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One way to reduce government spending; Eliminate subsidies
Topic Started: Mar 13 2013, 10:19 PM (379 Views)
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I thought MR was arguing the other day that the economy is fine?
Being in debt this much will come back to haunt us when the debt has to be paid. Not sure why that is hard to understand.
Obie bashed Bush for doing exactly what he's doing now in spades.
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Mountainrivers
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Pat
Mar 16 2013, 01:26 AM
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.
Well, see I hear well-known economists who disagree completely with that. What got us here was the spending by the Bush administration on wars, drug benefits and tax cuts. Spending has been reduced under Obama, though I know you don't believe it, but do yourself a favor and google it. When people and businesses aren't spending and they aren't, the only way to keep the economy plugging along is government spending and when the economy improves, we can start paying down the debt we are accumulating now. Contraction in the economy is worse than debt.
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Why is the debt higher if he cut spending? LOL Ridiculous.
His spending cuts aren't equal to what the average person calls a cut. He cuts and increase in spending and says he's saving us money. A lie.
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Mountainrivers
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Mar 16 2013, 01:48 AM
Why is the debt higher if he cut spending? LOL Ridiculous.
His spending cuts aren't equal to what the average person calls a cut. He cuts and increase in spending and says he's saving us money. A lie.
Jesus, neut, are you really that dumb? If you're spending $200 and taking in $100, you have a deficit. If you spend $150, you still have a deficit, only smaller.
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Of course the insult comes from you when you have no clue what I was speaking about. Get informed and you will know what Obie and the useful idiots call a cut is not really a cut.
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tomdrobin
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All this debt paranoia is just an excuse to slash entitlements so the wealthy can continue with their low tax/tax free party. F-----k em. Time to raise taxes and invest in the country.

Watch on Netflix: We're Not Broke

You will see what the problem is.
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We are soon to be $20 trillion in debt, if that is paranoia then you should also be paranoid.
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Pat
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As Neal states, some economists disagree with me. OK, then how can you logically determine that an ever ending string of trillion dollar deficits is not the answer to a strong economy. It's smoke and mirrors and everyone's gut should be warning them that such an idea is nuts, and don't buy the nonsense that your personal checkbook is different than a nation's. That is voodoo economics 1st class BS.

Go to the grocery store or any store and see how are dollar/devaluation is working out.

And then do some current research on the updated cost overruns of Obamacare. They are enormous.
Addressing Obama spending cuts is silly. All he has done is decrease what the deficit would be had he not cut some future increases. Although Paul Ryan is laughed at, but the truth, bitter as it is, he is right in larger spending cuts. He is wrong in his defense spending, that needs drastically cut and we need to stop policing the world.
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Libs don't understand what cutting increases mean. They think if we increase spending a $trillion but only spend 500,000 that is a cut. lol
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