Why we want stimulus now and worry about deficits later

[Cammmpbell]

I can see that the debt has grown faster than GDP under Obama.

What do the voices in your head tell you?

One thing everybody who is a racist pig wants to ignore. The amount of annual interest Obama has to pay on the Reagan-Bushes debt:

Available Historical Data Fiscal Year End Interest On The Debt Outstanding

2011 $454,393,280,417.03
2010 $413,954,825,362.17
2009 $383,071,060,815.42
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
1997 $355,795,834,214.66
1996 $343,955,076,695.15
1995 $332,413,555,030.62
1994 $296,277,764,246.26
1993 $292,502,219,484.25
1992 $292,361,073,070.74
1991 $286,021,921,181.04
1990 $264,852,544,615.90
1989 $240,863,231,535.71
1988 $214,145,028,847.73

 

[Toddsterpatriot]

I can see that the debt has grown faster than GDP under Obama.

What do the voices in your head tell you?

One thing everybody who is a racist pig wants to ignore. The amount of annual interest Obama has to pay on the Reagan-Bushes debt:

Available Historical Data Fiscal Year End Interest On The Debt Outstanding

2011 $454,393,280,417.03
2010 $413,954,825,362.17
2009 $383,071,060,815.42
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
1997 $355,795,834,214.66
1996 $343,955,076,695.15
1995 $332,413,555,030.62
1994 $296,277,764,246.26
1993 $292,502,219,484.25
1992 $292,361,073,070.74
1991 $286,021,921,181.04
1990 $264,852,544,615.90
1989 $240,863,231,535.71
1988 $214,145,028,847.73

The smartest President in history said he would cut the deficit in half during his first term.
Didn't he know about interest when he made that promise?

 

[saveliberty]

I can see that the debt has grown faster than GDP under Obama.

What do the voices in your head tell you?

One thing everybody who is a racist pig wants to ignore. The amount of annual interest Obama has to pay on the Reagan-Bushes debt:

Available Historical Data Fiscal Year End Interest On The Debt Outstanding

2011 $454,393,280,417.03
2010 $413,954,825,362.17
2009 $383,071,060,815.42
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
1997 $355,795,834,214.66
1996 $343,955,076,695.15
1995 $332,413,555,030.62
1994 $296,277,764,246.26
1993 $292,502,219,484.25
1992 $292,361,073,070.74
1991 $286,021,921,181.04
1990 $264,852,544,615.90
1989 $240,863,231,535.71
1988 $214,145,028,847.73

The smartest President in history said he would cut the deficit in half during his first term.
Didn't he know about interest when he made that promise?

To be fair, he thought there was more money to raid in the SS fund.

 

[Cammmpbell]

I can see that the debt has grown faster than GDP under Obama.

What do the voices in your head tell you?

One thing everybody who is a racist pig wants to ignore. The amount of annual interest Obama has to pay on the Reagan-Bushes debt:

Available Historical Data Fiscal Year End Interest On The Debt Outstanding

2011 $454,393,280,417.03
2010 $413,954,825,362.17
2009 $383,071,060,815.42
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
1997 $355,795,834,214.66
1996 $343,955,076,695.15
1995 $332,413,555,030.62
1994 $296,277,764,246.26
1993 $292,502,219,484.25
1992 $292,361,073,070.74
1991 $286,021,921,181.04
1990 $264,852,544,615.90
1989 $240,863,231,535.71
1988 $214,145,028,847.73

The smartest President in history said he would cut the deficit in half during his first term.
Didn't he know about interest when he made that promise?

You're very wrong. The smartest president in history took over a monstrous debt, unemployment of more than 7%, raised taxes on the wealthy, balanced the annual budget, generated $450 billion of surplus in the form of off budget debt buy back, created 22 million new jobs, survived an attempt by the Republicans to impeach him, left an unemployment rate of about 4% and got a lot of pussy at the same time.

 

[Uncensored2008]

If you wanted your writing style resembling that of Marx, then you have succeeded -- and you are making even less sense than him.

LOL

Try Rothbard.

At any rate, see if you can grasp the concepts at play. Public debt can be mitigated in one of two ways; it can be repaid - which virtually never happens, or it can be devalued to irrelevance.

Let's take option #2, given that it's the one used 100% of the time. What is it that devalues? Securities and real property? Well, not so much. No, it's currency that is devalued through inflation. For those who have wealth in property - be it securities or real estate, the impact of currency devaluation is imperceptible. Ah, but those who rely on a savings account or other currency based options such as an annuity, are going to feel the impact as their wealth loses value.

