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It is commonly thought that the huge debt is a drag on the economy, Paul Ryan and the GOP have adopted this putative as a basis to attack Obama, toss Bush II under the bus and impede efforts to create jobs, stimulate the economy and repair, replace and renovate our aging infrastructure.
What if Ryan and the GOP are wrong?
See:
How a student took on eminent economists on debt issue - and won
Wrong about what?
Everyone agrees that the debt is a drag, including Obama, Ryan, Gop, Democrats and the study you cited.
Some people of course expect the debt to benefit you more than it costs. I don't since taking debt is just too great of an incentive for politicians to just blow your money, buying votes and doing very little that's worhwhile, or something that anyone would do with their own cash. Also since US is supposedly recovering, and is already very indebted, there is no point in taking more debt.
Of course paying interest prevents using one's money more wisely. But the Federal Government is not a person and no one will ever foreclose on the United States. We need to create jobs and our nation's infrastructure is in need of attention. We need to raise revenues and creating jobs does just that, and we need the Congress to prioritize how best to spend the money to aid the nation, not focus on those who bribe or threaten them.
Cutting services and benefits to the aged and infirm does not make their needs go away. They will seek help from their state and local government - both of which are also cutting away bone - the fat was gone decades ago.
I blame the electorate and the total lack of accountability required from politicians. Whoever said this was right:
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover they can vote themselves largess out of the public treasury."
Third world here we come.
It is commonly thought that the huge debt is a drag on the economy, Paul Ryan and the GOP have adopted this putative as a basis to attack Obama, toss Bush II under the bus and impede efforts to create jobs, stimulate the economy and repair, replace and renovate our aging infrastructure.
What if Ryan and the GOP are wrong?
See:
How a student took on eminent economists on debt issue - and won
Wrong about what?
Everyone agrees that the debt is a drag, including Obama, Ryan, Gop, Democrats and the study you cited.
Some people of course expect the debt to benefit you more than it costs. I don't since taking debt is just too great of an incentive for politicians to just blow your money, buying votes and doing very little that's worhwhile, or something that anyone would do with their own cash. Also since US is supposedly recovering, and is already very indebted, there is no point in taking more debt.
Of course paying interest prevents using one's money more wisely. But the Federal Government is not a person and no one will ever foreclose on the United States. We need to create jobs and our nation's infrastructure is in need of attention. We need to raise revenues and creating jobs does just that, and we need the Congress to prioritize how best to spend the money to aid the nation, not focus on those who bribe or threaten them.
Cutting services and benefits to the aged and infirm does not make their needs go away. They will seek help from their state and local government - both of which are also cutting away bone - the fat was gone decades ago.
Of course paying interest prevents using one's money more wisely. But the Federal Government is not a person and no one will ever foreclose on the United States.We need to create jobs and our nation's infrastructure is in need of attention. We need to raise revenues and creating jobs does just that, and we need the Congress to prioritize how best to spend the money to aid the nation, not focus on those who bribe or threaten them.
Cutting services and benefits to the aged and infirm does not make their needs go away. They will seek help from their state and local government - both of which are also cutting away bone - the fat was gone decades ago.
Instead the GOP has refocused itself on the traditional wedge issues, Abortion, God, Guns, Gays and defending the wealthy and the financial services industry from the tax man...
First we need to create private sector jobs to grow the economy and raise revenues.
Do you not know that private contractors hire private sector employees to complete government projects (roads, bridges, etc.)?
However, I'm more curious as to why you think we need to raise revenues and collect more taxes from the wealthy and financial services (specifically for some reason) when the whole point of the OP is, oh that's right... the size of the debt does not matter.
You sarcasm aside we need to reduce the annual deficits; some of the cuts advocated by Ryan and the GOP have impacts on local and state government, many of which are in fiscal trouble. I also stated spending on interest is not a good idea, but, the danger of the debt has been exaggerated for political expediency.
Too funny.
On EDIT:
Not for nothing but I forgot to add that it was the Democrat Party who "refocused itself on the traditional wedge issues, Abortion, God, Guns, Gays", not the Republicans. The Dems wanted brand spanking new gun regulations and laws and have been driving the issue through their media pals. It's the Dems who, through the ongoing writing and rewriting of Obamacare are bringing up issues like abortion, contraception and religious freedom. And finally it's the Democrats who are flopping like dominoes to a new post-election position on gay marriage. (granted, they are flip flopping to the correct position on gay marriage IMO but that's not the point) The point is your point is full of crap.
