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Hillary: US Debt shows sign of weakness
- Thread starter Facetious
- Start date
Great point! Now you should join her in not renewing the annual $300 billion we've been piling on the debt since 2002 in the form of "tax cuts" for the 2 percenters. After all, what did GWB get for it other than the worst economy since the Great Depression?
Time to draw the curtains on it wouldn't you say? After all, "we're mortgaging our children's future" aren't we?? :tongue:
The mounting debt from the Iraqi excursion should be ceasing too...so we're on the right track Face...:clap:
Facetious
Moderated
How did I know that the long gone gwb would be erroneously dragged into this? :clap:
Changing the argument is soooo yesterday.
it's not a secret that the debt (expecially foreign) poses a major threat in the exercise of sovereignty. for the usa imho the situation worsens if we consider that a relevant part of the soverign debt is detained by PRC...
The wars too are expensive, and in the last years afghanistan and iraq costed too much for every nation that took part
The wars too are expensive, and in the last years afghanistan and iraq costed too much for every nation that took part
vodkazvictim
Why save the world, when you can rule it?
The us is slowly drawing out of Afghanistan.
All they need to do is have a few operatives with a bit of money remain;
AFGHANS WILL FIGHT FOR $6 A DAY.
Now THAT'S value for money. Just hire them to knock each other off. No need to worry about casualties.
All they need to do is have a few operatives with a bit of money remain;
AFGHANS WILL FIGHT FOR $6 A DAY.
Now THAT'S value for money. Just hire them to knock each other off. No need to worry about casualties.
US debt is the result of US spending increasing dramatically in this decade, not just from taxcuts. And the economy didn't tank until after the bubble created and fueled by democrats (clinton, passing the legislation making 1st house sale tax free), republicans( capital gains tax cuts), and a libertarian (greenspan- avowed ayan rand follower- lowering interest rates and fueling borrowing in housing market) ran out of creditors for the banks. Ultimately, this is a gluttony crisis, with the US not being able to be content when we have one of the best living standards in the world.
The legislation Clinton signed was in '97 and how do you separate it from GOPer cap gains tax cuts when that was the biggest one they authored. Even as such, many of those taxes we recoup whenever the proceeds were spent.US debt exploded as a result of $300 billion per year deficit spending on tax cuts and wars.:2 cents:
One, I said "not just from taxcuts", they contributed, but the increase in social spending (the new medicare drug plan),the inability of republicans to carry out their budget promises to curb spending, and their embarking on massive increases in discretionary spending(the bridge to nowhere in alaska, for instance) across the board were the primary instruments in increasing the deficit.
Two, I attribute a seperate cause to the collapse of the economy- the housing market collapse. That is claimed by financial sources to have one of two major causes- one the fair housing act signed into law by carter requiring US banks to have a certain percentage of "at risk" borrowers to improve the lifestyles of american working poor and lower middle class or ,two, the clinton housing legislation. I remember when early this decade the financial gurus of wall steet and the fed were attributing this legislation as the saving grace of the american economy, keeping the 2001-2 recession from being worse and for dragging us out of it. Why? Because people were taking money out of their houses using it to borrow more money for larger houses. The subsequent decisions only exacerbated the borrowing, because banks saw more money coming and and decided to lend like crazy until they suddenly couldn't make their payments.That's why I consider this a gluttony crisis.
Two, I attribute a seperate cause to the collapse of the economy- the housing market collapse. That is claimed by financial sources to have one of two major causes- one the fair housing act signed into law by carter requiring US banks to have a certain percentage of "at risk" borrowers to improve the lifestyles of american working poor and lower middle class or ,two, the clinton housing legislation. I remember when early this decade the financial gurus of wall steet and the fed were attributing this legislation as the saving grace of the american economy, keeping the 2001-2 recession from being worse and for dragging us out of it. Why? Because people were taking money out of their houses using it to borrow more money for larger houses. The subsequent decisions only exacerbated the borrowing, because banks saw more money coming and and decided to lend like crazy until they suddenly couldn't make their payments.That's why I consider this a gluttony crisis.
"One", I never said just tax cuts as you assume in your original response. I'm sure we can itemized down the the cent but for the purposes of the macro discussion of the largest tolls on the recent debt...that would be Bush era deficit spending on war at the expense of taxing to pay for it AND on top of that, deficit financed tax "cuts".
Isn't that supposed to be an outrage to those who whine about, "mortgaging our children's future"???:dunno:
2001-02 recession? Well, we may have been in a technical recession but Bush inherited a 3 or 4 pct unemployment rate from Clinton.
meesterperfect
Hiliary 2020
hammerer has a new fan.
me.
everything you said is true.
me.
everything you said is true.
Good post.
meesterperfect
Hiliary 2020
i kinda wish hillary would turn republican or independent and run for prez in 2012.
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