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Thread: US Debt Could Double in 25 Years With Current Policies

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Eighty Deuce View Post
    You had earlier praised FDR on his banking policies, and I only commented that he had done some banking things not worthy of praise as well.
    And my response continues to stand: How does a transition period within a crumbling banking sector negate the fact that Glass-Steagall provided stability to the financial system? Do you agree? If not then please explain.
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US Debt Could Double in 25 Years With Current Policies






















    How many times can we say it? How many different ways? Jobs should be the primary concern. Only through economic growth can we fix the debt/deficit problem. If we continue contractionary policy, we will double the debt quickly.

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Kushinator View Post
    And my response continues to stand: How does a transition period within a crumbling banking sector negate the fact that Glass-Steagall provided stability to the financial system? Do you agree? If not then please explain.
    And my now confirming that you are a liar in this thread stands. I never addressed G-S. Not once. I have now documented it multiple times. Is it so hard for you to admit you made a wrong assumption ?

    Is it worth you lying about here ?

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Eighty Deuce View Post
    And my now confirming that you are a liar in this thread stands. I never addressed G-S. Not once. I have now documented it multiple times. Is it so hard for you to admit you made a wrong assumption ?

    Is it worth you lying about here ?
    I mentioned Glass-Steagall:
    Quote Originally Posted by Kushinator View Post
    Nonsense. Nearly half of all banks in the U.S. failed before 1933, when FDR was sworn into office. One of his firsts initiatives, known as the Banking Act of 1933 actually put in place a regulatory framework that increased confidence in a (at that time) failing banking sector.

    to which you respond with:
    Quote Originally Posted by Eighty Deuce View Post
    His actions with the banks when he first took office undermined confidence in them. However, some seem caught up in semantics. My argument is that FDR made things worse.
    And yet nothing you have stated substantiates your position. Your argument is incoherent.
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Eighty Deuce View Post
    Except now, with Obama, it starts all the way at the top. His platform is class warfare. He is unfit to command.

    Romney, agree or disagree with his politics, is not the assclown Obama is. Neither was W.
    Regardless of your personal opinion or who is elected President in November, I do not see the high degree of partisanship in Congress being resolved until our government lets things lapse so much that the American people break out in open revolt. We've seen signs of this with the Tea Party rallies and now we are seeing further signs of it with the Occupy movement. Regardless how much Congress things ignoring things will make them go away, smart people know that the problems facing our nation will only worsen over time. In the end, the American people will riot like they did in the Sixties.

  6. #106
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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Rising Sun View Post
    Regardless of your personal opinion or who is elected President in November, I do not see the high degree of partisanship in Congress being resolved until our government lets things lapse so much that the American people break out in open revolt. We've seen signs of this with the Tea Party rallies and now we are seeing further signs of it with the Occupy movement. Regardless how much Congress things ignoring things will make them go away, smart people know that the problems facing our nation will only worsen over time. In the end, the American people will riot like they did in the Sixties.
    Riots are not necessary to accomplish a change, our debt is mounting, and you would have to have your head in the sand to not understand we are going broke. Hopefully the American people understand this and are willing to do something about it before it's too late. The problem I see is the people love government to provide for them regardless of what it cost the tax payer.
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Born Free View Post
    Riots are not necessary to accomplish a change, our debt is mounting, and you would have to have your head in the sand to not understand we are going broke. Hopefully the American people understand this and are willing to do something about it before it's too late. The problem I see is the people love government to provide for them regardless of what it cost the tax payer.
    Agreed on all points, but history shown that our Congress are slow to act until forced to act. They worry too much about reelection instead of doing the jobs they've taken an oath to do. Rallies and demonstrations may do the trick, but if that does't force our Congress to do what is right, to do their jobs and make the tough decisions, even if their constituents don't like it, then it may very well come down to riots.

    Look at Greece. They will be leading the way.

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by AdamT View Post
    No, essentially they're saying they will downgrade if the teabagger Congress continues to refuse to negotiate, indicating that wer're in for at least another two years of ungovernable stupidity.
    So you are saying that if Obama sends through another trillion plus deficit for 2013 and years thereafter Fitch will be fine with that?

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by AdamT View Post
    No, essentially they're saying they will downgrade if the teabagger Congress continues to refuse to negotiate, indicating that wer're in for at least another two years of ungovernable stupidity.
    I do not believe their report said anything of this kind.

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by washunut View Post
    So you are saying that if Obama sends through another trillion plus deficit for 2013 and years thereafter Fitch will be fine with that?
    I'm saying that Fitch wants to see a long-term plan that addresses structural deficits, and just as importantly, they want to see evidence that our government isn't completely disfunctional. I think they understand that we will have to run significant deficits for the next few years.
    "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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