On national TV the austerity movement became a laughingstock | Page 2 | TigerDroppings.com
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Choctaw
Navy Fan
Pumpin' Sunshine
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58211 posts

re: On national TV the austerity movement became a laughingstock

i bet that dude dresses his cocker spaniel in ridiculously degrading outfits


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a want
LSU Fan
North America
Member since Oct 2010
11502 posts

re: On national TV the austerity movement became a laughingstock
Ouch indeed.

And that was pretty damn funny.


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Rex
LSU Fan
Here, there, and nowhere
Member since Sep 2004
60110 posts

re: On national TV the austerity movement became a laughingstock
quote:

that has little to do with what i'm talking about

Sure it does. Like I said, you don't "pay off the debt" by sending payments.. the debt rises and falls as a consequence of Federal spending versus Federal revenues.


Taxing Authority
LSU Fan
Houston
Member since Feb 2010
24881 posts

re: On national TV the austerity movement became a laughingstock
quote:

It's an ongoing process.


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Lsupimp
LSU Fan
Rent free;Liberal Brains everywhere
Member since Nov 2003
34963 posts

re: On national TV the austerity movement became a laughingstock
quote:

It's an ongoing process.


Exactly.
I could not have said it better myself.
America is being PROCESSED.


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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
24881 posts

re: On national TV the austerity movement became a laughingstock
quote:

Sure it does. Like I said, you don't "pay off the debt" by sending payments.. the debt rises and falls as a consequence of Federal spending versus Federal revenues.
No. Federal spending vs. Federal revenues on a y-o-y basis is the deficit. The debt is the aggregate of federal obligations outstanding. As noted above, the aggregate levels haven't decreased in quite some time. For every treasury note we pay off, we issue more than we pay off. Good grief.


UncleFestersLegs
Columbia MD
Member since Nov 2010
1852 posts

re: On national TV the austerity movement became a laughingstock
quote:

the debt rises and falls as a consequence of Federal spending versus Federal revenues.


When did it last "fall"?


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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
310317 posts

re: On national TV the austerity movement became a laughingstock
quote:

the debt rises and falls as a consequence of Federal spending versus Federal revenues.

that's the deficit

and we need to cut the shite out of federal spending (aka, austerity...or at least half of it)

and it's not "Revenue" it's tax receipts

we need tax receipts to stay similar and spending to be slashed in a major way over a long period of time

i am talking about federal spending directly
This post was edited on 4/26 at 1:04 pm


a want
LSU Fan
North America
Member since Oct 2010
11502 posts

re: On national TV the austerity movement became a laughingstock
You are talking about 2 separate issues.

1. The need to cut the deficit and debt.
2. The idea that austerity will lead to economic growth.

The argument by the 2 bozos from Harvard was: with austerity the U.S would experience 2.2% growth. But with no austerity, the growth will be -.1%. This was used as justification by a number of conservative politicians to argue that we could grow the economy by cutting spending.



Champagne
New Orleans Saints Fan
French and Spanish Empire Border
Member since Oct 2007
13989 posts

re: On national TV the austerity movement became a laughingstock
I'm am leaning now towards being in favor of increased FedGov spending and allowing todays'
infant sons and daughters figure it out 30 years from now.

The GOP will get thrashed if it tries to preach austerity. ANY politician who preaches austerity will be thrashed by the opponent who argues against austerity.

It will have to be today's infant sons and daughters to figure out what to do. This generation has failed.


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
310317 posts

re: On national TV the austerity movement became a laughingstock
quote:

But with no austerity, the growth will be -.1%. This was used as justification by a number of conservative politicians to argue that we could grow the economy by cutting spending.

i can't speak for the study, but over time, the private economy will grow (but the decrease public spending may not result in a net increase in GDP until even later)

austerity over time WILL increase GDP, but it takes a patience that people do not like (and the short-term results suck terribly)

the question is if we take a short term suck via austerity or collapse down the road, which will be must worse for much longer


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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
310317 posts

re: On national TV the austerity movement became a laughingstock
quote:

The GOP will get thrashed if it tries to preach austerity. ANY politician who preaches austerity will be thrashed by the opponent who argues against austerity.

It will have to be today's infant sons and daughters to figure out what to do. This generation has failed.

you don't get 100+% debt:GDP without kicking the can down the road...many times

solution? kick the can down the road!


