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One way to reduce government spending; Eliminate subsidies
Topic Started: Mar 13 2013, 10:19 PM (381 Views)
Neutral
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Obie doesn't want to reduce spending, he has said the same.
If you go back to '08 he was bashing Bush for too much spending.
Not a liar though is he?
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Mountainrivers
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Neutral
Mar 15 2013, 11:32 AM
Obie doesn't want to reduce spending, he has said the same.
If you go back to '08 he was bashing Bush for too much spending.
Not a liar though is he?
He has cut spending, but you know that, don't you?
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Neutral
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He wants to spend more, but you know that don't you?
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Pat
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Neutral is right, and to add another mouth dropper, Obama sees no problem at all in running $trillion deficits into the future. He wants more spending, he wants higher taxes, and if it were not for the House of Reps.he would have it and more.
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Mountainrivers
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Pat
Mar 16 2013, 12:43 AM
Neutral is right, and to add another mouth dropper, Obama sees no problem at all in running $trillion deficits into the future. He wants more spending, he wants higher taxes, and if it were not for the House of Reps.he would have it and more.
I guess it depends on which school of economic thought one chooses to accept. He has chosen Keynesian theory, which calls for spending when the economy is struggling. Now, if you guys know enough economics to explain why he's wrong then go ahead and tell us about it.
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Pat
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I know all about it Neal which is enough to reject the philosophy in it's entirety.
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Mountainrivers
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Pat
Mar 16 2013, 12:54 AM
I know all about it Neal which is enough to reject the philosophy in it's entirety.
Well, then, explain why it's wrong.
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Pat
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I'm not sure how to start or how deep to get into it Neal. What you end up with though, is where we are currently headed. A debt so large, that you need to manipulate your moneys supply and devalue the currency just to fund the debt.
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Mountainrivers
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Pat
Mar 16 2013, 01:09 AM
I'm not sure how to start or how deep to get into it Neal. What you end up with though, is where we are currently headed. A debt so large, that you need to manipulate your moneys supply and devalue the currency just to fund the debt.
Are you an Austrian economist, Pat? Since that seems to be the only other theory being discussed, I have to assume you are. Why do you accept that theory over the Keynesian theory? No need for minute details.
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Pat
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I don't label myself from any school of economic thought Neal. But you can place blame for much of the past decades world economic decline and stagnation on government borrowing more than they have revenue to fund the debt. And the grab for more taxes places even more burden on the economy. I can fully understand the need for short to near term borrowing as a means for funding infrastructure and research, but there must also be a restraint on over spending. Replacing one bond with another does nothing more than have a compounding negative affect. Monetizing the debt with a printing press is absurd and a sign of a last desperate move to keep what has become a Ponzi scheme funded. There's nothing I can do to affect the madness but to speak out. My background is finance and I can tell you flat out, that my peers agree with me that Obama is delusional in his handling of the economy and debt. His deficit spending is reaching epic proportions and could result in a worldwide depression and rapid evaporation of assets and wealth. Once you head down the path of wheel carts full of money to buy a loaf of bread, and it is on an international scale, then the game is up.
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