Are Any Democrats Upset With The High National Debt And Defict Spending?

[tinman01]

Im sorry but this debt we have is a bi-partisan effort. Both parties did to we the people. What is a shame is the party hardliners excusing their own and making excuses. This is also why we will never be ables to recover.

[MTAtech]

The entire discussion about reducing short-term debt in the midst of a severe recession is misplaced. The focus today should be about increasing jobs. To do that, one needs to raise GDP, not decrease it, as cutting government spending does. If you don't believe me, ask Arthur Okun, the economist who studied the relationship between GDP and employment, who is credited with "Okun's Law."

Does long-term debt need to be reduced? Absolutely, but not now, especially when the government can borrow at 1.97%.

By increasing GDP, unemployment will be reduced and with proper tax policy, the nation will grow out of the debt.

[tinman01]

Originally Posted by MTAtech

The entire discussion about reducing short-term debt in the midst of a severe recession is misplaced. The focus today should be about increasing jobs. To do that, one needs to raise GDP, not decrease it, as cutting government spending does. If you don't believe me, ask Arthur Okun, the economist who studied the relationship between GDP and employment, who is credited with "Okun's Law."

Does long-term debt need to be reduced? Absolutely, but not now, especially when the government can borrow at 1.97%.

By increasing GDP, unemployment will be reduced and with proper tax policy, the nation will grow out of the debt.

I can go along with that to a point. But there are a great many places we can make cuts that wont hurt the economy.
Starting with the benefit plans our elected reps enjoy.

[hawkeye2009]

Originally Posted by padcrasher

The "debt" is primarily caused by the Bush tax cuts for the wealthy, compounded by Obama's extension of those same cuts and his own new tax cuts. Other big factors are needless wars, increased unemployment benefits paid out due to the economic downturn, and more people on medicare due to the economic downturn.

It's a right wing "myth" that Obama has these new programs that have increased spending.....Bull crap!

..................

1. discretionary spending has increased 85% under Obama

2. Obamacare adds another $1.3 trillion entitlement

3. Obama has racked up annual deficits of $1.3-$1.6 trillion

4. Obama has increased the debt from $8.6 trillion when he took office to a projected $16.3 trillion in 2013 when he leaves office. That is damn near doubling the national debt in four years at an amount that is unprecedented in world history.

5. Federal revenues have INCREASED over the last 20 years, yet spending has outstripped revenues.

6. Obama could have ended the war in Afghanistan (he had a super majority in the senate and congress), but chose not to do so.


Obama has put us into a giant hole- we must stop digging. That will require-

1. VAT tax
2. Cuts in the military and entitlements
3. Cuts in nearly every foriegn and domestic program
4. Elimination of many federal departments
5. balanced budget amendment

On the "stimulus" side, it will require

1. Cuts in corporate taxes
2. permitting repartriation of $1.3 trillion in US assets in foreign lands
3. expansion of US energy domestic production
4. elimination of many regulations
5. muzzling the EPA
6. firm enforcement of immigration
7. Reconsidering NAFTA and China most favored nation trade status
8. Muzzling the trial lawyers association
9. national right to work law

[MTAtech]

Originally Posted by tinman01

I can go along with that to a point. But there are a great many places we can make cuts that wont hurt the economy.
Starting with the benefit plans our elected reps enjoy.

1) Do you know what those benefit plans are and why do they deserve cutting?

2) The amount saved on reducing benefits to 535 members of Congress and Senators is negligible.

[GregW]

Not a bit so long as the debt is retired with very high income taxes on the top 10% after the economy recovers.

[MTAtech]

Originally Posted by hawkeye2009

..................

1. discretionary spending has increased 85% under Obama

2. Obamacare adds another $1.3 trillion entitlement

3. Obama has racked up annual deficits of $1.3-$1.6 trillion

4. Obama has increased the debt from $8.6 trillion when he took office to a projected $16.3 trillion in 2013 when he leaves office. That is damn near doubling the national debt in four years at an amount that is unprecedented in world history.

5. Federal revenues have INCREASED over the last 20 years, yet spending has outstripped revenues.

6. Obama could have ended the war in Afghanistan (he had a super majority in the senate and congress), but chose not to do so.


Obama has put us into a giant hole- we must stop digging.

1) Discretionary spending has NOT increased 85% under Obama, as Politifacts verifies and rates the claim:

2) The ACA (Obamacare) decreases the cost of health care, not increases it, according to the CBO.
3) The increased deficit is caused by the economic downturn, not any policies under Obama. To underscore that point, the CBO two weeks before Obama was inaugurated, projected the 2009 deficit at $1.3 trillion. Obama must have been a magician raising spending before he was President.
4) You are erroneously including 2009, which was under Bush, as Obama's debt and again, the majority of the deficit is the economic downturn and extending the Bush tax-cuts.
5) Federal revenues have dropped and are now about 14% of GDP, the lowest in many decades. Claiming "Federal revenues have INCREASED over the last 20 years, yet spending has outstripped revenues," is dishonest. This is only true if you do not adjust for inflation and account for population growth. Hucksters that claim that federal always fail to do that. Besides, after the Bush tax-cuts, revenues have dropped.




Moreover, under Clinton, taxes were raised and the government ran a surplus for 4 straight years -- undercutting your claim entirely that "spending has outstripped revenues."