Seth Casey | Arkansas news, politics, opinion, restaurants, music, movies and art

Seth Casey 
Member since Nov 2, 2011


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Re: “ASU prof enters 1st District Democratic primary

If we were to lower tax rates and increase (that's not a typo, I said increase) domestic government spending we could bring unemployment down to around 3.0% (the average bull market rate). If we spend government funds on domestic projects like schools, hospitals, roads, bridges, health-care, trains, airports, etc, we create millions of new jobs at home that can't be outsourced. In the mean time, when we lower taxes we increase the buying power of the entire tax paying population who then take that power and spend (creating more new jobs in the retail and supply sectors). This would raise the national debt at first; but the national debt isn't as bad as we've been told. The government generates wealth by selling debt in the form of government bonds. The real problem with our economy isn't the budget deficit, it's the lack of jobs. If we can reach near universal employment, like we did in Clinton's second term, we can significantly increase the size of our economy and eliminate the deficit.

The government can't default by the way. Saying the government can default is like saying that I have a credit card with no spending limit where I get to set the interest rates. Also, The money I owe on the card is to myself because I'm my own banker. This is a rough metaphor for the relationship between the government and the federal reserve.

This may have been a digression, but I just hate to hear the yelling from both sides of the aisle. Both sides are wrong. We have to create jobs by what ever means necessary; everything else will work itself out when we reach full employment.

Posted by Seth Casey on 11/02/2011 at 5:29 PM

 

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