Conservative and Libertarian Wacko Budget Hawks Should Be Ashamed of Their Lies and Agenda

Conservative and Libertarian Wacko Budget Hawks Should Be Ashamed of Their Lies and Agenda

Here's a pretty important fact that virtually everyone in Washington seems oblivious to: The federal deficit has never fallen as fast as it's falling now without a coincident recession.

To be specific, CBO expects the deficit to shrink from 8.7% of GDP in fiscal 2011 to 5.3% in fiscal 2013 if the sequester takes effect and to 5.5% if it doesn't. Either way, the two-year deficit reduction — equal to 3.4% of the economy if automatic budget cuts are triggered and 3.2% if not — would stand far above any other fiscal tightening since World War II.

Until the aftermath of the Great Recession, there were only three such periods in which the deficit shrank by a cumulative 2% of GDP or more. The 1960-61 and 1969-70 episodes both helped bring about a recession.

Far steeper deficit cuts during the demobilization from World War II and in 1937-38 both precipitated economic reversals.

Now the deficit is shrinking about 50% faster than it did during the booming late 1990s, when the jobless rate was falling south of 5% and tax revenues were soaring — without tax hikes.

Yet conservatives and libertarians, who have the nerve to claim they know economics and what is in the best interests of the country, claim that Democrats have been on a spending spree. Cons and weirdo Randians want the USA to follow Europe austerity path. Could it be that following such a path would be disastrous for the economy - and that know that, but want the economy to crash for one simple reason- they want to make Democrats and Obama look bad. Are conservatives and libertarians the enemy within.