This is why journalists and analysts annoy intelligent people. They modify their arguments to fit the topic of the day so they can win the argument of the day. Steve Liesman is an intelligent man, for sure. He is also intelligent enough to spin his words so that he appears to be right, all of the time. It is also extremely annoying when he applies economic theories that are irrelevant in a new world global economy. Of course we can take learn from these theories and apply them where appropriate but Steve leans on them too often to make himself appear right when in reality it would take a room fool of economists months to never finish the argument as to which theory is right or wrong.
The US economy is beyond unstable. The global economy is beyond unstable. There is no right answer. To spend or not to spend, that is the question.
I will give you the real solution.
1. Hire a few hundred volunteers / retired CFO's to find fraud waste and abuse in government spending.
2. Get rid of Unions
3. Get some journalists to cover politics like TMZ covers hollywood