Just kidding… it’s the same shit we’ve been saying for two years (being right is kind of getting to be a habit), but this time it’s from Nobel Laureate Joseph Stiglitz, former Chair of the Council of Economic Advisers (he was doing that the last time the economy was actually booming), who has an easy little 4 point plan for getting the economy growing again…
When it comes closing the gap on the country’s $1+ trillion deficit on $14+ trillion in debt, Stiglitz says the country can turn things around in 4 relatively easy steps:
1. Repeal the Bush-Obama tax cuts for the richest Americans.
2. End the wars in Afghanistan and Iraq, “that have not improved our security” and are costing trillions of dollars. In 2010 Stiglitz published the book: The Three Trillion Dollar War: The True Cost of the Iraq Conflict.
3. Get Americans back to work. Stimulus and works programs are politically untenable right now but Stiglitz says spending on these programs will ultimately reduce the debt because if we put people to work and “our tax revenues will increase enormously”
4. Reform Medicare Part D – Under the current law, big pharma sets their own prices. Stiglitz says if that provision is eliminated and the government can negotiate drug prices it would save taxpayers $1 trillion over the next 10 years.
Simple, right? Politically ignorant? Not really. Frankly, political obstacles are actually easy to overcome with the proper application of pressure and public outcry. You’d be surprised how quickly you can kill any lobbyist effort. The idea that we just can’t overcome political obstacles is the basis for excuses that have put us squarely where we are. So, we either overcome them or we accept the long term decline of this country. I’m more for fighting.
It’s long past time for the Congress and the President to finally do what will work.