If you make 1.2 trillion in spending cuts, the deficit will be eliminated, the rich will be able to continue getting richer at an even faster pace, GDP will increase at a faster pace. Per capita GDP will increase... this is the economic theory of the free market capitalists, and I agree with the assessment.
But... As a result of massive cuts in social services, health care, housing and education, half (maybe 47%) of the country will be living in poverty and facing homelessness and starvation. Of course, MJ is "sure" that won't happen, as those rich people will surely let their new wealth trickle down, saving the masses.
He's sure they will.
Because he's an optimist.
And because he is very very good at ignoring historical and current indicators that money does not "trickle down" as he claims it will.
Edited by tonton - 11/14/12 at 10:16pm