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Quote
"Whatever favorable or unfavorable effects the existence and growth of the debt may have, what matters is its relation to other economic variables, such as national income, resources of the banking system, volume of private securities outstanding, and so on."

— Domar E. THE ‘BURDEN OF THE DEBT’ AND THE NATIONAL INCOME. American Economic Review [serial online]. December 1944;34(4):798. Available from: Business Source Complete, Ipswich, MA. Accessed April 9, 2013

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"The theory of the multiplier and our actual experience during this war have demonstrated, I believe, that money income can be raised to any desired level if the total volume of public expenditures is sufficiently high. This view will probably also be accepted by the opponents of deficit financing. Their objections to such a policy are based on several grounds, the most important being the belief that continuous government borrowing results in an ever-rising public debt, the servicing of which will require higher and higher taxes; and that the latter will eventually destroy our economy, or result in an outright repudiation of the debt."

— Domar E. THE ‘BURDEN OF THE DEBT’ AND THE NATIONAL INCOME. American Economic Review [serial online]. December 1944;34(4):798. Available from: Business Source Complete, Ipswich, MA. Accessed April 9, 2013

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d3bs:


^ BORROWED THIS FROM...♚

d3bs:

^ BORROWED THIS FROM...

(Source: 360-wishes)

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pinkoscum:

Reagan, Thatcher, and Pinochet

pinkoscum:

Reagan, Thatcher, and Pinochet

(Source: beto-spopovich, via rknjl)

Quote
"In 1923, as a member of the Harvard board of directors, Roosevelt decided there were too many Jewish students at the college and helped institute a quota to limit the number admitted. In 1938, he privately suggested that Jews in Poland were dominating the economy and were therefore to blame for provoking anti-Semitism there. In 1941, he remarked at a Cabinet meeting that there were too many Jews among federal employees in Oregon. In 1943, he told government officials in Allied-liberated North Africa that the number of local Jews in various professions “should be definitely limited” so as to “eliminate the specific and understandable complaints which the Germans bore towards the Jews in Germany."

— Rafael Medoff “FDR’s Troubling View of Jews” LA Times (x)

(Source: rknjl)

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“After more than a decade representing blood-red Texas in the United States Senate, John Cornyn finds himself in an unusual spot: burnishing his conservative credentials. One would think the senior Texas senator’s reputation would be secure: Mr. Cornyn, who has ascended to minority whip, spent two election cycles as the chairman of the Senate’s Republican campaign fund-raising arm, and National Journal last week ranked him second in its 2012 list of the most conservative senators. But with the departure of Kay Bailey Hutchison, his more moderate fellow Texas Republican, and the arrival of the state’s unabashed new junior senator, the Tea Party darling Ted Cruz, Mr. Cornyn seems to be shifting discernibly right, as evidenced, Republican observers say, by his recent positions on everything from cabinet appointees to a bipartisan immigration plan. Mr. Cornyn’s aides say that this perception is not reality and that anyone looking at the last few weeks rather than the last 11 years is missing a solid conservative voting record.

Some See a Move by Cornyn to the Right. New York Times. February 2013. 

http://www1.hifiwiki.net/files/news/pdf/bb3690b2368d1dc10520e8912fd1190e/nytimes_2013_02_24.pdf

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leebarguss:

F A R (by Alex Strohl)

leebarguss:

F A R (by Alex Strohl)

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"An early criticism of the Stability and Growth Pact has pointed to its asymmetric nature and the weak mechanisms to prevent politically-motivated fiscal policies: its constraints would bite in downswings but not in upswings, especially if in the latter the electoral cycle increases the temptation to run expansionary policies."

Buti, Marco; Noord, Paul van den. Discretionary Fiscal Policy and Elections: The Experience of the Early Years of EMU. Ideas.repec.org. 03 Mar 2003. http://ideas.repec.org/p/oec/ecoaaa/351-en.html?ref=Klasistanbul.Com

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"I n 1992, President Bush proposed legislation intended to speed up the recovery from the 1990-91 recession. Congress rejected this proposal for countercyclical fiscal policy stimulus. In early 1993 President Clinton proposed his own stimulus package, but Congress rejected this proposal too. Many reasons were given … the most common one was the large federal deficit. With the rapid disappearance of budget deficits in recent years, this reason to vote against a discretionary fiscal stimulus is unlikely to be mentioned in the next economic cycle. Discretionary counter-cyclical fiscal policy again appears to be a politically feasible option. But should America use it after so many years of disuse?"

Taylor, John B. Reassessing Discretionary Fiscal Policy. Journal of Economic Perspectives. Volume 14, Number 3. Summer 2000. Pages 21-36.

http://www.jstor.org/discover/10.2307/2646917?uid=3739256&uid=2&uid=4&sid=21102001059431