Bill Clinton Says He Likes Paul Ryan's Budget When He Thinks He's in Private

[joe bloe]

Originally Posted by CJ7

social security wasnt the sole factor, if you bother to read ...

Read my post again. I said there were a lot of positive factors that came together, a perfect storm. We were downsizing the military after the Soviet collapse, we got huge gains in productivity because of advances in computer technology, and yes the Republican congress did exercise some measure of restraint in spending.

Looting Social Security was a huge factor, because the Boomers were not retiring yet, and they were in their peak earning years.

[CJ7]

maybe I didnt say the last 12 years

[joe bloe]

Originally Posted by CJ7

after the last 12 years I have a hard time seeing how ... I dont think it'll come down to the ashes, but I do see taxes being adjusted to levels necessary to keep from going to ashes ... at present we hve an option to adjust marginally, but hell no.. the pledge signers actually want to swim in ashes up to their asses.

I honestly haven't seen any plan that balances the budget by just raising taxes. You can't just project revenue based on tax increases, as if the increases won't supress growth.

Beyond a certain point, tax increases actually reduce revenue. If you try to tax the rich at 99% you'll get nothing. Our only chance to balance, is to cut spending substantially. I just don't think it's politically possible. Cutting entitlements is going to require people to vote contrary to their short term self interest. Eating the seed corn is a bad long term strategy; but in the short term it makes people happy.

[CJ7]

of course not, tantamount to tax adjustments, spending cuts alone dont offer a situation that will come close to balancing a budget

[joe bloe]

Even if tax increases did actually increase revenue, the government would just spend it on new programs and new entitlements. We've got to starve the beast. Giving the government more money in hopes that they won't waste it is absurd. At some point, we have to say the government is big enough, that's it no more! Otherwise it will just keep growing until it chokes out the private sector completely.

[CJ7]

your only hope is the very thing you constantly rail about

g'luck

[joe bloe]

Originally Posted by CJ7

your only hope is the very thing you constantly rail about

g'luck

That's why I think there's a good chance our problem may not be solvable. Depending on how it's calculated, our long term obligations are roughly 100 to 200 trillion dollars. It looks to me like we're probably past fixing. I hope I'm wrong.

[Whirlaway]

In dealing with debtors, creditors look to what course of action the debtor is taking to right the sinking ship - the workout plan.....In looking at the dysfunctional debate coming out of Washington it appears that we have no credible plan. Creditors are taking note and we can expect to see interest rates rise, credit ratings go down, and access to capital to decline. All bad news for working and middle class Americans. Obama is well on his way to the destruction of America.

[CJ7]

Originally Posted by Whirlaway

In dealing with debtors, creditors look to what course of action the debtor is taking to right the sinking ship - the workout plan.....In looking at the dysfunctional debate coming out of Washington it appears that we have no credible plan. Creditors are taking note and we can expect to see interest rates rise, credit ratings go down, and access to capital to decline. All bad news for working and middle class Americans. Obama is well on his way to the destruction of America.

and that would make it nice if Romney presented his ideas for salvaging the country wouldnt it?

[Whirlaway]

Romney will be very strong in dealing with the debt issue; you likely won't like the medicine, but it will be good for you.

[CJ7]

Originally Posted by Whirlaway

Romney will be very strong in dealing with the debt issue; you likely won't like the medicine, but it will be good for you.

you guess.

[joe bloe]

Originally Posted by Whirlaway

In dealing with debtors, creditors look to what course of action the debtor is taking to right the sinking ship - the workout plan.....In looking at the dysfunctional debate coming out of Washington it appears that we have no credible plan. Creditors are taking note and we can expect to see interest rates rise, credit ratings go down, and access to capital to decline. All bad news for working and middle class Americans. Obama is well on his way to the destruction of America.

Exactly. Our creditors have to believe we're serious about dealing with the spending, otherwise, they won't continue to lend to us. They're not stupid. They know eventually we'll have to pay our debt with a worthless dollar and they don't intend to get screwed.

[CuteOldGuy]

When the economy collapses, who wins?

[WTF]

Originally Posted by CuteOldGuy

When the economy collapses, who wins?

Usually the rich do just fine, unless you are Marie Antoinette's and Louis XVI

[WTF]

Originally Posted by Whirlaway

Romney will be very strong in dealing with the debt issue; you likely won't like the medicine, but it will be good for you.

Really, how so?

No slogans, tell me a real plan.