Comments on: A debt deal that solves the wrong problem http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/ Sat, 21 Jun 2014 15:30:06 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: JohnSinclair http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/#comment-191 Fri, 05 Aug 2011 08:10:45 +0000 http://blogs.reuters.com/lawrencesummers/?p=81#comment-191 I live in Australia.My property shares are trading at a return of over 10% dividend.Yet they continue to fall.The latest debt ceiling deal just puts off the financial day of reckoning.The fact is that America must increase the tax burden on the wealthy.The tax structure in Australia is fair.People who earn more should pay much more tax.Social Justice should not be a casualty of economic mismanagement and greed within the finacial system.

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By: fromthecenter http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/#comment-179 Thu, 04 Aug 2011 03:46:54 +0000 http://blogs.reuters.com/lawrencesummers/?p=81#comment-179 End the wars, end the bush tax cuts, lower the corporate tax rate and eliminate all loopholes. DO NOT provide incentives for companies to outsource, provide incentives to insource. IT’S NOT THAT COMPLICATED!

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By: JPW2730 http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/#comment-175 Thu, 04 Aug 2011 00:58:30 +0000 http://blogs.reuters.com/lawrencesummers/?p=81#comment-175 Sounds like he has learned Bernanke`s double-speak gooblygook down pat. A whole lot of verbiage that says nothing.

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By: TechX85 http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/#comment-166 Wed, 03 Aug 2011 16:24:30 +0000 http://blogs.reuters.com/lawrencesummers/?p=81#comment-166 Mr. Summers, you are a disgrace. You are in fact responsible for much of what has occurred within our economy and our financial system. Shame on you. How can a man of your supposedly high intellect be so wrong? You, your beliefs and your policies are completely based on an ever increasing debt laden society in which the government commands and controls. Well you guys really screwed this one up. Why is it so hard for you to realize that loose lending policies result in failure, every single time? The effects of excessive debt is an elementary concept to understand. Then you just ignore the wrong decisions you guys made and allowed the failed institutions to live on until the next failure occurs, which has arrived by the way.

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By: AllForLight http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/#comment-165 Wed, 03 Aug 2011 16:11:33 +0000 http://blogs.reuters.com/lawrencesummers/?p=81#comment-165 I think this is a pretty fair analysis, with the one omission pointed out by a previous post, which is that ending the wars would save a whole pile of money.

Without revenue increases (which I am FOR, but which will not likely be forthcoming), the single largest thing we can do is reduce defense spending. Pulling back on the offensive front and retrenching to enhance intelligence efforts and defend against cyber-attacks can save an enormous expenditure, short-term. We can count on future attacks, but in the meantime we can “sharpen our spears and rebuild our walls” at a much lower cost than forward deployment.

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By: MasatoshiKubo http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/#comment-164 Wed, 03 Aug 2011 15:57:23 +0000 http://blogs.reuters.com/lawrencesummers/?p=81#comment-164 Big budget cut will worse economy and budget deficit will increase finally. 10 yrs treasury bond yield reached at 2.7% historical low level. It means bond market is not afraid of US default at all.
Government can finance at cheap cost 2.7%. We should issue government bond and stimulate economy, create more jobs.

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By: Medusa http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/#comment-163 Wed, 03 Aug 2011 15:22:31 +0000 http://blogs.reuters.com/lawrencesummers/?p=81#comment-163 Why would anyone listen to this rehashed Wall Street hack who is part of the problem rather than the solution? Like Colin Powell after his shameful UN presentation on WMDs, Larry Summers ought to hide away for a few years and contemplate the damage he has done to the American people. Flash to Summers: your policies don’t work!

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By: JackMack http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/#comment-162 Wed, 03 Aug 2011 14:14:12 +0000 http://blogs.reuters.com/lawrencesummers/?p=81#comment-162 What most Americans seem to fail to understand is that the ruling class lives in a post-national world. Patriotism is useful to them in the way that religious faith has been useful to the Church for milennia: as a means of controlling and exploiting the populace. Government officials, Wall Street, and the senior officers of large, multinational corporations have no use for or interest in promoting a healthy and strong America. More than 2/3 of economic growth comes from developing nations today; this is where the owners of our government make their money now. We the people of the US are here to serve them, and all decisions made by them will be in their interests, not ours. Rest assured, these interests do NOT coincide.

Expect to see politicians continuing to wrap themselves in the flag, appealing to the baser, partisan instincts of Joe Sixpack, while continuing to rip us all off and flee the country at the moment when we finally wake up and decide to take it back.

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By: Pete_Murphy http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/#comment-158 Wed, 03 Aug 2011 10:43:47 +0000 http://blogs.reuters.com/lawrencesummers/?p=81#comment-158 “The Hippocratic Oath applies in economics as well as medicine …”

If only economists felt that way in 1947 when they pushed the U.S. to draft and sign the Global Agreement on Tariffs and Trade. If they did, we wouldn’t be in the fiscal mess we find ourselves in today.

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By: Laidback http://blogs.reuters.com/lawrencesummers/2011/08/02/a-debt-deal-that-solves-the-wrong-problem/#comment-157 Wed, 03 Aug 2011 09:33:51 +0000 http://blogs.reuters.com/lawrencesummers/?p=81#comment-157 It is interesting to note what Vladimir Putin stated yesterday:”That the USA is like a parasite living off the rest of the world”. It is time that ambitious plans (read Iraq, Afghanistan, maybe a play on Iran) be stopped thereby saving billions.

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