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Thread: US Treasury asks Congress to lift debt ceiling

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by ricksfolly View Post
    True, but that's because congress has no group or team assigned to making it happen. Investigations and bids take months or even years to put together.

    ricksfolly
    All the more evidence that the trillion+ dollar robulus spending was the biggest waste of money in the history of this country.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by apdst View Post
    All the more evidence that the trillion+ dollar robulus spending was the biggest waste of money in the history of this country.
    Can you answer a very simple, yes or no, question? Is government spending a component to aggregate GDP?
    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: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by Goldenboy219 View Post
    Can you answer a very simple, yes or no, question? Is government spending a component to aggregate GDP?
    Sure it is, but government spending dominating the GDP isn't going to improve the economy.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by apdst View Post
    Sure it is, but government spending dominating the GDP isn't going to improve the economy.
    Government spending does not dominate GDP. As evident by job loss numbers, the other two critical aspects (consumption and investment) fell. Given that GDP is the combination of consumption, investment, government spending, and net exports, increases in government spending during economic contractions (where consumption and investment are extremely sensitive) prevents total GDP from falling in a dramatic fashion.

    If government spending did not increase during this past recession, GDP would have fallen by more than $1 trillion.
    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: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by Goldenboy219 View Post
    Government spending does not dominate GDP. As evident by job loss numbers, the other two critical aspects (consumption and investment) fell. Given that GDP is the combination of consumption, investment, government spending, and net exports, increases in government spending during economic contractions (where consumption and investment are extremely sensitive) prevents total GDP from falling in a dramatic fashion.

    If government spending did not increase during this past recession, GDP would have fallen by more than $1 trillion.
    How was the economy repaired? Answer: it wasn't.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by Redress View Post
    The government is not a business.
    And therin lies the root problem. The govt is not a business and does not have to make a profit (or even break even) , If the govt were required to balance what they spend, with what they take in, then we would not have this deficit problem in the first place. And then no thread here.

    If my business could take money from customers without giving a benefit, I would probably spend more than I earn too.

    It just doesn't work in real life for very long.

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by apdst View Post
    How was the economy repaired? Answer: it wasn't.
    Nobody claimed it was repaired, only that we did not fall into full scale depression if government spending was kept at 2007 levels.
    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: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by ricksfolly View Post
    Not that simple... Congress needs more money to create more needed jobs (infrastructure, dams, etc.) to keep priming the motor, without it, the country would lose all the advances it has made. It's about more charity. It's about doing something NOW, not just hoping the economy will recover by itself. Never has never will.

    Maybe, just maybe congress will finally do what the people voted for them to do, not play political gotcha ya ya ya games like little children.

    ricksfolly
    But it IS quite that simple, just don't spend the money that you don't have, Just like the rest of US.

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by cholla View Post
    But it IS quite that simple, just don't spend the money that you don't have, Just like the rest of US.
    And if that money was not spent, do you honestly believe the economy would be better off?
    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: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by Goldenboy219 View Post
    Nobody claimed it was repaired, only that we did not fall into full scale depression if government spending was kept at 2007 levels.
    That's just a talking point. There's no way to prove that it made a difference. That's along the same lines as, "jobs created, or saved". It's political bull****, since there's no way to measure that.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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