"On the USA deficit, I have been somehow surprised that you seem to subscribe to the lower expenditures as oppose to higher taxes.
"From what I read and what has happen in Europe tightening up since we are experiencing a very weak recovery, could possible hurt more than help. On the other side of the remedy we have opinions ( Wolf FTimes /Joseph Stiglitz on inequality and growth ) Also a comp of USA taxes with the rest of the world does not show a hi taxation. Above and beyond the 08 mess which the abuse, greed of the financial industry caused the deficit was partially caused by Bush tax reduction in the face of his wars.
"Granted the growth option is the best way to get out of the problem, that will take time. It seems to me that in spite of the data that shows that the Reagan/ Laffer trickle down econ does not work. The politicians keep promoting it. Look at the income growth charts, middle and lower income have not grown in 20 years
"1-2 million dollar earners still buy what they need with a little less expendable income. Innovators do not do it for the money. Plus seed money is plenty for good ideas, so is the opinion of Silicon Valley. The health expenditures will have to be dealt with. That is a separate item.
"Would like to have your opinion, like everyone I may just been filtering the data that fits my beliefs."
David Fuller's view Thank you for an interesting email.
The world would be better off, in my opinion, with a thriving, dynamic US economy. We do not have that currently and I remain very concerned about America's runaway government debt.
This started to increase rapidly when George Bush was president but I think any US president would have had to invade Afghanistan following 9/11. The President's invasion of Iraq shortly after Afghanistan was a step too far for the US economy, and Bush lost credibility and support when no nuclear weapons were found.
I also share a number of your views, but the question is how do we get there? The US economy does need a higher tax return from wealthy citizens, in my opinion, which I believe Mitt Romney would have achieved by closing loopholes, although he was vague about the details of which loopholes before the election, for understandable reasons.
However, I do not think that an ever expanding welfare state is in any country's long-term economic interests, let alone those of the USA. If we look at US history over the last century, the country was a sanctuary for oppressed people who sought political freedom and economic opportunity.
There is much that I do not like about the Republican Party today, which is a far cry from President Eisenhower's vision and achievements. Nevertheless, I thought that Mitt Romney had a chance of growing the economy out of its rapidly developing government debt trap. I am not sure that President Obama cares about or perhaps even understands the risks to GDP growth caused by a ballooning government deficit, which is a huge tax on future generations.