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Started By
Message
re: “We’re going to pay off...the $35 trillion in debt. We’re going to pay it off...fast too.
Posted on 12/8/23 at 7:28 am to Eurocat
Posted on 12/8/23 at 7:28 am to Eurocat
quote:
But dag-nabbit if that dang Clinton didn't eliminate the annual (not the historical "piled up from the past") deficit.
You can credit Newt Gingrich. Clinton just went along for the ride.
"A key aspect of the 1994 Contract with America was the promise of a balanced federal budget. After the end of the government shutdown, Gingrich and other Republican leaders acknowledged that Congress would not be able to draft a balanced budget in 1996. Instead, they opted to approve some small reductions that were already approved by the White House and to wait until the next election season.[85]
By May 1997, Republican congressional leaders reached a compromise with Democrats and President Clinton on the federal budget. The agreement called for a federal spending plan designed to reduce the federal deficit and achieve a balanced budget by 2002. The plan included a total of $152 billion in bipartisan tax cuts over five years.[86] Other major parts of the spending plan called for $115 billion to be saved through a restructuring of Medicare, $24 billion set aside to extend health insurance to children of the working poor, tax credits for college tuition, and a $2 billion welfare-to-work jobs initiative.[87][88]"
This post was edited on 12/8/23 at 7:31 am
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Posted on 12/8/23 at 7:31 am to crazy4lsu
quote:
, it worked remarkably well.
For whom?
Posted on 12/8/23 at 7:44 am to crazy4lsu
quote:So you ignore anything that is not grammatically correct, yet I need to look over your grammatical errors and answer the question. Sorry, I'm not conforming to your standards when you don' live up to them yourself. Practice what you preach or quit preaching.
You didn’t answer the question.
quote:You don't think that as the debt increases, people may begin to worry about investing in gov't securities? Imagine there were many who said similar things in the 1920's before the stock market crash.
isn’t reflective of reality
quote:Wow. Big words. You are quite impressive. Simply amazing even. IF you had to actually support yourself, you would understand what I'm talking about.
You seem to avoid the most pertinent aspects of an argument and retreat to random screeds.
quote:More arrogance and pomposity. One thing I can say for ya is you don't lack for self confidence.
It is easy to appear so when dealing with barely literate morons.
If you can show me a country or individual that successfully borrowed and spent their way to prosperity, I'd love to see that. Otherwise, you have a great day. ROLL TIDE
Posted on 12/8/23 at 7:45 am to RogerTheShrubber
quote:
For whom?
As part of a recovery schema in response to two major economic incidences?
The recovery from 2008 between US and Europe should undermine any arguments that austerity is a good method of dealing economic recovery. And the recovery from the pandemic in a GDP sense has been remarkable.
Posted on 12/8/23 at 7:46 am to pankReb
quote:At least you had the courage to respond directly to me this time. Ha ha. I did not curse or attack it personally (don't want to mis-gender he/she/they/them). Was guilty of a bit of ridicule, though.
pankReb
Posted on 12/8/23 at 7:48 am to crazy4lsu
quote:
As part of a recovery schema in response to two major economic incidences?
For whom?
Inflation has destroyed purchasing power for half the country.
What happened to you progressives and your concern for the working class?
This post was edited on 12/8/23 at 7:49 am
Posted on 12/8/23 at 7:51 am to RollTide71
quote:
At least you had the courage to respond directly to me this time.
What the frick are you even talking about?
Posted on 12/8/23 at 7:52 am to RollTide71
quote:
You don't think that as the debt increases, people may begin to worry about investing in gov't securities?
You understand that we have a market right now which tests this theory, right?
quote:
If you can show me a country or individual that successfully borrowed and spent their way to prosperity, I'd love to see that
Literally any modern economy? Do you think the US is the only one that borrows? Some of the most successful stories in the developed world used both borrowing and investment from abroad to turn their economies around. Taiwan is one example that comes to mind.
Posted on 12/8/23 at 7:55 am to crazy4lsu
Andy Fastow has entered the chat.
