What I agreed with was that the economy needs to at least grow inline with population, or things get worse over time. Luckily - in the US, aside from recessions - it generally does.
As to there being an end to it:
The green chart is what happens if we go over the cliff and the Bush tax cuts are repealed in their entirety, and the various sequestration cuts are made. The yellow line is what happens if we just kick the can down the road and do nothing.
Basically - the Bush tax cuts need to be repealed - for everyone, as well as the other cuts that are currently part of the sequestration. The only real question is whether to do it all at once (and throw the economy back into a recession) or lower the US down the cliff gently.
The problem I see is basically, despite attacking the Rich and Corporations on taxes in the Court of Public Opinion, Obama is heading almost exactly along that orange part of the graph. There is no way the Dems are going to be able to compensate for not ending the Bush cuts on the middle class. Even with higher and higher Rich and corporate taxes. So I am curious on how the Dems plan to make that up, or just kick everything down the road. I can see them kicking it, because really no one will be able to see how bad it will get till 4 to 6 years goes by.
Edited by DieChecker, 17 December 2012 - 08:30 PM.