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

  1. #161
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Goldenboy219 View Post
    You predicted?
    That's post #9
    Please - continue to prove me right.

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

    Moderator's Warning:
    Discuss the issue, not each other
    Tucker Case - Tard magnet.

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

    Quote Originally Posted by Tucker Case View Post
    Moderator's Warning:
    Discuss the issue, not each other
    Yes! Please!

    Waiting for proof of this claim:

    Doing nothing would have been worse. How much worse? Think 1930's worse.

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

    Quote Originally Posted by The Prof View Post
    why the collapse despite the stabilizers?
    Financial systems began to collapse, which leads to.... Ya know.

    why the collapse so deep?
    Considering the default situation and lack of monetary velocity, it could have been much worse.

    despite the stabilizers?
    Stabilizers are meant to help smooth the business cycle, not prevent against corrections.

    why 8.9?
    The Fed currently uses a model in which they implement monetary policy that is adaptive of the Phillips curve. A 1% fall in unemployment will signal inflation expectations.

    why ONE TRIL PER YEAR by around 2015?
    That is how much it will cost.

    why the roofless reconstruction of fannie and fred?
    To stabilize demand.

    why no bottom in sight for foreclosures?
    You got this from Case Shiller?

    why jobless claims still rising?
    Productivity is rising in accordance. As we see the marginal product of capital experience diminishing returns, employment will increase.

    why the party's dumping of the second stimulus?
    They are not economists.

    why their renaming the first?
    Not a clue.

    because thousands of climatologists around the world agree?


    at applebees?
    How about Casino Aztar!

    despite all those coherent macro stabilizers?
    Remember cyclical smoothing?
    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. #165
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Goldenboy219 View Post
    The last time the financial system collapsed was????? Hint: not 1980.
    It did not collapse now either.

    Why Obama Is Leaving the Reagan Era Behind When It Comes to Economic Policy - US News and World Report

    When Ronald Reagan took office in 1981, he, too, referred to the fiscal crisis he inherited as "the worst economic mess since the Great Depression." After several years of sagging productivity and deteriorating confidence, millions of workers were unable to find jobs. The unemployment rate, climbing past 7 percent, was almost exactly the same as it was when Barack Obama was sworn in. Economists were fretting about the long-term consequences of the soaring national debt, then approaching $1 trillion.

    While there was no Wall Street meltdown or housing crisis to confront, the Reagan-era economy, teetering on the brink of recession, was beset by another seemingly insurmountable problem: out-of-control inflation, which was making it difficult for workers to pay for goods and services. "If we get the economy in shape, we're going to be able to do a lot of things," Reagan wrote to a friend after defeating Jimmy Carter. "If we don't, we're not going to be able to do anything."

    As similar as the economic challenges facing Reagan and Obama may sound, the fiscal solutions proposed by the two presidents could not be more different. In his first 100 days, Obama has gone on a Keynesian spending spree, raising taxes on the highest-income earners and pouring money into energy, healthcare, and a massive stimulus bill. Reagan took the opposite path during his first few months in office, pushing through the biggest tax cuts in history, while massively increasing the defense budget.

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

    Quote Originally Posted by ptif219 View Post
    It did not collapse now either.
    Exactly! Had it collapsed, 1930's all over again.
    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: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Goldenboy219 View Post
    Exactly! Had it collapsed, 1930's all over again.
    It was not close. Your spewing Obama fear mongering talking points. As The link I used points out it was very close to Reagan.

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

    Quote Originally Posted by ptif219 View Post
    It was not close. Your spewing Obama fear mongering talking points. As The link I used points out it was very close to Reagan.
    Nope!

    The last time short term treasury yields were 0% was???? That's right, 1930's. The entire world braced for impact and luckily Ben began printing like a mad man. While i fault the stimulus for being puny, it was better than no stimulus.

    And to be entirely technical, short term treasuries were in a state of negative yields first quarter 2009. That has never happened before.
    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: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by ptif219 View Post
    What proof we would have been in a depression? This recession is much closer to the Reagan Carter recession than it is to the depression.
    Why do you think this recession is closer to the Reagan Carter one rather then the depression?

    It could very well be due to the massive governmental stimulus that has been enacted from a rather early point in the economic crisis.

    Or more to the point, what do you think would have happened to the economy without the government spending that has led to the massive deficit

  10. #170
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    the stimulus wasn't big enough

    8.9% unemployment will lead us out

    we'll pay the one tril per year with inflation

    and tax hikes

    while steady growth continues

    fannie and fred were raised roofless because the expectation is foreclosures have bottomed out

    50 years of deficit spending have greatly reduced the number and severity of recessions

    the macro stabilizers are coherent and effective

    lines are out the door at applebees

    LOL!

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