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Thread: Senate reaches deal to end shutdown, avoid default

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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Kushinator View Post
    Come on, this is just too easy!

    The level of debt is of no consequence; it's really a matter of output! For example, in 1947, debt to output was roughly 120% - 140% depending on if you use GNP or GDP. At that time, it was roughly $290 billion in federal debt, relative to $260 billion in output.

    If someone in 1947 said we would never be able to pay off that in 100 years, they would be wrong. The U.S. pays roughly $420 billion in interest payments annually. In 66 years, who knows what the level of the public debt will be. We do know that the interest payments will be somewhere in area of $17 trillion
    Your logic is filled with more holes than swiss cheese

    The debt level is of no consequence? Yea ok

    In 1947 we were gearing down from WW2. We had to just fought a massive world war. Europe was in ashes. The United States as a country was completely unharmed and was in a position of massive economic superiority. There are nowhere near those conditions right now, as Obama has nearly doubled the deficit in 5 years.

    Chinese agency downgrades US credit rating - FRANCE 24

    Dollar slides as relief at U.S. debt deal fades - Yahoo Finance

    Quote Originally Posted by Kushinator View Post
    The shutdown will end up costing the American taxpayer (every citizen at that) $24 billion in economic activity, and about $5.4 billion in tax revenue.

    You must be very proud of the men and women you voted for!
    How are Government workers paid?

    It's just a shifting of resources. An economy isn't sustainable dependent upon EBT and federal workers (paid with taxpayer money) shopping at Wal-Mart

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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Bronson View Post
    Your logic is filled with more holes than swiss cheese

    The debt level is of no consequence? Yea ok

    In 1947 we were gearing down from WW2. We had to just fought a massive world war. Europe was in ashes. The United States as a country was completely unharmed and was in a position of massive economic superiority. There are nowhere near those conditions right now, as Obama has nearly doubled the deficit in 5 years.

    Chinese agency downgrades US credit rating - FRANCE 24

    Dollar slides as relief at U.S. debt deal fades - Yahoo Finance



    How are Government workers paid?

    It's just a shifting of resources. An economy isn't sustainable dependent upon EBT and federal workers (paid with taxpayer money) shopping at Wal-Mart
    Exactly and the Senate has already passed a bill giving back pay to those Govt. employees that were affected by the shutdown. There are no consequences for failure in the liberal world and what liberals will never understand is that we have stagnant economic growth today with all that debt making it unsustainable.

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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Bronson View Post
    Your logic is filled with more holes than swiss cheese

    The debt level is of no consequence? Yea ok

    In 1947 we were gearing down from WW2. We had to just fought a massive world war. Europe was in ashes. The United States as a country was completely unharmed and was in a position of massive economic superiority. There are nowhere near those conditions right now, as Obama has nearly doubled the deficit in 5 years.
    The U.S. is coming out of the worst financial downturn since the 1930's, which in turn was the catalyst for the debt explosion since 2008. You fail to consider the deficits contribution to economic output in the wake of a massive private sector slowdown. As long as output growth outpaces the growth in the deficit (as well as inflation > 0%), U.S. debt as a percentage of output will in fact fall. This year alone the deficit will have declined by roughly 40%, while nominal growth is still in 4% territory.



    How are Government workers paid?

    It's just a shifting of resources. An economy isn't sustainable dependent upon EBT and federal workers (paid with taxpayer money) shopping at Wal-Mart
    I never said an economy or our economy completely depends on EBT and federal workers. Many private sector firms that had to cease operations because the federal government was their largest customer. An entire subset of the economy was operating at a fraction, which in turn cost the entire economy $24 billion in economic activity and $5.4 billion in tax revenue.

    As stated, you must be proud!
    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: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Conservative View Post
    Exactly and the Senate has already passed a bill giving back pay to those Govt. employees that were affected by the shutdown.
    It is not just the federal workers, but the total expenditures that were not realized along with the economic activity that results from those expenditures.

