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POTUS 45:46: New Year, Same 'Ol Crap.

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trixR4kids said:
Well I sorta agree but I just think that framing it as "we need to worry about the debt" is counter productive and generally leads to austerity or half measure solutions that somehow only favor the 1% and large corporations like how the bailout was handled.
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Any real solution is going to have to involve more revenue and less spending.
 
Re: POTUS 45:46: New Year, Same 'Ol Crap.

mookie1995 said:
Debt will only resolve itself by default one day down the road....

Can't cut spending.
And any new revenue will be spent.

Easy peasy
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Don't need to default. Just need good economic management. The Clinton administration seemed to do just fine - its biggest problem is that we hit the two term limit.
 
5mn_Major said:
Don't need to default. Just need good economic management. The Clinton administration seemed to do just fine - its biggest problem is that we hit the two term limit.
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Mookie thinks that ship has sailed.

Mookie still.feels need is to tax wealth.
 
ScoobyDoo said:
I see West Virginia, Alabama, and Mississippi are high on the list.

I hope they collapse before it's over.
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West Virginia owes it all to Bob Byrd. Mississippi to Trent Lott and Jamie Whitten and I'm not sure about Alabama.

But I've never seen any state turn down federal largesse.
 
Re: POTUS 45:46: New Year, Same 'Ol Crap.

Drew S. said:
Any real solution is going to have to involve more revenue and less spending.
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Yeah and we'll solve the gun issue by giving more guns to 4 year olds.

5mn_Major said:
Don't need to default. Just need good economic management. The Clinton administration seemed to do just fine - its biggest problem is that we hit the two term limit.
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Um... yeah... a lot of what he did lead to the economic disaster of 2008. https://www.businessinsider.com/how-bill-clintons-balanced-budget-destroyed-the-economy-2012-9
 
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Re: POTUS 45:46: New Year, Same 'Ol Crap.

Drew S. said:
Any real solution is going to have to involve more revenue and less spending.
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we can start with a 10-year scaling down of the defense budget. Seems like a target of cutting it in half would be a good starting point.
 
Re: POTUS 45:46: New Year, Same 'Ol Crap.

Drew S. said:
Any real solution is going to have to involve more revenue and less spending.
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Not really. Genuine investment spending (people, infrastructure) more than pays for itself. We can certainly cut the corporate welfare but the way out of the deficits is to finally return to revenue sanity. The 1% are into us for about $10T since Reagan created the tax cut Santa Claus. Claw that back and we are well on our way to fiscal sanity. Not to mention that inequality is very expensive (corruption, crime, cronyism) so a return to egalitarianism will also pay for itself.

The US was led on a 38-year wild goose chase by the supply siders. Verdict's in. Time for the super wealthy to end.
 
Kepler said:
Not really. Genuine investment spending (people, infrastructure) more than pays for itself. We can certainly cut the corporate welfare but the way out of the deficits is to finally return to revenue sanity. The 1% are into us for about $10T since Reagan created the tax cut Santa Claus. Claw that back and we are well on our way to fiscal sanity. Not to mention that inequality is very expensive (corruption, crime, cronyism) so a return to egalitarianism will also pay for itself.

The US was led on a 38-year wild goose chase by the supply siders. Verdict's in. Time for the super wealthy to end.
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No. They're into us for the whole 23 trillion.
 
Re: POTUS 45:46: New Year, Same 'Ol Crap.

trixR4kids said:
Um... yeah... a lot of what he did lead to the economic disaster of 2008. https://www.businessinsider.com/how-bill-clintons-balanced-budget-destroyed-the-economy-2012-9
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The whole premise of that article is wrong. Why did lending practices to the poor work so well for a decade? Likewise, the 'drag' on the economy of balancing the budget also supposedly took 10 years to have an impact. No way. The economy crashed because the Bush administration eliminated oversight of lending practices in 2004/5 on the heels of a housing bubble - tie that to poor tax laws and whammy. All that occured 8 years into the Bush administration. Nope. You cannot blame the great recession on Clinton.
 
5mn_Major said:
The whole premise of that article is wrong. Why did lending practices to the poor work so well for a decade? Likewise, the 'drag' on the economy of balancing the budget also supposedly took 10 years to have an impact. No way. The economy crashed because the Bush administration eliminated oversight of lending practices in 2004/5 on the heels of a housing bubble - tie that to poor tax laws and whammy. All that occured 8 years into the Bush administration. Nope. This is on the Geo Bush administration and congress.
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Why wasn’t that priced into the market :)
 
Re: POTUS 45:46: New Year, Same 'Ol Crap.

ScoobyDoo said:
I never said I want to eliminate the debt or eliminate the deficits. I said we need to worry about it. We need to worry that people actually think the 1.5 trillion they just stole is going to be paid for by economic expansion (which is what the majority of Americans believe). If we started believing that paying off everyone's student debt and giving them free college or tech school for two years would pay for itself I would be 100% onboard. And that's how you pay as you go. You pay as you go BY knowing that supply side is a crock of **** and actually investing in the American People pays dividends.
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I remember when they floated this BS back when I was in college. I wasn't majoring in economics but I couldn't understand how the hell anyone thought this would work. It didn't. And they I couldn't understand how no one seemed to be pointing out what happened was a result of trying the strategy. Like all the mess afterward just came out of nowhere. And the lack of collective memory when they started selling the BS again continues to baffle me
BassAle said:
we can start with a 10-year scaling down of the defense budget. Seems like a target of cutting it in half would be a good starting point.
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Heard some interesting stuff about this a bit ago. Seems like a great idea but the spending drives the economy in places I hadn't considered before. Every time you decrease spending there is an impact. Wish I could remember more specifics but the premise is sound even without links. The money isn't spent into a vacuum.
 
Re: POTUS 45:46: New Year, Same 'Ol Crap.

ScoobyDoo said:
Warren's better than Bernie. She's smarter. She understands policy better. She understands money better. All this **** needs to get paid for.
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I don't disagree, but the average American doesn't dig "smarter". We tried that with Hillary, and it failed.
 
Re: POTUS 45:46: New Year, Same 'Ol Crap.

5mn_Major said:
The whole premise of that article is wrong. Why did lending practices to the poor work so well for a decade? Likewise, the 'drag' on the economy of balancing the budget also supposedly took 10 years to have an impact. No way. The economy crashed because the Bush administration eliminated oversight of lending practices in 2004/5 on the heels of a housing bubble - tie that to poor tax laws and whammy. All that occured 8 years into the Bush administration. Nope. You cannot blame the great recession on Clinton.
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The author is a card carrying loon. Small wonder trix is quoting his articles from 6 years ago! :D
 
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