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Thread: Debt Crisis is Worse than we Think

  1. #151
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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Grant View Post
    Forget abut the Republicans for a moment, please.

    Do you feel Obama is doing a good job and deserves another four years?
    When considering who to vote for, comparisons to the opposition are appropriate. Often, it is required
    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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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Taylor View Post
    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.
    The increase was a result the recovery from the dotcom bust and the inflation of the real estate bubble. In other words, you're looking at a trough to peak.

    Hell, even Bush's tax guru doesn't claim that tax cuts pay for themselves. It's quite clear that they don't unless they are narrowly targeted.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Taylor View Post
    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.
    How do you figure that being a huge surge? Just because it was larger than small increases in earlier years does not make it huge.
    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..

  4. #154
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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Flyersfan314 View Post
    The tax cuts clearly reduced revenue and should have been repealed. They happened a very short time before the recession and did not create many jobs.
    Clearly not.

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    Re: Debt Crisis is Worse than we Think

    Anybody ever realize that if the US defaults quite possibly the price of gold will sky rocket. And if the price of gold hits roughly 5k per oz the US has no more debt because of the gold reserves. Now our credit rating would be ruined and the world would be put into a depression so I do not think it would be worth it.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by sangha View Post
    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
    Comparing it to the years before the tax cut was put in place - we went from a very sluggish period back to business as usual.
    But yes, if you're comparing it to the turnaround under Reagan, it wasn't as impressive.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by AdamT View Post
    The increase was a result the recovery from the dotcom bust and the inflation of the real estate bubble. In other words, you're looking at a trough to peak.

    Hell, even Bush's tax guru doesn't claim that tax cuts pay for themselves. It's quite clear that they don't unless they are narrowly targeted.
    Well, duh. Of course it was a recovery. That's what the tax cut is supposed to do - spur growth. The real estate bubble was building since the mid 90's.

    No supply side economist will say that tax cuts always pay for themselves.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by sangha View Post
    How do you figure that being a huge surge? Just because it was larger than small increases in earlier years does not make it huge.
    If you don't like "huge" substitute "historical" or "extremely rare rate of growth not seen in 40 years" or "the first medium sized increase in 40 years of slow growth"

    Whatever floats your boat.

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    Re: Debt Crisis is Worse than we Think

    What growth? 3mil jobs created. That was horrible not including the recession.

  10. #160
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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Flyersfan314 View Post
    What growth? 3mil jobs created. That was horrible not including the recession.
    Growth in revenue. There wasn't a lot of room for improvement on the job front, it being around 4.5% unemployment.

    Now, 9.5% unemployment and negative job growth two years into a recovery -- THAT'S horrible.
    Last edited by Taylor; 08-01-11 at 03:34 AM.

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