    There are no consequences for failure in the liberal world and what liberals will never understand is that we have stagnant economic growth today with all that debt making it unsustainable.
    This sentence doesn't make sense; three different statements jammed into one.
    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: Senate reaches deal to end shutdown, avoid default

    Aw, the good old days, what happened?

    IT DIDN'T SEEM LIKE IT THEN, but the winter of '09 — when America's debt was just over $10 trillion and Barack Obama was taking his first oath of office — seems like the 'good ol' days' as five years and six shattered debt-ceilings later, America's debt is set to hit $17 trillion, with no end in sight.
    What doesn't make any sense are the liberal economic policies that continue to add to the debt and ignore the debt ceiling just like they did in 2011. Someone needs to explain what happened in 2011 and why we are having the same argument today? Is there anyone here that thinks Obama gives a damn about the debt?

    What liberals don't seem to understand is that we have an unsustainable growing debt that is burying us and generating exactly what Obama wants a massive central govt. that is the number one component of GDP

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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Kushinator View Post
    The U.S. is coming out of the worst financial downturn since the 1930's, which in turn was the catalyst for the debt explosion since 2008. You fail to consider the deficits contribution to economic output in the wake of a massive private sector slowdown. As long as output growth outpaces the growth in the deficit (as well as inflation > 0%), U.S. debt as a percentage of output will in fact fall. This year alone the deficit will have declined by roughly 40%, while nominal growth is still in 4% territory.





    I never said an economy or our economy completely depends on EBT and federal workers. Many private sector firms that had to cease operations because the federal government was their largest customer. An entire subset of the economy was operating at a fraction, which in turn cost the entire economy $24 billion in economic activity and $5.4 billion in tax revenue.

    As stated, you must be proud!
    This is comical

    The deficit will have declined by 40%? We're 7 trillion in the hole since Obama took office. Where are you getting these talking points?

    You've completely missed the boat. Look at the economic factors of 1947. It's not even remotely comparable. The number of workers who produced services (not goods) increased dramatically. We went from a blue collar economy to a white collar economy. It was all private sector innovation that fueled this growth. REAL growth. Not this pathetic charade on display from The Obama Regime.

    None of this charade is even remotely sustainable without Fed (private bank) trickery. Look at the economic statistics. Everyone but the rich (Obama's pals) are getting poorer and more dependent upon Government. Our savings are being robbed and looted by Wall Street. Only The Left would cheer this ponzi scheme #smh

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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Bronson View Post
    The deficit will have declined by 40%?
    Yes.

    If the current laws that govern federal taxes and spending do not change, the budget deficit will shrink this year to $642 billion, the Congressional Budget Office (CBO) estimates, the smallest shortfall since 2008. Relative to the size of the economy, the deficit this year—at 4.0 percent of gross domestic product (GDP)—will be less than half as large as the shortfall in 2009, which was 10.1 percent of GDP.
    source

    ($0.642 trillion - $1.1 trillion) / $1.1 trillion = -41.64%

    The rest of your post was opinionated drivel.
    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: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Kushinator View Post
    Come on, this is just too easy!

    The level of debt is of no consequence; it's really a matter of output! For example, in 1947, debt to output was roughly 120% - 140% depending on if you use GNP or GDP. At that time, it was roughly $290 billion in federal debt, relative to $260 billion in output.

    If someone in 1947 said we would never be able to pay off that in 100 years, they would be wrong. The U.S. pays roughly $420 billion in interest payments annually. In 66 years, who knows what the level of the public debt will be. We do know that the interest payments will be somewhere in area of $17 trillion
    So when do we pay off the $7 trillion in debt we've added in Obama's five years?

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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Erod View Post
    So when do we pay off the $7 trillion in debt we've added in Obama's five years?
    Obama couldn't care less about the debt and that is why he proposed a 3.77 trillion dollar budget. He is getting exactly what he wants, a massive central govt. with dependent people just like they have in Europe. He wants the govt. to control GDP like in Europe and the little minions that support him have no problem with that.

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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Erod View Post
    So when do we pay off the $7 trillion in debt we've added in Obama's five years?
    The point is, we don't have to!
    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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