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Old 09-25-2017, 09:48 AM
 
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Ive heard few people say its only booming right now, because of the crazy low interest rates.
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Old 09-25-2017, 09:56 AM
 
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Originally Posted by rstevens62 View Post
Ive heard few people say its only booming right now, because of the crazy low interest rates.
Low interest rates are the new normal.

Federal Reserve Bank of San Francisco | New Evidence for a Lower New Normal in Interest Rates

http://www.frbsf.org/economic-resear.../wp2017-07.pdf

https://www.forbes.com/sites/greatsp.../#7560a0e8398a
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Old 09-25-2017, 10:40 AM
 
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They're not really "new" rather a return to the norm.

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Old 09-25-2017, 11:00 AM
 
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The US economy is actually doing pretty well vs most other countries right now.

But yes, we do spend an obscene amount of money on defense and military spending. Frankly, that's the thing that absolutely pisses me off the most about our Congress... They will fight tooth and nail and even threaten to shut down the government over passing something that costs $10 Billion.

$10 Billion is absolutely NOTHING in regard to what we spend on defense and war.

https://www.nationalpriorities.org/a...t-in-pictures/

Keep in mind that this budget does NOT include monies directed to our ongoing wars... That is kept off books.
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Old 09-25-2017, 11:24 AM
 
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No one is mentioning the almost $20 Trillion debt we owe. The last time we were debt free was under Andrew Jackson's term.

No one has figured out how we will pay this back when we can't even balance the current operating budget without adding more to the deficit. When times are good (like under Obama and now under Trump) we should be incurring a budget surplus and pay off part of the debt. But no one is looking at the long term. Politicians are incapable of cutting spending.
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Old 09-25-2017, 11:47 AM
 
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Originally Posted by Bailey340 View Post
No one is mentioning the almost $20 Trillion debt we owe. The last time we were debt free was under Andrew Jackson's term.

No one has figured out how we will pay this back when we can't even balance the current operating budget without adding more to the deficit. When times are good (like under Obama and now under Trump) we should be incurring a budget surplus and pay off part of the debt. But no one is looking at the long term. Politicians are incapable of cutting spending.
The national debt will never be paid off. It can be paid down. And of course that money has to come from the private sector.
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Old 09-25-2017, 12:07 PM
 
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Gosh! Guns vs Butter. That was a cliche and in my Econ 101 textbook back in 1977.

That military spending for 80+ years created an unprecedented prosperity in the United States. Nobody is rolling tanks over US soil or bombing our cities to rubble destroying the economy. We spent the Soviet Union into economic collapse. In the grand scheme of things, it's cheap money considering the economic and political stability it has bought. Our wars today are largely bloodless. 2 million people died in the Battle of Stalingrad. Another 1.6 million in the Battle of Moscow. 1.2 million in the WW I Battle of the Somme. The US lost 3,000 people and a couple of office towers on Sept 11. We don't have war here. We pay money so war is fought thousands of miles away. We lost less than 5,000 troops in Iraq over the last 20 years and another 2,500 in Afghanistan. I'm pretty confident that even that dolt Trump won't let some nut job in North Korea nuke the United States.

It's cheap money compared to the alternative.
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Old 09-25-2017, 12:09 PM
 
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Originally Posted by Hoonose View Post
The national debt will never be paid off. It can be paid down. And of course that money has to come from the private sector.
Sure it can be paid off. The United States has absurdly low tax rates. If we set the tax rates to align with any other first world country, the debt would go away fairly quickly.
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Old 09-25-2017, 12:25 PM
 
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Sure it can be paid off. The United States has absurdly low tax rates. If we set the tax rates to align with any other first world country, the debt would go away fairly quickly.
I sure won't vote for you! I like my job, my community, my investments and riches!
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Old 09-25-2017, 12:30 PM
 
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The US economy doesn’t suck at all. Exhibit A is stock markets. Worldwide, markets are just now creeping towards their 2007 highs. In the US, markets are 60% above their 2007 peak.

What does suck is our inability to cohere and converge towards projects of compelling national interest, be it healthcare reform, infrastructure repair/development, or the pension/retirement malaise. Defense spending is a factor, but there are greater inhibiting factors. By way of critique from the left, which I believe is correct, we have an aversion to centrally planned anything, single-payer/source-anything. By way of critique from the right, which I also believe is correct, we have ubiquitous inefficiency, over-regulation and bloat in any substantial project, be it new rail for mass-transit or a national health-insurance scheme.
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