Washington State Must Forget About Balancing the Budget and Spend, Spend, Spend

Comments

1

What happens when the State runs a deficit and can’t pay its teachers or social workers? Can it just print new money like the feds? If we default on our bonds, how will we debt finance with a crappy rating? If the state goes bankrupt, who bails us out? Or are our financial commitments and obligations just worthless?

3

@1 I don't know - alas the ancient and esoteric wisdom of our ancestors who lived pre-2012 has been lost forever in the mists of time.

for pete's sake - I get that conservatarians don't believe in counter-cyclical spending on moral grounds. But you'd think after nearly a century they'd be able to formulate some sort of argument against it that operated in material terms.

4

We cant keep throwing money at problems say people who never bat an eye over defense spending or corporate bailouts or tax cuts that increase the deficit. But suggest an investment in social services and public infrastructure? Apoplexy.

5

"There is no time in the entire history of capitalist economics (or, simply, economics) that "fiscal order" has improved the climate for business and investment and job creation."
Absolutely goddamn right. It is the classic Red Herring with your choice of ketchup.

6

@3 "for pete's sake - I get that conservatarians don't believe in counter-cyclical spending on moral grounds. "

Except THEY DO!

The GOP has been running up deficits (and debt) every single time they get in office. Including Trump.

Who do you think coined the term "deficits don't matter?" That was Dick Cheney. They just want hand it over to their billionaire donors.

https://www.chicagotribune.com/news/ct-xpm-2004-01-12-0401120168-story.html

"Former Treasury Secretary Paul O'Neill said he was told "deficits don't matter" when he warned of a looming fiscal crisis.

In a new book chronicling his rocky two-year tenure and in an interview with CBS's "60 Minutes" that aired Sunday, O'Neill also said President Bush balked at his more aggressive plan to combat corporate crime because of opposition from "the corporate crowd."

O'Neill said he tried to warn Vice President Dick Cheney that growing budget deficits posed a threat to the economy.

Cheney cut him off, O'Neill said. "You know, Paul, Reagan proved deficits don't matter," he said, according to excerpts. Cheney continued: "We won the midterms [congressional elections]. This is our due."

A month later, in December 2002, Cheney told the Treasury secretary he was fired."

7

Two Santa Clauses

https://www.salon.com/2018/02/12/thom-hartmann-how-the-gop-used-a-two-santa-clauses-tactic-to-con-america-for-nearly-40-years_partner/

11

a trillion dollars for the banks? sure, we got it. a trillion dollars to kill people of color on the other side of the world? sure, we got it. something, anything for the people of this country whose lives are being ruined through no fault of their own... that's completely irresponsible, how dare you.

and that's the democrats... our 'leftists.'

12

Charles makes a good point our state not having the flexibility of the Federal Government, a corporation or other entity to issue debt. It's an artificial constraint, but one that has some history in unsustainable debt. However there is no easy out. Even without the 2012 law, issuing debt would require legislative or voter approval and comes with risk. Also the conservative voices here are just pissed that we are a liberal, yet fiscally conservative state. (I won't say the latter about Seattle.)

13

@2 & @10: Um...stop binge watching Sinclair Broadcasting and FOX-TeeVee. Neither one is a reliable news source. Nor is Twitter.
@11: You've got that backward. It's the RepubliKKKans--whether they're local, state, or federal, NOT the Democrats--- who don't have trillions for the average U.S. citizens. All they care about is the KKKorprate 1%.

14

fine, i have been reaching out to the stranger about this!!!!!https://us3.campaign-archive.com/home/?u=4946817b18454973fb1cd7ecc&id=e81d77774f