• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

the economy

are we in a bubble that is about to burst?

  • yes

    Votes: 13 52.0%

  • no

    Votes: 12 48.0%
  • Total voters
    25
  • Poll closed .
rickc said:
i see a lot of parallels with the Bush economy. tax cuts, a booming economy fuelled by cheap money and debt and a FED beginning to raise interest rates to cool off the economy.

are we in a bubble that is about to burst?
Click to expand...

Unfortunately, there's no way to know that for sure, but yes there are definitely signs of it. Too many people(including our own government) are overextended in debt. That's the scary part. If we end up in a recession it's the government who would need to take on some debt to help get us out of it. With skyrocketing deficits that Republicans are running for no good reason, we're in danger of not being able to pull ourselves out even if it hits.
 
MrWonka said:
Unfortunately, there's no way to know that for sure, but yes there are definitely signs of it. Too many people(including our own government) are overextended in debt. That's the scary part. If we end up in a recession it's the government who would need to take on some debt to help get us out of it. With skyrocketing deficits that Republicans are running for no good reason, we're in danger of not being able to pull ourselves out even if it hits.
Click to expand...

now this i agree with
 
Fenton said:
Trillion dollar deficits are the result of spending, not tax cuts.
Click to expand...
Idiotic statements like this make you irrelevant.

Fenton said:
The Federal Government has been taking in record revenue for the last few years and the debt keeps growing.
Click to expand...
As the population grows you always take on more revenue, but you also require more spending. More children in schools more retire on SS and Medicare, roads deteriorate faster and or need to be widened and redone. Spending is scheduled to grow with inflation. The deficit is caused by the fact that revenue is not keeping up, and it's not keeping up because of idiotic tax cuts. You can't lie your way out of that. Even Ronald Reagan knew better.
 
marke said:
True. When the current financial systems of the world collapse together then the one world Satanic ruler, the anti-Christ, will emerge and institute a system in which all people will have to take the mark of the beast to conduct any business at all.
Click to expand...

Wow, sounds like fun. :roll:

Glad I'm retiring. I don't want to take the mark of tRump.
 
I
MrWonka said:
Idiotic statements like this make you irrelevant.


As the population grows you always take on more revenue, but you also require more spending. More children in schools more retire on SS and Medicare, roads deteriorate faster and or need to be widened and redone. Spending is scheduled to grow with inflation. The deficit is caused by the fact that revenue is not keeping up, and it's not keeping up because of idiotic tax cuts. You can't lie your way out of that. Even Ronald Reagan knew better.
Click to expand...


Wait, so you actually believe we could just on tax increases alone balance the budget and begin to pay down our debt ?

And this population growth you mentioned, are none of these people paying taxes ?

And public schools are primarily funded through local property taxes and road and bridge infrastructure is primarily funded via fuel taxes. The majority of spending and debt is directly attributed to entitlement spending

And I'm the one making idiotic statements....Lol !
 
rickc said:
i see a lot of parallels with the bush economy. tax cuts, a booming economy fuelled by cheap money and debt and a FED begining to raise interest rates to cool off the economy.

are we in a bubble that is about to burst?
Click to expand...

We are always in a bubble that's about to burst. That won't change until we realize that de-regulation isn't necessarily a good thing, and that surges in the stock-market aren't an indicator of how normal people are doing.
 
Last edited:
MrWonka said:
Unfortunately, there's no way to know that for sure, but yes there are definitely signs of it. Too many people(including our own government) are overextended in debt. That's the scary part. If we end up in a recession it's the government who would need to take on some debt to help get us out of it. With skyrocketing deficits that Republicans are running for no good reason, we're in danger of not being able to pull ourselves out even if it hits.
Click to expand...

You people are a bunch of hypocrites....

From 2015....

Obama's 4 Trillion dollar budget: Liberalisms last Hurrah
https://www.heritage.org/budget-and-spending/commentary/obamas-4-trillion-budget-liberalisms-last-hurrah
 
Fenton said:
You people are a bunch of hypocrites...
Click to expand...
You don't seem to know what a hypocrite is. A hypocrite is when you bitch about deficits for 8 years under Obama and then immediately increase them when your own president is elected.

Fenton said:
Obama's 4 Trillion dollar budget
Click to expand...

Obama inherited his deficit from Bush. Once Obama was able to eliminate Bush's tax cuts, and end Bush's wars the deficit under Obama shrunk every year in his second term, and if Hillary Clinton had won in 2016 we would almost certainly have a surplus today.

