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Thread: Budget Deficits to Be Worse Than Predicted - CBO

  1. #21
    Educator BulletWounD's Avatar
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    Re: $1 trillion deficits seen for next 10 years

    Quote Originally Posted by Arch Enemy View Post
    Hold up, let me try to figure out what I meant.

    Oh. Yeah I missed out on the comma.

    I never said America's economic decline was a good thing. It is just an inevitability and we are going to have to deal with it. The purpose of the Xbox 720 and Playstation 8 is that we are going to have to make due with not having everything we want; notice the emphasis on the "and".
    I agree that some people are spoiled and don't realize what they have. But at the same time there are a lot of people out there who can't afford an Xbox 360 or a PS3 and they're going to be hit the hardest. Somehow I don't find people losing their jobs and life's savings funny in the least.

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    Re: $1 trillion deficits seen for next 10 years

    Quote Originally Posted by BulletWounD View Post
    I agree that some people are spoiled and don't realize what they have. But at the same time there are a lot of people out there who can't afford an Xbox 360 or a PS3 and they're going to be hit the hardest. Somehow I don't find people losing their jobs and life's savings funny in the least.
    I never said it was funny. I am not trying to amuse. I am saying that we are gonna have to stop complaining about it, and live with it. If there's a fix, buried on someone's desk, then that will be fine... I don't see that happening though. We are still going to be close to the top, but we will not be on par with our former glory...
    "I do not underestimate the ability of fanatical groups of terrorists to kill and destroy, but they do not threaten the life of the nation. Whether we would survive Hitler hung in the balance, but there is no doubt that we shall survive al-Qa'ida." -- Lord Hoffmann

  3. #23
    Educator BulletWounD's Avatar
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    Re: $1 trillion deficits seen for next 10 years

    Quote Originally Posted by Arch Enemy View Post
    I never said it was funny. I am not trying to amuse. I am saying that we are gonna have to stop complaining about it, and live with it. If there's a fix, buried on someone's desk, then that will be fine... I don't see that happening though. We are still going to be close to the top, but we will not be on par with our former glory...
    Nah, we don't need to just deal with it. That's the wrong answer. There is no "quick fix." It's going to take a lot of work and it's up to us, not the government.

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    Re: $1 trillion deficits seen for next 10 years

    Quote Originally Posted by BulletWounD View Post
    Nah, we don't need to just deal with it. That's the wrong answer. There is no "quick fix." It's going to take a lot of work and it's up to us, not the government.
    So this is just a glitch in the system of a well-oiled American machine? That we will find a way to get us back to our economic glory of the 90's?

    I'll have to disagree with you. Call me a pessimist (que actual pessimist responses), but to deny the leveling of American resources throughout the global is to ignore what is actually happening; we are no longer the central of capitalism, India is doing one hell of a job of providing high quality jobs, cheaper.


    To see the wealth of Pre-2007/2008 America you would have to find a way to take it from the Indians. This, to me, seems like a global leveling of resources/wealth in a zero-sum world. We are going to have to get used to it, otherwise we risk digging ourselves further into this pile of ****.
    "I do not underestimate the ability of fanatical groups of terrorists to kill and destroy, but they do not threaten the life of the nation. Whether we would survive Hitler hung in the balance, but there is no doubt that we shall survive al-Qa'ida." -- Lord Hoffmann

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    Re: $1 trillion deficits seen for next 10 years

    Since people are making this a partisan issue... I have one question...

    How would Bush have done it differently?

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    Why so serious?

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    Re: $1 trillion deficits seen for next 10 years

    Quote Originally Posted by Orius View Post
    Since people are making this a partisan issue... I have one question...

    How would Bush have done it differently?
    What difference does it make? He's not President anymore, and I don't know very many conservatives that approved of Bush's spending patterns. This Obama's budget. He owns it.
    "I believe in a Spinoza's God who reveals himself in the harmony of all that exists, but not in a God who concerns himself with the fate and actions of human beings."

    --Albert Einstein, 1929

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    Re: $1 trillion deficits seen for next 10 years

    Quote Originally Posted by Moon View Post
    What difference does it make? He's not President anymore, and I don't know very many conservatives that approved of Bush's spending patterns. This Obama's budget. He owns it.
    Exactly... what difference does it make? If the Republicans were in power now, they'd have to come up with some sort of stimulus package to try and revive the economy, and it would surely be lined with their own pet projects. If the U.S. is to be spared a depression, stimulus money is needed, and a lot of it.

    I'm just pointing out that the economic downfall is not the fault of any one party. Both have contributed to the deregulatory process that has allowed wreckless spending to unfold.

    The only difference is that if it were Republicans in power, partisan conservatives would be supporting them and partisan liberals would be against it.

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    Educating the Ignorant
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    Re: $1 trillion deficits seen for next 10 years

    Quote Originally Posted by Orius View Post
    Since people are making this a partisan issue... I have one question...

    How would Bush have done it differently?
    LOL.
    Seems some people miss their blankie.

    Since when have government predictions been accurate?
    The Raw Deal?
    The Grating Society?

    Social Security.
    Medicare.
    Medicaid.

    There is a fix.
    Reverse course now.
    Cut and gut socialist programs.

    If they can get AIG cash back, then stop these bail-outs... NOW.

    Lower taxes. Corporate, individual... across the board.
    Empower the people instead of burdening them.

    Based on history, I bet the (non-partisan) CBO has underestimated the number.

    Nice gift we are passing on to future generations.

    .
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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    Why so serious?

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    Re: $1 trillion deficits seen for next 10 years

    Quote Originally Posted by Orius View Post
    Exactly... what difference does it make? If the Republicans were in power now, they'd have to come up with some sort of stimulus package to try and revive the economy, and it would surely be lined with their own pet projects. If the U.S. is to be spared a depression, stimulus money is needed, and a lot of it.

