Friday, December 07, 2012

Howard Dean: "We've got to do something about the deficit in this country"

Finally, a voice of reason in the budget sequester/ tax hike debate. Howard Dean, former governor, former DNC Chair and former presidential candidate, appears to be the only adult in the discussion. We already have a bipartisan budget deal, it's been in place for 18 months, so let it play out.

Here is a defense contractor CEO whining about having to cut her budget. Gov Dean points out that there have been no substantive defense budget cuts in 30 years and the greatest risk to our national security is not some outside threat but rather the federal deficit that is approaching 100% of our GDP.

Hickton, the defense contractor CEO, states that the budget deal has no direction and is unfair to the defense industry. Bullshit. It's an across the board reduction in spending, and it's only $600 billion. The direction is clear: we will be spending less money. It's no secret that these projected cuts have been in place for over a year. What have these companies been doing to prepare? Hoping? Ugh.

CNBC leaves no doubt that they want some other deal than what has been passed.. In fact, I have yet to see or read anything in the mainstream media that likes the budget deal that was enacted in 2011 and is about to take place. Too much austerity, too many tax hikes, blah, blah, blah.  Now we have toi endure the "we will not be safe with defense cuts" hysteria?  Please.

The fact remains that this was a bipartisan deal with the goal of eliminating the need for any debt ceiling debate every 8 or 9 months.

Gov Dean states the obvious: we'll get a recession. So? Clean out all the detritus from the economy, the creative destruction that should have happened 4 years ago.  One advantage is that the US dollar would get stronger, helping savers and workers in necessary industries.  

At the end of this clip, Mandy fatuously parrots the mantra that "we need a deal". No we don't.  We already have a deal. Let Congress go on vacation now.

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