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When fools control the economy

TBR
Posts: 9,991
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7/22/2016 3:23:07 PM
Posted: 4 months ago
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

Whatever way you look at it, GWB and Reagan were the worst. Not that you will get anything other than bullsh1t excuses from Republicans, but the numbers are clear.
RookieApologist
Posts: 469
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7/22/2016 3:34:31 PM
Posted: 4 months ago
Mandatory programs have accounted for a rising share of the federal government"s noninterest spending over the past few decades, averaging 60 percent in recent years. Most of the growth in mandatory spending has involved the three largest programs"Social Security, Medicare, and Medicaid. Federal outlays for those programs together made up more than 40 percent of the government"s noninterest spending, on average, during the past 10 years, compared with less than 30 percent four decades ago.

Most of the anticipated growth in noninterest spending as a share of GDP over the long term is expected to come from the government"s major health care programs: Medicare, Medicaid, the Children"s Health Insurance Program, and the subsidies for health insurance purchased through the exchanges created under the ACA. CBO projects that, under current law, total outlays for those programs, net of offsetting receipts, would grow much faster than the overall economy, increasing from just below 5 percent of GDP now to 8 percent in 2039". Spending for Social Security also would increase relative to the size of the economy, but by much less"from almost 5 percent of GDP in 2014 to more than 6 percent in 2039 and beyond".
Those projected increases in spending for Social Security and the government"s major health care programs are attributable primarily to three causes: the aging of the population, rising health care spending per beneficiary, and the ACA"s expansion of federal subsidies for health insurance.

...Left in place, the health law will create pressures that will eventually lead to a single-payer system in which the federal government determines how much health care Americans need and what kind of care they can receive.

A rising level of government debt would have another significant negative consequence. Combined with an unfavorable long-term budget outlook, it would increase the probability of a fiscal crisis for the United States. In such a crisis, investors become unwilling to finance all of a government"s borrowing needs unless they are compensated with very high interest rates; as a result, the interest rates on government debt rise suddenly and sharply relative to rates of return on other assets.

Other than interest on the national debt, most of the long-term growth in federal spending (as a percent of GDP) under the CBO"s current policy and current law scenarios stems from Social Security, Medicare, Medicaid, the Children"s Health Insurance Program, and Affordable Care Act (a.k.a. Obamacare) subsidies.

In February 2009, Democratic President Barack Obama stated:
I refuse to leave our children with a debt that they cannot repay"and that means taking responsibility right now, in this administration, for getting our spending under control.[120]
* From the time that Congress enacted Obama"s first major economic proposal (February 17, 2009[121]) until December 31, 2014, the national debt rose from 74% of GDP to 102%, or an average of 4.8 percentage points per year.[122]

http://www.justfacts.com...
Robkwoods
Posts: 571
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7/22/2016 3:34:37 PM
Posted: 4 months ago
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

You mean that freer form of economics that pissed in the face every dissenter. Ask Bill Clinton about Reaganomics.
RookieApologist
Posts: 469
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7/22/2016 3:37:24 PM
Posted: 4 months ago
At 7/22/2016 3:23:07 PM, TBR wrote:
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

Whatever way you look at it, GWB and Reagan were the worst. Not that you will get anything other than bullsh1t excuses from Republicans, but the numbers are clear.

From the time that Congress enacted Bush"s first major economic proposal (June 7, 2001[116]) until the time that he left office (January 20, 2009), the national debt rose from 53% of GDP to 74%, or an average of 2.7 percentage points per year.[117]

From the time that Congress enacted Obama"s first major economic proposal (February 17, 2009[121]) until December 31, 2014, the national debt rose from 74% of GDP to 102%, or an average of 4.8 percentage points per year.[122]

http://www.justfacts.com...
RookieApologist
Posts: 469
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7/22/2016 3:39:18 PM
Posted: 4 months ago
At 7/22/2016 3:34:37 PM, Robkwoods wrote:
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

You mean that freer form of economics that pissed in the face every dissenter. Ask Bill Clinton about Reaganomics.