Posted on 12/8/23 at 7:55 am to crazy4lsu
quote:
Literally any modern economy?
If you think a house for the average person should cost 500k, sure.
Half the nation cant afford basic necessities. Thats a systematic problem, bucko.
Posted on 12/8/23 at 7:56 am to RogerTheShrubber
quote:
For whom
I literally answered this.
quote:
What happened to you progressives and your concern for the working class?
If only there was a word for people who support continued liberalization efforts, some of which you yourself espouse.
Posted on 12/8/23 at 7:57 am to RogerTheShrubber
quote:
If you think a house for the average person should cost 500k, sure
Recovery doesn't mean that there aren't winners and losers in such scenarios. The choice to develop residential areas in the way they were developed was a case of both the government and landowners choosing that path.
Posted on 12/8/23 at 7:59 am to crazy4lsu
quote:
If only there was a word for people who support continued liberalization efforts, some of which you yourself espouse.
Liberalization doesn't come from massive inflation and debt, Jethro. It comes from freeing people to do for themselves, with opportunities.
You have no clue how the average person lives. You were born on third base and thats all you understand.
You keep lifting the ladder and importing poor people. If only you understood cause and effect, you wouldn't be a progressive
This policy is creating a permenant underclass. I bet youre a fan of the Cloward-Piven strategy?
Posted on 12/8/23 at 8:01 am to crazy4lsu
quote:
Recovery doesn't mean that there aren't winners and losers
Son, the policy you push creates less winners, and more losers.
Again, if you could understand cause and effect you would vote much differently.
quote:
Real median household income was $74,580 in 2022, a 2.3 percent decline
quote:
Median house price 2022 $440,300
This post was edited on 12/8/23 at 8:03 am
Posted on 12/8/23 at 8:03 am to BBONDS25
quote:
Paying off debt is bad!!! Reeeeeee.
BigDumb is a MMT advocate......deficits don't matter.
Posted on 12/8/23 at 8:05 am to crazy4lsu
quote:Absolutely. The only loans are in America. No. My point is that if you keep borrowing, at some point in time you will reach the place where the interest payments are more than you can pay. Right now the debt is 34+ Trillion at 3% that's 1 Trillion in interest. If the interest rates go to 6%, that's 2 Trillion in interest. If the debt goes to 50 Trillion (we have an increasing rate of increase in the debt) we are at 3 Trillion in interest. Our total revenue was around 5 Trillion in 2022. Adding 2-3 Trillion in debt each year, we reach 50 Trillion by 2030. We could be at 50+% of the revenue going to service the debt by 2030. Maybe you're ok with that and you welcome it. I think it is a bad thing. Either way you have a great day. ROLL TIDE
Literally any modern economy? Do you think the US is the only one that borrows?
Posted on 12/8/23 at 8:06 am to Bass Tiger
quote:
BigDumb is a MMT advocate
Covid presented a trial run for MMT and it failed spectacularly.
Posted on 12/8/23 at 8:07 am to Original Bayou Boy
quote:
Everything Trump did in his first term must be viewed as having been done in a hostile environment.
Then hes not much of a leader.
He let these shitty economists run all over his arse. 8 trillion in debt added.
Posted on 12/8/23 at 8:07 am to RogerTheShrubber
quote:
Liberalization doesn't come from massive inflation and debt
What? Again, do you think the US is the only country that borrows? And again, the reason for inflation is based on some underlying fundamentals of the US economy, which is situated within a world economy, which is connected.
quote:
You have no clue how the average person lives. You were born on third base and thats all you understand.
Hell yeah
quote:
You keep lifting the ladder and importing poor people. If only you understood cause and effect, you wouldn't be a progressive
We have to do what it takes to have a constantly growing population base. That's reality. If we could fix the fertility issues with broad pro-natal policies, I'd be in favor of that. We won't even begin to broach it, leaving immigration as our only option.
Posted on 12/8/23 at 8:09 am to RogerTheShrubber
quote:Don't confuse the issue for him/her/they/them with facts.
RogerTheShrubber
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