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Thread: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    I am sorry, I don't call creating 17 million jobs, having 7% GDP growth that actually doubled GDP, having a 60% increase in Income tax revenue, creating a peace dividend a failure, why would you? You do realize that Reagan debt was 50% of GDP?
    REAGAN, the man himself repented for tripling our national debt and so strapping the nation, and the failure was in turning the US from the biggest lending nation into the biggest debtor nation, no good trade off. So sorry that's difficult to acknowledge.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Montecresto View Post
    REAGAN, the man himself repented for tripling our national debt and so strapping the nation, and the failure was in turning the US from the biggest lending nation into the biggest debtor nation, no good trade off. So sorry that's difficult to acknowledge.
    Of course he did as would I but not the results of his Administration. The debt created was manageable and 50% of GDP and very little of it came from Reagan who even tried to stop it by massive use of the veto. He needed to turn the economy around and did so but had to compromise with Tip O'Neil who was like a kid in the candy story spending all that money that was coming in, not Reagan. How old were you during the Reagan years, I was in my early 40's

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Montecresto View Post
    REAGAN, the man himself repented for tripling our national debt and so strapping the nation, and the failure was in turning the US from the biggest lending nation into the biggest debtor nation, no good trade off. So sorry that's difficult to acknowledge.
    And yet the debt accumulated by RWR is just a tiny fraction of today's total. And of course there's that Cold War victory and foundation for a generation of prosperity that we got for our money. There's nothing intrinsically wrong with deficit financing if it's required for a great national purpose.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    No I didn't, I said that debt service has to be paid and you cannot do that without a job.
    Sure. And government debts can't be paid without revenues. The US really doesn't have a problem meeting its payments, and does so without printing money. Remember, people have been throwing so much money into Treasuries that they're still at exceedingly low rates.


    How big does the debt have to get before it bothers people like you? Obviously exceeding 100% of GDP isn't the number
    You're right, it isn't. I do admit I don't have an exact figure, but I've already pointed out how a debt of 100% of GDP poses no problems for the US economy.


    Amazing, isn't it that this is the only year in history with bad weather. Show me another winter quarter with that bad of a GDP number?
    It's usually part of the seasonal adjustments. However, when the weather is exceptionally bad, it has an impact on GDP. A couple of quick examples.

    UK cited it in 2010: Shock as UK economy shrank by 0.5% at end of 2010 | Business | theguardian.com
    Germany too: Harsh Winter Halts Growth: German Budget Deficit Hits 3.3 Percent of GDP - SPIEGEL ONLINE
    US in 2011: Reed Construction Data - US Economic growth slows abruptly in winter quarter

    And remember, this isn't a government explanation. It's coming from analysts who don't draw a government paycheck.


    Yes, we had expenditures signed by Obama for the Iraq and Afghanistan wars and Obama expanded the Afghanistan War knowing that people like you would blame Bush for the deficit.
    *shrug* I don't really care who Obama's press secretary blames. Despite your repeated assertions, I'm nowhere near as partisan as you seem to think. E.g. I have no problems crediting Bush and his appointees when they did the right thing, e.g. bail out the banks and start TARP quickly.

    And nothing I've said here discusses whether war spending was or was not the right thing to do. It's simply a fact that Obama was dealt a bad hand, much in the same way Bush 43 inherited Greenspan and Clinton-era refusals to regulate derivatives.


    It doesn't matter a 3.9 trillion dollar budget will not lower the deficit.
    The 2014 deficit was around 2.8% of GDP, and the 2015 deficit is projected to be around 3.1% of GDP. It's really not that bad.

    Again, why do we need a 3.9 trillion dollar Federal Govt. and 50 state governments?
    Go look it up. It's all public. As I indicated, most of it is military, Social Security and Medicare. And people really aren't that interested in cutting anything else.


