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Thread: House GOP to release budget blueprint that slashes spending

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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by iguanaman View Post
    Or on the other hand the Dems might use it to get the House back when the voters realize that the plan kills Medicare and raises taxes on the middle class to finance more tax cuts for the wealthy. And it will do nothing to reduce the deficit.
    We'll see, but IMO cutting the debt trumps the rest. And to your comments it kills Medicare is a standard liberal taking point that has worn it's self out. I did not see any tax increases for the middle class to finance anything. And last it does reduce the deficit. Now your liberal plan is what?
    Liberals - Punish the Successful, Reward the Unsuccessful
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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by muciti View Post
    Where does the constitution specifically ban them?
    A combination of Article I, Section 9 and the Tenth Amendment; both of which combine to create a system where any power not specifically given to the Federal Government or removed from the States belongs to the STATES, not the Feds.Unfortunately this is the biggest portion of the Constitution that Abraham Lincoln used as toilet paper between 1861 and 1865; thus setting the stage for every President since to do exactly the same.

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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by Rhapsody1447 View Post
    Let's be clear: In Ryan's "draconian, politically impossible" budget the United States won't run a surplus until 2040. The budget that is too radical in it's "unworkable" spending cuts takes a mere 28 years for our budget to be back in the black. The CBO Alternative Fiscal Scenario? Well, by that measure we'll be bankrupt long before we even get there. If we are at this point politically we might as well just give up now and get it over with.

    http://budget.house.gov/UploadedFile...ary_tables.pdf
    We don't have to run a surplus; we just have to get the deficit down to a manageable level. And the idea of passing additional tax cuts with deficits where they are, and with taxes already at a 60-year low, is laughably insane.
    Last edited by AdamT; 03-20-12 at 12:05 PM.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by AdamT View Post
    We don't have to run a surplus; we just have to get the deficit down to a manageable level. And the idea of passing additional tax cuts with deficits where they are, and with taxes already at a 60-year low, is laughably insane.
    I normally side with the Repubs when it comes to fiscal matters... But you are spot on with this. Cutting taxes any more us not the answer. One of the most basic Economic concepts is the Point of Diminishing Returns. If you understand Anything about business, you know that Increasing the price (taxes in this case) does not always make you more money.... Decreasing the price (taxes in this case) does not always make you more money either. Finding the Point of Diminishing Returns is one of the most important items a manager (Congess in this case) needs to do.

    I personally think Spending Cuts (reduction of Costs in the business world) and some tax increases are the way to go.
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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by AdamT View Post
    We don't have to run a surplus; we just have to get the deficit down to a manageable level.
    Unfortunately, what's considered a manageable deficit is not determined by policymakers in D.C. Annual increases in federal debt are only sustainable if they grow at a slower rate than real GDP. Considering this "politically unworkable" budget projects 30 years of annual increases in federal debt, that's a pretty big bet on our ability to produce real growth. The CBO alternative fiscal scenario projects a 15% annual deficit in 2040. Find me someone who would deem that "manageable".

    Quote Originally Posted by AdamT View Post
    And the idea of passing additional tax cuts with deficits where they are, and with taxes already at a 60-year low, is laughably insane.
    What's laughably insane is the failure to address mandatory spending programs that are greater than 100% of tax revenue. What's laughably insane is leaving programs with projected growth rates larger than government revenue untouched. What's laughably insane is justifying any marginal increase in effective tax rates while these fiscally broken programs go on unabated. The fact these cuts are considered radical when they would take 30 years to return to a balanced budget is what's laughable.
    Last edited by Rhapsody1447; 03-20-12 at 12:53 PM.
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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by Chiefgator View Post
    I personally think Spending Cuts (reduction of Costs in the business world) and some tax increases are the way to go.
    So long as they're increases on the 47% +/- of people who currently don't pay anything, i'd be all for it.

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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by Rhapsody1447 View Post
    Unfortunately, what's considered a manageable deficit is not determined by policymakers in D.C. Annual increases in federal debt are only sustainable if they grow at a slower rate than real GDP. Considering this "politically unworkable" budget projects 30 years of annual increases in federal debt, that's a pretty big bet on our ability to produce real growth. The CBO alternative fiscal scenario projects a 15% annual deficit in 2040. Find me someone who would deem that "manageable".



