More stimulus is not what we need, argues YPNation contributor Ewan Watt. It's time to cut spending. It's the debate on everyone's mind...
"The longer we go down this road, the longer the pain will be. What I have proposed is a radical cut in spending and a return to some semblance of fiscal credibility in Washington, D.C. In turn, these cuts will pave the way for lower interest rates over a sustained period of time that will not just subsidize Wall Street, but also ease the burden on American households.
My initial post was meant to shock and alarm fellow young professionals about the perilous path we are following that will lead to a major increase in the cost of living and a less prosperous future for us and our families. I also cited the ugly consensus we now appear to have about the U.S. deficit. What’s telling is that the rest of the Western world (bar the United Kingdom) has learned a great lesson from the perils of combining a loose monetary system with a burdensome debt."
"The longer we go down this road, the longer the pain will be. What I have proposed is a radical cut in spending and a return to some semblance of fiscal credibility in Washington, D.C. In turn, these cuts will pave the way for lower interest rates over a sustained period of time that will not just subsidize Wall Street, but also ease the burden on American households.
My initial post was meant to shock and alarm fellow young professionals about the perilous path we are following that will lead to a major increase in the cost of living and a less prosperous future for us and our families. I also cited the ugly consensus we now appear to have about the U.S. deficit. What’s telling is that the rest of the Western world (bar the United Kingdom) has learned a great lesson from the perils of combining a loose monetary system with a burdensome debt."
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