Page 8 of 56 FirstFirst ... 67891018 ... LastLast
Results 71 to 80 of 552

Thread: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

  1. #71
    Sage
    Fletch's Avatar
    Join Date
    Feb 2012
    Location
    Mentor Ohio
    Last Seen
    Yesterday @ 09:29 PM
    Gender
    Lean
    Libertarian
    Posts
    15,678

    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Kushinator View Post
    Poking fun at chicken little is entirely justified given the vitriol that spews from the majority of conservatives.
    Actually, the vitriol flows from your keyboard at rate that would make the typical liberal blush. The truth is, Obama is just as much a bystander on the economy as he is on foreign policy. The only real credit he can claim for the recovery is just happening to have been sitting in the Oval Office when the economy recovered.

  2. #72
    Sage
    Conservative's Avatar
    Join Date
    Dec 2009
    Location
    Houston, TX
    Last Seen
    Yesterday @ 10:25 PM
    Gender
    Lean
    Conservative
    Posts
    68,316

    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Kushinator View Post
    It makes absolutely no sense to believe that the economy would be where it is if government spending was curtailed for the past 5 years. Remember, government expenditure is a part of total output.
    Seems that liberals believe that Reagan's 17 million jobs created would have happened without the tax cuts. Seems that liberals always make projections that they claim are accurate but ignore human behavior. It makes no sense to claim that tax cuts which increased govt. revenue contributed the most to the debt that has been generated? You seem to have a double standards in believing what liberals tell you. Don't you make projections all the time and ignore actual events?

  3. #73
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 11:52 PM
    Gender
    Lean
    Independent
    Posts
    16,373

    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    Talk about partisanship, you have yet to give the opposite party any credit while trying to find something to credit Obama for.
    I haven't given Obama credit for anything. I have simply pointed out that during his presidency, the deficit has been cut by 2/3, 10 million jobs have been created, and our financial system is strong enough to be taken off life support.

    Why does this bother you? As an American, you should be happy when America does well. Instead, you are jealous that it occurred on the watch of a democrat president.

    You have yet to acknowledge the Obama 3.9 trillion dollar budget proposal, the Obama debt of over 7 trillion dollars, the high unemployment/under employment/discouraged workers, and the partisan arrogant leadership he displays.
    The budget is not an issue, and neither is the debt. As for employment demographics, how is that Obama's fault?

    True results matter and cutting the deficit to still record highs should never be touted as a success.
    The deficit is nowhere near record highs. Please try to aim for accuracy!
    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

  4. #74
    Sage
    Visbek's Avatar
    Join Date
    Nov 2011
    Last Seen
    Yesterday @ 11:47 PM
    Lean
    Other
    Posts
    10,255

    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by jmotivator View Post
    To put that in perspective, if Obama wasn't spending us into ruin we would have a surplus right now.


    Sorry. Anyway. Most of the high deficits were not a result of Obama's policies. Huge swaths of the shortfalls were due to:
    the recession, which reduced tax revenues, and happened before Obama came into office
    the wars in Iraq and Afghanistan, started by Bush 43
    the Bush tax cuts



    Regardless of whether you want to credit Obama or Congressional Republicans, or if you think the wars were just and well-run, or if you think tax cuts are good, the facts are that a) Obama inherited a bunch of deficit-boosting situations, and b) deficits have fallen every year since 2009.

  5. #75
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 11:52 PM
    Gender
    Lean
    Independent
    Posts
    16,373

    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    Seems that liberals believe that Reagan's 17 million jobs created would have happened without the tax cuts.
    Tax cuts were entirely justified. But you seem to forget the economic gains that have been achieved through technological innovation.

    Seems that liberals always make projections that they claim are accurate but ignore human behavior.
    My predictions have been pretty darn accurate!

    It makes no sense to claim that tax cuts which increased govt. revenue contributed the most to the debt that has been generated? You seem to have a double standards in believing what liberals tell you. Don't you make projections all the time and ignore actual events?
    Tax cuts do not increase revenue, that is pure folly. Increased economic activity boots revenue; how much of it is attributable to tax cuts is an entirely different discussion.
    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

  6. #76
    Sage
    Conservative's Avatar
    Join Date
    Dec 2009
    Location
    Houston, TX
    Last Seen
    Yesterday @ 10:25 PM
    Gender
    Lean
    Conservative
    Posts
    68,316

    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Kushinator View Post
    I haven't given Obama credit for anything. I have simply pointed out that during his presidency, the deficit has been cut by 2/3, 10 million jobs have been created, and our financial system is strong enough to be taken off life support.

    Why does this bother you? As an American, you should be happy when America does well. Instead, you are jealous that it occurred on the watch of a democrat president.