I believe too much wealth in the hands of too few is the road to hell for a demoratic republic. When the legislatures in the states (and even council members in cities and counties) and the Congress are primarily focused on their own jobs (getting reelected) we are already on that road to perdition.
I believe too much wealth in the hands of too few is the road to hell for a demoratic republic. When the legislatures in the states (and even council members in cities and counties) and the Congress are primarily focused on their own jobs (getting reelected) we are already on that road to perdition.
Then it should horrify you for the federal government to have the power to spend 25% of GDP.
It is commonly thought that the huge debt is a drag on the economy, Paul Ryan and the GOP have adopted this putative as a basis to attack Obama, toss Bush II under the bus and impede efforts to create jobs, stimulate the economy and repair, replace and renovate our aging infrastructure.
What if Ryan and the GOP are wrong?
See:
How a student took on eminent economists on debt issue - and won
It is commonly thought that the huge debt is a drag on the economy,
It is commonly thought that the huge debt is a drag on the economy, Paul Ryan and the GOP have adopted this putative as a basis to attack Obama, toss Bush II under the bus and impede efforts to create jobs, stimulate the economy and repair, replace and renovate our aging infrastructure.
What if Ryan and the GOP are wrong?
See:
How a student took on eminent economists on debt issue - and won
It is commonly thought that the huge debt is a drag on the economy, Paul Ryan and the GOP have adopted this putative as a basis to attack Obama, toss Bush II under the bus and impede efforts to create jobs, stimulate the economy and repair, replace and renovate our aging infrastructure.
What if Ryan and the GOP are wrong?
See:
How a student took on eminent economists on debt issue - and won
This is going to get very ugly very quickly. The R--R paper and book are virtually the only evidence of a statistically significant negative effect on growth caused by public debt. No one has been able to replicate R--R's results, because they were very vague about their dataset. Now it turns out they committed errors and used a highly deceptive methodology that explains their results. In short, they committed an academic fraud, have been caught at it, and the entire basis of their 90% debt-to-GDP threshold beloved by Ryan is completely bogus.
I have read the R--R paper, the Hansen paper, and the OECD study. If anyone wants to argue the merits of the R--R thesis, I suggest they do the same. Anyone making an argument by quoting political second hand sources on this is a charlatan. This is clearly the biggest scandal to hit the econometrics profession in more than a half century.
This is going to get very ugly very quickly. The R--R paper and book are virtually the only evidence of a statistically significant negative effect on growth caused by public debt. No one has been able to replicate R--R's results, because they were very vague about their dataset. Now it turns out they committed errors and used a highly deceptive methodology that explains their results. In short, they committed an academic fraud, have been caught at it, and the entire basis of their 90% debt-to-GDP threshold beloved by Ryan is completely bogus.
I have read the R--R paper, the Hansen paper, and the OECD study. If anyone wants to argue the merits of the R--R thesis, I suggest they do the same. Anyone making an argument by quoting political second hand sources on this is a charlatan. This is clearly the biggest scandal to hit the econometrics profession in more than a half century.
how is an admitted regrettable slip that doesn't change the result a scandal??????????????
Here's what authors said: "We do not, however, believe this regrettable slip affects in any significant way the central message of the paper or that in our subsequent work."
I believe too much wealth in the hands of too few is the road to hell for a demoratic republic. When the legislatures in the states (and even council members in cities and counties) and the Congress are primarily focused on their own jobs (getting reelected) we are already on that road to perdition.
Then it should horrify you for the federal government to have the power to spend 25% of GDP.
The Federal Government can be changed peacefully or violently, as anyone who has studied history should know. In Nov. 2010 we had a major change driven by the power elite who convinced the voters that any change to health care in America was the first step on the road to communism. The dumb ones bought that 'argument' hook, line and sinker. Much as they did when the issue of gun control was comported into the wholesale confiscation and a repeal of the Second Amendment. Lies, lies and more lies.
