| badgenome said: Isn't this always the argument when a government finally has to come to grips with its deficits? "Oh, you can't stop spending and you can't fire government workers, you'll kill the economy!" There are lots of examples of governments doing just that in spite of all the usual doomsaying (think: Canada in the '90s), and the economy only took off from there. Can you name even one single instance of an economy tanking because the government stopped racking up absurd deficits?
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the exact same fearmongering is being done when people say "oh, you can't raise taxes, you'll kill the economy!". fact is taxes were higher under clinton before bush's tax cuts for the wealthy and the economy thrived.
...the economy is a complicated beast and if anyone tells you any one aspect of the economy with have a dire impact they are lying or over-exaggerating. this entire debt-limit crisis is a ton of BS from both sides of the aisle...