    What's laughably insane is the failure to address mandatory spending programs that are greater than 100% of tax revenue. What's laughably insane is leaving programs with projected growth rates larger than government revenue untouched. What's laughably insane is justifying any marginal increase in effective tax rates while these fiscally broken programs go on unabated. The fact these cuts are considered radical when they would take 30 years to return to a balanced budget is what's laughable.
    I don't disagree with you, but there is no reason to couple taxes and spending the way you seem to want to do, i.e. it's no problem being insane on the revenue side unless we first stop being insane on the spending side. We can't solve this problem without addressing both sides of the equation. Cutting spending while you're cutting revenue is like trying to fill a bucket with a hole in it. So is raising taxes without cutting spending. We need to reform SS and Medicare, cut military spending, and raise taxes. And we can't do anything drastic on any of those fronts in the next two years without endagering the fragile recovery. Sucks, but it is what it is.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

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    Re: House GOP to release budget blueprint that slashes spending

    go through with a fine tooth comb and cut spending.im pretty sure we can save billions by cutting funding to bs projects and redundant regulations.

    increase taxes through silent and untapped means.add a 10% tax on all entertainment electronics nation wide and end all funding for green programs except for research,if they work companies will build them and people will buy them,we dont need government subsidies being spent on an electric car no one buys or solar panels that cost more than any amount they will save on electric.
    “You can lead a horse to water, but it is probably crowded with all those people you taught to fish.”

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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by AdamT View Post
    I don't disagree with you, but there is no reason to couple taxes and spending the way you seem to want to do, i.e. it's no problem being insane on the revenue side unless we first stop being insane on the spending side. We can't solve this problem without addressing both sides of the equation. Cutting spending while you're cutting revenue is like trying to fill a bucket with a hole in it. So is raising taxes without cutting spending. We need to reform SS and Medicare, cut military spending, and raise taxes.
    If you agree with me then you would be repulsed by this administrations complete ignorance of the problem and would deem Obama's FY2013 budget as laughably insane. I focus on the spending side because I recognize the folly in using absurdly optimistic assumptions of future tax revenue. Such as the projections laid out in Obama's FY2010 budget titled "A New Era of Responsibility" which were off by a mere trillion dollars over the next two years. Representative Ryan remains the only sitting politician who has seriously addressed the problem of unsustainable spending programs and has been met with not one serious response from the other side of the aisle. In fact, the Democratic Senate has refused to even pass a budget in over three years. You call Ryan's latest proposal to lower marginal rates and broaden the tax base as being 'insane' on the revenue side despite the CBO grading it as revenue neutral with no increase in economic growth assumptions. However your argument is weak when compared to the spending insanity of the alternatives (or lack thereof). Considering military spending is being cut dramatically and automatic tax increases are already in place for 2013, where is Obama's 'sane' proposals for addressing SS/Medicare? Programs that make up over 40% of our budget? Instead of addressing these problems, Obama has created an entirely new mandatory program whose future outlays are so opaque we can't even predict how large they will be. Sorry, given their ramifications, I won't accept the "rosy" (a whopping $20 billion a year) projections of further increasing the progressiveness of our tax system as a serious form of deficit reduction until they include the necessary reforms to mandatory spending.

    Quote Originally Posted by AdamT View Post
    And we can't do anything drastic on any of those fronts in the next two years without endagering the fragile recovery. Sucks, but it is what it is.
    How about just a plan to deal with them in the future? It sure seems that the President has no problem doing something drastic when it comes to raising taxes and cutting military spending.
    Last edited by Rhapsody1447; 03-20-12 at 03:56 PM.
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

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    Re: House GOP to release budget blueprint that slashes spending

    Quote Originally Posted by Rhapsody1447 View Post
    If you agree with me then you would be repulsed by this administrations complete ignorance of the problem and would deem Obama's FY2013 budget as laughably insane.
    Sadly, the projected deficits from Obama's proposed budget are far lower than the deficits that would result from the proposed budgets of any of the GOP contenders (save Paul, but his would rocket us into a depression). Based on that, I would assume you are supporting Obama's bid for reelection. Yes?
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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