Just How Bad are the Deficits?

Discussion in 'Politics' started by Buffalo Roam, Aug 24, 2009.

  1. quadraphonics Bloodthirsty Barbarian Valued Senior Member

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    9,391
    You gotta love the wingnut approach: shout on and on about deficits and spending, without ever mentioning taxation. As if the current deficits are the result of anything other than Republican tax cuts, entitlement expansions, and Bush's wars, or gutting the federal government in the midst of a Republican-caused recession is a better option for the country than some deficit spending or tax hikes.
     
    Last edited: Aug 27, 2009
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  3. Buffalo Roam Registered Senior Member

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    There are not enough taxes in the America to pay for the Neo-Liberal, nanny state, cradle to shove em in the grave State, that Democrats want to inflict on We the People
     
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  5. pjdude1219 The biscuit has risen Valued Senior Member

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    Yeah they like to pretend its merely a coincidence that the debt started skyrocketing right after the reagan tax cuts
     
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  7. 420Joey SF's Incontestable Pimp Valued Senior Member

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    The debts are supposed to rise... to increase the favoritism of a socialist controlled state where the desires of a few will succumb bias logic manipulation
     
  8. joepistole Deacon Blues Valued Senior Member

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    Republicans have absoutely ZERO credibility when it comes to fiscal responsibility! They doubled the national debt in eight years and committed the country to huge structrual deficts for the next decade.

    And now they pull out their teabags and want us to belive they are fiscal conservatives, I think not. They are a bunch of criminal rascals in my book.
     
  9. Pinwheel Banned Banned

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    Thats not sustainable........is it?
     
  10. Buffalo Roam Registered Senior Member

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    And Obama and the Democrats have doubled it again, in seven months, kettle meet pot.
     
  11. pjdude1219 The biscuit has risen Valued Senior Member

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    please prove that the national debt is at 20 trillion.

    because the treasury department on has 12 trill on record
    http://www.treasurydirect.gov/NP/BPDLogin?application=np
     
  12. Buffalo Roam Registered Senior Member

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    The Democrat controll Congress gets the credit for the soaring national debt because under the Constitution Congress controls the purse strings:

    "Article I, Section. 8.
    The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;"


    On January 4, 2007, the Democrats regained control of Congress and the national debt was $8,670,596,242,973.04

    In only two years that Pelosi and the Democrats have been in charge, the national debt has grown to $10,699,804,864,612.13

    That is a +23% rise in the two years the Democrats have controlled Congress.

    Now we have Obama and Pelosi and Reid.....

    and Obama's overview of his own $4 trillion $1.75 trillion deficit budget, predicts that, by 2010 -- after the Democrats have controlled congress for four years, the national debt will stand at $17.6 trillion. That is very nearly double the $8.67 trillion debt the Democrats "inherited."

    http://www.docstoc.com/docs/4497817/Obamas-FY2010-Budget



    http://gatewaypundit.blogspot.com/2009/10/us-budget-deficit-triples-under-obama.html

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    The federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week, congressional analysts said Wednesday.

    The Congressional Budget Office estimate, while expected, is bad news for the White House and its allies in Congress as they press ahead with health care overhaul legislation that could cost $900 billion over the next decade.
     
  13. joepistole Deacon Blues Valued Senior Member

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    22,910
    The Democrats have a much better record of fiscal responsibility Mr. Buffalo Roam. They never added six trillion dollars to the national debt in eight years. They never so badly mismanaged the economy as to bring about a reemergence of the Great Depression.

    The debt you now pin on the Democrats belongs to Republicans. They are the ones who created such a horrible economy which necessitated a sizable stimulus. It was the Republicans who removed existing regulations of the financial industry. It was the Republicans who failed to enforce existing regulatory laws. It was the Republicans who committed the US government to trillions of dollars in future unfunded Medicare liabilities, of which now is a burden not only on Democrat budgets, but on all citizens.

    Left hand, meet right hand

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  14. Thoreau Valued Senior Member

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    3,380
    My questions is WHY the hell is the government spending more, and WHERE the hell is this money coming from?

