced budget amendment) that doesn't necessarily rely on accompanying tax reforms.

The Obama administration has been particularly clear about its view that cutting spending would strangle off any hope of an economic recovery. Jack Lew, the new White House chief of staff made that point in a Feb. 12 appearance on "Meet the Press."

"I think that there's pretty broad agreement that the time for austerity is not today," Lew said. "We need to be on a path where over the next several years we bring our deficit under control. Right now we have a recovery that's taking root and if we were to put in austerity measures right now, it would take the economy in the wrong way."

Romney's comment, if nothing else, would represent a rhetorical departure from the rest of the Republican Party, which has done battle with the Obama administration over the past year about the best course for economic growth.

"We’re listening to the people who sent us here to cut spending so we can grow our economy," House Speaker John Boehner (R-OH) said just less than a year ago, at the height of a fight between Obama and congressional Republicans over funding the government.

***UPDATE*** Romney spokesman Ryan Williams commented on the comments:

The governor’s point was that simply slashing the budget, with no affirmative pro-growth policies, is insufficient to get the economy turned around. However, he believes that budget cuts – especially in the context of President Obama’s unprecedented spending explosion – are a step in the right direction. As he made clear in his economic plan, he believes that spending cuts that reduce the size of government and balance the budget are crucial to economic growth and job creation.
02-22-2012 01:22 PM
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AtlanticLeague Offline
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RE: John Maynard Romney: Spending cuts hurt growth
He's right. So obviously that's going to hurt him with the GOP base.
(This post was last modified: 02-22-2012 01:29 PM by AtlanticLeague.)
02-22-2012 01:28 PM
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Bull_In_Exile Offline
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Post: #3
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.
02-22-2012 02:12 PM
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AtlanticLeague Offline
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RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.
02-22-2012 02:19 PM
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RobertN Offline
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Post: #5
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.
It is working so well in Greece...
02-22-2012 02:25 PM
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BlazerFan11 Offline
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Post: #6
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.

Explain how the CBO was wrong it it said the stimulus package would end up having a negative effect on GDP.

(02-22-2012 02:25 PM)RobertN Wrote:  
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.
It is working so well in Greece...

Yep, it was those damn conservative economic policies that led Greece to where they are today. If only they'd had more spending and entitlements...
02-22-2012 02:35 PM
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Bull_In_Exile Offline
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Post: #7
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.

Cutting spending decreases the debt and, long term, increase the health of the National Economy. Longer term spending makes you look like Greece
02-22-2012 02:44 PM
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RobertN Offline
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RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:35 PM)BlazerFan11 Wrote:  
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.

Explain how the CBO was wrong it it said the stimulus package would end up having a negative effect on GDP.

(02-22-2012 02:25 PM)RobertN Wrote:  
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.
It is working so well in Greece...

Yep, it was those damn conservative economic policies that led Greece to where they are today. If only they'd had more spending and entitlements...
You misundrstood. Read up on how Greece is doing now that they have cut a bunch of jobs. I posted an article in another thread where the sconomy is collapsing and debt to GDP is getting worse.
02-22-2012 02:47 PM
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RobertN Offline
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Post: #9
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:44 PM)Bull_In_Exile Wrote:  
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.

Cutting spending decreases the debt and, long term, increase the health of the National Economy. Longer term spending makes you look like Greece
So you think destroying the current economy is acceptable?
02-22-2012 02:49 PM
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Bull_In_Exile Offline
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Post: #10
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:49 PM)RobertN Wrote:  
(02-22-2012 02:44 PM)Bull_In_Exile Wrote:  
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.

Cutting spending decreases the debt and, long term, increase the health of the National Economy. Longer term spending makes you look like Greece
So you think destroying the current economy is acceptable?

I think taking a fatal amount of morphine to deal with a headache is a really stupid thing to do..

The plan needs to be a gradual reduction in actual spending (not growth of spending) over the next 10-15 years. Back to about what we were spending (inflation adjusted) in the late 70's early 80's...
02-22-2012 02:56 PM
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I'mMoreAwesomeThanYou Offline
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Post: #11
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:49 PM)RobertN Wrote:  
(02-22-2012 02:44 PM)Bull_In_Exile Wrote:  
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.

Cutting spending decreases the debt and, long term, increase the health of the National Economy. Longer term spending makes you look like Greece
So you think destroying the current economy is acceptable?

that question only makes sense if you assume the economy is in a good place right now.
02-22-2012 02:58 PM
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BlazerFan11 Offline
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Post: #12
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:47 PM)RobertN Wrote:  
(02-22-2012 02:35 PM)BlazerFan11 Wrote:  
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.

Explain how the CBO was wrong it it said the stimulus package would end up having a negative effect on GDP.

(02-22-2012 02:25 PM)RobertN Wrote:  
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.
It is working so well in Greece...

Yep, it was those damn conservative economic policies that led Greece to where they are today. If only they'd had more spending and entitlements...
You misundrstood. Read up on how Greece is doing now that they have cut a bunch of jobs. I posted an article in another thread where the sconomy is collapsing and debt to GDP is getting worse.

