Well, not really but that’s how they operate on the left, so I wonder how they will react to this revelation:
The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts.
The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and tax increases. The remaining 7 percent believe it should be done only or mostly through tax increases.
That tells me 56 percent of economists understand the problem with our politicians and spending, 37 percent are still hoping the politicians this time will actually institute real cuts if they get revenues, and only 7 percent are insane or stupid enough to think the answer is to fleece the productive even more. Looks like the grand majority is however for cuts, an aggregate 93% of economists that believe government is way too big and spending too much, and that’s an awesome thing to see, despite the fearful belief of some 37% that more taxes will not simply make these morons forgo any real cuts. The 7% that want tax increases only are to be made fun of. I bet most are part of the Obama Admin though. That was a joke CM, so don’t ask for proof please.
It gets better too.
As for how to reduce the deficit, nearly 40 percent said the best way would be to contain Medicare and Medicaid costs. Nearly a quarter recommended overhauling the tax system and simplifying tax rates and exemptions. About 15 percent said the government should enact tough spending caps and cut discretionary spending.
How about a balanced budget amendment – with no loopholes please! And also make everyone pay taxes. It is very clear now that the compassionate conservative move to spare the lowest earners from paying taxes just served to divorce them completely from the reality that the others paying taxes are already paying far too much. But there was also some bad.
According to the survey of 250 economists who are members of NABE, nearly 49 percent of those responding said the country’s fiscal policy should be more restrictive, while nearly 37 percent said they believe the government should do more to stimulate the economy. The remainder said fiscal policy should remain the same.
A striking 37% of these idiots either still think Keynesian economics work and that the problem was they didn’t spend enough or that government spurs economic growth. The reality is that it can certainly stump or kill economic growth, but as far as I am concerned whatever “stimulus” they do is at best mediocre, and more likely fictitious, because they do not account for the impact that taking all that wealth from others that do far better growing it has in any of this nonsense. And printing new money or borrowing it might short term look like it helps, but now that we are there economically and doing this stupid crap, we can clearly see that the jump in inflation and the weight of the huge debt load that comes with this, has a far greater overall impact on the economy.
Finally there is this:
At the same time, more than 70 percent of the people that responded said they expect U.S. fiscal policy to be more restrictive over the next two years.
One can only wish.
UPDATE: And many others are pointing this discrepancy in government spending vs. revenue collection out, like Byron York does in this awesome article at the Washington Examiner:
There’s no doubt federal spending has exploded in recent years. In fiscal 2007, the last year before things went haywire, the government took in $2.568 trillion in revenues and spent $2.728 trillion, for a deficit of $160 billion. In 2011, according to Congressional Budget Office estimates, the government will take in $2.230 trillion and spend $3.629 trillion, for a deficit of $1.399 trillion.
That’s an increase of $901 billion in spending and a decrease of $338 billion in revenue in a very short time. Put them together, and that’s how you go from a $160 billion deficit to a $1.399 trillion deficit.
But how, precisely, did that happen? Was there a steep rise in entitlement spending? Did everyone suddenly turn 65 and begin collecting Social Security and using Medicare? No: The deficits are largely the result not of entitlements but of an explosion in spending related to the economic downturn and the rise of Democrats to power in Washington. While entitlements must be controlled in the long run, Washington’s current spending problem lies elsewhere.
The truth is a bitch.