PolitiFact, a Pulitzer Prize-winning project of the Tampa Bay Times to "help you find the truth in politics,"[160] has stated that there were "several years of budget surpluses" during Bill Clinton"s presidency. This same article cites the rise in "national debt" during the tenure of George W. Bush.[161]

* Using the same criterion PolitiFact applied to Bush"s presidency (change in gross national debt), the national debt rose every year of Clinton"s presidency:

http://www.justfacts.com...
Robkwoods
Posts: 571
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7/22/2016 3:39:41 PM
Posted: 4 months ago
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Remove welfare over a 5 year period
Abolish the minimum wage
Abolish corporate welfare
Abolish all connections between business and government
Make all state road private
Abolish the income tax
Implement the negative income tax
Abolish college subsidies, actually all subsidies
Abolish the non elected fed, a computer can do their job
Abolish the ACA

I would vote for this candidate.
Robkwoods
Posts: 571
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7/22/2016 3:42:35 PM
Posted: 4 months ago
At 7/22/2016 3:39:18 PM, RookieApologist wrote:
At 7/22/2016 3:34:37 PM, Robkwoods wrote:
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

You mean that freer form of economics that pissed in the face every dissenter. Ask Bill Clinton about Reaganomics.

PolitiFact, a Pulitzer Prize-winning project of the Tampa Bay Times to "help you find the truth in politics,"[160] has stated that there were "several years of budget surpluses" during Bill Clinton"s presidency. This same article cites the rise in "national debt" during the tenure of George W. Bush.[161]

* Using the same criterion PolitiFact applied to Bush"s presidency (change in gross national debt), the national debt rose every year of Clinton"s presidency:

http://www.justfacts.com...

Right, Deficit and Debt are often confused but very different.
RookieApologist
Posts: 469
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7/22/2016 3:45:04 PM
Posted: 4 months ago
At 7/22/2016 3:39:41 PM, Robkwoods wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Remove welfare over a 5 year period
Abolish the minimum wage
Abolish corporate welfare
Abolish all connections between business and government
Make all state road private
Abolish the income tax
Implement the negative income tax
Abolish college subsidies, actually all subsidies
Abolish the non elected fed, a computer can do their job
Abolish the ACA

I would vote for this candidate.

Add in increasing the minimum age for social security and so would I.
TBR
Posts: 9,991
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7/22/2016 3:48:11 PM
Posted: 4 months ago
At 7/22/2016 3:34:37 PM, Robkwoods wrote:
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

You mean that freer form of economics that pissed in the face every dissenter. Ask Bill Clinton about Reaganomics.

Are you suggesting that Reaganomics was successful?
Robkwoods
Posts: 571
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7/22/2016 3:48:11 PM
Posted: 4 months ago
At 7/22/2016 3:45:04 PM, RookieApologist wrote:
At 7/22/2016 3:39:41 PM, Robkwoods wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Remove welfare over a 5 year period
Abolish the minimum wage
Abolish corporate welfare
Abolish all connections between business and government
Make all state road private
Abolish the income tax
Implement the negative income tax
Abolish college subsidies, actually all subsidies
Abolish the non elected fed, a computer can do their job
Abolish the ACA

I would vote for this candidate.

Add in increasing the minimum age for social security and so would I.

Forgive me

Abolish social security, After paying out to those have paid into it.

I can save my own money.
Robkwoods
Posts: 571
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7/22/2016 3:48:40 PM
Posted: 4 months ago
At 7/22/2016 3:48:11 PM, TBR wrote:
At 7/22/2016 3:34:37 PM, Robkwoods wrote:
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

You mean that freer form of economics that pissed in the face every dissenter. Ask Bill Clinton about Reaganomics.

Are you suggesting that Reaganomics was successful?

