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Thread: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

  1. #101
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    sidestep what, doctor?

    this grand era of expansion and growth mr obama has brought us to?

    using his pretty keynes textbook, the bill for 100 years of which deficit spending apparently can no longer be shunned?

    sidestep michigan?

    sidestep mere service on the debt, INTEREST ALONE, to approach ONE TRIL PER YEAR by 2016?

    News Headlines

    sidestep deficits in excess of 10% of gdp, causing keynes to keel over in his sarcophagus?

    nothing new under the sun since THE THIRTIES?

    who's sidestepping?

  2. #102
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    sidestep what, doctor?

    this grand era of expansion and growth mr obama has brought us to?
    There is high unemployment after all. Were you upset when Reagan and Bush followed the same path? Hindsight is so wonderful isn't it.

    using his pretty keynes textbook, the bill for 100 years of which deficit spending apparently can no longer be shunned?
    Blame the markets then.... Apparently they are all to happy to keep purchasing debt in record numbers.

    sidestep michigan?
    Knit pick all you like, using one state (Michigan) as your source for negative economic growth is disingenuous. Has the US economy grown following the stimulus?

    sidestep mere service on the debt, INTEREST ALONE, to approach ONE TRIL PER YEAR by 2016?
    Why are the markets not as spooked as you are? As if you know something they do not Until we see yields pop, your calls will continue to fall on deaf ears.

    sidestep deficits in excess of 10% of gdp, causing keynes to keel over in his sarcophagus?
    This is what happens following a close run with an economic depression.

    nothing new under the sun since THE THIRTIES?

    who's sidestepping?
    I have answered all of your questions and queries. You have yet to do the same in proper fashion. Now run along as you are nowhere near 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

  3. #103
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    interest alone to approach one tril per year in half a decade

    unsustainable, doctor

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    interest alone to approach one tril per year in half a decade

    unsustainable, doctor
    Taxes will have to be increased ala 1945-1960's.

    BTW..... Half a decade is 5 years, so by 2015, the interest on the debt will be $1 trillion annually? First it was 2017, then 2016, now 2015.

    Interesting.
    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

  5. #105
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    2015, 2016...

    a tril per year, interest alone

    "well, we'll just have to raise those taxes, that's all"

    voila!

    LOL!

    those macro stabilizers of yours just don't seem to have GOTTEN THE JOB DONE

    i mean, empirically

    at least, NOT THIS TIME

  6. #106
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    2015, 2016...

    a tril per year, interest alone

    "well, we'll just have to raise those taxes, that's all"

    voila!

    LOL!

    those macro stabilizers of yours just don't seem to have GOTTEN THE JOB DONE

    i mean, empirically

    at least, NOT THIS TIME
    Explain how debt:gdp was not nearly as crippling between 1945-1970 as is now?
    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

  7. #107
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    explain how we're gonna come up with a tril a year to service the debt almost as soon as tomorrow

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    explain how we're gonna come up with a tril a year to service the debt almost as soon as tomorrow
    Well.... There is always inflation combined with economic growth of which the US government will tax the hell out of.
    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. #109
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    ooh, that's an awful lot of inflation

    sounds painful

    what happened to those damned macro stabilizers?

  10. #110
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    ooh, that's an awful lot of inflation

    sounds painful

    what happened to those damned macro stabilizers?
    Why don't you calculate the the necessary real guidelines to coincide with the nominal requirements before you say, "awful lot". Then maybe we can have an actual 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

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