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Thread: Debt Crisis is Worse than we Think

  1. #21
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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Flyersfan314 View Post
    cpwill you are wrong. The government needs to spend money, no one else is doing it.
    gosh I wonder why - where did all the money go?

    oh yeah. it got sucked into treasury bonds.

    [quote]You want to cut spending not because of economic factors but because it furthers your social agenda of less government, the economy be damned. ]/quote]

    that is incorrect. both times in the last century that the government slashed spending as a response to economic turmoil it was rewarded with booms. in contrast, over the last 40 years, in every single OECD nation, the "stimulus" packages that have been dependent on increasing transfer payments have been the ones that have failed (the success stories generally included cutting business taxes).

    We are a consumer economy, we don't produce enough, if someone doesn't spend the economy will never recover, it will just keep getting worst.
    demand is a function of supply. you won't fix the one till you've worked on t'other.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Aunt Spiker View Post
    The horrible thing is: getting out of a recession requires everyone, pretty much, to fall further into debt - country and mankind alike. This is what we've built for ourselves.

    If you have to interest rate your ass out day and night are you really climbing out of a recession or postponing the inevitable?
    That's the craziest thing I've ever heard.

  3. #23
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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by Flyersfan314 View Post
    cpwill you are wrong. The government needs to spend money, no one else is doing it. You want to cut spending not because of economic factors but because it furthers your social agenda of less government, the economy be damned. We are a consumer economy, we don't produce enough, if someone doesn't spend the economy will never recover, it will just keep getting worst.
    Less government intrusion will be good for the economy. There's no cash flow, because of all the government intervention in the private sector. Obamacare killed cash flow, because corporations still don't have a clue how much it's going to cost.

    The promise of more regulations that cost more money and higher taxes isn't going to encourage private companies to spend money.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by cpwill View Post
    both men made the same error, and trusted Congressional Democrats to actually make good on their promises to cut spending in proportion to the tax increases. Both got hoodwinked because no, when they pretty promise that this time they really mean to stop spending, they aren't trustworthy.
    Is the "mistake" you're referring to the fact that the economy expanded after the tax increases?

    That would make sense because, based on the results, republicans prefer to destroy the economy for political gain

    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 cpwill View Post
    this is incorrect. SS Started running a deficit in 2010, and the CBO says it will continue to do so every year from here on out.
    SS has contributed billions towards reducing our deficits and debt. And the CBO has not projected that. You're spinning



    you'll get no arguments from me that Republicans screwed the pooch. but that doesn't excuse Democrats cutting said pooch's head off.
    Actually, it's not just republicans. It's the entire rightwing. They were all silent about the runaway spending when republicans are in the white house. The dems at least worked towards reducing the deficits.
    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 sangha View Post
    Is the "mistake" you're referring to the fact that the economy expanded after the tax increases?

    That would make sense because, based on the results, republicans prefer to destroy the economy for political gain

    All this spin is making me dizzy!

    Can anyone on the Left explain why the Democrat plan isn't working? Is it Bush's fault?

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by sangha View Post
    That book explains exeactly what is going on. This crisis is nothing but a show
    Nonsensical conspiracy theories belong in the conspiracy theory subforum. It's absurd to think that all the crises of the last three decades have been manufactured to lead us to precisely the point we are at now. One should always assume cock-up before conspiracy.

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    Re: Debt Crisis is Worse than we Think

    Quote Originally Posted by sangha View Post
    SS has contributed billions towards reducing our deficits and debt. And the CBO has not projected that. You're spinning





    Actually, it's not just republicans. It's the entire rightwing. They were all silent about the runaway spending when republicans are in the white house. The dems at least worked towards reducing the deficits.
    Social security was never intended for that. Now, it's running short and we need to go into debt to prop it up.

    Looks like robbing Peter to pay Paul isn't working too well.

  9. #29
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    Re: Debt Crisis is Worse than we Think

    IMO, the US is going to default on its debt sooner or later (Dagong is likely to downgrade US rating | Business | chinadaily.com.cn) (News Headlines)

    "And in the end, we were all just humans, drunk on the idea that love, only love, could heal our brokenness."

  10. #30
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    Re: Debt Crisis is Worse than we Think

    If either side of this debate was honest it would acknowledge:

    a) we can't continue on this trajectory of deficit spending.

    b) when we do cut back on spending it will have an adverse effect on the economy short term.

    When you look at the deficits the U.S. has built up over the last thirty years. By debt look not only to Federal government but also personal, state and local as well as the current account deficit ( import more than export). This piling on of debt has allowed the U.S. standard of living to grow beyond what we were earning.

    So the overall standard of living has to come down. We are seeing that now as headline inflation outstrips salary inflation. We see it in having the Fed keep interest rates at an effective negative return ( two year treasury rate minus inflation). What politician is willing to essentially commit suicide by saying that the standard of living has been artificially high and will have to come down.

    The game of living beyond our means has finally caught up with the overall American economy.

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