    I'm just pointing out that the economic downfall is not the fault of any one party. Both have contributed to the deregulatory process that has allowed wreckless spending to unfold.

    The only difference is that if it were Republicans in power, partisan conservatives would be supporting them and partisan liberals would be against it.
    Seems more like you're trying to mitigate the disaster of this god awful budget by crying "everyone else does it!".

    The economy would recover just fine if government made it more palatable for current businesses to operate and expand and for new businesses to thrive. Instead, we get a budget with horrendous deficits and no clear message on how the government is going to spend us into prosperity.

    Government doesn't drive the economy, the people and companies buying and selling stuff and services do. Government needs to get out of the way and stop pretending it knows what's wrong and how to fix it.
    "I believe in a Spinoza's God who reveals himself in the harmony of all that exists, but not in a God who concerns himself with the fate and actions of human beings."

    --Albert Einstein, 1929

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    Re: $1 trillion deficits seen for next 10 years

    Quote Originally Posted by Moon View Post
    Seems more like you're trying to mitigate the disaster of this god awful budget by crying "everyone else does it!".

    The economy would recover just fine if government made it more palatable for current businesses to operate and expand and for new businesses to thrive. Instead, we get a budget with horrendous deficits and no clear message on how the government is going to spend us into prosperity.

    Government doesn't drive the economy, the people and companies buying and selling stuff and services do. Government needs to get out of the way and stop pretending it knows what's wrong and how to fix it.
    There are clear examples of this in recent American history.
    Decay and Stagnation, Stagflation followed by vibrant recovery.

    "In 1981 I was
    attending my first big economic summit held that year in Canada.
    The opening meeting was for the heads of government for the
    seven industrialized nations. Well, I sat like a new kid in school
    and listened. They dropped titles and spoke to one another on a
    first name basis. I sort of leaned in and said, 'My name is Ron.'
    "That same year we began the actions that we felt would ignite
    an economic comeback, cut taxes and regulations, started to cut
    spending, and soon the recovery began. Two years later there
    was another economic summit. At the opening meeting we all got
    together. All of a sudden, just for a moment, I saw everyone was
    looking at me. Then one of them broke the silence and said, "Tell
    us about the American miracle."

    To understand why the leaders of the free world called America's
    economic recovery a miracle we only need to do a little
    remembering - and look at how bad things use to be. Summing
    that up in New Orleans this August, Reagan explained:
    "Eight years ago America was in economic chaos ... I took office
    after the two worst back to back years of inflation America had
    suffered in sixty years. ... Interest rates had jumped to over 21
    percent, the highest they had been in 120 years. ...The average
    weekly wage plunged 9 percent. The median family income fell 5-
    1/2 percent. Congress had passed the single highest tax bill in
    our 200 year history. Auto loans went up to 17 percent. Factories
    shut down. Fuel costs had doubled. People waited in gas and
    unemployment lines. The misery index, a combination of
    unemployment and inflation rates, had risen to 21 percent.
    Inflation was 19 percent in 1980. It has been reduced to 3-1/2 to
    4 percent. Interest rates are less than half of what they were ..."5
    In a tribute to Ronald Reagan, British Prime Minister Margaret
    Thatcher said, "Mr. President, the free world thanks you!"
    Following Reagan's lead, Mrs. Thatcher has led England in
    deregulation and privatization of many of England's nationally
    owned enterprises. This alone has transformed England from a
    failing socialist economy to a nation that is thriving on free
    enterprise.

    Yasuhiro Nakasone, former Prime Minister of Japan, remarked, "I
    once called him the 'Great Architect.' He put the tumble-down
    house called the Free World back in shape again, shoring up the
    pillars and tightening the loose bolts. Finally he managed to
    persuade the Soviet Union to come out with a new harmonious
    foreign policy.

    "When people asked me why I liked him, I said, 'Because I'm a fan
    of John Wayne.' Mr. Reagan projects the image of a brave man
    with great compassion. I also said, 'He is a gentleman who
    displays all the American virtues and remarkably few of what we
    might see as negative American traits. I often said to Mr. Reagan,
    'You are the pitcher and I am the catcher. Throw me a good pitch
    ... If the Reagan legacy continues, the pitcher-catcher relationship
    between the United States and Japan will last, with mutual trust
    and cooperation for the foreseeable future."6

    Addressing the Republicans this August, Reagan explained, "In
    1902 Teddy Roosevelt told Americans not to hold back from
    dangers ahead but to rejoice with our hearts lifted, with the faith
    that unto us and to our children it shall be given to make this
    republic the mightiest among the peoples of mankind.

    "In 1980 we needed every bit of that kind of faith. That year it
    was our dream that we could rescue America and make a new
    beginning, to create anew that 'shining city on the hill.' The
    dream we shared was to reclaim our government, to transform it
    from one which was consuming our prosperity ... A dream of
    making our nation strong enough to preserve world freedom and
    to recapture our national destiny.

    "We made a determination that our dream would not be built on a
    foundation of sand, something called 'trust me' government, but
    we would trust instead the American spirit. And, yes, we were
    unashamed to believe that this dream was driven by a
    community of shared values, family work, neighborhood, peace,
    and freedom. On July 17, 1980, we left with a mutual pledge to
    conduct a national crusade to make America great again. We had
    faith because the heroes in our midst had never failed us
    before..."
    Obama is the anti-Reagan... he is more or much like Gorbachow.
    "Change" ... Perestroika... all the same.

    Obama has proved himself an antagonist and adversary to the America, the American Way and the American people.

    .
    Last edited by zimmer; 03-21-09 at 10:54 AM.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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