Eric Cantor is grilled by a CNN Money reporter at the World Economic Forum. Here is yet another video created during the Word Economic Forum. With so many world leaders and economic experts all in one place talking about the same issues, this Forum seems to recent buzz in economics.
Cantor talks about plans to balance the federal budget in 10 years. He explains the accounting that goes into these goals in regards to the baseline adjustment. He emphasizes we need to control the budget in order to see long term growth. Politics seem to be the restricting factor in budget cut implementation.
Do you believe austerity is the answer or should we keep spending? Cantor sees spending as THE PROBLEM and even uses the metaphor of America "digging the hole deeper" by restricting cuts on government expenditure. Where do you fall in this argument? If spending isn't the enemy, what do you think is? Everyone can agree that we want to see growth, but how do you believe we can get there?
I think that the biggest problem here is how leaders fall on one side of the fence or the other. It is a question of your fundamental economic beliefs which lead you towards either spending or cuts. At this point it seems impossible to prove one side or the other wrong. I'd like to believe that our economy will be better with either option, but I do share the worry that if we chose the wrong path, the damage could be catastrophic.
ReplyDeleteI agree with Travis, because it won't be easy to choose between austerity or to continue spending because we ultimately can't predict the result of either change.
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