Another Approach to the Deficit/Economy

[GoodWitch58]

http://epi.3cdn.net/b3c2500a206a5ea13a_n7m6vzdpr.pdf

this approach is focused on refueling middle class America...

A recession is not a time for fiscal austerity but rather
a time for investing in jobs and the middle class. Our
proposed policies work against the erosion of investment
that we have seen over the past 30 years, modernize an
antiquated and complex tax code, and achieve fiscal
sustainability while preserving Social Security and other
vital priorities

 

[30ashopper]

Federal spending as a percentage of GDP at 25% is too high, IMHO. But I wouldn't expect much less from progressive groups. This is good though, there are a lot of these plans floating around. We'll have to see what the deficit commission finally comes up with.

My personal and rather pessimistic guess is that any legislation resulting from all of these ideas will be watered down and ineffectual. Major reform is going to require a major crisis (see Europe for examples). Bush, Obama and the FED squandered the financial crisis by kicking the problem down the road, but at some point, we'll lose that option and be forced to deal with the situation.