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Thread: U.S. Borrowing Needs Are EXPLODING

  1. #41
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    Quote Originally Posted by OldGaffer View Post
    And Trump has put it on steroids, it is going to be over a trillion this year and every year he is POTUS.
    Obama still holds the record for the largest deficits.

    Thanks Obama!

  2. #42
    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by Miller47 View Post
    Obama still holds the record for the largest deficits.

    Thanks Obama!
    That record is going to fall, Trump is going to be the winner, winner, chicken dinner, and he does not even have a great recession to blame it on. Just trickle down.
    Thanks from labrea

  3. #43
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    Quote Originally Posted by OldGaffer View Post
    That record is going to fall, Trump is going to be the winner, winner, chicken dinner, and he does not even have a great recession to blame it on. Just trickle down.
    Your record on predictions ain't that good, but by all means, keep trying.

    She was going to "crush his nuts", remember?

    Yep, we heard that one MANY times.

    But, sure, Trump may beat Obamas record for deficits.

    Just because you say it's gonna happen, don't mean it's gonna happen, though.

  4. #44
    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by Miller47 View Post
    Your record on predictions ain't that good, but by all means, keep trying.

    She was going to "crush his nuts", remember?

    Yep, we heard that one MANY times.

    But, sure, Trump may beat Obamas record for deficits.

    Just because you say it's gonna happen, don't mean it's gonna happen, though.
    I am making another one, Democrats are going to win the House back this year, want to argue that one with me?
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  5. #45
    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by Miller47 View Post
    Your record on predictions ain't that good, but by all means, keep trying.

    She was going to "crush his nuts", remember?

    Yep, we heard that one MANY times.

    But, sure, Trump may beat Obamas record for deficits.

    Just because you say it's gonna happen, don't mean it's gonna happen, though.
    I did not know the Russians had their thumbs on the scales for Trump, did you?

  6. #46
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by OldGaffer View Post
    I did not know the Russians had their thumbs on the scales for Trump, did you?
    We Russkies have big thumbs, yes, and you keep complaining, we break yours, nyet? Get the picture, pretty boy? Break thumbs, hurt real bad! Do not want!

  7. #47
    Member Claudius the God's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    On the contrary, I was very critical of Mr. Obama for not pushing much harder to get Congress to take an up-or-down vote on the recommendations of the Simpson/Bowles Commission on the National Debt.

    Do you even KNOW anything about that Commission?

    Paul Ryan was another pol who PREVENTED Congress from taking that up-or-down yea-or-nay vote.

    I'm a true fiscal conservative. You are not, and most certainly Donald Trump is not.

    And America is in TROUBLE.
    Have you ever looked at the federal budget by category? Where exactly would you cut hundreds of billions of dollars while cutting tax rates? It does not add up. I understand that some folks want the federal government to act like a business or household but it will never act like one because it is not a business or household. The government has the ability to spend money at will with virtually no risk other than inflation. Inflation since the 70s has virtually disappeared as a serious threat to any first world economy. Given these facts, what exactly does "fiscal conservative" mean? What is the point of even calling yourself one? I am curious and not throwing stones here, I really want to know why anyone would keep this Gold Bug era concept alive.
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  8. #48
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by Claudius the God View Post
    Have you ever looked at the federal budget by category? Where exactly would you cut hundreds of billions of dollars while cutting tax rates? It does not add up. I understand that some folks want the federal government to act like a business or household but it will never act like one because it is not a business or household. The government has the ability to spend money at will with virtually no risk other than inflation. Inflation since the 70s has virtually disappeared as a serious threat to any first world economy. Given these facts, what exactly does "fiscal conservative" mean? What is the point of even calling yourself one? I am curious and not throwing stones here, I really want to know why anyone would keep this Gold Bug era concept alive.
    I am not a 'Gold Bug'. Hardly. I laugh and scoff at those people. But the FACT is that America has a SERIOUS debt problem. Our TOTAL debt, both private and public, is now at about 360% of GDP.

    Stein's Law: If something cannot continue forever, it will stop.
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  9. #49
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    Quote Originally Posted by OldGaffer View Post
    I am making another one, Democrats are going to win the House back this year, want to argue that one with me?
    Will they cut spending and start working on this debt problem when they do? What do you predict on spending?
    Thanks from pragmatic

  10. #50
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by Claudius the God View Post
    Have you ever looked at the federal budget by category? Where exactly would you cut hundreds of billions of dollars while cutting tax rates?
    BTW, why is it so important to cut tax rates? Americans are not over-taxed. One of Trump's most pernicious lies is to claim that America is the most heavily taxed nation on Earth. No. We're not even close. We're not even in the top 30. The most heavily taxed countries would be your usual suspects: the Nordic countries. [Paradoxically, they're also the HAPPIEST countries.] Taxes are the price we pay for living in a civilized society. Can taxes be TOO high? Oh, my, yes. The Roman Empire was over-taxed in its waning centuries. People were fleeing the cities to try to get away from the tax-collector. But most of the Third World countries today are, if anything, under-taxed. That's WHY they're shit-holes.

    America is suffering from imperial over-stretch. We ARE over-spending on defense and the military. We SHOULD be spending MORE on science and technology research and development, on education, and on infrastructure. Middle class taxes could be a BIT less, and taxes on the rich should be quite a bit MORE.

    Fiscal conservatives believe in three things, and it is extremely difficult to achieve all three at once: (1) Low taxes but certainly NOT no taxes; (2) Smallish government but certainly not NO government; and (3) Budgets at least CLOSE to being in balance, at least over the course of the business cycle, so that we are not passing on a huge burden of debt to future generations. This last is a matter of inter-generational fairness.
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