Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
All I know is economy is smaller because we have more people unemployed, but it doesn't give the government the reason to increase the budget more than 50%, close 100% in 5 years.
It doesn’t answer any of my questions. Please try again.
Quote:
If government is run like the private sector, we would not have this debate.
Mussolini would be proud.
Quote:
Originally Posted by Quick Enough
I find it ironic that you ask, "How was the economy doing in 2006?". According to many posters on here the entire 8 years under Bush was a disaster. They keep repeating it over and over.
Are you saying that the 2006 economy was doing so well we didn't need to increase the debt limit?
Instead of speaking for others, how about, for a change, speak for self? How was the economy doing in 2006? As far as I’m concerned, it was one of the only two years when federal tax revenue reached the respectable 18% (of the GDP), which could have been a tool towards a balanced budget as opposed to raising debt ceiling. No?
He's not even a good liar. That's that really sad part.
I saw a clip from Reid back in 2007:
Given the explosion of debt in recent years, it is long past time for Washington to change the course and adopt a new fiscal policy. After all, the future of our economy and our Nation is at stake… If my Republican friends believe that increasing our debt by almost $800 billion today, and more than $3 trillion dollars over the last 5 years, is the right thing to do, they should be upfront about it. They should explain why they believe more debt is good for our economy.
How can the Republican majority and this Congress explain to their constituents that trillions of dollars of new debt is good for our economy? How can they explain that they think it is fair to force our children, our grandchildren, and our great grandchildren to finance this debt through higher taxes? That is what will have to happen.
Why is it right to increase this Nation’s dependence on foreign creditors? They should explain this. Maybe they can convince the public they are right. I doubt it, because most Americans know that increasing the debt is the last thing we should be doing. After all, I repeat, the baby boomers are about to retire. Under the circumstances, any credible economist would tell you we should be reducing debt , not increasing it.
Again, on debt –Thomas Jefferson. These are his words: “And to preserve our independence, we must not let our rulers load us with perpetual debt . We must make our election between economy and liberty–or profusion and servitude.” That was President Thomas Jefferson. …We are being asked to do what should not be asked of us, to increase the debt to almost $9 trillion. I hope everyone walking down to these desks today will understand what they are doing, what they are doing to our country.
now that 0bama is president Reid and the other dems seem happy with perpetual debt. I was furious when Bush ran up our debt, and I'm even more furious now. time for your folks on the left to take off your partisan hats, and do what is right for the nation.
Given the explosion of debt in recent years, it is long past time for Washington to change the course and adopt a new fiscal policy. After all, the future of our economy and our Nation is at stake… If my Republican friends believe that increasing our debt by almost $800 billion today, and more than $3 trillion dollars over the last 5 years, is the right thing to do, they should be upfront about it. They should explain why they believe more debt is good for our economy.
How can the Republican majority and this Congress explain to their constituents that trillions of dollars of new debt is good for our economy? How can they explain that they think it is fair to force our children, our grandchildren, and our great grandchildren to finance this debt through higher taxes? That is what will have to happen.
Why is it right to increase this Nation’s dependence on foreign creditors? They should explain this. Maybe they can convince the public they are right. I doubt it, because most Americans know that increasing the debt is the last thing we should be doing. After all, I repeat, the baby boomers are about to retire. Under the circumstances, any credible economist would tell you we should be reducing debt , not increasing it.
Again, on debt –Thomas Jefferson. These are his words: “And to preserve our independence, we must not let our rulers load us with perpetual debt . We must make our election between economy and liberty–or profusion and servitude.” That was President Thomas Jefferson. …We are being asked to do what should not be asked of us, to increase the debt to almost $9 trillion. I hope everyone walking down to these desks today will understand what they are doing, what they are doing to our country.
now that 0bama is president Reid and the other dems seem happy with perpetual debt.
Obama was right then. The Republicans spent too much money which is a major contributor to why they were tossed out of office. The Democrats misunderstood that part and added even more debt on top of what was already too much.
Republicans... a reason they didn't play the same drama then, despite "the good times"? Were they not "the good times" when they could have easily balanced the budget and not felt the need to raise the debt ceiling?
There hasnt been a balanced budget for probably 80+ years now..
Quote:
Originally Posted by EinsteinsGhost
BTW, do you understand why deficits are generally higher during recessions? Let me illustrate this with an example:
1983: Deficit was 233% of the deficit in 1981
Why?
Of course deficits are higher during a recession due to a lack of income, this is COMPOUNDED by increasing spending. Sit here and pretend only 1 side of the equation is responsible because you like the fact government spending has increased 44% in 4 years.
I find it ironic that you ask, "How was the economy doing in 2006?". According to many posters on here the entire 8 years under Bush was a disaster. They keep repeating it over and over.
Are you saying that the 2006 economy was doing so well we didn't need to increase the debt limit?
Remember 2007, the economy was doing fantastic, its how the Democrats were able to pass through minimum wage increases. Its how Democrats justified the increase "the economy is strong, businesses can substain the increased wages". Now they want to pretend the whole 8 years was a complete failure.
Obama was right then. The Republicans spent too much money which is a major contributor to why they were tossed out of office. The Democrats misunderstood that part and added even more debt on top of what was already too much.
I agree the GOP spent too much money. Not one penny should have been sent to New Orleans for Katrina victims. The state should have footed the bill.
There hasnt been a balanced budget for probably 80+ years now..
If true, then the ridiculousness of trying to turn that ship around on a dime is even greater, much less in times when the focus should be on economic growth as opposed to the push for ideologies. No?
Quote:
Of course deficits are higher during a recession due to a lack of income, this is COMPOUNDED by increasing spending. Sit here and pretend only 1 side of the equation is responsible because you like the fact government spending has increased 44% in 4 years.
The reason I brought it up was because you missing the point that recession has a LOT to do with the deficit, and your idea of trying to balance the budget while the tax revenues are substantially lower. But then, if it were simply about balancing the budget, you won't be out here defending the republicans who didn't consider that option in 2001 and in 2006, and every other year through the $3.14 Trillion dollar spending they engaged in FY2008.
Amusing that you're pointing at me as sticking to ONE side of the coin, when it is people like you who need to get a clue that balancing the budget can't be done with the idea of being a one-trick pony. Budget requires consideration of spending AND revenue. But then, that would require TWO aspects that you would rather see as one (spending)? No?
Remember 2007, the economy was doing fantastic, its how the Democrats were able to pass through minimum wage increases. Its how Democrats justified the increase "the economy is strong, businesses can substain the increased wages". Now they want to pretend the whole 8 years was a complete failure.
And assuming 2006 was as well. So, why were republicans pushing for raising debt ceiling?
And assuming 2006 was as well. So, why were republicans pushing for raising debt ceiling?
Because they were irresponsible. Now we're seeing irresponsible plus some.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
