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I think we need tax increases but they don't have to be extreme.
As a nation we've been to this rodeo before. Both during World War II and the 1980's we had extremely high budget deficits.
Yes taxes need to be raised and government spending needs to be reined in. But the single biggest thing that will cut down the deficit is a long term period of high economic growth. Unless we can get a new wave of technical and scientific growth going we're going to be this economic malaise for quite some time.
The sad thing is we are trashing teacher and cutting educational funding at time when we should be doubling down and investing more in education.
We'd still have a military that is two times more powerful then the rest of the world combined, and we could balance the budget, no need to touch anything else.
That doesn't mean we shouldn't touch everything else. I'm for extending social security retirement age, capping medicare costs, fixing the corporate tax code and lowering the rate.
But the single biggest thing that will cut down the deficit is a long term period of high economic growth. Unless we can get a new wave of technical and scientific growth going we're going to be this economic malaise for quite some time.
We want to cut public education funds to the bone and cut taxes for corporations that move millions of jobs to China. Not exactly a recipe for "high economic growth" and "technical and scientific growth" is it?
The fed issues currency at the behest of our "government" already.
We need to disconnect them completely from the money supply, not continue to enable them, so they can pay for wars and inflate bubbles by printing money out of nowhere.
On the debt and to put it simply in bumper sticker terms:
"It's the spending, stupid"
Last edited by Frank DeForrest; 02-27-2011 at 05:33 PM..
I find it interesting that this topic is suddenly at the forefront, but virtually IGNORED while Bush was running up the deficit and operating with a blank checkbook on military spending. Again, the rising deficit and spending were NOT headline news when Bush was turning the surplus he started with into a record deficit and engaged in out-of-control spending for the unnecessary wars he lied to engage this country in.
The deficit and spending are not the problem, but the Republican narrative is. Bush and Republicans left a tremendous mess. They engaged this country in two wars that were unnecessary. They ignored the domestic agenda and allowed it to fall into crisis mode. They ran up the deficit after given a surplus and spent mightily. Unfortunately, we have to spend ourselves out of this Republican-created mess. Democrats are trying to solve these problems. Republicans simply want Obama to fail and have no plans other than to help the privileged few. This is clear.
The fed issues currency at the behest of our "government" already.
We need to disconnect them completely from the money supply, not continue to enable them, so they can pay for wars and inflate bubbles by printing money out of nowhere.
On the debt and to put it simply in bumper sticker terms:
"It's the spending, stupid"
Our currency only exists if we take on debt to purchase it. I would rather be able to fight the spending battle with debt free, non-bank controlled currency.
The problem we have now is we take on national debt in order to have currency, the banks borrow it, the money gets lent into the system with fractional reserve lending. We pay the interest at every stage.
Why do we need to pay so many layers of interest just to have a simple medium of exchange?
I find it interesting that this topic is suddenly at the forefront, but virtually IGNORED while Bush was running up the deficit and operating with a blank checkbook on military spending. Again, the rising deficit and spending were NOT headline news when Bush was turning the surplus he started with into a record deficit and engaged in out-of-control spending for the unnecessary wars he lied to engage this country in.
The deficit and spending are not the problem, but the Republican narrative is. Bush and Republicans left a tremendous mess. They engaged this country in two wars that were unnecessary. They ignored the domestic agenda and allowed it to fall into crisis mode. They ran up the deficit after given a surplus and spent mightily. Unfortunately, we have to spend ourselves out of this Republican-created mess. Democrats are trying to solve these problems. Republicans simply want Obama to fail and have no plans other than to help the privileged few. This is clear.
DNC talking points from 2008, good plan
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