James K. Galbraith
In fact, the right response to the crisis is to expand, not cut, both Social Security and Medicare.
The reality is, we are never going to make up good new jobs for everyone who has been hit.
Care for the elderly, energy, climate change, the Gulf of Mexico catastrophe, our decayed infrastructure, public health—these are real issues. Let’s deal with them.
The ‘long-term budget deficit’ is a phony problem, ginned up by politicians, some economists, and the historic enemies of Social Security and Medicare on Wall Street.
For God’s sake, let’s not sacrifice our most successful social programs to the hysteria we’re hearing from them.
The only concern about government deficit spending should be a whether it generates inflation….