The hoi polloi on the right are stupid and so easily manipulated it would be funny if not so serious. They still think the GOP will be able to repeal Roe, not knowing that the power elite don't give a damn about the unborn, their only reason to be anti abortion is because it gets votes. So, why would they ever repeal Roe. Hell, when they controlled the White House and both Houses of The Congress nary a bill was floated on the issue. And still the dumb bunnies believe.
As always; look at the research!!
Ignore the actual results, that ended in horror for most countries.
I don't get it.
You see it works on paper, then you see the results fail, multiple times in real life, but then you want to do whats on the paper again.
I'll repeat
Spending got us to where we are today.
since this is going over liberal heads;
Insanity: doing the same thing over and over again and expecting different results.
oft thought to be a quote of Einstein.
Then it should horrify you for the federal government to have the power to spend 25% of GDP.
The Federal Government can be changed peacefully or violently, as anyone who has studied history should know. In Nov. 2010 we had a major change driven by the power elite who convinced the voters that any change to health care in America was the first step on the road to communism. The dumb ones bought that 'argument' hook, line and sinker. Much as they did when the issue of gun control was comported into the wholesale confiscation and a repeal of the Second Amendment. Lies, lies and more lies.
The hoi polloi on the right are stupid and so easily manipulated it would be funny if not so serious. They still think the GOP will be able to repeal Roe, not knowing that the power elite don't give a damn about the unborn, their only reason to be anti abortion is because it gets votes. So, why would they ever repeal Roe. Hell, when they controlled the White House and both Houses of The Congress nary a bill was floated on the issue. And still the dumb bunnies believe.
You talk like you're actually intelligent, yet nothing comes out when you move your lips, it's just a bunch of jibberish. The superiority of LOLberal retards that "think" they know what is best for everyone knows absolutely no bounds. Further, you changed the subject entirely because you have no valid response...as usual.
This is going to get very ugly very quickly. The R--R paper and book are virtually the only evidence of a statistically significant negative effect on growth caused by public debt. No one has been able to replicate R--R's results, because they were very vague about their dataset. Now it turns out they committed errors and used a highly deceptive methodology that explains their results. In short, they committed an academic fraud, have been caught at it, and the entire basis of their 90% debt-to-GDP threshold beloved by Ryan is completely bogus.
I have read the R--R paper, the Hansen paper, and the OECD study. If anyone wants to argue the merits of the R--R thesis, I suggest they do the same. Anyone making an argument by quoting political second hand sources on this is a charlatan. This is clearly the biggest scandal to hit the econometrics profession in more than a half century.how is an admitted regrettable slip that doesn't change the result a scandal??????????????
Here's what authors said: "We do not, however, believe this regrettable slip affects in any significant way the central message of the paper or that in our subsequent work."
Ed, for once in your fucking life pull your head out of your ass and read the fucking papers. Of course they deny the fraud. But once you make the three adjustments in the Hansen paper, there is no statistically significant relationship left. Do the math yourself if you know how. If you don't, shut up and leave the discussion to those who do.
As always; look at the research!!
Ignore the actual results, that ended in horror for most countries.
I don't get it.
You see it works on paper, then you see the results fail, multiple times in real life, but then you want to do whats on the paper again.
I'll repeat
Spending got us to where we are today.
since this is going over liberal heads;
Insanity: doing the same thing over and over again and expecting different results.
oft thought to be a quote of Einstein.
First of all, I think you have a mechanical problem with your post; I have no idea what you are talking about.
It does seem however that you are one of the folks who don't give a shit about research or professionalism at all; you're interest is limited to what suits your pre-conceived notions. If you had a brain, I would argue with you, but since you don't, such an effort is futile. You dismiss evidence you haven't even read and seem proud of it.
It is commonly thought that the huge debt is a drag on the economy, Paul Ryan and the GOP have adopted this putative as a basis to attack Obama, toss Bush II under the bus and impede efforts to create jobs, stimulate the economy and repair, replace and renovate our aging infrastructure.
What if Ryan and the GOP are wrong?
See:
How a student took on eminent economists on debt issue - and won
Once Americans are back to work and the economy fully recovered, we can address the issue of the debt.
Indeed, most conservatives and republicans advocate debt reduction
not to promote economic health but as part of a hidden agenda to raze the New Deal/Fair Deal/Great Society edifice.
