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Despite all the delusional fantasies courtesy of the Rushie and Fox Show, this video is an oasis of reality in the Beck fabricated alternate reality that pervades way too much of the economic and political debate in this country.
1. BOTH Gipper and Senior had enough sense that the surest way to reduce debt, especially during a recession is,...., TO RAISE TAXES,.., STUPID.
2. It was under a DEMOCRATIC CONGRESS along with Senior as President, that PayGo was established. This meant that all programs that can be implemented MUST BE PAID FOR IN FULL.
3. It was under a DEMOCRATIC PRESIDENT with a GOP congress that we had one of the few SURPLUSES in recent American history.
4. It was under Junior and the GOP Congress that fiscal responsibility was tossed out the window, and irresponsibility was became the name of the game.
5. The revelation WHY President Obama was so focused on health reform, instead of the economy, for much of his freshman year. It was a pretty good reason, even though many, (myself included) did not agree with the way he want about things.
In conclusion, given 2, 3, 4 & 5, one side of the aisle really has as much claim to fiscal responsibility as one media entity has to fair & balanced,.., in short ZERO.
And those yelling about the debt, cannot cry and whine about taxes. Do the math, debt is created by revenues being lower than spending. The way to reduce debt is to either cut spending or raise taxes.
Since most of the spending goes to health care for seniors (the most active voting demographic) plus one entitlement (yes despite their current rants against entitlements) that was created by the administration of fiscal irresponsibility and also defense, spending reduction is not likely to happen since it would politically costly for any party and politician.
The tax cuts under Junior were generally for the rich. Yes that 1% of the population making 250K and over that feels they are middle classers just barely making ends meet.
So either they have to be the class of fiscal responsibility and pay tax rates they did a long, long time ago (wow a decade feels like a century ago) OR they will be the ones dooming generations of Americans, our children, grandchildren, great gran,.., well you get the idea.
Despite all the delusional fantasies courtesy of the Rushie and Fox Show, this video is an oasis of reality in the Beck fabricated alternate reality that pervades way too much of the economic and political debate in this country.
1. BOTH Gipper and Senior had enough sense that the surest way to reduce debt, especially during a recession is,...., TO RAISE TAXES,.., STUPID.
2. It was under a DEMOCRATIC CONGRESS along with Senior as President, that PayGo was established. This meant that all programs that can be implemented MUST BE PAID FOR IN FULL.
3. It was under a DEMOCRATIC PRESIDENT with a GOP congress that we had one of the few SURPLUSES in recent American history.
4. It was under Junior and the GOP Congress that fiscal responsibility was tossed out the window, and irresponsibility was became the name of the game.
5. The revelation WHY President Obama was so focused on health reform, instead of the economy, for much of his freshman year. It was a pretty good reason, even though many, (myself included) did not agree with the way he want about things.
In conclusion, given 2, 3, 4 & 5, one side of the aisle really has as much claim to fiscal responsibility as one media entity has to fair & balanced,.., in short ZERO.
And those yelling about the debt, cannot cry and whine about taxes. Do the math, debt is created by revenues being lower than spending. The way to reduce debt is to either cut spending or raise taxes.
Since most of the spending goes to health care for seniors (the most active voting demographic) plus one entitlement (yes despite their current rants against entitlements) that was created by the administration of fiscal irresponsibility and also defense, spending reduction is not likely to happen since it would politically costly for any party and politician.
The tax cuts under Junior were generally for the rich. Yes that 1% of the population making 250K and over that feels they are middle classers just barely making ends meet.
So either they have to be the class of fiscal responsibility and pay tax rates they did a long, long time ago (wow a decade feels like a century ago) OR they will be the ones dooming generations of Americans, our children, grandchildren, great gran,.., well you get the idea.
Great. All blame and no solutions. Here are your solutions.
1. Cut all social programs 50% today
2. Tie the budget to 75% of the previous year's revenue
3. eliminate congressional and federal credit cards
4. allow line item veto
5. eliminate ear marks
6. flat personal income tax
7. cut corporate taxes
8. Allow domestic coal and oil exploration with a 5% tax on fossil fuels directed specifically to state infrastructure for renewable energy
9. kill "cap and trade"
Let's not blame (BTW Dick Nixon had one of those two "surpluses" as well- given the remaining years of both Nixon and Clinton with regard to spending, I would not give either of them a gold star), let's act.
The problem is not on the "intake" side of the equation, it is on the spending side. We could raise taxes to 100% and the feds would still blow it all, not pay down the debt a nickel, and want more. WE NEED TO STOP SPENDING. A child knows when your pockets are empty, you cannot buy any more candy. Why does a child understand this, but not the feds?
Great. All blame and no solutions. Here are your solutions.
No blame, just pointing out the facts. The 1st step in solving a problem, is getting out of the denial. The 2nd is researching the history and source of the problem. Once this is done and the problem has been fully detailed and analyzed the next step is developing and experimenting with solutions. Gotta have some sort of scientific method.
Quote:
Originally Posted by hawkeye2009
. Cut all social programs 50% today
No matter how much they claim to hate government interference in their life, their is as much chance the (by most accounts) aging Americans, who like to party and sip tea, will graciously accept cuts to their medical & social security as Hussein nalin' Sarah Palin with a love child.
