Economic Reckoning For Local Washington?
http://thekojonnamdishow.org/shows/2013-01-16/economic-reckoning-local-washington
The Washington region managed to avoid the worst effects of the Great Recession, thanks in part to the relative stability of government employment and contracting. But a new era of federal belt-tightening could have a profound impact on the economies of Northern Virginia, Maryland and the District. We ask whether local economies are facing a reckoning.
Guests
Annie Lowrey
Reporter, New York Times
Marc Fisher
Senior Editor, The Washington Post
Comments
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We have 33 million Americans needing good full time jobs. That's an output gap that needs closing and the private sector, the job creators have had four years to do their job of creating jobs and they've failed.
Therefore, the Fed Gov has to spend to fill the gap until we reach full employment. Cutting gov spending means someone won't be able to spend in the market place.
Why don't Congress Critters understand that spending is the lifeblood of capitalism; no sales no capitalism. Gov releases trillions each year in SS, Defense Contracts, etc. and you want to cut that so that we can do what? We certainly won't see economic growth. Look at what austerity has done in the Euro Zone.
Try this on for size; public sector deficits equal,to the penny, net financial assets in the non-public sector. This means there are two clocks...deficit and surplus both with exactly the same numbers. Simple Acct 101.