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Thread: Economy in U.S. Grows at 1.5% Rate

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    Re: Economy in U.S. Grows at 1.5% Rate

    If "economic growth" is fueled by excessive debt, whether consumer debt or federal debt, then we don't need economic growth right now. We need to come to our sense as a nation and stop relying on systemic imprudence to maintain our economic expectations.


    Consider my signature.
    Last edited by Neomalthusian; 07-30-12 at 03:13 AM.

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by upsideguy View Post
    Yep, time to return to the economics of 2001. Time to do it all over again.... cut taxes, start wars, increase "defense" spending and run up the deficits. Yeah, there is a good alternative for ya.

    How about we CUT spending? How about we PASS A BUDGET? How about we cut EVERY govt agency by at least 10%? How about we tighten the govt TAX AND SPEND belt? That, IMO, would be a starting point.

    Anyone that believes that "taxing the rich will" bail the countries water is dumb as a rock. The amount we'd get wouldn't pay interest on our national debt for a week.
    "Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy; it's inherent virtue is the equal sharing of misery." Winston Churchill

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by Neomalthusian View Post
    If "economic growth" is fueled by excessive debt, whether consumer debt or federal debt, then we don't need economic growth right now. We need to come to our sense as a nation and stop relying on systemic imprudence to maintain our economic expectations.


    Consider my signature.
    You seem to be operating under the false premise that imprudently cutting spending when the economy is weak actually reduces the debt.

    http://online.wsj.com/article/SB1000...202287278.html
    Last edited by AdamT; 07-30-12 at 12:48 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: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by AdamT View Post
    You seem to be operating under the false premise that imprudently cutting spending when the economy is weak actually reduces the debt.

    U.K. Stumbles, Fueling Austerity Debate - WSJ.com
    Much like the imprudent assumption that one must work to provide housing, food and clothing for their family. If the libtards are in charge you simply raise taxes, borrow money and buy votes. When that gov't spending reaches 25% of GDP then things start to slow down. Yes they did!
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by ttwtt78640 View Post
    Much like the imprudent assumption that one must work to provide housing, food and clothing for their family. If the libtards are in charge you simply raise taxes, borrow money and buy votes. When that gov't spending reaches 25% of GDP then things start to slow down. Yes they did!
    And when the republitards are in charge you simply cut taxes (buy votes), borrow money, and spend more (buy more votes). The best situation often involves a split between the parties, e.g., Reagan and Clinton. Of course that takes compromise to work, and we know that's a dirty word in Republican circles.
    "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: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by Billy the Kid View Post
    How about we CUT spending? How about we PASS A BUDGET? How about we cut EVERY govt agency by at least 10%? How about we tighten the govt TAX AND SPEND belt? That, IMO, would be a starting point.

    Anyone that believes that "taxing the rich will" bail the countries water is dumb as a rock. The amount we'd get wouldn't pay interest on our national debt for a week.
    You aren't listening to what your candidate is saying? he is saying pretty much I told you: cut taxes, start wars, increase the "defense" budget, which will run up deficits even more. If your think the Regressives are serious about balancing the budget, I've got a bridge to sell you. In fact, the debt has been run up far more by Republicans than Dems, as you know.

    BTW... any economist that has looked at the deficit seriously has suggested its a many faceted approach that includes tax hike and spending cuts (including cutting the largest discretionary spending line item: "defense") You can not 'spend cut' your way to balanced budget. If you aren't willing to raise taxes and cut the pentagon (as well as other things), you aren't serious about a balanced budget. Anyone that believes otherwise is, as you put, dumb as a rock.
    Last edited by upsideguy; 07-30-12 at 08:21 PM.

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by upsideguy View Post
    You aren't listening to what your candidate is saying? he is saying pretty much I told you: cut taxes, start wars, increase the "defense" budget, which will run up deficits even more. If your think the Regressives are serious about balancing the budget, I've got a bridge to sell you. In fact, the debt has been run up far more by Republicans than Dems, as you know.

    BTW... any economist that has looked at the deficit seriously has suggested its a many faceted approach that includes tax hike and spending cuts (including cutting the largest discretionary spending line item: "defense") You can not 'spend cut' your way to balanced budget. If you aren't willing to raise taxes and cut the pentagon (as well as other things), you aren't serious about a balanced budget. Anyone that believes otherwise is, as you put, dumb as a rock.


    We have to start at some point in time. The govt spends too much. Every agency should at the very minimum cut their spending by 10-15%. Not just the Defense Department. EVERY agency should put in place a hiring freeze. EVERY govt agnecy that is redundant needs to go. We don't need 4-5 agencies that are doing the same thing - consolidation if what we need.

    But the first thing we need to do is PASS A BUDGET. 3years and no budget! Unacceptable!

    I will be voting for Romney because I know what we have in the present occupant of the WH and he can't even get a budget passed in almost 4 years! So IMO, it's time to move "forward" and "change" our leadership.
    "Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy; it's inherent virtue is the equal sharing of misery." Winston Churchill

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