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Old 11-09-2012, 06:30 PM
 
69,372 posts, read 53,622,092 times
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Obamas own budget projections show we'll exceed $20T on his watch. Will you be whining 10x as much as you did under Bushs $250B yearly deficits? Or will you be celebrating all of the handouts he gave everyone while trying to place blame elsewhere?

You guys should be so proud.. $12T projected debt added in only 8 years.. Wow.. Lets go for more!!!
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Old 11-09-2012, 06:42 PM
 
3,008 posts, read 4,167,339 times
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Quote:
Originally Posted by pghquest View Post
Obamas own budget projections show we'll exceed $20T on his watch. Will you be whining 10x as much as you did under Bushs $250B yearly deficits? Or will you be celebrating all of the handouts he gave everyone while trying to place blame elsewhere?

You guys should be so proud.. $12T projected debt added in only 8 years.. Wow.. Lets go for more!!!
Debt or deficit? Make up your mind.
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Old 11-09-2012, 06:44 PM
 
395 posts, read 369,614 times
Reputation: 362
Your average liberal's approach to economics is rooted in theories of social justice and not actually economics so it's no surprise that they shrug off a 20T debt.

Face it pgh, America's best days are behind her. There's nothing we can do about it. Well almost nothing but I don't want to say out loud what we could actually do............
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Old 11-09-2012, 06:47 PM
 
1,251 posts, read 2,128,268 times
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Originally Posted by db77 View Post
Well almost nothing but I don't want to say out loud what we could actually do............
Just say you want to stage a violent coup. It's been implied on C-D by others a whole bunch of times already.
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Old 11-09-2012, 06:52 PM
 
Location: San Francisco
9,033 posts, read 8,378,605 times
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The tax increases and spending cuts in the "fiscal cliff" scenario, if they go through unchanged (which they will, since Boehner & Co. will never compromise on taxes), will cut the deficit to 1% of GDP by 2017 and will cut $7T from the cumulative deficit over the next decade.

If you're really serious about debt reduction, you will welcome this. Austerity is good, right?
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Old 11-09-2012, 06:53 PM
 
395 posts, read 369,614 times
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Quote:
Originally Posted by ERS-One View Post
Just say you want to stage a violent coup. It's been implied on C-D by others a whole bunch of times already.

Well if you have any ideas of how we can pay off the 16 trillion in debt we owe and get our politicians to actually respect us I'm all ears........
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Old 11-09-2012, 06:55 PM
 
395 posts, read 369,614 times
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Quote:
Originally Posted by pch1013 View Post
The tax increases and spending cuts in the "fiscal cliff" scenario, if they go through unchanged (which they will, since Boehner & Co. will never compromise on taxes), will cut the deficit to 1% of GDP by 2017 and will cut $7T from the cumulative deficit over the next decade.

If you're really serious about debt reduction, you will welcome this. Austerity is good, right?

Austerity is a beautiful word pch, just not one I'm sure that anyone in the fed govt knows.
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Old 11-09-2012, 06:57 PM
 
Location: Where they serve real ale.
7,249 posts, read 6,413,124 times
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As percentage Reagan did much worse. Besides, we're more than likely to get a grand bargain now so your projections are even less accurate than you think. The only problem is the grand bargain will crash the economy. We can't cut out $1 trillion per year from our economy without causing a very large recession.
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Old 11-09-2012, 07:03 PM
 
69,372 posts, read 53,622,092 times
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Originally Posted by msamhunter View Post
Debt or deficit? Make up your mind.
The deficit ads to the debt. Let me guesss, you voted for Obama and dont know that..
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Old 11-09-2012, 07:05 PM
 
69,372 posts, read 53,622,092 times
Reputation: 9357
Quote:
Originally Posted by pch1013 View Post
The tax increases and spending cuts in the "fiscal cliff" scenario, if they go through unchanged (which they will, since Boehner & Co. will never compromise on taxes), will cut the deficit to 1% of GDP by 2017 and will cut $7T from the cumulative deficit over the next decade.

If you're really serious about debt reduction, you will welcome this. Austerity is good, right?
You could confiscate all wealth of the rich, and it wont come close to cutting the debt in a meaningfull way. How exactly do you suggest making $700B a year in taxes? Stop and think man..
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