View Poll Results: Does governnent spending produce economic growth?

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  • Yes

    241 68.08%
  • No

    13 3.67%
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    100 28.25%
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Thread: Does governnent spending produce economic growth?

  1. #201
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    Re: Does governnent spending produce economic growth?

    Quote Originally Posted by imagep View Post
    Why do people keep claiming that lie?

    Money can also be borrowed and printed.
    What lie?

  2. #202
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    Re: Does governnent spending produce economic growth?

    Quote Originally Posted by imagep View Post
    Interest rates don't have to rise. The government has a lot to do with the control of wholesale interest rates.

    Interest is the price of money. Things that are in plentiful supply and which can be produced inexpensively aren't expensive. Money can be produced in unlimited quantity at virtually no cost, there is no reason for it to be expensive.
    Right. That explains why interest rates everywhere have always been and always will be zero%

  3. #203
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    Re: Does governnent spending produce economic growth?

    Quote Originally Posted by Fletch View Post
    Right. That explains why interest rates everywhere have always been and always will be zero%
    Not zero, but low.

    Prior to 1971, our money supply was constricted by the gold standard. Unfortunaty, they forgot to re-write economic textbooks when we went off of the gold standard.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  4. #204
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    Re: Does governnent spending produce economic growth?

    Quote Originally Posted by Fletch View Post
    What lie?
    This lie:

    Quote Originally Posted by Fletch View Post
    A government that spends a trillion dollars had to first confiscate that trillion dollars from the public...
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  5. #205
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    Re: Does governnent spending produce economic growth?

    Quote Originally Posted by imagep View Post
    This lie:
    That is what is called a fact. Or are you not aware that governments engage in a practice known as taxation? Sorry, I tend to assume a certain level of knowledge when discussing this sort of thing...

  6. #206
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    Re: Does governnent spending produce economic growth?

    Quote Originally Posted by Fletch View Post
    So you were referring to deficit spending more than just government spending then.
    Not necessarily, although deficit spending qualifies.

    Quote Originally Posted by Fletch View Post
    Well, sure. There is no way for a government to spend a trillion dollars of debt in a single year and not stimulate significant economic activity.
    Yep. That's the point.

    Quote Originally Posted by Fletch View Post
    The question is how long it can do that sort of thing before it starts to do more damage to the value of the currency and to future debt obligations than it does good.
    Agreed. It can do it as long as the supply of money does not reach the quantity demanded.

    Quote Originally Posted by Fletch View Post
    Right now, while interest rates on our debt are at historic lows, it makes short term sense to run up debt to fuel growth.
    Yep that's why need to spend more on infrastructure and education. Those are very good investments instead of using the power to make war on others.

    Quote Originally Posted by Fletch View Post
    The problem will come when those interest rates rise and payment on that debt sucks ever more money out of the economy. At that point you will be wishing we hadn't spent as much as we did.
    First of all the government pays practically no interest on the bonds that are owned by the Federal Reserve. What happens is that the government makes interests payments to the Fed, who then returns that money minus operating costs back to the government. Next of all like I said before, as long as the quantity of money is less than the quantity demanded, the debt can be rolled over infinitely. In other words as long as people keep wanting dollars, the Fed can keep printing money.

  7. #207
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    Re: Does governnent spending produce economic growth?

    Quote Originally Posted by Fletch View Post
    That is what is called a fact. Or are you not aware that governments engage in a practice known as taxation? Sorry, I tend to assume a certain level of knowledge when discussing this sort of thing...
    It's already been explained to you that the government can also borrow and print.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  8. #208
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    Re: Does governnent spending produce economic growth?

    Quote Originally Posted by Fletch View Post
    That is what is called a fact. Or are you not aware that governments engage in a practice known as taxation? Sorry, I tend to assume a certain level of knowledge when discussing this sort of thing...
    What you said had some truth to it, but it was not the whole truth. Not only that, confiscation is a bit of a distortion though not entirely inaccurate.

  9. #209
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    Re: Does governnent spending produce economic growth?

    Quote Originally Posted by MildSteel View Post
    What you said had some truth to it, but it was not the whole truth. Not only that, confiscation is a bit of a distortion though not entirely inaccurate.
    The government gets its money form two primary sources: taxes and borrowing. Taxation is exactly as my first post says--the government spending money it has taken/confiscated from the public. If it takes a trillion and spends a trillion, how is that better than leaving that trillion where they got it? That was my only point. Borrowing is different and I addressed that in my second post.

  10. #210
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    Re: Does governnent spending produce economic growth?

    Quote Originally Posted by Fletch View Post
    The government gets its money form two primary sources: taxes and borrowing. Taxation is exactly as my first post says--the government spending money it has taken/confiscated from the public. If it takes a trillion and spends a trillion, how is that better than leaving that trillion where they got it? That was my only point. Borrowing is different and I addressed that in my second post.
    Fair enough, and I understand what you are saying. As far as your question goes, we need government and government needs money to cover it's operating costs. I totally agree that the government should not overtax because that is certainly counterproductive. That said, as others have pointed out in this thread, IF the government takes the money from someone or something that is merely hoarding it AND put it to a productive use like properly educating its citizens or improving or creating NEEDED infrastructure, that is better because it increases economic activity and creates more revenue for the government itself.

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