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Thread: Debt Crisis is Worse than we Think

  1. #161
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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Flyersfan314 View Post
    Of course it is worse than we think. The debt ceiling bill basically excluded any meaningful taxation of the rich, the biggest businesses, and Wall Street. They got trillions in bail outs and now they are not even going to be a central part of the economic recovery.

    If ever there were definitive proof staring us squarely in the face that businesses and their cronies are controlling congress, this is it. Our country is on the brink of total financial chaos and still the aristocracy gets to avoid austerity measures.

    Socialize the risk, privatize the profits. The U.S. is already more socialist than China, it's just that we're more into corporate welfare than actually doing things that benefit the public.

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    Re: Debt Crisis is Worse than we Think

    Unemployment rose to around 6.2%. If there wasn't a lot of room for improvement why have the tax cuts promising it would create jobs?

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Flyersfan314 View Post
    Unemployment rose to around 6.2%. If there wasn't a lot of room for improvement why have the tax cuts promising it would create jobs?
    Who was promising that tax cuts would create jobs during a recession? You act like people were saying that tax cuts would make the job market recession proof.
    The reason you don't raise it is not to create jobs, it's to not kick the economy while it's down. You don't want to kill growth. Even Keynesians believe this.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Taylor View Post
    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.
    I'm still not buying your claims. They don't add up

    We had a surplus and debt was at a certain level. I don't remember the #'s off the top of my head, but after 8 years of bush*, this debt had nearly doubled. If it wasn't because of a spending spree, and it wasn't because of decreased revenues due to tax cuts, then how did the national debt nearly double?
    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
    Who was promising that tax cuts would create jobs during a recession? You act like people were saying that tax cuts would make the job market recession proof.
    The reason you don't raise it is not to create jobs, it's to not kick the economy while it's down. You don't want to kill growth. Even Keynesians believe this.
    Bush said that:
    Bush Signs Tax Cut Bill, Dismissing All Criticism - NYTimes.com

    I'm not talking about not raising taxes.

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