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Yes, huge deficits are a problem. Yes foreign debt is a HUGE problem. But the time to cut government spending and pay off foreign debt was in 2001. And what did Bush and the congressional Republicans do? Enact a feel-good tax cut. We missed our chance then to use the surplus to pay off the debt. Now we need to keep running deficits until the economy is back on track. THEN we can cut spending and pay off the debt.
Yes, huge deficits are a problem. Yes foreign debt is a HUGE problem. But the time to cut government spending and pay off foreign debt was in 2001. And what did Bush and the congressional Republicans do? Enact a feel-good tax cut. We missed our chance then to use the surplus to pay off the debt. Now we need to keep running deficits until the economy is back on track. THEN we can cut spending and pay off the debt.
Yes, huge deficits are a problem. Yes foreign debt is a HUGE problem. But the time to cut government spending and pay off foreign debt was in 2001. And what did Bush and the congressional Republicans do? Enact a feel-good tax cut. We missed our chance then to use the surplus to pay off the debt. Now we need to keep running deficits until the economy is back on track. THEN we can cut spending and pay off the debt.
yep, I was thinking the same thing today, that curing the economy and curing the deficit are not exactly compatible. We will have to choose which one is more important, which one takes top priority? I agree with you that the economy takes a front seat
Yes, huge deficits are a problem. Yes foreign debt is a HUGE problem. But the time to cut government spending and pay off foreign debt was in 2001. And what did Bush and the congressional Republicans do? Enact a feel-good tax cut. We missed our chance then to use the surplus to pay off the debt. Now we need to keep running deficits until the economy is back on track. THEN we can cut spending and pay off the debt.
So you are saying that running deficits were bad and hurt us from 2001-2008.
But running deficits is all of a sudden a good idea now that a democrat is in office.
yep, I was thinking the same thing today, that curing the economy and curing the deficit are not exactly compatible. We will have to choose which one is more important, which one takes top priority? I agree with you that the economy takes a front seat
On the conrary, which was proved by Clinton. When you cure the deficits, the economy cures because you STOP BORROWING.. Where exactly do you think the money comes from to run the deficits? They take it OUT of the economy so it CANT BE SPENT... When you are running deficits, you RUIN the economy because its BORROWED funds. If the government is consuming the money in circulation then the public sector cant and without money, YOU CANT RECOVER..
There is only $x in circulation.. You either have to print more, which devalues the dollar, you allow the public sector to spend it, or the government to spend it.. You both cant be spending the same dollar at the same time..
Yes, huge deficits are a problem. Yes foreign debt is a HUGE problem. But the time to cut government spending and pay off foreign debt was in 2001. And what did Bush and the congressional Republicans do? Enact a feel-good tax cut. We missed our chance then to use the surplus to pay off the debt. Now we need to keep running deficits until the economy is back on track. THEN we can cut spending and pay off the debt.
first, the surplus under clinton was a projected surplus, not a real one.
second, there is no reason we cannot do both cut government spending, and grow the economy at the same time. our economy is based on capitalism, not socialism. we can cut regulations, and cut taxes, and get the economy growing again, and grow our way out of the problems we have now.
we need to get government OUT of trying to stimulate the economy because it isnt not working. government cannot create jobs, that is what business is for. government CAN create an environment where business can create jobs though, and when the private sector takes off that is good for the country.
So you are saying that running deficits were bad and hurt us from 2001-2008.
But running deficits is all of a sudden a good idea now that a democrat is in office.
Yes, that makes perfect sense.
If your a partisan hack.
It gets even funnier when you consider Democrats claims that $250B deficits under Bush collapsed the system, but deficits FIVE times that amount will pull us out.. They are becoming their own worse joke trying to explain economics..
At some point foreign countries will stop buying our debt because we are too far in debt.
It's not as simple as you think.
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I agree with you that the economy takes a front seat
