On Nov 25, 2012, at 4:44 PM, Doug Henwood wrote:
>
> On Nov 25, 2012, at 2:54 PM, Jordan Hayes <jmhayes at j-o-r-d-a-n.com>
> wrote:
>
>> Maybe he was sanguine about it because there's zero chance that
>> we'll have "indefinite 5%-of-GDP deficits" and because no one is
>> suggesting we will?
>
> The CBO is, more or less. Galbraith rejects the projections because,
> basically, "no way."
He rejects them because they are derived from contradictory premises about economic and expenditure growth. Therefore invalid by definition, ie., "no way." The CBO is nothing but bipartisan bullshit, always has been always will be.
>
Shane Mage
This cosmos did none of gods or men make, but it
always was and is and shall be: an everlasting fire,
kindling in measures and going out in measures.
Herakleitos of Ephesos