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Old 08-03-2011, 07:47 AM
 
Location: San Diego California
6,797 posts, read 6,643,799 times
Reputation: 5180

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Debt Crisis Was Long In Coming, Ex-Reagan Aide Says : NPR

In this interview, former Regan Budget Director David Stockman tells the truth about the problem with government and the budget.
He states that the US government is irresponsible and deserves to have its credit rating reduced.
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Old 08-04-2011, 08:24 PM
 
Location: Maryland about 20 miles NW of DC
6,106 posts, read 5,417,172 times
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David Stockman should know he was one of the architects of this warthog of an economy we now enjoy!
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Old 08-04-2011, 10:13 PM
 
28,461 posts, read 76,313,410 times
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Default Cripes...

Quote:
Originally Posted by mwruckman View Post
David Stockman should know he was one of the architects of this warthog of an economy we now enjoy!
Did younread the dang transcript?? Stockman is no slavish accolyte to any myths. He runs a private equity fund these days. He knows that the gap that has grown between debt and revenue is madness.

He flat out said that despite Reagan's dislike for taxes back when changes had to be made and taxes raised that was part of what Reagan DID agree to.

The current lunacy of pouring $800 BILLION into the coffers of "defense firms" that are largely fleecing America for ridiculous "homeland security" efforts that mostly just foster stupidity in the name of technology (like back scatter xray screening when a nice interrogation based passenger screening would be both more effective and loads cheaper but MIGH actual result in finding nut case bomber types) has to STOP.

Rich fat cat retirees cannot pretend that they "need" Medicare as much as some pathetic granny that never saved a dime. That MUST change!

Folks have to rethink the idiotic intrusions that have made the "minimum wage" so darned high that it DISCOURAGES employers from adding needed staff, the EPA a "protector" of OFF SHORE JOBS where there are no environmental regulations, food stamps an out of control program that so utterly fails to police recepients that even government employees abuse it...

The media has to stop their love affair with the fiction that some overly bookish, un- street smart inexperienced dreamer with an agenda is magically endowed with leadership abilities becuase he has hind his speaking skills. Once they start honestly reporting how pathetically one-sided they've been for far too long MAYBE they can help people understand that "the bill is due" and cutting programs that have seriouslyndiverged from what the county needs while making taxes fairer will take LEADERS that will fight for something more important than campaign contributions!
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Old 08-08-2011, 07:51 AM
 
Location: San Diego California
6,797 posts, read 6,643,799 times
Reputation: 5180
Quote:
Originally Posted by chet everett View Post
Did younread the dang transcript?? Stockman is no slavish accolyte to any myths. He runs a private equity fund these days. He knows that the gap that has grown between debt and revenue is madness.

He flat out said that despite Reagan's dislike for taxes back when changes had to be made and taxes raised that was part of what Reagan DID agree to.

The current lunacy of pouring $800 BILLION into the coffers of "defense firms" that are largely fleecing America for ridiculous "homeland security" efforts that mostly just foster stupidity in the name of technology (like back scatter xray screening when a nice interrogation based passenger screening would be both more effective and loads cheaper but MIGH actual result in finding nut case bomber types) has to STOP.

Rich fat cat retirees cannot pretend that they "need" Medicare as much as some pathetic granny that never saved a dime. That MUST change!

Folks have to rethink the idiotic intrusions that have made the "minimum wage" so darned high that it DISCOURAGES employers from adding needed staff, the EPA a "protector" of OFF SHORE JOBS where there are no environmental regulations, food stamps an out of control program that so utterly fails to police recepients that even government employees abuse it...

