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Old 02-04-2010, 03:54 PM
 
9,124 posts, read 33,295,188 times
Reputation: 3565

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Quote:
Originally Posted by WilliamM View Post
You say that as if it's a bad thing.
See my post above- it's not a bad thing at all, provided that we're creating jobs that benefit the country. If we just want to "create jobs", we can hire people to be court jesters for the senate, or to teach belly-dancing in 3rd world countries- the end result would be the same and be far cheaper in the long run.
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Old 02-04-2010, 04:23 PM
 
719 posts, read 1,503,602 times
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Quote:
Originally Posted by BobKovacs View Post
See my post above- it's not a bad thing at all, provided that we're creating jobs that benefit the country. If we just want to "create jobs", we can hire people to be court jesters for the senate, or to teach belly-dancing in 3rd world countries- the end result would be the same and be far cheaper in the long run.
Ok, I gotcha.

I agree that we need to look closely at this high-speed rail business. There is no point in building a system that will not be fully used and enjoyed. But we just need to remember to define use and enjoyment in broad terms, not in terms that are too crassly utilitarian.

By the way, we also have a serious unemployment problem. If the country can give a generation of people jobs building something useful, that's a desirable outcome. But of course, if what they're building is not so useful, well, that's not so ideal. But we need to be bold and creative about it. Employing those people in the service of building something important is a public good in and of itself. However, we need to think carefully about how we allocate out efforts. I like trains personally, but I'm not just blindly championing them without recognizing the uphill struggle they face in this country.
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Old 02-04-2010, 05:10 PM
 
Location: Marietta, GA
7,858 posts, read 15,192,827 times
Reputation: 3566
Quote:
Originally Posted by WilliamM View Post
Looks like we disagree on several levels. First, your statement "all of it borrowed" seems to be based on a misconception. Of course public works money is borrowed.
Not all public works money is borrowed. It's you that seems to be under a misconception. Take SPLOST here in Cobb County. The money is allocated and then spent as it's taken in from receipts. None if it is borrowed. Hundreds of millions of dollars have been spent on new schools, new roads, school equipment, and road repair projects.

Now I'm not saying that proper financing and investment is wrong, but there is a huge difference between public bonds and properly financed debt, and this willy nilly spending and monster fiscal deficit and national debt that we just keep growing bigger and bigger.
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Old 02-04-2010, 05:11 PM
 
Location: 30080
2,298 posts, read 3,656,679 times
Reputation: 1836
Quote:
Originally Posted by neil0311 View Post
No, what is ignorant is to always try and compare us to Europe or Japan, and to "invest" borrowed capital into projects that have not been reviewed to ascertain their actual ROI.

We will lose our #1 status if we allow our politicians to further wreck our fiscal health and borrow and mortgage our future more than it already is. What we need are intelligent solutions to real problems, and not poorly conceived solutions to non-existent or minor problems. For example, do we really have a huge problem with a huge number of people traveling between Nashville and Atlanta? It might make sense to "invest" in the northeast, between LA and San Diego, Chicago to St. Louis, and other key corridors. Taking a shotgun approach because some of you hate cars is just not helpful in my opinion, especially at the massive cost.
Man where have you been... Japan owns so much US debt..that #1 spot has been gone in pretty much everything except military for years. And im not even sure on that one anymore.
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Old 02-04-2010, 05:12 PM
 
Location: Marietta, GA
7,858 posts, read 15,192,827 times
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Quote:
Originally Posted by brownhornet View Post
Man where have you been... Japan owns so much US debt..that #1 spot has been gone in pretty much everything except military for years. And im not even sure on that one anymore.
Exactly, and so does China and Russia. That's my point. We still have the #1 productive economy.
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Old 02-04-2010, 05:15 PM
 
Location: 30080
2,298 posts, read 3,656,679 times
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Quote:
Originally Posted by neil0311 View Post
Exactly, and so does China and Russia. That's my point. We still have the #1 productive economy.
For now... wont be for long the way they keep outsourcing jobs to try to save money. As far as growth China has been catching up pretty steadily.
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Old 02-04-2010, 06:42 PM
 
719 posts, read 1,503,602 times
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Quote:
Originally Posted by neil0311 View Post
Exactly, and so does China and Russia. That's my point. We still have the #1 productive economy.
How we define "productivity" is now undergoing drastic change.
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Old 02-04-2010, 06:58 PM
 
719 posts, read 1,503,602 times
Reputation: 220
Quote:
Originally Posted by neil0311 View Post
Not all public works money is borrowed. It's you that seems to be under a misconception. Take SPLOST here in Cobb County. The money is allocated and then spent as it's taken in from receipts. None if it is borrowed. Hundreds of millions of dollars have been spent on new schools, new roads, school equipment, and road repair projects.
Fair enough.

Quote:
Originally Posted by neil0311 View Post
....and this willy nilly spending and monster fiscal deficit and national debt that we just keep growing bigger and bigger.
Ahh, now I think I see what's eating you.
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