In sensational news that is just now beginning to receive the attention it deserves, the Congressional Budget Office, after careful and thorough analysis, has concluded that, yes, full employment would cut the U.S. budget deficit!
Ned can only imagine the intellectual firepower of that team of giants. Let's see: virtually no unemployment means few people without health care so few bankruptcies. Nobody loses their houses. State budgets are all in the black 'cause nobody is drawing food stamps and unemployment checks, not to mention Medicaid. Governments stop laying off city and state workers. People are working longer so fewer are taking early retirement and sucking on the Social Security teat. People are paying more taxes, in short, and demanding fewer gummint services.
The stock market is high because people have confidence in the future. Everybody's 401k is doing fine. Kids get their orthodontics, so they smile more, and get to go to their soccer camps and cheerleading camps, to prepare them for a life of running for public office (think Kay Bailey Hutchison, George Bush and Rick Perry, for which the country is understandably grateful).
Now, let the CBO sit back and wait for the Nobel Economics Committee to take notice!
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