So the answer was to not cut spending, and default?
02-22-2012 03:13 PM
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Max Power Offline
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Post: #13
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:35 PM)BlazerFan11 Wrote:  Explain how the CBO was wrong it it said the stimulus package would end up having a negative effect on GDP.

The (very) long term negative effects of the stimulus are due to the fact it's paid for by borrowing, and so therefore we have to pay interest on it for years in perpetuity, and bondholder. Basically, the stimulus raised GDP by 3% through this year and starting in 2015 it will start lowering it by 0.2% each year. If the stimulus is paid for by currency devaluation or direct taxation though it would have very clear positive effects.

(02-22-2012 02:35 PM)BlazerFan11 Wrote:  Yep, it was those damn conservative economic policies that led Greece to where they are today. If only they'd had more spending and entitlements...

It's the damn conservative Euro policy which took away the tool of currency devaluation that led to the crisis. And it's the damn conservative policy of austerity that's making it worse, shrinking their GDP by 7% and causing massive unemployment. Tough to pay off that debt when tax revenues dry up.
02-22-2012 03:19 PM
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Max Power Offline
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RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:44 PM)Bull_In_Exile Wrote:  Cutting spending decreases the debt and, long term, increase the health of the National Economy. Longer term spending makes you look like Greece

Cutting spending also decreases demand which decreases output which decreases GDP. A growing debt is fine (and sometimes necessary), so long as it's not severely outpacing the growth of our economy.

http://www.nytimes.com/2012/01/02/opinio...-debt.html
Quote:Nobody Understands Debt
By PAUL KRUGMAN
Published: January 1, 2012

In 2011, as in 2010, America was in a technical recovery but continued to suffer from disastrously high unemployment. And through most of 2011, as in 2010, almost all the conversation in Washington was about something else: the allegedly urgent issue of reducing the budget deficit.

This misplaced focus said a lot about our political culture, in particular about how disconnected Congress is from the suffering of ordinary Americans. But it also revealed something else: when people in D.C. talk about deficits and debt, by and large they have no idea what they’re talking about — and the people who talk the most understand the least.

Perhaps most obviously, the economic “experts” on whom much of Congress relies have been repeatedly, utterly wrong about the short-run effects of budget deficits. People who get their economic analysis from the likes of the Heritage Foundation have been waiting ever since President Obama took office for budget deficits to send interest rates soaring. Any day now!

And while they’ve been waiting, those rates have dropped to historical lows. You might think that this would make politicians question their choice of experts — that is, you might think that if you didn’t know anything about our postmodern, fact-free politics.

But Washington isn’t just confused about the short run; it’s also confused about the long run. For while debt can be a problem, the way our politicians and pundits think about debt is all wrong, and exaggerates the problem’s size.

Deficit-worriers portray a future in which we’re impoverished by the need to pay back money we’ve been borrowing. They see America as being like a family that took out too large a mortgage, and will have a hard time making the monthly payments.

This is, however, a really bad analogy in at least two ways.

First, families have to pay back their debt. Governments don’t — all they need to do is ensure that debt grows more slowly than their tax base. The debt from World War II was never repaid; it just became increasingly irrelevant as the U.S. economy grew, and with it the income subject to taxation.

Second — and this is the point almost nobody seems to get — an over-borrowed family owes money to someone else; U.S. debt is, to a large extent, money we owe to ourselves.

This was clearly true of the debt incurred to win World War II. Taxpayers were on the hook for a debt that was significantly bigger, as a percentage of G.D.P., than debt today; but that debt was also owned by taxpayers, such as all the people who bought savings bonds. So the debt didn’t make postwar America poorer. In particular, the debt didn’t prevent the postwar generation from experiencing the biggest rise in incomes and living standards in our nation’s history.

But isn’t this time different? Not as much as you think.

It’s true that foreigners now hold large claims on the United States, including a fair amount of government debt. But every dollar’s worth of foreign claims on America is matched by 89 cents’ worth of U.S. claims on foreigners. And because foreigners tend to put their U.S. investments into safe, low-yield assets, America actually earns more from its assets abroad than it pays to foreign investors. If your image is of a nation that’s already deep in hock to the Chinese, you’ve been misinformed. Nor are we heading rapidly in that direction.

Now, the fact that federal debt isn’t at all like a mortgage on America’s future doesn’t mean that the debt is harmless. Taxes must be levied to pay the interest, and you don’t have to be a right-wing ideologue to concede that taxes impose some cost on the economy, if nothing else by causing a diversion of resources away from productive activities into tax avoidance and evasion. But these costs are a lot less dramatic than the analogy with an overindebted family might suggest.

And that’s why nations with stable, responsible governments — that is, governments that are willing to impose modestly higher taxes when the situation warrants it — have historically been able to live with much higher levels of debt than today’s conventional wisdom would lead you to believe. Britain, in particular, has had debt exceeding 100 percent of G.D.P. for 81 of the last 170 years. When Keynes was writing about the need to spend your way out of a depression, Britain was deeper in debt than any advanced nation today, with the exception of Japan.