By what measure would say it wasn't?
RookieApologist
Posts: 469
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7/22/2016 3:50:02 PM
Posted: 4 months ago
At 7/22/2016 3:23:07 PM, TBR wrote:
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

Whatever way you look at it, GWB and Reagan were the worst. Not that you will get anything other than bullsh1t excuses from Republicans, but the numbers are clear.

I think it's also fair to say that one has to look at what was actually done with the increase in debt. In other words, if overall good was accomplished by the increase in debt, then one could claim that the increase was "worth it" in some fashion. Obviously in hindsight, the War on Terror has been pretty much disastrous. But we have the luxury of hindsight. Most thought it was a great idea at the time, including Hillary Clinton.

Reagan spent a ton on defense and building up the military. While one can argue that the dismantling of the Soviet Union and ending the Cold War were direct results of this spending, those results are nevertheless likely seen as good things. The War on Drugs, probably not so much, but again we have the luxury of hindsight.
RookieApologist
Posts: 469
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7/22/2016 3:57:13 PM
Posted: 4 months ago
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

"Government spending still grew, just not as fast as under President Carter. Reagan increased spending by 2.5% a year, mostly for defense. Cuts to other discretionary programs only occurred in his first year. Reagan did not cut Social Security or Medicare payments at all. In fact, Reagan's budget was 22% of GDP (total economic output). Nevertheless, the growth in spending was less than President Carter's 4% annual increase (figures adjusted for inflation)."

http://useconomy.about.com...
Robkwoods
Posts: 571
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7/22/2016 3:57:41 PM
Posted: 4 months ago
At 7/22/2016 3:50:02 PM, RookieApologist wrote:
At 7/22/2016 3:23:07 PM, TBR wrote:
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

Whatever way you look at it, GWB and Reagan were the worst. Not that you will get anything other than bullsh1t excuses from Republicans, but the numbers are clear.

I think it's also fair to say that one has to look at what was actually done with the increase in debt. In other words, if overall good was accomplished by the increase in debt, then one could claim that the increase was "worth it" in some fashion. Obviously in hindsight, the War on Terror has been pretty much disastrous. But we have the luxury of hindsight. Most thought it was a great idea at the time, including Hillary Clinton.

Reagan spent a ton on defense and building up the military. While one can argue that the dismantling of the Soviet Union and ending the Cold War were direct results of this spending, those results are nevertheless likely seen as good things. The War on Drugs, probably not so much, but again we have the luxury of hindsight.

You interested in starting a MSM news station? Actually if we took the collective DDO Liberal and Con we could change the world...
RookieApologist
Posts: 469
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7/22/2016 4:00:40 PM
Posted: 4 months ago
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

Reagan inherited an economy mired in stagflation -- a combination of double-digit economic contraction with double-digit inflation. To combat recession, Reagan aggressively cut income taxes from 70% to 28% for the top income tax rate, and from 48% to 34% for the corporate tax rate. He also promised to reduce government spending and regulations, while reducing the money supply to combat inflation.

http://useconomy.about.com...
RookieApologist
Posts: 469
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7/22/2016 4:08:18 PM
Posted: 4 months ago
At 7/22/2016 3:23:07 PM, TBR wrote:
At 7/22/2016 11:11:18 AM, illegalcombat wrote:
At 7/22/2016 4:58:31 AM, brontoraptor wrote:
http://www.usdebtclock.org...

Reaganomics..............................LOL.

Whatever way you look at it, GWB and Reagan were the worst. Not that you will get anything other than bullsh1t excuses from Republicans, but the numbers are clear.

"President Obama has the largest deficits. By the end of his last budget (FY 2017), the total deficits will be $6.695 trillion for his eight years in office. Obama started off launching the $787 billion economic stimulus package that cut taxes, extended unemployment benefits, and funded job-creating public works projects. The Obama tax cuts added $858 billion to the debt in its first two years. Most important was increased defense spending, which added as much as $800 billion a year. Federal income decreased due to lower tax receipts from the 2008 financial crisis."

http://useconomy.about.com...