Quote:
Originally Posted by hawkeye2009
2. Tie the budget to 75% of the previous year's revenue
I believe the Dems have once again passed PayGo in Congress, despite all the Repubs voting against this. So whatever they implement, it will be paid for.
Quote:
Originally Posted by hawkeye2009
3. eliminate congressional and federal credit cards
Wouldn't this be discriminatory?
Quote:
Originally Posted by hawkeye2009
4. allow line item veto
The President indicated this was something he was open to when at the GOP Q&A.
Many of the top earners already use loopholes to pay tax rates lower than many people who earn much lower than them.
Quote:
Originally Posted by hawkeye2009
7. cut corporate taxes
Shouldn't be unconditional, since as we see with the bank bailouts, they would go back to business as usual. They should get tax relief for domestic hiring of American citizens.
Quote:
Originally Posted by hawkeye2009
8. Allow domestic coal and oil exploration with a 5% tax on fossil fuels directed specifically to state infrastructure for renewable energy
I disagree. We should make a strong push to develop a renewable, sustainable, eco-friendly energy sources. Nuclear as in nuclear fusion research and development is a form of nuclear, I hope (but doubt) that the President was talking about as an alternative energy source.
Quote:
Originally Posted by hawkeye2009
9. kill "cap and trade"
On this I whole heartedly agree.
Quote:
Originally Posted by hawkeye2009
Let's not blame (BTW Dick Nixon had one of those two "surpluses" as well- given the remaining years of both Nixon and Clinton with regard to spending, I would not give either of them a gold star), let's act.
I agree, and I nor did the video blame anyone. It just pointed out THE FACTS. And I would expect an honorable and integral poster as yourself will likewise point out the facts when false blame and baseless accusations are made about the current President and his administration.
Quote:
Originally Posted by hawkeye2009
The problem is not on the "intake" side of the equation, it is on the spending side. We could raise taxes to 100% and the feds would still blow it all, not pay down the debt a nickel, and want more. WE NEED TO STOP SPENDING. A child knows when your pockets are empty, you cannot buy any more candy. Why does a child understand this, but not the feds?
There IS a problem on the intake side as 1st of the previous administration's Treasury Secretary was fired when he brought that up. Both Reagan and Senior had enough sense when to: drop with ideological talking points; face reality and raise taxes when the situation demands it. Following the party line will sometimes lead you off a cliff.
Obama has passed just signed into law PayGo once again.
Therefore whatever program Congress implements, it will have to pay for.
Mind you, the GOP voted against this.
There is also a rationale for lifting the amount of money we have to borrow.
"But the bill also lifted the cap on the amount of money the U.S. can borrow by $1.9 trillion – to a total of $14.3 trillion. The ceiling was lifted from $12.4 trillion to keep the U.S. from going into default."
No blame, just pointing out the facts. The 1st step in solving a problem, is getting out of the denial. The 2nd is researching the history and source of the problem. Once this is done and the problem has been fully detailed and analyzed the next step is developing and experimenting with solutions. Gotta have some sort of scientific method.
The R's were opposed to raising the national debt limit by $1.9 Trillion. See the chart detailing runaway Dem spending in the above link.
So the lesson we should take from this is that Republicans believe credit default is an appropriate "solution" to "runaway Dem spending"?
Quote:
No matter how much they claim to hate government interference in their life, their is as much chance the (by most accounts) aging Americans, who like to party and sip tea, will graciously accept cuts to their medical & social security as Hussein nalin' Sarah Palin with a love child.
Well I think you should actually watch the video 1st.
After that take a look here. This is not only testimony from Alan Greenspan himself but number crunching from the non partisan CBO which both sides of the aisle use and respect.
Quote:
Originally Posted by InformedConsent
The R's were opposed to raising the national debt limit by $1.9 Trillion. See the chart detailing runaway Dem spending in the above link.
Not being partisan but if fiscal discipline was being practiced in the 1st place we would not be in this situation and the GOP probably would have remained in power.
Most economists I've read say the way to get out of a recession is to spend money. If the private sector is not pumping money into the economy then the gov. has to, particularly on endeavors that create jobs like infrastructure or getting a clean energy economy going.
Raising taxes would prolong or make a recession worse, but the gov. has to spend money even if it increases debt and we have to borrow more foreign money.
So the lesson we should take from this is that Republicans believe credit default is an appropriate "solution" to "runaway Dem spending"?
Not increasing the debt level does not create a credit default, it creates a lack of ability to borrow ADDITIONAL debt but old debt indeeds paid and covered...
It sounded all cool when you said it, if you ignore the fact that its wrong..
Not being partisan but if fiscal discipline was being practiced in the 1st place we would not be in this situation and the GOP probably would have remained in power.
Why anyone would blame the Dem Congress's exponentially increasing spending and debt on the GOP is beyond me. Then again, our public schools do do a pretty bad job of educating the majority of the population, so I guess there's some kind of an explanation there...
Quote:
Most economists I've read say the way to get out of a recession is to spend money. If the private sector is not pumping money into the economy then the gov. has to, particularly on endeavors that create jobs like infrastructure or getting a clean energy economy going.
Raising taxes would prolong or make a recession worse, but the gov. has to spend money even if it increases debt and we have to borrow more foreign money.
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Then again, our public schools do do a pretty bad job of educating the majority of the population, so I guess there's some kind of an explanation there...