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1 dragonfire1981  Fri, Jul 29, 2011 4:35:11pm

The numbers are right in line with the predictions I have made all along. Why can't I get me a sweet economist gig?

2 blueraven  Fri, Jul 29, 2011 4:55:32pm

This takes the wind out of some of the GOP talking points, but of course that won't phase them one bit. The last thing we need to be doing right now, in the short term, is cutting spending in a drastic way.

3 Prononymous, rogue demon hunter  Fri, Jul 29, 2011 7:59:26pm
Meanwhile, Congress' behaviour looks incredibly reckless in light of new figures. This publication has argued consistently that while America needs to address its medium- and long-run fiscal challenges, immediate austerity would be a mistake. The dire economic situation undergirds this point: Washington should delay immediate fiscal cuts. Indeed, it ought to be spending more now and revisiting the possibility of a payroll tax cut.

I have been saying this all along. During a recession is the wrong time to cut spending. Worrying about deficits is fine, once we are out of the slump. But for now government should be spending to make up for depressed consumer confidence, that only recovers as we make it out of the recession.

4 steve_davis  Sat, Jul 30, 2011 2:59:15am

re: #1 dragonfire1981

The numbers are right in line with the predictions I have made all along. Why can't I get me a sweet economist gig?

You have to take a statistical methodology course first, after which your predictions will become as bad as everyone else's.

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