So read my statement again, and see if you grasp it this time around;

Public debt is the means of stripping wealth from those who live by means of currency on behalf of those who live by means of property. Currency will bear 100% of the burden of debt, and thus ensure that the lower caste shoulders all of it.

 

[Uncensored2008]

You're very wrong. The smartest president in history took over a monstrous debt, unemployment of more than 7%, raised taxes on the wealthy, balanced the annual budget, generated $450 billion of surplus in the form of off budget debt buy back, created 22 million new jobs, survived an attempt by the Republicans to impeach him, left an unemployment rate of about 4% and got a lot of pussy at the same time.

What you post is bullshit - partisan idiocy.

But I will grant you this; Bill Clinton has more IQ points than Bush and Obama combined.

 

[saveliberty]

You're very wrong. The smartest president in history took over a monstrous debt, unemployment of more than 7%, raised taxes on the wealthy, balanced the annual budget, generated $450 billion of surplus in the form of off budget debt buy back, created 22 million new jobs, survived an attempt by the Republicans to impeach him, left an unemployment rate of about 4% and got a lot of pussy at the same time.

You're wrong to two counts. He's the worst president in modern history and he added 6.4T to the debt in four years.

US Federal Debt by Year - Charts Tables History

 

[Skull Pilot]

One thing everybody who is a racist pig wants to ignore. The amount of annual interest Obama has to pay on the Reagan-Bushes debt:

Available Historical Data Fiscal Year End Interest On The Debt Outstanding

2011 $454,393,280,417.03
2010 $413,954,825,362.17
2009 $383,071,060,815.42
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
1997 $355,795,834,214.66
1996 $343,955,076,695.15
1995 $332,413,555,030.62
1994 $296,277,764,246.26
1993 $292,502,219,484.25
1992 $292,361,073,070.74
1991 $286,021,921,181.04
1990 $264,852,544,615.90
1989 $240,863,231,535.71
1988 $214,145,028,847.73

The smartest President in history said he would cut the deficit in half during his first term.
Didn't he know about interest when he made that promise?

You're very wrong. The smartest president in history took over a monstrous debt, unemployment of more than 7%, raised taxes on the wealthy, balanced the annual budget, generated $450 billion of surplus in the form of off budget debt buy back, created 22 million new jobs, survived an attempt by the Republicans to impeach him, left an unemployment rate of about 4% and got a lot of pussy at the same time.

What proof is there that Bam Bam is the smartest president ever?

I would say that Jefferson, Adams and Madison are head and shoulders above Bam Bam

 

[Toddsterpatriot]

One thing everybody who is a racist pig wants to ignore. The amount of annual interest Obama has to pay on the Reagan-Bushes debt:

Available Historical Data Fiscal Year End Interest On The Debt Outstanding

2011 $454,393,280,417.03
2010 $413,954,825,362.17
2009 $383,071,060,815.42
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
1997 $355,795,834,214.66
1996 $343,955,076,695.15
1995 $332,413,555,030.62
1994 $296,277,764,246.26
1993 $292,502,219,484.25
1992 $292,361,073,070.74
1991 $286,021,921,181.04
1990 $264,852,544,615.90
1989 $240,863,231,535.71
1988 $214,145,028,847.73

The smartest President in history said he would cut the deficit in half during his first term.
Didn't he know about interest when he made that promise?

You're very wrong. The smartest president in history took over a monstrous debt, unemployment of more than 7%, raised taxes on the wealthy, balanced the annual budget, generated $450 billion of surplus in the form of off budget debt buy back, created 22 million new jobs, survived an attempt by the Republicans to impeach him, left an unemployment rate of about 4% and got a lot of pussy at the same time.

Yeah, but he waited until the Republicans took over the House and Senate before he did it.
And he raised taxes on everyone. Even little old ladies on Social Security.

 

[Toddsterpatriot]

One thing everybody who is a racist pig wants to ignore. The amount of annual interest Obama has to pay on the Reagan-Bushes debt:

Available Historical Data Fiscal Year End Interest On The Debt Outstanding

2011 $454,393,280,417.03
2010 $413,954,825,362.17
2009 $383,071,060,815.42
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
1997 $355,795,834,214.66
1996 $343,955,076,695.15
1995 $332,413,555,030.62
1994 $296,277,764,246.26
1993 $292,502,219,484.25
1992 $292,361,073,070.74
1991 $286,021,921,181.04
1990 $264,852,544,615.90
1989 $240,863,231,535.71
1988 $214,145,028,847.73

The smartest President in history said he would cut the deficit in half during his first term.
Didn't he know about interest when he made that promise?

