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Thread: Debt Crisis is Worse than we Think

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    Re: Debt Crisis is Worse than we Think

    Far left column is tax filings. Middle is income people bring in in those categories. Right column is the effective tax rate (everything you pay in taxes) broken in quintiles then farther broken into percentiles.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Flyersfan314 View Post
    I don't blame Obama for the debt he took on. We were loosing revenue at an extraordinary rate. Drastic have made things spending cuts would have made things worse. I can show you a similar chart form 1936 of what happens when the government makes massive spending cuts in a recession.

    Yes you do give a more practical view above. The tax cuts did not come with spending cuts, just because it didnt happen right away does not mean the tax cuts didnt not cause a deficit increase. We were already running a deficit, tax cuts are irresponsible without the same spending cuts. Yes the decreased revenues were from the recessions.
    Does that mean you think he's doing a good job and that you'd like him to continue with the program for another four years?

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    Re: Debt Crisis is Worse than we Think

    He is better than the Republican candidates. He is not politically savy and has trouble getting through the programs he wants to pass. Republicans solution i to keep cutting taxes and spending. That will make the problem worse.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by sangha View Post
    It's not adding up. During bush*, the deficits soared, but you say it's not because of increased spending or tax cuts. Here's another way to look at it

    CBO Data Show Tax Cuts Have Played Much Larger Role than Domestic Spending Increases in Fueling the Deficit — Center on Budget and Policy Priorities

    That figure is taken from a Jan 2005 piece by the left wing cbpp. The pie chart is their predicted breakdown for 2005.
    They claimed the tax cuts would balloon the deficit to the tune of $569.
    They were way off - the deficit ($319) came in well below their predictions and those of the CBO.
    CBO Data Show Tax Cuts Have Played Much Larger Role than Domestic Spending Increases in Fueling the Deficit — Center on Budget and Policy Priorities

    They posted a followup artricle the next year insisting that the drop in the deficit was not due to strong growth, but from temporary factors. The economy of course continued to grow at an impressive rate for another couple of years. So, people don't take cbpp predictions too seriously.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Flyersfan314 View Post
    He is better than the Republican candidates. He is not politically savy and has trouble getting through the programs he wants to pass. Republicans solution i to keep cutting taxes and spending. That will make the problem worse.
    Forget abut the Republicans for a moment, please.

    Do you feel Obama is doing a good job and deserves another four years?

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    Re: Debt Crisis is Worse than we Think

    If FDR or Clinton was running no I don't think he deserves another four. I don't think anyone who is running right now (including Obama) should be President. I will vte for him because he is the best option.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Flyersfan314 View Post
    If FDR or Clinton was running no I don't think he deserves another four. I don't think anyone who is running right now (including Obama) should be President. I will vte for him because he is the best option.
    So you view him as the best available person to be President of the United States. Thanks for that. I was just curious as to the why.

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    Re: Debt Crisis is Worse than we Think

    If you want I could PM or start another topic. But its OT here.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by sangha View Post
    But bush* tax cuts didn't result in a huge surge of revenue

    Historical Federal Receipt and Outlay Summary
    How do you figure?
    The increase between 2003 (16.2) and 2007 (18.5) was 2.3% of GDP.
    That's the highest 4-year increase since 65-69.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Taylor View Post
    That figure is taken from a Jan 2005 piece by the left wing cbpp. The pie chart is their predicted breakdown for 2005.
    They claimed the tax cuts would balloon the deficit to the tune of $569.
    They were way off - the deficit ($319) came in well below their predictions and those of the CBO.
    CBO Data Show Tax Cuts Have Played Much Larger Role than Domestic Spending Increases in Fueling the Deficit — Center on Budget and Policy Priorities

    They posted a followup artricle the next year insisting that the drop in the deficit was not due to strong growth, but from temporary factors. The economy of course continued to grow at an impressive rate for another couple of years. So, people don't take cbpp predictions too seriously.
    According to the chart at the following link (there's a table you can plug date ranges into) the growth in GDP was not "impressive"

    United States GDP Growth Rate
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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