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The economy is about sustainability, not about austerity, and spending

Our nation and our enterprises, both private and public are about the business of optimizing return on national resources to ensure a good life for all citizens. It is about operating with rules and a balance of consequences that encourage self-sustainment and self-determination.

So far away from addressing sustainable economics
James George

Surely, some people will achieve higher levels of success than others based upon their natural ability, their start up condition, and luck if nothing more.

The objective is to ensure that responsible citizens are secure in their living to the best level possible based upon their work ethic.

There are exceptions by which some people become disabled or hampered by uncontrollable circumstances. Society must cover those circumstances with set aside resources to ensure their good life by assisting them.

There are exceptions by which some people break laws and otherwise cheat the system. When caught, they must be punished and guided toward acceptable behavior and performance. When that is not possible after reasonable effort, incarceration is the last resort. When people harm or take the life of others, punishment must be severe to the extent of permanent incarceration.

Now, the American political system and government have worked to improve the lives for as many citizens as possible. However, poverty remains and the system is deficient. The financial planning actuaries have failed to accurately address the needs of the nation. Foreign policy that drives national defense has accrued high cost without sufficient return.

The mix of people working for government and private enterprise has become too skewed toward government dependency.

Congress and the President have failed to address the economic model that will ensure sustainability. That must begin with renewable energy policy and strategy. An initiative is required to recalibrate American values such that we balance between the pursuit of wealth with social and environmental responsibility. That should be the discussion.

Labeling performance as being too austere or too liberal in spending misses the point. What is needed to ensure economic sustainability in America today and for future generations?

“Have we been living in an age of austerity?

February 21 at 3:47 pm

A number of readers and conservative commentators today have argued that I was wrong to describe the past several years as an age of austerity in the United States. Chuck Blahous, a well-known conservative economist, writes this morning:

Since 1947 the four largest deficits run by the US government, as a percentage of the economy, were in fiscal years 2009, 2010, 2011 and 2012—the first term of the Obama Administration. These deficits ranged in size from 6.8 percent to 9.8 percent of GDP. The previous annual record was 5.9 percent in 1983.”

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