The media has to stop their love affair with the fiction that some overly bookish, un- street smart inexperienced dreamer with an agenda is magically endowed with leadership abilities becuase he has hind his speaking skills. Once they start honestly reporting how pathetically one-sided they've been for far too long MAYBE they can help people understand that "the bill is due" and cutting programs that have seriouslyndiverged from what the county needs while making taxes fairer will take LEADERS that will fight for something more important than campaign contributions!
I agree, with the exception of your portrayal of the media. The media know exactly what they are doing. The media are now all corporate owned and follow the agenda of big business. Big business puts their choice in the WH and in turn, the POTUS follows their agenda. The faces change but the agenda remains the same. War, amnesty for illegal’s, low taxes for the wealthy, regulations to force off shoring, regulations to stifle competition, protection of offshore basing of corporations etc.
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Old 08-09-2011, 08:46 AM
 
Location: West Orange, NJ
12,545 posts, read 19,525,223 times
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Quote:
Originally Posted by jimhcom View Post
I agree, with the exception of your portrayal of the media. The media know exactly what they are doing. The media are now all corporate owned and follow the agenda of big business. Big business puts their choice in the WH and in turn, the POTUS follows their agenda. The faces change but the agenda remains the same. War, amnesty for illegal’s, low taxes for the wealthy, regulations to force off shoring, regulations to stifle competition, protection of offshore basing of corporations etc.
i agree to a point. don't forget that millions of individual americans vote to put that POTUS in the whitehouse. and millions of individual americans can contribute $5 to a candidate to help them run without business.

i agree, our choices are limited because we are presented ones that are corrupted by big business, or they possibly become corrupted once elected...but we ultimately have collective power. We need to organize better. The Tea Party is a good example, I just think that a majority of them have the incorrect message. They aren't horribly far off....they just need some smart, logical, reasonable people in there to change the message to a more reasonable one.
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Old 08-15-2011, 08:49 PM
 
2,515 posts, read 1,824,354 times
Reputation: 362
Quote:
Originally Posted by chet everett View Post
Did younread the dang transcript?? Stockman is no slavish accolyte to any myths. He runs a private equity fund these days. He knows that the gap that has grown between debt and revenue is madness.
What we need to do is something that is functional equivalent to inflating GDP and keeping government spending constant. My favorite plan is a 4X on the minimum wage.
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Old 08-16-2011, 06:31 AM
 
28,461 posts, read 76,313,410 times
Reputation: 18536
Default Wrong direction...

Quote:
Originally Posted by newonecoming2 View Post
What we need to do is something that is functional equivalent to inflating GDP and keeping government spending constant. My favorite plan is a 4X on the minimum wage.
Minimum wage should be abolished. Of course if we don't do something to force "our neighbor across the Rio Grande" to be less of a lawless 4ell hole more of their citizens will continue to pour across the border...
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Old 08-16-2011, 06:46 AM
 
12,869 posts, read 13,710,117 times
Reputation: 4453
exactly how low do you go in wages then? look at this:


A Wikileaks post published on The Nation shows that the Obama Administration fought to keep Haitian wages at 31 cents an hour.

(This article was taken down by The Nation due to an embargo, but it was excerpted at Columbia Journalism Review.)

It started when Haiti passed a law two years ago raising its minimum wage to 61 cents an hour. According to an embassy cable:


Read more: WIKILEAKS: U.S. Fought To Lower Minimum Wage In Haiti So Hanes And Levis Would Stay Cheap

when you can drive down wages in other countries, it doesn't matter whether you lower them here.

i totally agree 100% about doing something about our "neighbor across the border". they aren't being very neighborly.
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Old 08-16-2011, 06:50 AM
 
28,461 posts, read 76,313,410 times
Reputation: 18536
Too true. The fact is the "whatever the unions want, the unions get" mindset is completely out-of-touch with the reality of world where some people are happen to live in a freight container...

Domestic "protection" is impossible these days.
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Old 08-16-2011, 02:15 PM
 
2,515 posts, read 1,824,354 times
Reputation: 362
In order to "fix" the macro picture to get full employment we need the price of houses going up not down.

Dated thinking. The top end total compensation is way over inflated currently. What a 4x in the minimum wage would tend to do is to devalue the currency. it would tend to give or take a bit reduce the value of our currency by about 50%. The bottom gets a 200% bump in real wages the top gets a 50% cut in real wages. "Domestic "protection" is impossible these days." One way to do it is with a high domestic savings rate. with the current 0.25% prime it is hard to get people to save in banks. High bank savings tends to balance trade.
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