"Deficits Don't Count!"
Printed From: History Community ~ All Empires
Category: Regional History or Period History
Forum Name: Business History
Forum Discription: Discuss practical policies and business theory.
URL: http://www.allempires.com/forum/forum_posts.asp?TID=26913
Printed Date: 19-Apr-2024 at 23:39
Software Version: Web Wiz Forums 9.56a - http://www.webwizforums.com
Topic: "Deficits Don't Count!"
Posted By: charles brough
Subject: "Deficits Don't Count!"
Date Posted: 03-Apr-2009 at 12:19
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Early in the Bush Administration, the President stated that "deficits don't count" when Democrats complained about the large tax cut Republicans passed in Congress. Now, it seems that the Congressional leaders of the Republican Party are very concerned about the deficit. Still, it does seem that after the public showed their fury over the bonuses given by AIG to its executives---and the willingness of Congress to pass legislation against bonus---the Republican Party leadership has become rather quiet . . .  charles http://atheistic-science.com |
Replies:
Posted By: Sun Tzu
Date Posted: 04-Apr-2009 at 20:30
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lol yes I see your point, there was a Senator from Alabama I think A Republican and he had a chart he was diplaying showing our deficit. Well he used Pacman(yes Pacman video game dude) as a representation of our govt. borrowing too much from China. What kills me is that the guy was using a really dumb childish representation on a important issue and he was acting serious at the same time.
Also I find it funny that people constantly are against the stimulus bill but have no other solution.Not that I support the Stimulus bill 100% which I don't but as far as I'm concerned, I have no solution so I'm not going to complain. ...Wow who elects these people??? ------------- Sun Tzu All warfare is based on deception - Sun Tzu |
Posted By: Al Jassas
Date Posted: 05-Apr-2009 at 08:37
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Hello to you all
While deficits are worrying and potentially dangerous, opposition polititians tend to exaggerate their danger for pure political reasons. Current account deficits are much more dangerous since they affect the value of the currency directly but deficits, especially if they are internal deficits, are much safer.
For example, when republicans ruled, they defended aquiring massive deficits as necesary for growth but when running deficits was necessary for saving the economy they began to yell and scream. The US debt is about 80% of the GDP which is mild compared to Japans 180%. Yet the economy and currency in Japan is in good condition thanks to their current account balance.
Plus with Obama and Bush's packages, the federal government is actually going to make money just as the God of the conservative movement Reagan did when he bailed the banks in the savings and loans crisis.
The US budget, taxation and government accounting systems need a massive overhaul and currently is the best time to do that. Large amounts of money is wasted and never returned because of the complexity of laws and much tax money isn't collected at all despite that it can cancel a large part of the deficit.
Al-Jassas
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Posted By: Sun Tzu
Date Posted: 06-Apr-2009 at 03:47
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Yea, one thing we could cut back on is our defence budget which is just ridiculous, but with Afghanistan its probably not going to decrease too much. I just read a thing on the news that the Taliban is going to have 2 attacks per week in Afghanistan, lol who comes up with this. ------------- Sun Tzu All warfare is based on deception - Sun Tzu |