To be fair, he thought there was more money to raid in the SS fund.

Well he has managed to bring Social Security into deficit territory.

 

[thereisnospoon]

Oh but it is. They were the first ones in 232 years to cut taxes for the wealthy and borrow trillions from foreign banks. By god I know. I was here. The Republican partty used to cry at the thought of debt. Now all they do is blame those who did the best they could to prevent it. Bill Clinton raised taxes and began to correct the problem...then along came George.

No it is not. You lefties have been making excuses for Obama's ineptitude by blaming past admins.
It is time you people suck it up and recognize that you have no fall back position.
It's Obama's watch. Tough shit.

The excuse is built in. You and Dick Cheney may think the fact that Obama assumed a $450,000,000,000 annual interest payment on Reagan and the Bushes debt is not important but it only proves how goddamed ignorant you are. Multiply the annual interest by three and VOILA!! Subtract $1,500,000,000,000 from Obama's debt and add it to Reagan-Bushes.

You should have stopped at "excuse". Because that is all you and Obama have. Excuses.
This guy has been in the White House for 37 months and your side refuses to accept responsibility.
Guess what? It's a campaign issue. Obama will have to defend it and you people will just have to live with it. Gas prices too.
It's all yours.
Don't make this personal. Keep the name calling out of it.

 

[ilia25]

At any rate, see if you can grasp the concepts at play. Public debt can be mitigated in one of two ways; it can be repaid - which virtually never happens

That is the first smart thing I heard from you.

or it can be devalued to irrelevance.

That is a misrepresentation of what really happens to debt. It is not devalued, whatever that means. Rather it is the economy becomes so big that it dwarfs the debt.

Let's take option #2, given that it's the one used 100% of the time. What is it that devalues? Securities and real property? Well, not so much. No, it's currency that is devalued through inflation.

Again, GDP growth would make any debt irrelevant even with zero inflation -- it would just take longer.

But it is true, a little inflation helps.

Ah, but those who rely on a savings account or other currency based options such as an annuity, are going to feel the impact as their wealth loses value.

First, those saving accounts do pay some interest and it gets higher when inflation is high.

Second, what inflation are you talking about anyway? 2-3% we have been having since early 80s? You think that is too much? In any case, the reason Fed sets its target inflation above zero has nothing to do with fiscal problems.

Public debt is the means of stripping wealth from those who live by means of currency on behalf of those who live by means of property. Currency will bear 100% of the burden of debt, and thus ensure that the lower caste shoulders all of it.

It is still a gibberish to me. But I understand why simpletons are in awe of such writing -- they see the style as an indication of the author's infinite wisdom.

 

[Immanuel]

The smartest President in history said he would cut the deficit in half during his first term.
Didn't he know about interest when he made that promise?

You're very wrong. The smartest president in history took over a monstrous debt, unemployment of more than 7%, raised taxes on the wealthy, balanced the annual budget, generated $450 billion of surplus in the form of off budget debt buy back, created 22 million new jobs, survived an attempt by the Republicans to impeach him, left an unemployment rate of about 4% and got a lot of pussy at the same time.

What proof is there that Bam Bam is the smartest president ever?

I would say that Jefferson, Adams and Madison are head and shoulders above Bam Bam

Bam Bam?

Read it again, he was talking about Clinton.

Immie

 

[thereisnospoon]

At any rate, see if you can grasp the concepts at play. Public debt can be mitigated in one of two ways; it can be repaid - which virtually never happens

That is the first smart thing I heard from you.

or it can be devalued to irrelevance.

That is a misrepresentation of what really happens to debt. It is not devalued, whatever that means. Rather it is the economy becomes so big that it dwarfs the debt.



Again, GDP growth would make any debt irrelevant even with zero inflation -- it would just take longer.

But it is true, a little inflation helps.

Ah, but those who rely on a savings account or other currency based options such as an annuity, are going to feel the impact as their wealth loses value.

First, those saving accounts do pay some interest and it gets higher when inflation is high.

Second, what inflation are you talking about anyway? 2-3% we have been having since early 80s? You think that is too much? In any case, the reason Fed sets its target inflation above zero has nothing to do with fiscal problems.

