Eventually we will have to pay attention to the debt and the deficit

[justoffal]

Every time someone does the screams and the wails arise in a chorus of woe that is truly something to give one pause. Anyone with a heart will be affected by it and they know it too.

The foolish notion that we can just Keynes along forever without eventually bringing our accounts to right is a tool that the spend-o-maniacs love to use to shame the thrifters back into their place and into silence.

To date China and a few other creditors have been tolerant with us. However know this.....their generosity is not based on the fairy tale economy that our money supply is based on. We'll focus on China since they are the largest debtor. China does not engage in the same kind of financial chicanery that our own dear Federal Reserve system does when it's time to balance accounts....they live within their means and keep their currency pegged to the dollar at about eight to one.

That means in the final shakeout of exchange that the Chinese have real man hours on the other end in real time to back up their charity ( perhaps charity is the wrong word considering the massive interest payments that we make to them ). They benefit from the exchange rate though and I'm sure they would be careful not to screw that up...however Quantative easing pisses them off because it means that as the dollar devalues the man hours on the other end of the trade simply get flushed into the great crapper of cosmic nothingness....and I'm telling you they are not going to do that forever. For now they tolerate....but don't think for one minute that they don't have a limit....because they do. When they stop you will know it immediately.....everyone will be touched by it.

The White house position that there will be negotiations after the Pubs sign off on everything is like telling an enemy in war that we will sign a peace treat after we conquer them. Like telling a home owner that the foreclosure will stop after they move out. Like telling a hungry person that he or she can eat as soon as their appetite goes away. In other words it is an insult and a bullshit story.

Translated into modern English this is what it means:

" We will not change anything, delay anything or repeal anything " now what was it you wanted to talk about again?

Obama is not running for re-election and the dems are desperate to get rid of the sequester cuts that they dreamed up btw and now cannot live with.

The Unions are taking a massive beating under the sequester corrections and there must be hell to pay in all of the back rooms and congressional districts.

The longer the Republicans hold out.....the longer the sequester cuts will bring people across this nation back to their senses and back to the realization that we cannot borrow our way forward.

JO

 

[Rozman]

Why can't we just kick the can down the road time and time again.
Why can't we just spend a shitload of money,(money we don't have by the way!)to get out of this mess.

Why not spend trillions and trillions of dollars (see above comment)on the Democrat faves like,here's a few.

Infrastructure....
Education...
Health Care
Research
Entitlements,like food stamps,welfare,free housing,child care....well you get the idea.

Why can't we just continue as we are.

Spending other people's money always makes Libs feel good about themselves.
And when the shit finally hits the fan.

Well the Libs can follow that economic genius Paul Krugman and say it failed because we just didn't spend enough...

 

[JWBooth]

The brain dead turds on the left and the right are responsible for indoctrinating generations into believing that there is free money in Washington City, just theirs for the taking.

 

[eflatminor]

Sure, but that time to pay won't likely come until a future generation. I say fuck those yet to be born. We DESERVE to live large on their backs. Suckers!

 

[C_Clayton_Jones]

Eventually we will have to pay attention to the debt and the deficit

No one’s arguing otherwise.

Once the economy is fully recovered and Americans are back to work, the debt and the deficit should be the government’s focus. But spending cuts now would only harm the recovering economy and further delay addressing debt and the deficit.

 

[nicolondon]

I don't think anyone is disagreeing with this, but there are ways of doing this which don't hurt the economy and the GOP actions are making things worse rather than better.

The most important thing for an economy is consumer confidence and the current Washington debacle just destroys this. Companies will not recruit because of the uncertainty, foreign companies won't invest and consumers stop spending. The actions of the GOP are disgraceful and show that they don't care for ordinary Americans.

The surprise is that so many people continue to vote against their own self-interest, that hate and bigotry become all consuming and that people go and vote for a party that would throw them under a bus. People can moan about the Dems for a number of reasons but at least they show some shred of compassion and humanity, without this you just end up with an even bigger chasm between the rich and everyone else, people can scream socialism etc but without some semblance of this you end up with a horrid form of capitalism.

Yes the debt needs to be addressed but do this in a growing economy with larger tax receipts and less unemployed. The debt didn't appear overnight and needs a long term view, you can't fix it overnight.

 

[Rozman]

We have a chance to do something now.
the longer we put this off the choices will become fewer and fewer.

 

[Decus]

As everyone knows, austerity doesn't work. Talking about reigning in spending will cause you to lose friends, have people point at you and laugh, because we all know the truth - that austerity doesn't work.

"With nearly a third of the euro zone’s economic output and the lowest unemployment rate after Austria — 5.3 percent in July compared with 27.6 percent in Greece and 26.3 in Spain, according to Eurostat, Europe’s statistical agency — Germany is Europe’s undisputed economic powerhouse, and also its paymaster."

http://www.nytimes.com/2013/09/24/w...ictory-for-austerity.html?pagewanted=all&_r=0

 

[JakeStarkey]

Retrenchment does not work.

Grow the economy, get real jobs back (that means the GOP have to join governing the country), and then retrench.