    The budget is not an issue, and neither is the debt. As for employment demographics, how is that Obama's fault?



    The deficit is nowhere near record highs. Please try to aim for accuracy!
    Interesting how those 10 millions jobs don't show up in BLS. Are the phantom jobs? Please tell me why we have the same number of people working today that were working in December 2007 when the recession began? That doesn't look like 10 million jobs to me? Seems that your partisanship is showing. Please also explain to me with this booming economy, record high stock market, and great job creation that you are reporting why Obama has lost 13% of his support from when he was elected and why he has a 41% JAR? Seems the disconnect is between what the public feels and what you think happened

    As for the deficit, name for me the last President that had a 483 billion dollar deficit?

  7. #77
    Sage
    Visbek's Avatar
    Join Date
    Nov 2011
    Last Seen
    Yesterday @ 11:47 PM
    Lean
    Other
    Posts
    10,255

    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Fletch View Post
    No, it has been countless liberals on this site.
    Whatever you say


    Except that it is actually FED stimulus that has floated the economy, not Obamas spending spree in 2009-2010.
    Yeah, not so much.

    The Fed has helped a bit in theory, since actions like lowering interest rates and QE did help a little bit with unfreezing lending and the commercial paper market. And of course, Bernanke and Paulson's actions, flawed as they were, at least helped prevent the economy from completely cratering.

    It's likely that the Fed's policies have boosted a fair amount of stock buy-backs, which pushes the market up. However, that doesn't really boost GDP or cut spending. Fed policies are a part of the recovery, but certainly not all of it.


    If you are going to credit someone, be honest and credit Bernanke, not Obama. But then again, the repercussions of that FED policy aren't yet known.
    I'd say they are reasonably well known by now.

    In particular, the hysterical screeching that Fed policies will cause inflation, notably hyper-inflation, have obviously been proven wrong. We've also got a clear history of the value of the dollar and bond rates over the past 6 years.

  8. #78
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 11:52 PM
    Gender
    Lean
    Independent
    Posts
    16,373

    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    Yep, sure do understand how debt works and how that debt is paid for, do you?
    Of course i do!

    Debt service is far from your definition, it is paid to the bond holders many of who are outside this country and foreign sources. That is an outflow that we could use in taxpayers pockets especially in a consumer driven economy.
    It is also a form of income for domestic tax payers! You will be troubled to show debt service or trade deficits for that matter relate to a net outflow.

    Sorry but deficits being reduced that are still records and that still grow the debt aren't something to be touted. You don't really seem to have a grasp of reality.
    I understand finance. As interest rates rise, the PV of stock debt declines by definition. Given the relationship between output growth and inflation, a rise in interest rates would be a blessing for a government that has deficit growth < output growth. It seems i am talking way above your head.
    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

  9. #79
    Sage
    Conservative's Avatar
    Join Date
    Dec 2009
    Location
    Houston, TX
    Last Seen
    Yesterday @ 10:25 PM
    Gender
    Lean
    Conservative
    Posts
    68,316

    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Kushinator View Post
    Tax cuts were entirely justified. But you seem to forget the economic gains that have been achieved through technological innovation.



    My predictions have been pretty darn accurate!



    Tax cuts do not increase revenue, that is pure folly. Increased economic activity boots revenue; how much of it is attributable to tax cuts is an entirely different discussion.
    Better tell your theory to the Treasury Dept which shows tax revenue growing AFTER The actual Income tax cuts. Seems they have a different set of numbers than you and I actually buy their numbers as they are the bank account of the United States.

    As for increased economic activity boots revenue, couldn't agree more. Please tell me who having more spendable income in your paychecks affects economic activity? Isn't that what tax cuts do?

  10. #80
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 11:52 PM
    Gender
    Lean
    Independent
    Posts
    16,373

    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    Interesting how those 10 millions jobs don't show up in BLS. Are the phantom jobs? Please tell me why we have the same number of people working today that were working in December 2007
    Did you forget about the millions of job losses?



    That doesn't look like 10 million jobs to me?
    That is because you don't know how to look!

    Seems that your partisanship is showing.
    I have not said anything partisan. Please try and stay relevant.

    Please also explain to me with this booming economy, record high stock market, and great job creation that you are reporting why Obama has lost 13% of his support from when he was elected and why he has a 41% JAR? Seems the disconnect is between what the public feels and what you think happened
    Now you want to begin discussing JAR?

    Please try and stay relevant.

    As for the deficit, name for me the last President that had a 483 billion dollar deficit?
    In 1944, the deficit (a record 24% of GDP) was only $50 billion. Is it too much to ask you to stay relevant?
    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

Page 8 of 56 FirstFirst ... 67891018 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •