All national debt is at best questionable, doesn't matter who is at the wheel. You really need to pay attention, you keep running with the same tired shit no matter how many times you are proven wrong.

 

:lol:

you guys managed to turn even this into a partisan debate?

classic!

:lol:

 

Excuse me Old Tool are you saying this debt ceiling crisis is anything else except partisan debate.

How many times did the nation reach the brink of defaulting on the debt ceiling under President Bush?

And is a debt ceiling even a good idea? Is it something we see a lot in other countries that don't have our partisan two party system?

This whole affair is nothing but partisan politics as far as I can see and the most serious political mistake ever made in partisan politics in my assessment at least.

 

The debt ceiling debate is scratching at a scab while the cancer continues to rot the very center of our bones :-| Nothing - absolutely NOTHING - has been done to address the underlying causes of our fiscal calamity & nobody in D.C. has the stones to act.

But, keep on painting your ideological "enemy" is whatever colors you like if it makes you feel better . . . seems like fiddling while Rome burns to me.

 

I can breathe more easily now...

Bernanke and Geithner meet to Discuss Debt Ceiling Contingency Plan

I now feel confident that in the event of a legislative impasse, the Fed would step in and supply the Treasury with funds. How about that? The one thing that is actually GOOD for the market is an organization that is NOT headed by elected officials.

This would make the hard-money evangelists' heads explode.

 

Among the things I include in my respect for President Obama's intelligence is I don't think most people understand what a constitutional scholar he really is and how reluctant he is to trifle with the constitution and its interpretations.

Now, don't get me wrong. President Obama has set up several actions and issues that can't be decided or judged by anyone except the supreme court. But I believe he chooses those battles very carefully and then only when he's confident he's on solid constitutional grounds.

I absolutely agree I think but I don't know what you believe the real cancer is. What is the underlying cause of our fiscal calamity if its not simply an invented crisis by the conservative/Republican/Tea Baggers in congress?

 

Amen.

But then what other than spending more than you take in, causes the fiscal calamity we now see?

 

Well now that is an open minded objective way to look at it.



Invented crisis, do you mean man made? Yes it is.

 

Deficit spending has been caused by the Republican delusion that tax cuts generate more tax revenue than tax increases.

The real problem facing this economy is that for at least a generation the people who own and run the United States have been importing cheap labor and exporting good jobs. Consequently, real after tax income for eighty percent of the country has declined, while real after tax income for the richest one percent of the country has increased dramatically.

The Democrat Party has not found a response that has broad, popular support. What is more, the Democrats have been complicit by supporting NAFTA and opposing restrictions on immigration, especially illegal immigration. Nevertheless, the Republican goals of achieving lower taxes and less government make the situation worse.

 

At the very best, this statement is nothing but an oxymoron.

 

Please explain.

 

Spending is the only way a deficit can be accomplished, period. Revenues are not spending. Basic Accounting 101 stuff.

Debit: Revenue
Credit: Spending

One does not cause the other.

 

To say that tax cuts do not lead to deficit spending is like saying that exercising less does not lead to obesity. When the top tax rate varied from 94 percent to 70 percent the national debt was paid down.

 

Lack of exercise does not lead to (cause) obesity, eating causes obesity. Consuming more calories than are being burned, does cause obesity.

Tax cuts do not lead to (cause) deficits. Spending over revenue does cause deficits.

You seem to think that the books are kept with only debit side of the ledger.

 

Deficit spending happens when taxes are too low to cover expenditures. During the Reagan administration and the administration of Bush II deficit spending happened because taxes were cut while military spending was increased.

 

You are stuck in your rut again, you need a dose of reality to wake you up.

It is impossible to create a deficit without spending, period. You can not change that fundamental.

It is impossible to create a surplus without income. Just as inviolable.

The trick is to achieve a balance, left to there own, the spenders will spend everything available and then some. Then they ask the savers to pay more to cover their losses.

 

You refuse to acknowledge that a high top tax rate is necessary to pay down the national debt. That worked from 1944 to 1980, and again during the Administration of Bill Clinton.

 

Explain to me why you believe that this nation needs to be taxed heavier than it already is?? Why does the governments,federal ,state and local, need more money to operate??. How has higher taxation created a better society in this nation?

All of the spending that has happened for the past several years,has not made anything better.. You, along with the federal government believe that throwing more money at any problem, magically makes the problem go away, yet it only compounds the problem. Plenty of evidence out there that backs that.

 

Ace, do you think Social Security made the country a better place than it was before it was enacted? Medicare? The space program? The Interstate Highway System?

I submit that if your answer to any or all of those questions is no, the problem isn't with Federal Government taxation or spending...it's with you.