POTUS 45:46: New Year, Same 'Ol Crap.

[BassAle]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

Any real solution is going to have to involve more revenue and less spending.

we can start with a 10-year scaling down of the defense budget. Seems like a target of cutting it in half would be a good starting point.

[Kepler]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

Any real solution is going to have to involve more revenue and less spending.

Not really. Genuine investment spending (people, infrastructure) more than pays for itself. We can certainly cut the corporate welfare but the way out of the deficits is to finally return to revenue sanity. The 1% are into us for about $10T since Reagan created the tax cut Santa Claus. Claw that back and we are well on our way to fiscal sanity. Not to mention that inequality is very expensive (corruption, crime, cronyism) so a return to egalitarianism will also pay for itself.

The US was led on a 38-year wild goose chase by the supply siders. Verdict's in. Time for the super wealthy to end.

[ScoobyDoo]

Not really. Genuine investment spending (people, infrastructure) more than pays for itself. We can certainly cut the corporate welfare but the way out of the deficits is to finally return to revenue sanity. The 1% are into us for about $10T since Reagan created the tax cut Santa Claus. Claw that back and we are well on our way to fiscal sanity. Not to mention that inequality is very expensive (corruption, crime, cronyism) so a return to egalitarianism will also pay for itself.

The US was led on a 38-year wild goose chase by the supply siders. Verdict's in. Time for the super wealthy to end.

No. They're into us for the whole 23 trillion.

[FadeToBlack&Gold]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

My bad, I mis-typed. Warren, not Sanders. Sanders scares me.

I was just about to ask, since when did you drink the Leninade?

[5mn_Major]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

Um... yeah... a lot of what he did lead to the economic disaster of 2008. https://www.businessinsider.com/how-...economy-2012-9

The whole premise of that article is wrong. Why did lending practices to the poor work so well for a decade? Likewise, the 'drag' on the economy of balancing the budget also supposedly took 10 years to have an impact. No way. The economy crashed because the Bush administration eliminated oversight of lending practices in 2004/5 on the heels of a housing bubble - tie that to poor tax laws and whammy. All that occured 8 years into the Bush administration. Nope. You cannot blame the great recession on Clinton.

[mookie1995]

The whole premise of that article is wrong. Why did lending practices to the poor work so well for a decade? Likewise, the 'drag' on the economy of balancing the budget also supposedly took 10 years to have an impact. No way. The economy crashed because the Bush administration eliminated oversight of lending practices in 2004/5 on the heels of a housing bubble - tie that to poor tax laws and whammy. All that occured 8 years into the Bush administration. Nope. This is on the Geo Bush administration and congress.

Why wasn’t that priced into the market

[leswp1]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

I never said I want to eliminate the debt or eliminate the deficits. I said we need to worry about it. We need to worry that people actually think the 1.5 trillion they just stole is going to be paid for by economic expansion (which is what the majority of Americans believe). If we started believing that paying off everyone's student debt and giving them free college or tech school for two years would pay for itself I would be 100% onboard. And that's how you pay as you go. You pay as you go BY knowing that supply side is a crock of **** and actually investing in the American People pays dividends.

I remember when they floated this BS back when I was in college. I wasn't majoring in economics but I couldn't understand how the hell anyone thought this would work. It didn't. And they I couldn't understand how no one seemed to be pointing out what happened was a result of trying the strategy. Like all the mess afterward just came out of nowhere. And the lack of collective memory when they started selling the BS again continues to baffle me

we can start with a 10-year scaling down of the defense budget. Seems like a target of cutting it in half would be a good starting point.

Heard some interesting stuff about this a bit ago. Seems like a great idea but the spending drives the economy in places I hadn't considered before. Every time you decrease spending there is an impact. Wish I could remember more specifics but the premise is sound even without links. The money isn't spent into a vacuum.

[FadeToBlack&Gold]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

Warren's better than Bernie. She's smarter. She understands policy better. She understands money better. All this **** needs to get paid for.

I don't disagree, but the average American doesn't dig "smarter". We tried that with Hillary, and it failed.

[unofan]

There are plenty of candidates that work. Beto is the Charisma magnet. Not sure why but he's got it.

And charisma is king. Dems need to remember that.

[Rover]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

The whole premise of that article is wrong. Why did lending practices to the poor work so well for a decade? Likewise, the 'drag' on the economy of balancing the budget also supposedly took 10 years to have an impact. No way. The economy crashed because the Bush administration eliminated oversight of lending practices in 2004/5 on the heels of a housing bubble - tie that to poor tax laws and whammy. All that occured 8 years into the Bush administration. Nope. You cannot blame the great recession on Clinton.

The author is a card carrying loon. Small wonder trix is quoting his articles from 6 years ago!

[Drew S.]

Not really. Genuine investment spending (people, infrastructure) more than pays for itself. We can certainly cut the corporate welfare but the way out of the deficits is to finally return to revenue sanity. The 1% are into us for about $10T since Reagan created the tax cut Santa Claus. Claw that back and we are well on our way to fiscal sanity. Not to mention that inequality is very expensive (corruption, crime, cronyism) so a return to egalitarianism will also pay for itself.

The US was led on a 38-year wild goose chase by the supply siders. Verdict's in. Time for the super wealthy to end.

Not all spending is the same, and I’m not saying we should increase revenue/cut spending in equal measure. I couldn’t agree with you more on trying to reduce inequality.

[Kepler]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

And charisma is king. Dems need to remember that.

It sure doesn't hurt.

[5mn_Major]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

The author is a card carrying loon. Small wonder trix is quoting his articles from 6 years ago!

Yeah. I just don't know how balancing the budget in 1998 creates a major recession in 2008 when the intervening years of 2003-2006 saw the budget and debt explode again. The logic is impossible.

[Rover]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

Yeah. I just don't know how balancing the budget in 1998 creates a major recession in 2008 when the intervening years of 2003-2006 saw the budget and debt explode again. The logic is impossible.

Its like George W Bush (Iraq War, huge tax cut) never existed! If only....

[trixR4kids]

Re: POTUS 45:46: New Year, Same 'Ol Crap.

The whole premise of that article is wrong. Why did lending practices to the poor work so well for a decade? Likewise, the 'drag' on the economy of balancing the budget also supposedly took 10 years to have an impact. No way. The economy crashed because the Bush administration eliminated oversight of lending practices in 2004/5 on the heels of a housing bubble - tie that to poor tax laws and whammy. All that occured 8 years into the Bush administration. Nope. You cannot blame the great recession on Clinton.

Bush didn't eliminate Glass Steagall. We also weren't in Iraq nor had the Bush tax cuts been passed when the recession in 2001 occurred.

And it didn't "work well" it just drove up household/private sector debt for years and savings drastically decreased. And yes, not everything a president does happens in a vacuum where the effects of their policies are immediate.

I'm not blaming the crisis solely on Clinton but it can't be solely blamed on Bush either that's asinine.

The author is a card carrying loon. Small wonder trix is quoting his articles from 6 years ago!

Good thing he's not the only person who wrote largely the same thing. Nor have we had other periods in our economic history in which we balanced the budget only for it to be followed by a recession or great depression.