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Thread: Where Did Our Debt Come From?

  1. #21
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    Re: Where Did Our Debt Come From?

    Quote Originally Posted by Morality Games View Post
    Some people who like being elected realized that if you don't have taxes but provide services anyway, you please both the people who want low taxes and the people who want more services. Which is to say, the American people.
    That's incredibly obvious but most people are in denial, and the debt is probably the most important issue of all.
    If you expect people to be rational, you aren't being rational.

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    Re: Where Did Our Debt Come From?

    to answer the question:

    SS
    Medicare
    Defense
    If you expect people to be rational, you aren't being rational.

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    Re: Where Did Our Debt Come From?

    Our money is going exactly where mpg is saying its going. Specifically, into social security and defense both things that need to be controlled. Anyways if I were a betting man and I'm not, I would say our debt will trend similarly as it did after FDR:

    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: Where Did Our Debt Come From?

    thats really ignorant to say seeing as when obama took office after bush, who was infact the WORST president we've had, totally destroyed our economy, just to make some money for himself. Obama is trying to help-watch this. Jon Stewart Critiques President Obama in 'Daily Show' Interview (VIDEO)
    i vote C.

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    Re: Where Did Our Debt Come From?

    I agree with Ronnie, deficits don't matter. Recessions do matter. Our country has been in a recession for most of my adult life: !977-1979 was "Carter's recession". 1982-1985 was "Reagan's voodoo economics recession". 1989-1992 was the "Operation Desert Storm recession", where everyone stopped buying big ticket items due to the uncertainty of the war. The stock market dropped like a rock (though soon recovered). 1998-2000 was a recession caused by the dot.com implosion. 2002-2005 was the Bush recession caused by 2 new wars. Last but not least is the current depression caused by the housing bubble burst in 2008-? and the reality that our own financial system was off the deep end.

    Why is our system so ****ed up? Why do we really have global recessions? I'll tell you why. It's to keep the workers under the thumb of the wealthy. Much better to have us begging to do menial tasks than having everyone getting a 10% annual raise throughout their working careers. It's the American anti-dream. I don't want to continuously cut back to make our country meet it's ends. Print more money. Right Ron (RIP)?

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    Re: Where Did Our Debt Come From?

    Quote Originally Posted by Mickey Shane View Post
    1982-1985 was "Reagan's voodoo economics recession". 2002-2005 was the Bush recession caused by 2 new wars.
    way to but Reagans term into perspective. now, things you missed with bush: 9/11, the wars that look like vietnam in some senses, House foreclosuring crisis, Hurricane Katrina which Bush did NOTHING about, the 7 dollar gas prices, Drought in Georgia (and elsewhere). Those are just some things that happened during his term. And most could have been prevented.... well all of those except the drought could have been. And people call him a better president then Obama? thats just disgusting.

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    Re: Where Did Our Debt Come From?

    My opinion is that increased military spending during the Reagan years was mostly responsible for the deficit. I read somewhere that Reagan's military spending was responsible for about 10 trillion. Now, that's a lot. (though I have nothing against him and in fact, I am pro-military). Just stating a fact.
    PS: I think we'll never find out who's responsible. Statistics, etc... are all blurred, and because of extreme partisan politics, every number is corrupted, falsified (I'm accusing nobody here), etc... History will never know the truth
    "The misery of being exploited by capitalists is nothing compared to the misery of not being exploited at all" - Joan Robinson
    "The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries" - Winston Churchill

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    Re: Where Did Our Debt Come From?

    Quote Originally Posted by Proud South Korean View Post
    My opinion is that increased military spending during the Reagan years was mostly responsible for the deficit. I read somewhere that Reagan's military spending was responsible for about 10 trillion. Now, that's a lot. (though I have nothing against him and in fact, I am pro-military).
    how is war ever good?

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    Re: Where Did Our Debt Come From?

    Quote Originally Posted by Wiseone View Post
    Blame is more important than solutions to the majority of people, thats the real scary part
    Indeed. Many of them are just as immature, petulant and worthless as our political leaders who refuse to actually do what is necessary. The GOP wants to add another $700 BILLION to the deficit and subsequent debt. The Democrats refuse to reform Medicare and Social Security. Both would rather score points then actually fix anything as with many people here who would rather reinforce their positions then learn anything.

    And as the recent economic changes have shown, the rich spend according to their net wealth, not their taxes.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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