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Thread: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

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    Re: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

    Quote Originally Posted by Conservative View Post
    I believe the operative word there is "private" debt instead of taxpayer funded Federal Debt. In our economy there are consequences for poor choices and the problem is liberals want to bailout those people who make bad choices and therein lies the problem. Free enterprise operates on the basic principles of personal responsibility and individual wealth creation. If you take risk and succeed you are entitled to the "fruits of your labor" but if you take risk and fail there should be consequences for that failure.

    I do not and never will support the bailouts of private business that fail thus I did not support TARP. I do not support the massive expansion of govt. under FDR and now Obama. Liberal social engineering by these two Administrations along with others has created the 13.4 trillion debt we have today. that debt is unsustainable.
    Your argument is all over the place. First and foremost, Hoover and FDR allowed thousands of banks to fail following 1929. To eliminate bank failures spawned specifically from liquidity runs, the FDIC was created (and to a great success as there has yet to be another run on a US bank). Proper and necessary financial regulations were then put in place which (basically) disallowed a bank to operate (using deposits) as insurance companies (risk spreaders).

    I will wholeheartedly agree that when a business implements a faulty strategy, it should pay the price (even if this equates to failure). For the sake of future confidence in any particular industry; spillover from a few faulty institutions cannot, should not cause responsible firms to fail. No single entity can pose systemic risk -it and of itself-, or else it will have a disastrous impact on long term risk taking (essential in a market system).

    Had TARP not been passed, thousands of institutions would have failed (even the ones who "bet correctly" e.g. Goldman Sachs).

    Had a proper stimulus been enacted (around $1.5 trillion focused primarily on infrastructure, health and education), current growth outlooks would not be as abysmal.
    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: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

    Quote Originally Posted by BDBoop View Post
    I'd like some feedback, please. I'm not as good with numbers as I could wish to be.

    Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge - Newsweek
    That was without a doubt the most ridiculous thing I've ever read. That's some fuzzy math.
    The Obama Deficit

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    Re: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

    Had TARP not been passed, thousands of institutions would have failed (even the ones who "bet correctly" e.g. Goldman Sachs).
    Let em fail, what we did is reward bad behavior by bailing these companies out

    Had a proper stimulus been enacted (around $1.5 trillion focused primarily on infrastructure, health and education), current growth outlooks would not be as abysmal.
    You are entitled to your opinion but we have use taxes for infrastructure, i.e. gasoline taxes, and health and education are state and local issues not a Federal issue. the stimulus that was passed was a gift from the arrogant Democrats to their constituent groups and wasn't directed to the public and the private sector. Giving all that out in tax cuts, individual and business would have been the answer, IMO.

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    Re: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

    Quote Originally Posted by Conservative View Post
    Let em fail, what we did is reward bad behavior by bailing these companies out
    This was allowed to happen in the past; the results were less than desirable. Bank Failures during the 1930s Great Depression

    During the 20s, there was an average of 70 banks failing each year nationally. After the crash during the first 10 months of 1930, 744 banks failed – 10 times as many. In all, 9,000 banks failed during the decade of the 30s. It's estimated that 4,000 banks failed during the one year of 1933 alone. By 1933, depositors saw $140 billion disappear through bank failures.
    Have you even considered potential FDIC liabilities (backed by the full faith of the US government)?

    You are entitled to your opinion but we have use taxes for infrastructure, i.e. gasoline taxes, and health and education are state and local issues not a Federal issue. the stimulus that was passed was a gift from the arrogant Democrats to their constituent groups and wasn't directed to the public and the private sector. Giving all that out in tax cuts, individual and business would have been the answer, IMO.
    Not during periods of deflation when demand for money becomes elastic. With a $10 trillion federal debt, tax payers would have internalized future tax expectations (and the tax stimulus would have a marginal impact on demand).
    Last edited by Kushinator; 09-03-10 at 06:09 AM.
    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: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

    Quote Originally Posted by BDBoop View Post
    I'd like some feedback, please. I'm not as good with numbers as I could wish to be.

    Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge - Newsweek
    I thought partisan threads weren't allowed in breaking news?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

    Quote Originally Posted by Goldenboy219 View Post
    This was allowed to happen in the past; the results were less than desirable. Bank Failures during the 1930s Great Depression



    Have you even considered potential FDIC liabilities (backed by the full faith of the US government)?



    Not during periods of deflation when demand for money becomes elastic. With a $10 trillion federal debt, tax payers would have internalized futur

    e tax expectations (and the tax stimulus would have a marginal impact on demand).
    I don't buy the claim that we would be in a depression today. Some of the banks that took TARP money did so under Govt. pressure and all that money has been paid back except of cource for Freddie and Fannie. The banks came up with the money to pay back the loans and the banks would have come up with the money to prevent failure.

    Our economy wasn't established under the principles that if you fail you get bailed out.

    The problem I have with the tax policies include the fact that we have 47% of the people not paying any Federal Income taxes and supporting politicians that have no problem raising those taxes on the 53% that do. The right economic policy is a flat tax and cutting Federal spending. Everyone pays something and the govt. cuts their massive appetite for power through fiscal responsibility.

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    Re: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

    Quote Originally Posted by Vader View Post
    Yeah, I agree with you there. Both sides are guilty in this area. What have republicans done to help the average citizen lately? Not that democrats have done much but ... at least they have done SOMETHING. Republicans want to horde everything for themselves and leave the rest of us to die.
    That is why we voted dems into office. They have done a little, but nothing for example about trade agreements. If you want to fundementally fix our economy then you have to give breathing room to our manufacturing sector. There are also things that could have been done to the tax code to entice corporations to bring jobs back to factories here versus building factories overseas.

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    Re: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

    Republicans have a track record of not only giving more money to the very wealthy but also raising the Countries debt. That is slightly worse than giving money to ass-clown unions that rape companies and tax payers.
    CORPORATE GREED AND UNION GREED
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    DESTROYING THE BEST OF AMERICA ONE DAY AT A TIME

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    Re: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

    Quote Originally Posted by The Giant Noodle View Post
    Republicans have a track record of not only giving more money to the very wealthy but also raising the Countries debt. That is slightly worse than giving money to ass-clown unions that rape companies and tax payers.
    difference without a distinction.

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    Re: Estimates Say Fewer Jobs, Larger Deficits if Republicans Were in Charge

    Quote Originally Posted by The Giant Noodle View Post
    Republicans have a track record of not only giving more money to the very wealthy but also raising the Countries debt. That is slightly worse than giving money to ass-clown unions that rape companies and tax payers.
    Well, let's see, Republicans haven't controlled Congress until 2006 so what was the debt then vs. now? How do you explain the trillion dollar deficits Obama has generated since taking office? Bush's fault? LOL, Civics tells me it is Congress that authorizes the spending and does most of it.

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