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The only nonsense being demonstrated is your failure to read the actual reports.
This is from the CBO which both Dems and your beloved party use for their projections.
There after I later posted this.
Again this is not rocket science.
Those that cry and shout about the deficit only do it when it comes to middle income (and no part of the 1.5% of the population that makes $250K are not middle income) and working people.
When it comes to removing subsidies for slobs like BP or giving financial gambling addicts trillion dollar bailouts, you and your ilk are notoriously silent.
"ilk"? Obama supported and the democratic congress passed the financial bailout and the failed stimulus plan.
Apparently you did not read the table, so let's go through it again-
1. If the "high end" rate was increased to 78%, it would not get us out of deficits, let alone debt.
2. If the "high end" was increased to 100% (slavery), it would not get us out of deficits, let alone debt
3. If the military budget was cut 100%, it would not get us out of deficits, let alone debt.
Your "ilk" seems to fail to understand that we have been spent into a very serious mess. EVERYONE is going to have to pay higher taxes and marked SPENDING CUTS will be necessary for EVERYONE. The days of spending without responsibility are over and perhaps your "ilk" should wake up to this grim fact before the democratic congress spends us into oblivion.They have been in power for four years and took a strong economy with low unemployment and have destroyed it.
Once again, the bulk of the deficits is due to the ludicrous fiscal blunders of the Formerly Known As Conservatives and when proposals for taxes to go back to the levels they were from the decade that some seem to feel was a century ago, it is cried this:
In 2001 the National Debt stood at $5.7-trillion, so much for Clinton's surpluses.
It took Bush eight years to run the debt up another $4.9-trillion, making the debt $10.6 trillion.
It only took 0bama 18 months to run it up to $13.3 trillion, so at this rate we will be in third world debtor status soon enough. But the debt is nothing compared to our US unfunded liabilities, which stand at $109 trillion.
Lets see what rationalization hawk will come up with to justify this.
The wealthy, who ARE NOT EXPERIENCING A RECESSION by the way, should keep their tax cuts according to otherwise ravenous deficit hawks but middle income and working Americans who have lost their livelihoods due to the worst economic crisis since the Great Recession are tossed under the boss by these same deficit hawks.
"For the past few months, congressional Republicans have demanded that any additional spending be offset by budget cuts or revenue increases elsewhere. Also on Sunday, White House senior adviser David Axelrod blamed deficit concerns for the difficulty in finding a 60th vote in the Senate for unemployment benefits even though, as of Friday, 2.1 million people have not received checks that they were expecting in June.
And yet, Kyl is now suggesting that the same budget rules shouldn't apply with respect to tax cuts for the wealthy, which are set to expire unless Congress acts to renew them.
Kyl is one of the most prominent members of Congress to advance the argument that jobless benefits make people not want to look for work, a position disputed by economists across the political spectrum. Unemployment insurance "doesn't create new jobs. In fact, if anything, continuing to pay people unemployment compensation is a disincentive for them to seek new work," Kyl said last March on the Senate floor."
I like his credit card restructuring idea and would expand it to people who qualify only.Have regulation in place where you can not declare it in a bankruptcy such as student loans.The real danger is the imbeciles in DC once the program loses steam would relax the regs and we would have a another fiasco on our hands.Good idea for state level.
But we both know that Barnanke and his bankster buddies would never let this come into law.They would grease our leaders palms and it would be all over except for the crying.
Reid, you might be interested in what this cat has to say, albeit as for as I can tell, he is not an economist, but what he writes makes a lot of sense for those that haven't given up their rationality for partisanship.
"There is a false dichotomy buried in the austerity vs. stimulus policy debate. Both sides share the notion that the road to economic recovery is forked, and that we must choose only one path. Paul Krugman and the spendthrifts urge us to veer left and postpone pain with a second federal stimulus. Alan Greenspan and the deficit hawks believe we must make a miserly right turn and slash budgets to the bone.
Unfortunately for all of us, neither of these singular tactics holds much promise. Both the avenue of self-denial, and the boulevard of self-indulgence have failed to spark real growth.
