A balanced budget (no growth in debt)
There's lots of ways this can happen. It can happen by cutting taxes. It can happen by raising taxes. It can happen by invention or favorable weather.
I lean Conservative and I'll answer: You have to do both at the same time. Spending is way out of control. It needs to be be reduced and reduced drastically. I would use the FY 2008 budget as a base line and make reduction from there. Taxes, especially business taxes are way too high. They need to come down and come down fast. Remember Government does not create jobs, private businesses do. I say get the government out of the way and turn the genius of the American business loose.
I came into this world fighting, screaming and covered in someone else's blood. I have no problem going out the same way.
These two statement are contradictory. First you attribute it to the tax cuts then say it has more to do with the economy than anything. Which is it?Originally Posted by sazerac
I personally don't see any evidence that Bush's tax cuts did anything you claim, in theory or in reality.
Our economy didn't really "grow" either, we didn't begin producing more. If anything speculation increased tremendously during that period, not actual growth. GDP is a poor reflection of economic reality in my opinion, especially in America. How can 70% of an economy be based on consumption? If people increase consumption, which therefore "grows" the economy, how is that a good thing?
I favor more efficient government spending.
We can't have tax cuts because the government needs revenue to operate. It just does. It needs to do it for the military, for transportation infrastructure, for the regulation of safe commerce, for public education, and for law enforcement.
However, demanding a balanced budget is pretty pie-in-the-sky. Our government operating via debt is the norm. And people invest in our national debt because our government is an extremely stable entity for investment. On the other hand, that's not the same as operating on a deficit, and the larger our deficit is the more we will have to pay back our national debt.
So what we need to do is use our debt more selectively and efficiently. And we need to start spending on government programs that wil increase the economy. One way to do this is to do less military spending and instead use that money to increase and maintain our transportation infrastructure. This is important because our economy depends on commerce and commerce depends on transportation routes for goods and services to flow. I also heard that every $1 spent on transportation infrastructure gives us a return of $1.50.
So while we definitely need to bring government spending under control, we also need to focus that government spending on things that will increase our economy. Instead of looking at it as government spending it should instead be looked at as government investments and we should invest in those things that will give the people of the U.S. a return on those investments.
Also, we need to legalize recreational drugs and prostitution.