    Take for example the current health bill which will cost $247 BILLION. I don't know about you, but I think that most Americans are happy with their health insurance. And MOST those that aren't happy with the current system aren't happy because they can't afford health insurance. But thats their problem. Not mine or your's. I work. I earn a living. I make sure that I do whatever it is that I have to do to take care of myself and my family. And just because someone else doesn't have the motivation in life to do the same is no reason to totally revamp the entire system and drive the nation in to even more debt just to accomodate a minority.

    The problem comes into "big" government. The liberals (fiscal liberals) want equality over actual quality. Yes, we can all live a somewhat economically equal existance, but it will be a low standard according to their mentality.

    When you take something from the deserving and divide it up to all, that thing lowers in value.
     
    Last edited: Oct 16, 2009
  15. pjdude1219 The biscuit has risen Valued Senior Member

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    so in other words you have no intention of proving your allegations which for the record i have already shown to be bs
     
  16. John99 Banned Banned

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    they both outsourced.
     
  17. pjdude1219 The biscuit has risen Valued Senior Member

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    we want both. we are of the mind set of this is america damn it and we can.

    I'd hardly call families living on inherited wealth deserving. society played a part in these peoples success they owe society for that.
     
  18. Buffalo Roam Registered Senior Member

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    Where are the Democrats getting the money?

    Easy, they are getting it from the Federal Reserve's printing presses, deficit spending to the tune of $1.8 trillion dollars so far this year.

    http://features.csmonitor.com/econo...-forecast-to-be-four-times-last-years-record/


    Seem I was wrong, the Democrats haven't blown the deficit up by 2 time, they have raised it exponentially, by 4 times what Bush's record spending was.
     
  19. joepistole Deacon Blues Valued Senior Member

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    Wrong again Buffalo Roam, the Federal government is getting it from the same place george I and his Republicans got the money...from China.
     
  20. Buffalo Roam Registered Senior Member

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    Really, the Federal Reserve doesn't print money?

    In that you are correct but it issues the authorization to print the money and pays the Treasuary about 4¢ a piece to prints the bills;

    United States Department of the Treasury. "Organization chart of the Department of the Treasury" (PDF). http://www.ustreas.gov/organization/org-chart-122005.pdf. Retrieved 2008-02-17

    The authority of the Federal Reserve Banks to issue notes comes from the Federal Reserve Act of 1913. Legally, they are liabilities of the Federal Reserve Banks and obligations of the United States government. Although not issued by the Treasury Department, Federal Reserve Notes carry the (engraved) signature of the Treasurer of the United States and the United States Secretary of the Treasury.

    Sullivan, Arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, N.J.: Pearson Prentice Hall. pp. 255. ISBN 0-13-063085-3. http://www.pearsonschool.com/index....4&PMDbCategoryId=&PMDbProgramId=12881&level=4.

    Answers.com. "Gold standard". http://www.answers.com/gold standard?cat=biz-fin. Retrieved 2008-02-17.

    U.S. Treasury - FAQs: Legal Tender Status of currency


    http://online.wsj.com/article/SB122973431525523215.html

     
    Last edited: Oct 17, 2009
  21. pjdude1219 The biscuit has risen Valued Senior Member

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    these are budget deficits. the fact that bush refused to put the the wars in the budget skews it. Obama has put the wars in the budget. if you want an honest comparison either remove the war spending from obama's budgets or add the war spending to bush's.
     
  22. Zap Facts > Opinions Registered Senior Member

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    Cut military spending and raise taxes on the rich. Win-win.
     
  23. joepistole Deacon Blues Valued Senior Member

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    I don't know where you are going with this or what the relevance is as the Bureau of Engraving and Printing (Treasury) is constantly destroying and replacing the currency. That does not mean that the government is paying for deficits by printing up new money.

    You should be focusing your attention on M1 and M2, the money supply coupled with another number, the velocity of money. You are pushing the notion of runaway inflation which most experts believe not to be in the cards for at least a very long time.

    Two you like to ignore the powers of the Federal Reserve to control the money supply. As has been pointed out to you on a number of occassions, money supply is a variable controlled by the Federal Reserve. The Federal Reserve can at will control the supply of money by market actions, not by command. So just as quickly as they expand money supply they can take it back in. I think too many folks in the right wing whacko sphere just do not have a good handle on modern finance. They appear to be stuck back in the more primitave financial systems of the Industrial Revolution.
     
    Last edited: Oct 17, 2009

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