Friday, September 24, 2010

Coburn - "From His Mouth To God's Ears"

"We should boldly argue that in today's economy, restraint is stimulus. Research by economists Carmen Reinhart and Kenneth Rogoff' suggests the size of our debt may already slowing our economy by one point of Gross Domestic Product each year. In 2009, Obama economic advisers Christina Romer and Jared Bernstein told Congress "that a one percent increase in GDP corresponds to an increase in employment of approximately one million jobs ... [t]his has been the rough correspondence over history." In other words, not growing the GDP by one point because of our debt means one million jobs will not be created. Everyone knows this problem will grow much worse as the unfunded liabilities of Medicare, Medicaid and Social Security pile up."

We already know that if the GOP does regain some measure of power, now or in 2012, they will squander it and betray everything they will promise - this is politics we're discussing, after all, we know it is by its nature corrupted.  But if only Coburn's voice and vision could hold sway for a while ...

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