Krugman: Romney Victory Could Mean "Double Dip Recession"

[Rohirrim]

"I think there's a real chance that he'll manage to pursue a policy in the first couple of years that simultaneously blows up the deficit and depresses the economy," the Nobel Prize-winning economist said on HuffPost Live Wednesday. "Tax cuts for the rich, who won't spend them, and slash spending for the poor and the middle class, who will be forced to cut back. And so we end up managing to have a simultaneous deficit explosion and double-dip recession."
http://www.huffingtonpost.com/2012/10/24/paul-krugman-mitt-romney-recession_n_2008847.html

[mhgaffney]

Yeah -- sure. I believe it.

But it will probably be even worse than that. Much worse -- if Romney leads us into another war.

[L.A. BRONCOS FAN]

When it comes to economic "stewardship," RobMe would pick up where the Bush Crime Family left off.

https://sphotos-b.xx.fbcdn.net/hphotos-snc7/581488_485686458119891_1846309065_n.jpg

[L.A. BRONCOS FAN]

Study: House Republican Budget Would Cut Medicaid by 38% or $1.7 Trillion

http://www.classwarfareexists.com/study-house-republican-budget-would-cut-medicaid-by-38-or-1-7-trillion/#ixzz2AGTMXYzb

The House Republican Budget is commonly referred to as “the Ryan plan” named after the guy who wrote it – Paul Ryan (R-WI). At the core thrust of it … Mitt Romney’s plan IS the Ryan Plan. Romney would absolutely sign the Ryan plan with gusto; he has said so publicly. He didn’t just embrace the Ryan plan … he picked the brain trust for that plan as his running mate. Make no mistake – Romney is deeply committed to the same vision. Remember – not only did Republicans vote for this with 95% approval by Republicans – Mitt Romney has said he would sign this into law.

[ZONA]

I've said before, this economic mess was so bad, there's nobody who could have turned this thing around in such a short time. In fact, if Romney does win, I seriously doubt the economy comes thriving back just because he's the new president. I think a mess such as it was, is a good 6-8 year recovery.

Obama may not have created as many jobs as he had hoped. But he created almost twice as many in 4 years and Bush Jr did in 8 years. Fact check that, you'll see it's true. What is Romney going to do different then Bush? Not much. I already said, I don't care if he doesn't tax rich people more, but I sure hell betcha he doesn't close ANY loop holes that favor the super wealthy or corporations.

[DenverBrit]

"I think there's a real chance that he'll manage to pursue a policy in the first couple of years that simultaneously blows up the deficit and depresses the economy," the Nobel Prize-winning economist said on HuffPost Live Wednesday. "Tax cuts for the rich, who won't spend them, and slash spending for the poor and the middle class, who will be forced to cut back. And so we end up managing to have a simultaneous deficit explosion and double-dip recession."
http://www.huffingtonpost.com/2012/10/24/paul-krugman-mitt-romney-recession_n_2008847.html

I think he's exactly right. What good will tax cuts for the wealthy do for this economy? They are not the 'job creators', they are mostly stock investors already benefiting from a 15% tax rate. Simply saying that closing loopholes will pay for the tax breaks is laughable, especially when those loopholes are unspecified. Adding another 2 trillion dollars to defense, when potential foes are cutting back their budgets, is absurd. And jobs. How is Romney going to create 12 million jobs? Is America really considering electing a political windsock who has no apparent convictions and treats his voter base like morons? This is not the GOP I recognize, nor has it been since W took office.

Obama has been a disappointment, but going back to the policies that created this mess is not a viable alternative. This is worse than the Dems offering Kerry as a Bush alternative. Until the Euro Zone and Asia begin to turn around also, we are stuck with more years of slow recovery, and no amount of bull**** from Romney and the far right is going to change that reality.

[Vegas_Bronco]

The facts is we are in trouble for many years to come...one person will throw logs on the fire while the other controls the burn. Obummers solution has been to spread the fire while adding logs. His plan is wreckless and he needs to read up on inflation and its deep daamaging effects.

[BroncoInferno]

The facts is we are in trouble for many years to come...one person will throw logs on the fire while the other controls the burn. Obummers solution has been to spread the fire while adding logs. His plan is wreckless and he needs to read up on inflation and its deep daamaging effects.

Well, that's the spin in right-wing fantasy land, anyway. The reality is, all economic indictators have improved the last 4 years. That's "controling the burn" to any rational, sane observer. Throwing logs on the fire would be going back to the neocon policies that put us in this mess to begin with. More tax cuts for the rich, $2 trillion more to the military that hasn't asked for it.

[Rohirrim]

The facts is we are in trouble for many years to come...one person will throw logs on the fire while the other controls the burn. Obummers solution has been to spread the fire while adding logs. His plan is wreckless and he needs to read up on inflation and its deep daamaging effects.

Only "Fantasy Obama" in Right Wing Wonderland. That's where these "facts" come from.

[Vegas_Bronco]

Well, that's the spin in right-wing fantasy land, anyway. The reality is, all economic indictators have improved the last 4 years. That's "controling the burn" to any rational, sane observer. Throwing logs on the fire would be going back to the neocon policies that put us in this mess to begin with. More tax cuts for the rich, $2 trillion more to the military that hasn't asked for it.

Obama has surpassed neocon spending...I dont see a close in the gap. i want to be taxed not controlled or conditioned by the govt.