Timing is everything. When your economy is struggling through a recession a deficit makes sense. It is necessary to pull the economy out of the hole, but once the economy is fully recovered a deficit is reckless and irresponsible. The last thing we need is the stimulus to put us into a bubble. That's particularly true when you use tax cuts for millionaires and billionaires to try and do it. You end up turning already high consumer and investor confidence into arrogance. People start buying houses and cars that are too expensive. They start investing in stocks and companies that are risky. Millions of people get overextended in high-risk investments and then all of a sudden one bad turn in the road sends everything crashing.
 
rickc said:
i see a lot of parallels with the bush economy. tax cuts, a booming economy fuelled by cheap money and debt and a FED begining to raise interest rates to cool off the economy.

are we in a bubble that is about to burst?
Click to expand...

Seriously worried that we are. And this is far more than just tRump. Anyone kept an eye on the stock market this year? It hasn't been a good market.
 
MrWonka said:
You don't seem to know what a hypocrite is. A hypocrite is when you bitch about deficits for 8 years under Obama and then immediately increase them when your own president is elected.



Obama inherited his deficit from Bush. Once Obama was able to eliminate Bush's tax cuts, and end Bush's wars the deficit under Obama shrunk every year in his second term, and if Hillary Clinton had won in 2016 we would almost certainly have a surplus today.

Timing is everything. When your economy is struggling through a recession a deficit makes sense. It is necessary to pull the economy out of the hole, but once the economy is fully recovered a deficit is reckless and irresponsible. The last thing we need is the stimulus to put us into a bubble. That's particularly true when you use tax cuts for millionaires and billionaires to try and do it. You end up turning already high consumer and investor confidence into arrogance. People start buying houses and cars that are too expensive. They start investing in stocks and companies that are risky. Millions of people get overextended in high-risk investments and then all of a sudden one bad turn in the road sends everything crashing.
Click to expand...


Obama's FY2017 Budget proposal was 4.15 Trillion dollars, and you people didn't say a word

Trump's 1.3 Trillion dollar omnibus mistake was supported by a majority of House Democrats, but now they're bitching about spending and deficits ? FFS , hypocrites

And explain this Bubble that you're attributing to consumer arrogance. Is it a commodity bubble ? A credit bubble ? A market bubble ? Another Housing bubble ?
 
Fenton said:
Obama's FY2017 Budget proposal was 4.15 Trillion dollars, and you people didn't say a word
Click to expand...

Treasury and the FED forced that on President Obama.

Fenton said:
Trump's 1.3 Trillion dollar omnibus mistake was supported by a majority of House Democrats
Click to expand...

Nope.

Fenton said:
And explain this Bubble that you're attributing to consumer arrogance. Is it a commodity bubble ? A credit bubble ? A market bubble ? Another Housing bubble ?
Click to expand...

Does it matter, the FED and Treasury are in cahoots and expansions and contractions benefit the rich; the poor don't have the buy in to play.
 
Fenton said:
Obama's FY2017 Budget proposal was 4.15 Trillion dollars, and you people didn't say a word
Click to expand...
Right, because he was paying for it with appropriate levels of taxation. As a result, it wasn't increasing the deficit at all.

Fenton said:
Trump's 1.3 Trillion dollars omnibus mistake was supported by a majority of House Democrats, but now they're bitching about spending and deficits?
Click to expand...
Correct, see Democrats supported spending, but they also supported maintaining Obama's tax brackets to cover the spending. Trump and Republicans, on the other hand, continued the spending, but cut taxes. As a result, you can blame Republicans and Trump for deficits.

Fenton said:
And explain this Bubble that you're attributing to consumer arrogance. Is it a commodity bubble ? A credit bubble ? A market bubble ? Another Housing Bubble?
Click to expand...

The problem with bubbles is that you never know what part of the economy they will effect until after they burst. If you did then they wouldn't happen. We still know what causes them in the first place, but it's hard to know where they're forming until it's too late.
 
Helix said:
um, Trumpists are in charge of everything. call your representative, tell that person your CT, and ask for yet another fruitless investigation.
Click to expand...

If democrats gain control of the house you will see more fruitless investigations just like when Harry Waxman did them in 2009. Investigation after investigation without one single positive result for democrats.
 
antiquity said:
If democrats gain control of the house you will see more fruitless investigations just like when Harry Waxman did them in 2009. Investigation after investigation without one single positive result for democrats.
Click to expand...

Maybe we'll all finally get to take a peek at those tax returns. That would be fun.
 
You must log in or register to reply here.
Back
Top Bottom