In need of fiscal clarity

“To place before mankind the common sense of the subject, in terms so plain and firm as to command their assent.”

- Thomas Jefferson, on the purpose of the Declaration of Independence, 1776.

COMMON SENSE:

“A not-so-funny thing happened on the way to economic recovery. Over the last two weeks, what should have been a deadly serious debate about how to save an economy in desperate straits turned, instead, into hackneyed political theater, with Republicans spouting all the old clichés about wasteful government spending and the wonders of tax cuts.

“It’s as if the dismal economic failure of the last eight years never happened — yet Democrats have, incredibly, been on the defensive. Even if a major stimulus bill does pass the Senate, there’s a real risk that important parts of the original plan, especially aid to state and local governments, will have been emasculated.”

So wrote Paul Krugman in his New York Times column Friday, 6 February 2009 (LINK).

He was right. In the interim, aid to local and state governments was slashed by $40 billion. I’ve been reading Krugman for eight years, and his predictions about the U.S. economy have always been right.

Most of you know Krugman is a professor of economics and international affairs at Princton and was this year’s recipient of the Nobel Prize for Economics.

IN TERMS SO PLAIN AND FIRM:

We need answers.

Where has all the money gone?

And, how in the hell did this country begin the slippery slope to abysmal financial failure?

Krugman’s good. He really is. But, a few days ago I found a blog post which gives us the answers with such clarity, I want you to pack up right now and take a short trip over to Papamoka Straight Talk.

Michael Boh, who blogs on Our Rants and Raves! is Papamoka Straight Talk’s “left coast contributor,” and in one of his so-called “rants,” he has answered any questions you might have about where we find ourselves – economically – today.

Michael has a tendency to characterize those who don’t bother to stay informed, those who fall for “the Party line,” in vivid terms, but you will come away from this post – complete with graphs – more informed.

Read Michael’s facts about “fiscal responsibility,” so you won’t be fooled by pathetic partisan propaganda: LINK

I’m sure glad I did!

TO COMMAND THEIR ASSENT:

The “recovery plan” – H.R. 1 - regardless of its final content will certainly pass Senate muster today. A House and Senate compromise will be reached in time for President Obama’s signature before the President’s Day recess.