Recently the IMF warned that due to a recently stalled European and Chinese economy, large cuts to US government spending may result in a regression back into recession. The Romney/Ryan budget disproportionally cuts government spending compared to increases in revenue. Think about those repercussions...think about how the free market of supply and demand works.
The responsible way to transition the economy would be to modestly cut spending from areas that can survive it, and to allow the middle class(spending class) tax cuts to remain as it and to slightly (a few percent) increase among those making more than $250,000. This should avoid the fall out of this fiscal cliff while allowing the government budget to begin it's shift to a balanced budget. (This is similar to the Obama fiscal plan)
IMF October Discussions
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