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And please don't call me -- Surely.
All the the news to put you in fits
To prove his point Krugman presents the following annual rate of growth of real revenue per capita over some cycles:
1973-1979: 2.7%
1979-1990: 1.8%
1990-2000: 3.2%
2000-2007 (probable peak): approximately zero
Then he asks, "Do you see the revenue booms from the Reagan and Bush tax?" And responds, "Neither do I."
So why then do we think that the current bailout is going to work? Sure, we keep the banks from collapsing for the time being, but if the bailout doesn't trickle down to the average home owner, consumer, borrower aren't we just staving off what we have seen coming for the last eight years?
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