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Old 04-08-2013, 12:15 PM
 
39,086 posts, read 20,179,833 times
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Are we still arguing fault instead of looking at the results and changing the game plan.
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Old 04-08-2013, 12:33 PM
 
Location: Barrington
45,439 posts, read 33,752,175 times
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Quote:
Originally Posted by pghquest View Post
So let me get this straight, balanced budgets arent the end all success, but you continue to waa waa waa about deficits and debt.

Oooh wait, you only do that when we're discussing a Republican President.. But somehow you do a 180 when discussing Democratic ones because your little puppet masters told you that debt turns good...

Obama is this you? You know, 6 years ago you claimed debt was irresponsible, now its not only fantastic, but it will grow the economy.. haha. You cant even keep your own stories straight from one posting to another..
At the time the Constitution came into effect, the U.S. had a significant debt, primarily associated with the Revolutionary War. Debt is the American way.

Eisenhower was the last Republican to submit a balanced budget and did so 3 times during his 8 years in office. In 1959, he incurred the biggest peacetime budget deficit in American history.

Reagan ran on the promise of a balanced budget yet never, not once, submitted a balanced budget. ( Reagan also hold the record for the number of lifts to the debt ceiling.)

What precluded Bush 2 from submitting a balanced budget when Republicans held a majority?

Had anyone ( including Bush) had a clue of the cost of war how many would have favored going to war?
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Old 04-08-2013, 12:40 PM
 
48,516 posts, read 83,559,428 times
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Public debt its the people overall because we elected those spending. Politics of vote gettting has become a matter of who promises who what from taxes and borrowing much like what caused Greece's problems. Private its the individual as always.
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Old 04-08-2013, 12:42 PM
NCN
 
Location: NC/SC Border Patrol
21,135 posts, read 21,793,649 times
Reputation: 23215
"Is it the corporations that buy the politicians?
Is it the politicians?"

Those two would get my vote on the responsible people that have the power to do something about it.

NAFTA should never have been signed. Banks should never have had their arms twisted to make loans. We need to have taxes levied on those companies that are not loyal to America. Welfare, both corporate and personal, should be harder to get. Our tax dollars should never be used to help private individuals or companies.

But the biggest drain on our tax dollars are the handouts to other countries. Anyone that borrows money from China to give to another country thus making our taxpayers responsible for it should be impeached. That is an irresponsible practice.

Borders need to be closed and then our citizens could be the ones with jobs. No amnesty--just do it.

Last edited by NCN; 04-08-2013 at 12:50 PM..
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Old 04-08-2013, 12:46 PM
 
Location: Barrington
45,439 posts, read 33,752,175 times
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Quote:
Originally Posted by Midpack View Post
All to some extent, no one group...looking to blame one group or another is part of the problem in the US IMO.
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Old 04-08-2013, 01:10 PM
 
Location: Barrington
45,439 posts, read 33,752,175 times
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Quote:
Originally Posted by Robin Rossi View Post
Jimmy Carter and his Community Redevelopment ACT, which forced lenders to give mortgates to unqualified "borrowers" that resulted in the real-estate market collapse.
Don't be silly.

The underwriters of the most toxic mortgages during the bubble were not commercial banks and had nothing to do with CRA. Those toxic mortgages did not qualify for acquisition by FNMA/FHLMC and thus their guarantee.

A substantial portion of toxic mortgages did however wind up in whole or in part in CDOs created by a handful of Wall Street investment banks. Those investments were rated AAA by independent rating agencies and for a brief period of time, domestic and global investors could not buy enough of them, given the ROI. All ignored their own due dilly and accepted the ratings as gold.
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Old 04-08-2013, 01:12 PM
 
18,656 posts, read 12,075,485 times
Reputation: 10143
Quote:
Originally Posted by pghquest View Post
And its been recognized that you dont ever know what the hell you are talking about because once again, the tax cuts INCREASED REVENUES.

Let alone your posting didnt even begin to address the question raised by the OP because tax cuts isnt spending which is what creates debt...

Shocking, isn't it? MTA pulls out that tired, fallacious graph again!

Even Obama admitted that lowering taxes increases revenue, but supported tax increases "out of fairness".

When Obama leaves office, the national debt will be at $22 trillion. That is an increase of $12-$13 trillion. It is shocking that the liberals feel as though Obama's debt is perfectly fine, while that of Bush (one third that of Obama's over an 8 year period) was outrageous.

Bush was fiscally irresponsible. However, Obama makes Bush look "thrifty" in comparison.
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Old 04-08-2013, 01:20 PM
 
117 posts, read 137,134 times
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Mandatory spending/entitlement programs especially Medicare, social security, and medicaid Are the biggest federal gov. Expenditures. Since people act in their own self interests you can't necessarily blame them for usong/abusing those programs but those who gave it to them.

http://research.stlouisfed.org/publi...1/Thornton.pdf
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Old 04-08-2013, 05:22 PM
 
Location: Florida
21,603 posts, read 11,042,231 times
Reputation: 7850
Quote:
Originally Posted by middle-aged mom View Post
I have no recollection of Greenspan screaming about the housing bubble. I do recall in 2005, at the peak of the bubble, he emphasized that he sees no sign of a nationwide housing bubble, but he acknowledged concerns over "froth" in the market" and pointed to a big increase in speculation in homes - particularly in second homes.

Greenspanís froth not bubble, 5 years later - Lansner on Real Estate : The Orange County Register
Wrong. I specifically remember Greenspan over many years , in the Bush years saying there was a huge bubble in the housing market and it would be one heck of a burst when the bubble breaks.. when all was said and done in after the bubble burst, I remember Greenspan saying I didn't know it was as bad as it is.. huh!! Now we have Obama making things worse with Obamacare and freebees.. we are in big trouble. The banks need constant proppiing up by government printed money that buys up 60 billion toxic assets a month from this too big to fail banks.. it is a run away train..All so the poor could own a home they could not afford. Barney Frank did not want Bush to do an investigation on the housing market stating all was good with Fannie Mae and Freddie Mac.. they all are a bunch of idiots to let this happen on such a great scale... all because they could not comprehend the value of a house dropping and allowing millions of people to buy a home they could not afford in the first place.

If they did not buy the house at the high price, the value of homes would have to drop in order to sell them.. Because of the mortgages given , the buyers signed the dotted line anyway. No one broke their arm.
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Old 04-08-2013, 05:37 PM
 
Location: Florida
21,603 posts, read 11,042,231 times
Reputation: 7850
Quote:
Originally Posted by texdav View Post
Public debt its the people overall because we elected those spending. Politics of vote gettting has become a matter of who promises who what from taxes and borrowing much like what caused Greece's problems. Private its the individual as always.
Obamacare is owned by the dems because they pushed it through. Hello ot more part time jobs and more unemployment because of it..

More money going into healthcare and less money being spent in the overall business economy. The healthcare will eat up a good portion of the people's paycheck.
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