 

[Decus]

The US has one of the best opportunities to grow employment and investment in the US that would lead to huge employment opportunities and increased tax receipts for the government but our politicians either can't see it or refuse to do it.

Provide some tax incentives and assure the continued production of cheap energy and manufacturing of all kinds would move operations from other parts of the world to be in the US. The anti-business sentiment and blindly green environmentalists are our biggest problems to realizing this potential.

Foreign Firms Tap U.S. Gas Bonanza - WSJ.com

European industry flocks to U.S. to take advantage of cheaper gas - Washington Post

 

[eflatminor]

spending cuts now would only harm the recovering economy

And that's where we disagree. The idea that is helpful to the economy for government to take from business and our most productive citizens, run that money through unmotivated and corrupt bureaucracies, and then spend it according to the will of central planners is what I find untenable. Government creates nothing, it redistributes inefficiently. If you really want to help the economy, cut the spending and cut the taxes. Free people and free markets will rock the economy...and no, that doesn't mean anarchy or dirty water!

 

[Taylee]

Eventually we will have to pay attention to the debt and the deficit

No one’s arguing otherwise.

Once the economy is fully recovered and Americans are back to work, the debt and the deficit should be the government’s focus. But spending cuts now would only harm the recovering economy and further delay addressing debt and the deficit.

Problem is, that isn't going to happen as long as Obama and the Democrats control most of government. It hasn't improved significantly in almost five years. What makes anyone think it will miraculously change now? In fact, it will probably only get worse.

That said, the only way the economy will improve is if a conservative gets elected in the WH with a conservative majority in Congress. And if or when that ever happens again....the bottom will be yanked out from under the economy by the Feds and the REAL collapse will occur. It's a lose-lose scenario and future, any way you cut it.

 

[Quantum Windbag]

There is no eventually about it.

 

[Quantum Windbag]

Eventually we will have to pay attention to the debt and the deficit

No one’s arguing otherwise.

Once the economy is fully recovered and Americans are back to work, the debt and the deficit should be the government’s focus. But spending cuts now would only harm the recovering economy and further delay addressing debt and the deficit.

Really?

If no one is arguing otherwise why is Obama claiming that it is unprecedented to demand fake spending cuts tied to a debt ceiling increase?

By the way, did you know that if we actually followed Keynesian theories we would be cutting spending until we do not have a deficit, and be paying down the debt, because that is exactly what we have to do to maintain a growing economy?

 

[Quantum Windbag]

I don't think anyone is disagreeing with this, but there are ways of doing this which don't hurt the economy and the GOP actions are making things worse rather than better.

The most important thing for an economy is consumer confidence and the current Washington debacle just destroys this. Companies will not recruit because of the uncertainty, foreign companies won't invest and consumers stop spending. The actions of the GOP are disgraceful and show that they don't care for ordinary Americans.

The surprise is that so many people continue to vote against their own self-interest, that hate and bigotry become all consuming and that people go and vote for a party that would throw them under a bus. People can moan about the Dems for a number of reasons but at least they show some shred of compassion and humanity, without this you just end up with an even bigger chasm between the rich and everyone else, people can scream socialism etc but without some semblance of this you end up with a horrid form of capitalism.

Yes the debt needs to be addressed but do this in a growing economy with larger tax receipts and less unemployed. The debt didn't appear overnight and needs a long term view, you can't fix it overnight.

You are right about one thing, you don't think.

 

[Quantum Windbag]

As everyone knows, austerity doesn't work. Talking about reigning in spending will cause you to lose friends, have people point at you and laugh, because we all know the truth - that austerity doesn't work.

"With nearly a third of the euro zone’s economic output and the lowest unemployment rate after Austria — 5.3 percent in July compared with 27.6 percent in Greece and 26.3 in Spain, according to Eurostat, Europe’s statistical agency — Germany is Europe’s undisputed economic powerhouse, and also its paymaster."

http://www.nytimes.com/2013/09/24/w...ictory-for-austerity.html?pagewanted=all&_r=0

You are 100% right, austerity does not work. To prove that all we have to do is look at the way the economy of Germany collapsed when they refused Obama's advice to use stimulus spending.

Wait...

 

[Quantum Windbag]

Retrenchment does not work.

Grow the economy, get real jobs back (that means the GOP have to join governing the country), and then retrench.

Keynes would disagree with you if he was still alive. His theory calls for cutting deficit spending whenever the economy goes positive, even if it is only a small amount. We generally did that in previous recoveries, but not this time. Can you show me, using actual historical numbers, why that policy was wrong?

 

[Quantum Windbag]

The US has one of the best opportunities to grow employment and investment in the US that would lead to huge employment opportunities and increased tax receipts for the government but our politicians either can't see it or refuse to do it.

Provide some tax incentives and assure the continued production of cheap energy and manufacturing of all kinds would move operations from other parts of the world to be in the US. The anti-business sentiment and blindly green environmentalists are our biggest problems to realizing this potential.

Foreign Firms Tap U.S. Gas Bonanza - WSJ.com

European industry flocks to U.S. to take advantage of cheaper gas - Washington Post

Let me guess, when you say cheap energy you actually mean expensive alternative energy, not natural gas fracking, which is actual real world cheap energy.