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Old 08-05-2009, 04:18 PM
 
Location: Sango, TN
24,869 posts, read 24,254,521 times
Reputation: 8672

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Quote:
Originally Posted by floridasandy View Post
you don't pile on debt when you are in debt, because more debt does not get you out of debt.

the smart thing that americans are doing, without the help of the president, is saving their money which reduces the national deficit all by itself. if that money eventually resurfaces into small business growth it will help this country out of the recession, instead of having it funneled back into the government, where it generates zero growth. government sucks money from the system and does not put money into the system. that is why government has the federal reserve printing machine ready to go!
That makes sense in a household, it doesn't make sense for a government.

For example,

Herbert Hoover, the President in office when the Great Depression started, raised taxes in order to pay down our national debt. He felt like that was the cause of the Depression. That just made things worse.

FDR, the man credited with ending the Depression, lowered taxes, and increased spending. That increased the national debt, along with WWII (which increased the debt more), brought us out of the Depression.

A perfect example of why government spending during economic hardships are a good thing.

The problem is, its politically unpopular to raise taxes when the economy is going well. Dems and Repubs alike are guilty of that, so like I said, when the economy turns around, if you're concerned about the debt, don't complain about higher taxes.
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Old 08-05-2009, 05:09 PM
 
Location: the very edge of the continent
88,426 posts, read 44,081,842 times
Reputation: 13471
Quote:
Originally Posted by compJockey View Post
Please learn where the deficit came from.
Do you really expect anyone to believe that the HUGE deficits Obama plans on racking up have nothing to do with Obama's spending programs? Get real.

As for the financial crisis - Bernanke points the finger at Fannie and Freddie, which are STILL causing problems.
Barney Frank's darlings, Fannie and Freddie, likely to be wound down
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Old 08-05-2009, 05:20 PM
 
2,661 posts, read 2,889,156 times
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Quote:
Originally Posted by InformedConsent View Post
Do you really expect anyone to believe that the HUGE deficits Obama plans on racking up have nothing to do with Obama's spending programs? Get real.

As for the financial crisis - Bernanke points the finger at Fannie and Freddie, which are STILL causing problems.
Barney Frank's darlings, Fannie and Freddie, likely to be wound down
Crack open the budget from the last two years.
I'll wait for you.

I've done this exercise with countless others who refused to learn about the deficit.
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Old 08-05-2009, 05:22 PM
 
Location: MI
1,930 posts, read 1,814,257 times
Reputation: 504
Shucks it may be three or more trillion trying to recover from the mess GWB left.
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Old 08-05-2009, 05:29 PM
 
Location: the very edge of the continent
88,426 posts, read 44,081,842 times
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Quote:
Originally Posted by Memphis1979 View Post
FDR, the man credited with ending the Depression...
Um, no.

Great Myths of the Great Depression | Foundation for Economic Education



YouTube - Authors Forum: Great Myths of the Great Depression

http://www.amazon.com/FDRs-Folly-Roo.../dp/0761501657

Last edited by InformedConsent; 08-05-2009 at 05:41 PM..
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Old 08-05-2009, 05:31 PM
 
Location: the very edge of the continent
88,426 posts, read 44,081,842 times
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Quote:
Originally Posted by compJockey View Post
Crack open the budget from the last two years.
You mean the Dem Congress years, right?
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Old 08-05-2009, 05:36 PM
 
2,661 posts, read 2,889,156 times
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Quote:
Originally Posted by InformedConsent View Post
You mean the Dem Congress years, right?
You catch on quick.
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Old 08-06-2009, 08:03 AM
 
Location: Sango, TN
24,869 posts, read 24,254,521 times
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I didn't say it wasn't debatable, but MOST economists credit FDR with ending the Great Depression.
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Old 08-06-2009, 08:08 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,760,477 times
Reputation: 2519
I believe that is because most economists also have the same ideology as FDR followed....

WWII got the USA out of the Depression.
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Old 08-06-2009, 08:42 AM
 
769 posts, read 883,217 times
Reputation: 199
Quote:
Originally Posted by subsound View Post
Got to love how people pick up on only the part of the article they want to see.

The debt was all in line from the Bush administration, same with the stimulus. People just want to drop it on Obama if it fails, and scream it was Bush if it succeeds. You don't get to pick how you want to manipulate past actions.

Yeah and many of us screamed against it then, seeing the large increase in debt as a very bad thing. And the Democrats hailed it, so now the the huge debt rolls in, you can't say it is our fault. You guys wanted it, we didn't, you got it, don't try to put it on us. Obama is continuing the spending, which is again, why we are screaming about it. We should be massively cuting government spend and not cutting taxes, but not raising them either. Just leave taxes like they are, and cut spending.
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