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Thread: Debt ceiling cost to taxpayers: $1.7 billion

  1. #101
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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by Conservative View Post
    Do you think your paycheck is an expense to the govt? You keep saying that tax cuts have to be paid for. Where did you learn that? Tax cuts are a benefit to the taxpayer by allowing them to keep more of what they earn. They aren't a line item expense thus don't have to be paid for as only expenses have to be paid for.

    Obama has spent record amounts over the past two plus years and is about to make it 3 years in a row. This nation is broke and has to cut spending. Cutting spending doesn't hurt the private sector and that is where the economy has to grow and create jobs.
    You're arguing semantics -- I'm talking about accounting. If you want to maintain a reasonable account balance you have to offset lower revenue with lower spending, i.e., pay for tax cuts.

    And yes, cutting spending absolutely hurts the private sector. What do you think happens to that money the government spends? It gets paid to private contractors, doctors, hospitals, and all the rest. Even if it's paid directly to a government worker, that worker uses it to buy groceries and pay his car note and to buy school supplies.

  2. #102
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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by AdamT View Post
    You're arguing semantics -- I'm talking about accounting. If you want to maintain a reasonable account balance you have to offset lower revenue with lower spending, i.e., pay for tax cuts.

    And yes, cutting spending absolutely hurts the private sector. What do you think happens to that money the government spends? It gets paid to private contractors, doctors, hospitals, and all the rest. Even if it's paid directly to a government worker, that worker uses it to buy groceries and pay his car note and to buy school supplies.
    Spending should have everything to do with revenue and if you believe revenue is going to drop then stop spending. Either way tax cuts aren't an expense thus don't have to be paid for.

    As for govt. spending, you really need to learn the four components of GDP and what each contributes. there aren't any spending cuts in this POS legislation because all it does is cut the rate of growth of spending. Remember divide the so called savings by 10 and then apply that to the inflated budget we have now. That isn't a spending cut.

  3. #103
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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by Redress View Post
    So you really do not know how interest payments work? Hint: they happen more than once.
    No, just amused that you are trying to make some point about interest, but but don't seem to understand how it would impact things.

  4. #104
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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by Redress View Post
    Historically, democrats. All evidence points to that being the case now.
    That is incorrect. All evidence does not point to that being the case. Case in point, evidence points to Republicans in congress potentially being more fiscally responsible then democrats or a split congress.

    I'm not suggesting one side definitely is or isn't better, but its pure sophistry to try and suggest that "ALL" evidence points to one side being more fiscally responsible. That applies only if one cherry picks their evidence.

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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by AdamT View Post
    it is not fiscally responsible to cut spending when the economy is in recession, or teetering on the edge of one.

    Obama praises debt deal votes - WJBC - The Voice of Central Illinois

  6. #106
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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by AdamT View Post
    Brilliant. Thank you, teabaggers! They can also reimburse us for the massive market drop that was caused by their incredibly irresponsible stunt.
    nObama should reimburse us the 4.1 trillion that he spent in 2 1/2 years without any results. Thank you nObama!!
    Catch me if you can.

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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by The Prof View Post
    vote obama, 2012!

    this is a WAR!

    there is an ENEMY!

    etc

    LOL!
    do we mark you as
    a)merely uniformed
    b) naive
    c) playing ostrich hiding from reality
    d) all of the above

    ?????
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    uniformed?

    LOL!

    did you know that proportionately MORE members of the tea party caucus (23 to 17) voted FOR the compromise than the exactly 50% of dems who did so in the house?

    http://clerk.house.gov/evs/2011/roll690.xml

    how dare all those congress people play politics with the full faith and credit, holding the entire world economy hostage

    voting AGAINST compromise and FOR default...

    party on, progressives

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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by haymarket View Post
    do we mark you as
    a)merely uniformed
    b) naive
    c) playing ostrich hiding from reality
    d) all of the above

    ?????
    Right, the Obama results are so spectacular that he deserves another 4 years. After all there are only 24 plus million unemployed or under employed Americans, the debt has surpassed the debt ceiling, economic growth was a strong .4% and 1.3% first and second qtr 2011, spent over 800 billion on a stimulus program that helped generate these numbers so what is there not to be proud of. I will certainly consider voting for him in 2012

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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by Conservative View Post
    Right, the Obama results are so spectacular that he deserves another 4 years. After all there are only 24 plus million unemployed or under employed Americans, the debt has surpassed the debt ceiling, economic growth was a strong .4% and 1.3% first and second qtr 2011, spent over 800 billion on a stimulus program that helped generate these numbers so what is there not to be proud of. I will certainly consider voting for him in 2012
    Yep and its ALL Obama's fault right?


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