Of course, America, with its rabidly antitax conservative movement, may not have a government that is responsible in this sense. But in that case the fault lies not in our debt, but in ourselves.

So yes, debt matters. But right now, other things matter more. We need more, not less, government spending to get us out of our unemployment trap. And the wrongheaded, ill-informed obsession with debt is standing in the way.
(This post was last modified: 02-22-2012 03:24 PM by Max Power.)
02-22-2012 03:23 PM
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DrTorch Offline
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Post: #15
RE: John Maynard Romney: Spending cuts hurt growth
Italy selling of lighthouses
http://news.yahoo.com/euro-crisis-cash-s...45200.html

How's that Keynesian economics working out for them? 03-lol

(Hey, I hear unicorn poop makes great ferlizer for beanstalks and lucky four-leaf clovers)
02-22-2012 03:34 PM
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Ninerfan1 Offline
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Post: #16
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 03:34 PM)DrTorch Wrote:  Italy selling of lighthouses
http://news.yahoo.com/euro-crisis-cash-s...45200.html

How's that Keynesian economics working out for them? 03-lol

(Hey, I hear unicorn poop makes great ferlizer for beanstalks and lucky four-leaf clovers)

Only a moron like Max could look at Greece and believe cutting spending is the problem. It amazes me that liberals have a prime example of the failure their policies are in the form of what is happening in Europe yet insist we should dive head first into the same situation.
02-22-2012 03:39 PM
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Max Power Offline
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Post: #17
RE: John Maynard Romney: Spending cuts hurt growth
Hey I just thought of another solution. How about they (and us) tax the churches?

[Image: Crystal-Cathedral-Megachurch-cash-strapped.jpg]

[Image: st-patricks-cathedral-picture.jpg]
02-22-2012 03:48 PM
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BlazerFan11 Offline
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Post: #18
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 03:19 PM)Max Power Wrote:  
(02-22-2012 02:35 PM)BlazerFan11 Wrote:  Explain how the CBO was wrong it it said the stimulus package would end up having a negative effect on GDP.

The (very) long term negative effects of the stimulus are due to the fact it's paid for by borrowing, and so therefore we have to pay interest on it for years in perpetuity, and bondholder. Basically, the stimulus raised GDP by 3% through this year and starting in 2015 it will start lowering it by 0.2% each year. If the stimulus is paid for by currency devaluation or direct taxation though it would have very clear positive effects.

And how would more gov't spending be paid for? More debt. Surely you don't think the entire national debt can be paid off with tax hikes (?). And by openly pining for currency devaluation, you can no longer keep up the masquerade of being a crusader for the poor.

Max Power Wrote:
(02-22-2012 02:35 PM)BlazerFan11 Wrote:  Yep, it was those damn conservative economic policies that led Greece to where they are today. If only they'd had more spending and entitlements...

It's the damn conservative Euro policy which took away the tool of currency devaluation that led to the crisis. And it's the damn conservative policy of austerity that's making it worse, shrinking their GDP by 7% and causing massive unemployment. Tough to pay off that debt when tax revenues dry up.

You must be the first person in the world to call the EU policies "conservative." BTW, currency devaluation sure worked wonders for Belarus last year.

Quote:Belarus is headed for an economic “meltdown” and the ruble will need to depreciate another 51 percent, VTB Capital said, as locals lay siege to shops and protest price increases after the central bank devalued the currency.

The Belarusian central bank let the managed ruble weaken by 36 percent versus the dollar on May 24 as demand for dollars and euros from importers and households threatened to derail an economy already laboring under a current-account deficit equal to 16 percent of gross domestic product.

http://www.bloomberg.com/news/2011-05-25...-says.html
02-22-2012 04:30 PM
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I'mMoreAwesomeThanYou Offline
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Post: #19
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 02:25 PM)RobertN Wrote:  
(02-22-2012 02:19 PM)AtlanticLeague Wrote:  
(02-22-2012 02:12 PM)Bull_In_Exile Wrote:  
(02-22-2012 01:28 PM)AtlanticLeague Wrote:  He's right. So obviously that's going to hurt him with the GOP base.

Right we can grow government spending at 6-12% a year for decades and but rolling it back 5-15% would be the end of civilization.

He didn't say we should grow it at 6-12%.

Here's the quote:
Quote:"If you just cut, if all you're thinking about doing is cutting spending, as you cut spending you'll slow down the economy," he said in part of his response. "So you have to, at the same time, create pro-growth tax policies."

Explain why he is completely wrong. Explain how cutting government spending will increase GDP.
It is working so well in Greece...

What, in your opinion, is causing the problems in Greece?
02-22-2012 04:40 PM
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RaiderATO Offline
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Post: #20
RE: John Maynard Romney: Spending cuts hurt growth
(02-22-2012 03:48 PM)Max Power Wrote:  Hey I just thought of another solution. How about they (and us) tax the churches?

Well, you're already taxing their source of income when it is earned by the donors, why not tax it again!?!?!?

I'm sure there are a few other steps along the way that the govt. can skim some off.
02-22-2012 04:42 PM
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