Public debt is the means of stripping wealth from those who live by means of currency on behalf of those who live by means of property. Currency will bear 100% of the burden of debt, and thus ensure that the lower caste shoulders all of it.

It is still a gibberish to me. But I understand why simpletons are in awe of such writing -- they see the style as an indication of the author's infinite wisdom.

Debt is devalued when it is monetized. Meaning, when borrowing becomes unsustainable, the federal printing presses are fired up, new currency is printed thus increasing the money supply which invariably results in currency markets selling off the USD.
Bottom line, federal deficits are bad on all levels. Period.
Add that to the fact that there is little the federal government does within budget and on time.

 

[saveliberty]

..and to regain control, you shrink government.

 

[ilia25]

Debt is devalued when it is monetized. Meaning, when borrowing becomes unsustainable

There is not a single reason for that happening in the US.

 

[saveliberty]

Debt is devalued when it is monetized. Meaning, when borrowing becomes unsustainable

There is not a single reason for that happening to the US.

The dollar is replaced with another world currency.

 

[Cammmpbell]

You're very wrong. The smartest president in history took over a monstrous debt, unemployment of more than 7%, raised taxes on the wealthy, balanced the annual budget, generated $450 billion of surplus in the form of off budget debt buy back, created 22 million new jobs, survived an attempt by the Republicans to impeach him, left an unemployment rate of about 4% and got a lot of pussy at the same time.

What you post is bullshit - partisan idiocy.

But I will grant you this; Bill Clinton has more IQ points than Bush and Obama combined.

I suggest you read this summary from the 106th congressional record if you doubt there were surpluses:

H.RES.490 -- Save Our Surplus for Debt Reduction and Tax Rebate Resolution of 2000 (Introduced in House - IH)
HRES 490 IH
106th CONGRESS
2d Session
H. RES. 490
To ensure that the fiscal year 2000 on-budget surplus is used to reduce publicly-held debt and provide tax relief to American taxpayers.
IN THE HOUSE OF REPRESENTATIVES
May 4, 2000
Mr. WELDON of Florida (for himself, Mr. ARMEY, Mr. DELAY, Mr. LARGENT, Mr. COBURN, and Mr. STEARNS) submitted the following resolution; which was referred to the Committee on Ways and Means

RESOLUTION
To ensure that the fiscal year 2000 on-budget surplus is used to reduce publicly-held debt and provide tax relief to American taxpayers.
Resolved,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Save Our Surplus for Debt Reduction and Tax Rebate Resolution of 2000'.
SEC. 2. FINDINGS AND PURPOSE.
(a) FINDINGS- Congress finds that--
(1) the Office of Management and Budget estimated in the President's fiscal year 2001 budget submission that the Government will have a $19,000,000,000 nonsocial security surplus (on-budget surplus) in fiscal year 2000;
(2) it is expected that in the summer of 2000, the Office of Management and Budget will estimate an even larger budget surplus for fiscal year 2000;
(3) Government spending in fiscal year 2000 will increase faster than the rate of inflation for a total of over $1,750,000,000,000;
(4) the public debt has been paid down by $51,000,000,000 in fiscal year 1998, $88,000,000,000 in fiscal year 1999, and current estimates are that $163,000,000,000 will be paid down in fiscal year 2000;

 

[Skull Pilot]

You're very wrong. The smartest president in history took over a monstrous debt, unemployment of more than 7%, raised taxes on the wealthy, balanced the annual budget, generated $450 billion of surplus in the form of off budget debt buy back, created 22 million new jobs, survived an attempt by the Republicans to impeach him, left an unemployment rate of about 4% and got a lot of pussy at the same time.

What proof is there that Bam Bam is the smartest president ever?

I would say that Jefferson, Adams and Madison are head and shoulders above Bam Bam

Bam Bam?

Read it again, he was talking about Clinton.

Immie

Clinton wasn't that smart either. if he was he wouldn't have been caught diddling an intern.

 

[Cammmpbell]

What proof is there that Bam Bam is the smartest president ever?

I would say that Jefferson, Adams and Madison are head and shoulders above Bam Bam

Bam Bam?

Read it again, he was talking about Clinton.

Immie

Clinton wasn't that smart either. if he was he wouldn't have been caught diddling an intern.

Democrats diddle a lot and brag about it
Republicans diddle a lot and lie about it