LSUnKaty
LSU Fan
Katy, TX
Member since Dec 2008
3896 posts

re: On national TV the austerity movement became a laughingstock
quote:

No. Federal spending vs. Federal revenues on a y-o-y basis is the deficit. The debt is the aggregate of federal obligations outstanding.
BOOM! Doesn't know the difference between debt and deficit.


UncleFestersLegs
Columbia MD
Member since Nov 2010
1852 posts

re: On national TV the austerity movement became a laughingstock
By this bozo austerity do you mean less spending or more taxes?

I mean you are against both surely?




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germandawg
Member since Sep 2012
4390 posts

re: On national TV the austerity movement became a laughingstock
I don't know what the big fuss over debt is....debt is an asset. The problem is budget deficits, specifically deficit spending. When times are booming it would be a great idea to reduce budgets and cut spending, unfortunately there is very little support for that (pork is lousy unless it is your pork and then it is delicious). Debt is an asset and should be treated as such...it should be used to finance things over the long term it simply isn't practical to finance immediately, like a mortgage on your home. We are going to have cut spending AND raise revenue to lower the nations debt but there is no reason for the US to not be in a certain amount of debt at all times, it is just good business (other people's money). The time to do this is not in the middle of a finanical crisis and the party to initiate it is not the one who lead us into playing soldier in the desert while we cut taxes. That sort of judgement is not conducive to fostering confidence.


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
310317 posts

re: On national TV the austerity movement became a laughingstock
quote:

it is just good business (other people's money).

do you know who holds US debt? we do

quote:

The time to do this is not in the middle of a finanical crisis

then WHEN is it? tell me

quote:

and the party to initiate it is not the one who lead us into playing soldier in the desert while we cut taxes.

our highest recorded tax receipts were during the bush tax cuts


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germandawg
Member since Sep 2012
4390 posts

re: On national TV the austerity movement became a laughingstock
quote:

On national TV the austerity movement became a laughingstock


quote:


it is just good business (other people's money).



do you know who holds US debt? we do


There a lot of investors who hold US debt...hell to hear some on the right China holds it all....

quote:


The time to do this is not in the middle of a finanical crisis



then WHEN is it? tell me


As I said in the post you quoted when the economy is rolling along on its own.

quote:

quote:


and the party to initiate it is not the one who lead us into playing soldier in the desert while we cut taxes.



our highest recorded tax receipts were during the bush tax cuts


Well hell just cut marginal tax rates to 0% and everything is solved! I remember doing an experiment just like the one you are suggesting took place during the Bush era (and of course every president since Nixon) in High School...we caught a fly and then released it while telling it to fly away...sure enough it did just that. Then we caught another one and ripped its wings off and told it to fly...and the dammed thing refused to. Our conclusion? A flies ears are in its wings...

That is exactly what supply siders will tell you is happening when they are slashing taxes AND INCREASING SPENDING.....They attribute any rise in revenues (and they are incredibly difficult to find) to tax cuts and when you mention the associated increase in spending THAT ALWAYS ACCOMPANIES those cuts they want to change the subject to the weather....take a look at the increase in spending, and especially military spending, during the Bush era and see if you can categorically declare that any increase in revenue during the period was due to tax cuts or the opening of the cash spigots...every supplu sider since Kennedy has done the exact same thing because they are cutting the tax burden on their cronies while keeping the masses happy enough for long enough for them to squirrelly that wealth away in foreign investments where it can't be touched when the defecation hits the rotating air circulator. Bush era tax cuts had no more to do with increasing revenues than Reagan cuts did or, conversely, Clinton increases....it was all about income and increased federal spending drove incomes and profits through the roof and tax revenues increased accordingly. Nice try though, but the myth if supply side economics has been so thoroughly debunked that no one butthe right insists on the validity of the premise any longer....


LSUnKaty
LSU Fan
Katy, TX
Member since Dec 2008
3896 posts

re: On national TV the austerity movement became a laughingstock
quote:

Debt is an asset and should be treated as such...it should be used to finance things over the long term it simply isn't practical to finance immediately


What am I missing, debt is an asset? Really? Debt is a liability.

This post was edited on 4/26 at 2:14 pm


rintintin
New Orleans Saints Fan
Life is Life
Member since Nov 2008
9271 posts

re: On national TV the austerity movement became a laughingstock
quote:

but there is no reason for the US to not be in a certain amount of debt at all times,


Well considering it is physically impossible for us to get completely out of debt, this is not any kind extraordinary insight. Our entire monetary system relies on debt.

The problem is the rate at which we continue to increase the debt. It is a bubble, and one day it's going to pop.


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