    You want all money to go to D.C. and have them send you what they think you need?
    I never said anything of the sort. Please stop inaccurately characterizing my views, kthx.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Conservative View Post
    Of course he did as would I but not the results of his Administration. The debt created was manageable and 50% of GDP and very little of it came from Reagan who even tried to stop it by massive use of the veto. He needed to turn the economy around and did so but had to compromise with Tip O'Neil who was like a kid in the candy story spending all that money that was coming in, not Reagan. How old were you during the Reagan years, I was in my early 40's
    Oh, that's the problem.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Reaganomics- led to the U.S. moving from the world's largest international creditor to the world's largest debtor nation.[19

    And yet we still have Reagan apologists.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Montecresto View Post
    Reaganomics- led to the U.S. moving from the world's largest international creditor to the world's largest debtor nation.[19

    And yet we still have Reagan apologists.
    Because the designations are unimportant.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Visbek;1063450465]Sure. And government debts can't be paid without revenues. The US really doesn't have a problem meeting its payments, and does so without printing money. Remember, people have been throwing so much money into Treasuries that they're still at exceedingly low rates.
    Do you have any idea what happens to the value of money if you continue to print it? and the U.S. does have problems meeting its payments and does so by printing money and by borrowing money.

    You're right, it isn't. I do admit I don't have an exact figure, but I've already pointed out how a debt of 100% of GDP poses no problems for the US economy.
    Sorry, but that is your opinion, any idea how much of the budget is debt service? couldn't that money be put to better use? Tell me why SS and Medicare are on budget?

    It's usually part of the seasonal adjustments. However, when the weather is exceptionally bad, it has an impact on GDP. A couple of quick examples.

    UK cited it in 2010: Shock as UK economy shrank by 0.5% at end of 2010 | Business | theguardian.com
    Germany too: Harsh Winter Halts Growth: German Budget Deficit Hits 3.3 Percent of GDP - SPIEGEL ONLINE
    US in 2011: Reed Construction Data - US Economic growth slows abruptly in winter quarter

    And remember, this isn't a government explanation. It's coming from analysts who don't draw a government paycheck.
    What bothers me is the extent this Administration is going to blame the weather as if we haven't had bad weather in the past. All they are doing is diverting from their own failures and lack of understanding as to how the private sector works



    And nothing I've said here discusses whether war spending was or was not the right thing to do. It's simply a fact that Obama was dealt a bad hand, much in the same way Bush 43 inherited Greenspan and Clinton-era refusals to regulate derivatives.
    Obama ran for the job and claimed he had the answers, too many bought the rhetoric and ignored the resume. I knew he didn't have the experience and it gives me no great satisfaction to say I told you so.



    The 2014 deficit was around 2.8% of GDP, and the 2015 deficit is projected to be around 3.1% of GDP. It's really not that bad.
    It is the debt that is the problem and as long as there is a deficit the debt is going to grow


    Go look it up. It's all public. As I indicated, most of it is military, Social Security and Medicare. And people really aren't that interested in cutting anything else.
    I know it is all public, the question remains, why is SS and Medicare on budget?



    I never said anything of the sort. Please stop inaccurately characterizing my views, kthx.[/QUOTE]

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by Montecresto View Post
    Reaganomics- led to the U.S. moving from the world's largest international creditor to the world's largest debtor nation.[19

    And yet we still have Reagan apologists.
    Debt that is manageable isn't the problem but that isn't what we have now. What are we getting for the 6.8 trillion dollars Obama has added to the debt?

    You seem to have a problem with 2.6 trillion in debt on a 5.3 trillion dollar economy but not 17.6 trillion on a 16 trillion dollar economy. Why?

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q

    Quote Originally Posted by jmotivator View Post
    The only thing that has been keeping the economy "growing" is the insane influx of QE dollars into the market.
    If that's the case, then the federal reserve is doing a pretty good job.

    The stock market growth has not been an indicator of a growing economy, it is the bellwether of coming hyper-inflation the likes of which we haven't seen since the Carter administration.
    How many years of hyper-inflation predictions have to be made, without coming true, will you inflation guys admit that printing money doesn't create inflation? Just how many times do you have to be wrong before you will admit to being wrong.

    By the way, inflation was much worse under the first couple of years of Reagan - you try to pretend that it ocurred under Carter to protect who you worship.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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