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Thread: Worst day since 2008 financial crisis

  1. #41
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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Conservative View Post
    You don't have a problem with the govt. over taxing its people so as to have a surplus? How about never spending more than you take in? If you have a surplus the govt. is keeping more taxpayer money than it uses.
    Yes it would be taking in more then it uses for that year.

    So when the economy hits a slowdown, instead of borrowing money and going into debt the government can use the money built from the surplus's to fund it operations
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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Lord Tammerlain View Post
    Yes it would be taking in more then it uses for that year.

    So when the economy hits a slowdown, instead of borrowing money and going into debt the government can use the money built from the surplus's to fund it operations
    How does anyone know what those obligations will be met by the surplus? It really isn't the role of the govt. to keep more than it needs for operation so it should refund the surplus then ask the taxpayer to fund any shortfall. that is the mistake our politicians make here all the time.

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    Re: Worst day since 2008 financial crisis

    The government doesn't necessarily need to run a surplus. It just needs to maintain a reasonably low debt level during good times so that we don't find ourselves in situations like this one when the wheels temporarily come off.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by AdamT View Post
    The point is that the money would not be in the economy but for the government's spending. It is borrowed.
    That is your theory. People will spend their money on their own. They always have.

    Let's use your individual analogy:

    Say you are hit by an uninsured motorist while crossing the road and you don't have disability insurance. You can't work because of your inuries and probably won't be able to for a year or two. But fortunately you have very good credit and you can borrow enough to get you through that time which will allow you to keep paying your bills and your rent. What do you do?
    I use my uninsured motorist insurance.

    Do you say that borrowing would be irresponsible and thus not pay your bills and start living on the street? Even if not paying your bills and living on the street will have a severe impact on your future job prospects and your ability to borrow in the future? I don't think so.

    I think what you do is take your lumps and over the course of the next year, you develop a plan to pay back the loans over time.
    We took out the loans but never got the money.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Conservative View Post
    How does anyone know what those obligations will be met by the surplus? It really isn't the role of the govt. to keep more than it needs for operation so it should refund the surplus then ask the taxpayer to fund any shortfall. that is the mistake our politicians make here all the time.
    So that it could raise taxes during an economic slowdown to pay for its operations? Not something I would suggest. Building a surplus that can be used during economic slowdowns is a much better idea then raising taxes during an economic slowdown in my opinion. Heck it is a policy I would suggest for everyone and business, build a rainy day fund for bad economic times
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    Re: Worst day since 2008 financial crisis

    That is your theory. People will spend their money on their own. They always have.
    It is a fact, not a theory. The government borrowed money and pumped it into the economy. If it hadn't that money would not be in the economy.

    I use my uninsured motorist insurance.
    You dont' have uninsured motorist coverage in this analogy. You spent that money on tax cuts and wars.

    We took out the loans but never got the money.
    No, you got the money. It just wasn't sufficient to maintain your former lifestyle at 100%.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Lord Tammerlain View Post
    So that it could raise taxes during an economic slowdown to pay for its operations? Not something I would suggest. Building a surplus that can be used during economic slowdowns is a much better idea then raising taxes during an economic slowdown in my opinion. Heck it is a policy I would suggest for everyone and business, build a rainy day fund for bad economic times
    Don't think we have to worry about that in this country. Unlike Businesses and states the Federal Govt. here can just print money and that is what they are doing. Politician are like crack addicts who cannot get away from their addiction to spending and thus keeping their jobs.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Jetboogieman View Post
    Market Report - Aug. 4, 2011 - CNNMoney



    If the economy flops now, it won't get back up.
    The economy flopped three years ago. It's been flopped, ever since.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by apdst View Post
    The economy flopped three years ago. It's been flopped, ever since.
    Actually it was four year ago, but who's counting.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by AdamT View Post
    It is a fact, not a theory. The government borrowed money and pumped it into the economy. If it hadn't that money would not be in the economy.
    Unproveable theory.

    You dont' have uninsured motorist coverage in this analogy. You spent that money on tax cuts and wars.
    But I do. I planned ahead.

    No, you got the money. It just wasn't sufficient to maintain your former lifestyle at 100%.
    No we did not get the money which is why those who support what the government did is bitching about Wall Street not hiring. They took the money and pocketed it.

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