I humbly submit we should embrace both at the same time.
Stimulus and austerity are not mutually exclusive strategies. The question is not whether to cut or spend. The question is what to cut. . .. and whatto spend on."
Unfortunately for all of us, neither of these singular tactics holds much promise. Both the avenue of self-denial, and the boulevard of self-indulgence have failed to spark real growth.
I humbly submit we should embrace both at the same time.
Stimulus and austerity are not mutually exclusive strategies. The question is not whether to cut or spend. The question is what to cut. . .. and whatto spend on."
Unfortunately its not said enough, or at least the media doesn't cover those that have similar strategies of the blogger.
The deficit hawks are so feisty about gutting SS, why are they not equally as passionate about trillion dollar wars?
"So, the costs of war and the costs of preparing for war continue to soar, even in the midst of protracted economic recession and deep anxiety about the future. New ideas and new perspectives are needed to rebalance a deeply dysfunctional system.
In the mean time, the Pentagon's base budget -- not counting the wars in Iraq and Afghanistan -- continues to increase. Of the over $700 billion in military spending in 2011, roughly $550 billion is for the "regular" Pentagon budget.
In short, base Pentagon spending is over three times as much as what is being spent on the wars. Therefore, there is ample room to cut the Pentagon's base budget even if the costs of Afghanistan and Iraq stay at their current high levels.
A new report shows just how that might be done. Debt, Deficits and Defense: A Way Forward was produced by the Sustainable Defense Task Force and illustrates how the Pentagon can contribute significantly to deficit reduction while advancing national security goals.
A Way Forward is not the onlyset of good ideas on how to reduce military spending. But-- taking another look at the list of things we could buy for one trillion dollars if we were not spending it on wars abroad--it is a good place to start this long over due work."
So I wonder does this now make the Alan an anti-rich, capitalist hating, socialist nazi?!
"Greenspan backs end to Bush tax cuts
Congress should let all of former president George W. Bush’s 2001 and 2003tax cuts expire to cut the long-term budget deficit, former Federal Reserve chairman Alan Greenspan has said.
Mr Greenspan’s support helped persuade Congress to pass the tax cuts in 2001 and his comments thrust him into a heated political battle over whether to extend them beyond the end of 2010. “They should follow the law and let them lapse,” Mr Greenspan said in an interview."
The best way out of recessions and high long term debt is to come up with a full employment strategy and GET PEOPLE WORKING.
"Fiscal hawks and deficit doves alike are strangling the baby in the crib today by denying a sensible fiscal response for the current generation's plight, while hyperventilating that fiscal deficits will do the strangulation of the next generation tomorrow. That, in a nutshell, is what is truly sapping our long term economic vitality. The only way to avoid this ongoing plight is to champion a return to full employment policies, and stop being enslaved by the economic shibboleths which people like Larry Summers and his ilk continue to champion recklessly."
Reid, you might be interested in what this cat has to say, albeit as for as I can tell, he is not an economist, but what he writes makes a lot of sense for those that haven't given up their rationality for partisanship.
"There is a false dichotomy buried in the austerity vs. stimulus policy debate. Both sides share the notion that the road to economic recovery is forked, and that we must choose only one path. Paul Krugman and the spendthrifts urge us to veer left and postpone pain with a second federal stimulus. Alan Greenspan and the deficit hawks believe we must make a miserly right turn and slash budgets to the bone.
Unfortunately for all of us, neither of these singular tactics holds much promise. Both the avenue of self-denial, and the boulevard of self-indulgence have failed to spark real growth.
I humbly submit we should embrace both at the same time.
Stimulus and austerity are not mutually exclusive strategies. The question is not whether to cut or spend. The question is what to cut. . .. and whatto spend on."
My reality tells me that we do not want the gvt in charge of creating jobs.Very recently in this forum was a article about a battery plant being built in Mich.It created 300 jobs at a cost to the tax payers of $250,000 per job.That to me does not look like a win situation when we have millions unemployed.It would cost trillions to the tax payer to put all those people to work.
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