Boston Marathon!!

[knabe]

Why don't you review the data for us and refute the conclusions and make a conclusion yourself at what %gdp our debt level should be at and should we ever be bothered with printing more money or choosing winners and losers and or limiting what the federal government should be involved in.

What percent debt are you comfortable with as a percentage of the budget?

More than 100%?

 

[hamburgman]

I fail to see a magic number when it comes to a debt to gdp ratio.  Japan being exhibit A, and Britain history being exhibit B.  I believe the whole picture must be taken into consideration.  Balance a budget in good times, be willing at certain times to run deficits but not be irresponsible. 

 

[knabe]

So if the debt equaled revenue that would be ok?

I mean what's really wrong with a 100% tax bracket?

Why should anyone really have the right to decide what work they should do for what wage.


Perhaps we should adjust wages to revenue.

Profit should be outlawed.

 

[BLININ]

How did this thread go there! U had to crazy Muslims, then it goes to debt really!!!!!! This will happen again for sure, u can't legislate idiots that thank they have a cause!!!!!!!

 

[BLININ]

Really folks this is sad both parties have dropped this issue!

 

[knabe]

Gun regulation costs money. I think it would add to the debt.

Since debt doesn't really exist, there really is no cost constraint on government.

 

[RyanChandler]

Since debt doesn't really exist,

(thumbsup)

 

[knabe]

Since debt doesn't really exist,

(thumbsup)

And no property rights or contracts.

Libs will soon have their dream of squatting and therefore violence by any means necessary as they don't respect other people, their views or their assets. They are simply intolerant of diversity.

 

[knabe]

http://www.investigativeproject.org/3947/special-travel-benefit-for-saudis-a-slap-in

What a joke. This is treason.

 

[BLININ]

Everybody seems to forget we created Bin Laden and the Taliban to fight the Russians! We trained them! It's always our government shortsided policies! The list goes on and on! But Obama has had more drone attacks than any one ever! And no don't say I'm a democrat or a republican!

 

[knabe]

that type of stuff has been going on for centuries.

it even goes on at the workplace.

power hates a vacuum.

the constitution was set up to distribute power and we have been undoing it ever since.

 

[hamburgman]

Everybody seems to forget we created Bin Laden and the Taliban to fight the Russians! We trained them! It's always our government shortsided policies! The list goes on and on! But Obama has had more drone attacks than any one ever! And no don't say I'm a democrat or a republican!

Listened to a guy who was a CIA director and was very very involved in that whole thing against the Russians.  He said he never worked with Bin Laden and not much US money ever got to the guy.  It was a really amazing speech.  He talked about how resourceful Afghans were when it came to fighting the Russians and also discussed how it was never part of the legalized plan for the CIA to help set up a government after the Russians left.

 

[knabe]

Yeap the press did a great job of investigating Reinhart-Rogoff looking for accuracy.  Sad what counts as intellectualism on the right at times.

what did your investigation reveal?

http://www.nytimes.com/2013/04/26/opinion/debt-growth-and-the-austerity-debate.html?pagewanted=all&_r=0

"In short: many countries around the world have extraordinarily high public debts by historical standards, especially when medical and old-age support programs are taken into account. Resolving these debt burdens usually involves a transfer, often painful, from savers to borrowers. This time is no different, and the latest academic kerfuffle should not divert our attention from that fact."

hence the push for immigration.  the trouble with that will be obvious but never stated is extended immigration from all races, not just latino, as they only represent 60% of immigration.

most billing for a variable service are set up to have a rate charged for a fixed portion, and then a variable portion for amount used, and then another portion for reserves.  current government policies ignore all of this rational billing in favor of making current bill payers pay for non-payers in both the form of increased taxes and insurance rates.

 

[BTDT]

Gun regulation costs money. I think it would add to the debt.

Since debt doesn't really exist, there really is no cost constraint on government.

You're either a banker or a farmer!

No government can legislate stupidity, morality, or justice.  What happened at Boston was so very sad. But it will happen again, different time, different place and different "cause". 
That is the price of freedom. May the price be worth the cost. 

 

[hamburgman]

Was reading the paper and conclusions can be summarized as:
1. 90% debt to gdp level are associated with notable lower growth levels.
  This has since then been proven false after the spreadsheet error and the cherry picking of countries with high debt who did have good economic growth and did grow out of their debt.
    They say in their conclusions they have do not know why 90% is the magic number and it warrants investigating.

2. The financial crisis will cause governments to run up debt to deal with the issue.
  This is interesting because the language afterwards talks about trying to minimize the debt burden for better future prospects.  As a few countries have shown to try and cut your way to a balanced budget when up against the zero bound, low demand and high unemployment you can actually make your debt burden worse and end up causing needless pain.  Saying we need pain though to make this all go away is the easy political strategy that makes you look like a hard thinker.



What gets interesting then is how avoiding this 90% threshold was used by people to come up with really bad budgets with horribly false numbers to avoid going over the cliff.

 

[knabe]

2. The financial crisis will cause governments to run up debt to deal with the issue.

having access to spend other people's money with less and less recourse through policy and protection from competition causes government to run up debt.

 

[mark tenenbaum]

OK-as far as spending "other peoples" money YATTA YATTA -who started THAT BALL ROLLING-under what administration and in what time period DID THE US FALL from being the largest lender to the largest debtor in the world? Everything is black and white here,so give me a straight answer.. The US and the dollar rebuilt the whole world (per-se) after ww11 and Korea-WE STILL OWN THEM BY default-if we go-China goes: yatta yatta-Right now we need a new thread about nerve gas in Syria-I do believe that O Bama, Mcain , (they are a lot tighter than you will ever admit) and the military-AINT GONNA TAKE no sh6880t on this one. O0

 

[knabe]

-who started THAT BALL ROLLING-under what administration and in what time period DID THE US FALL from being the largest lender to the largest debtor in the world?

1913 or andrew jackson.  one could say eisenhower, or clinton with the help of gingrich.

 

[mark tenenbaum]

If my memory serves me right-we were in the best financial balance ever-when Busch 2 (no not the clone LOL) took office O0

 

[RyanChandler]

If my memory serves me right-we were in the best financial balance ever-when Busch 2 (no not the clone LOL) took office O0

Since 1940, we have only had a budget surplus 12 years - 3 of which were while Clinton was in office. In dubyas first year of office, he oversaw a budget fall from a $127B surplus to a Deficit of $257B.