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Sachs Says Democrats, GOP Both `Unrealistic' on Budget

Submitted by ilene on 02/15/2011 13:05 -0400

Here's an excellent video interview with Jeffrey Sachs. H/tip JESSE'S CAFÉ AMÉRICAIN.

Feb. 14 (Bloomberg) -- Jeffrey Sachs, a professor at Columbia University, discusses President Barack Obama's proposed $3.7 trillion budget for fiscal 2012 and the outlook for the global economy. Sachs, speaking with Carol Massar and Matt Miller on Bloomberg Television's "Street Smart," is the author of the book "The End of Poverty: Economic Possibilities for Our Time."

Excerpt: (paraphrasing):

Our politics are driven just by the top. Our leadership doesn't even exist... There are serious problems in this world, like our energy instability, global food instabiity, climate change - our country doesn't even address these. The Republicans systematically say these problems don't even exist. It's a game, pure propaganda... We're cutting the budget on things that are vital to our national security and our international security, like addressing climate. We're stuck in a real game.

I don't approve what either party is saying, because they're both on the take, because all of this is campaign financing games.

Here's Jesse's article on the same video:

Jeff Sachs Comments on the Obama Budget

Bloomberg Television has been airing corporate talking points (euphemism for propaganda) on the proposed US Federal budget all day.

Around 3 PM New York time today Professor Jeffrey Sachs of the Earth Institute at Columbia University came on Bloomberg live to purportedly talk about food costs.

He just left the anchorman Matt Miller yammering and speechless when he was asked about the budgeting process. He did not reach Jon Stewart stature, but as academics go he was quietly and remarkably blunt.

"Laffer Curve is nonsense."

I am looking for a transcript or a video clip of this. It was classic. I doubt he will be invited back. Ever.

OMG I am still laughing at the look on the anchors' faces. Carol Massar was stammering but pink shirted Matt Miller, spokesmodel for the pampered princes of Manhattan, looked like some Bowery bum had just urinated on his motorscooter.

Priceless!

- Jesse

Pic credit: JESSE'S CAFÉ AMÉRICAIN

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Tue, 02/15/2011 - 14:51 | 964254 fragrantdingleberry

Obummer plans to raise 1B to finance his re-election campaign.His Rep challenger will hope to match it. Nuff said.

Tue, 02/15/2011 - 14:49 | 964252 JW n FL

All those lil people will just have to starve... they are too damn expensive to carry! sach's quote

$800 Billion Dollars... TARP

Cost to carry 20% un-employment per month... $2 Billion Dollars

How many years of carry the TARP Bailout of $800 Billion allows for in real people eating expenses... 15 years(ish)

Dont forget the TRILLIONS since then.. TRILLIONS!!!!

Tue, 02/15/2011 - 14:12 | 964076 lynnybee

I just read this on another blog : http://fiatcollapse.blogspot.com/2011/02/endgame-bernanke-zimbabwe-us-dollar-and.html

So is the Stock Market's rise an indication of good times ahead? Not really. Just look at Zimbabwe. It is the result of QE, not organic, sustainable growth. Bernanke wants the stock market to rise, and so he pushes down interest rates by buying Treasuries and prints money. In that process, savers, such as grandmothers that want to live off the interest on their savings, are being robbed. The interest rate on Grandma's savings account is being artificially suppressed by Bernanke. The stolen wealth from grandma is then funneled to Wall Street banks that use computerized programs to speculate in the stock markets. It's theft by clandestine means. But the market rallies, and the gullible people celebrate that all's well... for now. This is awful / our elderly, the very people who for the most part did the correct thing in life, they raised us children, they saved, they paid off their homes, they proudly worked hard all their lives just in the hopes that they could have a few nice golden years with their grandchildren.......... YES, THESE PEOPLE, THE SALT-of-the-EARTH AMERICAN CITIZENS, THE PRUDENT, ELDERLY GENERATION ARE BEING SPAT UPON BY CRIMINALS OBAMA,BERNANKE,GEITNER, blah ! This is the final nail in the coffin for them, deliberately harmed by our own government. Truly, this is the last straw for me, the destruction of the innocent & the elderly. Either I leave the country or I stay here & fight these people who are hell-bent on harming the most innocent among us.

Tue, 02/15/2011 - 14:07 | 964066 falak pema

Slap on the button. Reds are dumb. Blues are smarter as sophists, dumber as activists trying to hang on to political power thanks to Benbernankification. What a double whammy for the US of A.

Tue, 02/15/2011 - 14:28 | 964151 Arch Duke Ferdinand

Do Politicians speak out both sides of their mouths?........

http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/02/do-politicians-speak-out-of-both-sides.html

Tue, 02/15/2011 - 14:22 | 964107 SRV - ES339

What a double whammy for the US of A

USA?

You must have missed the change to CSA (Corporate States of America)... when a member of the Supreme Court is paid (expenses) to attend a four day corporate planning retreat just months before one of the most corporate friendly court decisions in history, it's game on for the EE (props to Turd F)!

Tue, 02/15/2011 - 13:37 | 963940 topcallingtroll

The laffer curve does exist, but where we are on the curve and the exact shape of the curve is unknown.

Tue, 02/15/2011 - 16:23 | 964645 dxj

[The laffer curve does exist, but where we are on the curve and the exact shape of the curve is unknown.]

Hauser's Law strongly suggests that the apex of the Laffer Curve is 20% of GDP, unless the Congress implements Euro-style VAT ... then all bets are off.

http://online.wsj.com/article/SB1000142405274870460810457521787072842018...

Tue, 02/15/2011 - 13:36 | 963938 Flakmeister

It was a great interview...good thing he already has tenure..

Tue, 02/15/2011 - 13:35 | 963937 overmedicatedun...

yep he got it right ..we gotta control global warming right now..LOL this guy has missed the last year of the debunking of the global warming scam..so we should listen to him about anything else? I think not.

Tue, 02/15/2011 - 14:03 | 964031 JimS

You dumb fuck. He didn't say anything about "Global Warming", he talked about climate change, huge difference. The climate of the earth is changing, anyone can see that, and it will change again, and again, and again. That is just part of what this planet is about.The extremes are accelerating, surely you can see that, or maybe you can not. Are humans responsible for the change, no, or maybe a very, very small part. The climate of the earth has changed a huge number of times in the last few billion years, unless you are one of the dumb asses that thinks the earth is only 10,000 years old. If you are one to those people, then there is no fucking hope for you. The point he was making is that there are limited resources on the planet, and as the population continues to increase there's going to be clashes for those resources, period. No way around it, unless there's a large depopulation of the planet, which is entirely possible. Get your head out-of-the-sand, and look at the world as a whole, not just "your little backyard".

Tue, 02/15/2011 - 14:47 | 964239 ElvisDog

Thinking that humans can change global climate change is like a flea thinking he can change the path of the bull he's riding on. The bulk of climate change is driven by changes in the Sun. What's the plan for controlling changes to the Sun?

Tue, 02/15/2011 - 14:21 | 964115 JimS

I figured some "Flat-Earth Society" fuck would junk me. Typical of those who want to keep their head in-the-sand, or up-their-ass.

Tue, 02/15/2011 - 14:36 | 964187 HellFish