Back in 2000 in debt was going down; then we elected a Republican.

[Wry Catcher]

09/30/2010 13,561,623,030,891.79
09/30/2009 11,909,829,003,511.75
09/30/2008 10,024,724,896,912.49
09/30/2007 9,007,653,372,262.48
09/30/2006 8,506,973,899,215.23
09/30/2005 7,932,709,661,723.50
09/30/2004 7,379,052,696,330.32
09/30/2003 6,783,231,062,743.62
09/30/2002 6,228,235,965,597.16
09/30/2001 5,807,463,412,200.06
09/30/2000 5,674,178,209,886.86

?

The spending deficit went down under Clinton, the debt continued to grow.

 

[TakeAStepBack]

The housing bubble was being buil through the 90s. It was escalated after the dotcom bubble. The debt hasn't gone down in a budget year for decades. You can blame republicans, and then you should blame democrats. But you wont. You only want to believe republicans are guilty.

 

[TakeAStepBack]

09/30/2010 13,561,623,030,891.79
09/30/2009 11,909,829,003,511.75
09/30/2008 10,024,724,896,912.49
09/30/2007 9,007,653,372,262.48
09/30/2006 8,506,973,899,215.23
09/30/2005 7,932,709,661,723.50
09/30/2004 7,379,052,696,330.32
09/30/2003 6,783,231,062,743.62
09/30/2002 6,228,235,965,597.16
09/30/2001 5,807,463,412,200.06
09/30/2000 5,674,178,209,886.86

?

The spending deficit went down under Clinton, the debt continued to grow.

So you agree there never was a surplus. Excellent. That's a step in the right direction.

 

[Wry Catcher]

How much of the debt is held by American citizens? How much is held by foreign investors? What is the interest on the debt? If the debt and interest payments are so important, why not raise taxes on everyone a specific percent on their income tax due and apply that solely to debt reduction?

 

[TakeAStepBack]

How much of the debt is held by American citizens? How much is held by foreign investors? What is the interest on the debt? If the debt and interest payments are so important, why not raise taxes on everyone a specific percent on their income tax due and apply that solely to debt reduction?

You mean the percent that actually pays income tax?
The percent needed to reduce debt would be quite high for a nation already crippled economically.

Secondly, you'd have to trust the current sociopathic spenders to actually use that money to pay down debt. Do you see any initiatives to do such a thing? It's just wishful thinking. Nothing will change until the bottom drops out.

 

[Oddball]

The housing bubble was being buil through the 90s. It was escalated after the dotcom bubble. The debt hasn't gone down in a budget year for decades. You can blame republicans, and then you should blame democrats. But you wont. You only want to believe republicans are guilty.

They're also refusing to acknowledge the demographic time bomb that Ross Perot talked about numerous times in the '92 campaign, that was going to send the deficit through the roof again because of the impending explosion in entitlement spending.

Then there's Medicare D, that every one of them wanted...Well that is except if a guy with an (R) by his name got the credit for passing it.

Then we have the fact that not a one of them so much as batted an eye during Hastert's and Chimpola's spending binge, and indeed joined in on the spend-a-thon.

Nope...It's all the fault of BOOOOOOOOOSH!

 

[Wry Catcher]

The housing bubble was being buil through the 90s. It was escalated after the dotcom bubble. The debt hasn't gone down in a budget year for decades. You can blame republicans, and then you should blame democrats. But you wont. You only want to believe republicans are guilty.

Not true. Congress and the White House all contributed - it mattered little (until 2001) which party was in power.

The deficit went down under Clinton, the debt continued to grew and will until it is zero. Cutting spending will not reduce the debt, it will reduce the deficit; a balanced budget amendment will not reduce the debt, it might reduce deficit spending if and only if there are no floods, fires, earthquakes, tsunamis, hurricanes, tornadoes, wars, epidemics or other such problems in the budgeted year.

 

[TakeAStepBack]

The housing bubble was being buil through the 90s. It was escalated after the dotcom bubble. The debt hasn't gone down in a budget year for decades. You can blame republicans, and then you should blame democrats. But you wont. You only want to believe republicans are guilty.

Not true. Congress and the White House all contributed - it mattered little (until 2001) which party was in power.

The deficit went down under Clinton, the debt continued to grew and will until it is zero. Cutting spending will not reduce the debt, it will reduce the deficit; a balanced budget amendment will not reduce the debt, it might reduce deficit spending if and only if there are no floods, fires, earthquakes, tsunamis, hurricanes, tornadoes, wars, epidemics or other such problems in the budgeted year.

Thank, professor obvious?

Of course cutting spending could reduce the debt. It's about how much in spending cuts americans would tolerate. Under the current state of affairs, neither spending cuts, nor tax increaases scheduled to pay down deficit and in turn, debt, are in the works. It's wishful thinking that will never materialize.

Tax increases will also not reduce debt, the current projections for the 250K crowd increases is around 800 billion over 10 years. Or <100 billion a year. Not even 10% of deficit spending.

I'm not sure what the point of this exercise is....there are many ways to reduce debt and deficit. None of them are currently part of the plan of either party. It's business as usual in DC.

 

[Wry Catcher]

The housing bubble was being buil through the 90s. It was escalated after the dotcom bubble. The debt hasn't gone down in a budget year for decades. You can blame republicans, and then you should blame democrats. But you wont. You only want to believe republicans are guilty.

They're also refusing to acknowledge the demographic time bomb that Ross Perot talked about numerous times in the '92 campaign, that was going to send the deficit through the roof again because of the impending explosion in entitlement spending.

Then there's Medicare D, that every one of them wanted...Well that is except if a guy with an (R) by his name got the credit for passing it.

Then we have the fact that not a one of them so much as batted an eye during Hastert's and Chimpola's spending binge, and indeed joined in on the spend-a-thon.

Nope...It's all the fault of BOOOOOOOOOSH!

Yep. His watch, his responsibility.


The recession officially ended in June 2009, according to the Business Cycle Dating Committee of the National Bureau of Economic Research, the official arbiter of such dates.

As many economists had expected, this official end date makes the most recent downturn the longest since World War II. This recent recession, having begun in December 2007, lasted 18 months. Until now the longest postwar recessions were those of 1973-5 and 1981-2, which each lasted 16 months.

The newly-declared end-date to the recession also confirms what many had suspected: The 2007-9 recession was the deepest on record since the Great Depression, at least in terms of job losses.

Link:

The Recession Has (Officially) Ended - NYTimes.com

 

[Oddball]

He wasn't responsible for the explosion in entitlement spending that was already on autopilot, you party man lemming tool.

 

[TakeAStepBack]

We're still in recession. The economy wants to get better. However, the federal reserve and the federal government are doing everything in their power to make sure that the correction is artificial and a more severe downturn is inevitable. Which is also what is causing the sluggish return from by design wealth confiscation.

 

[Wry Catcher]

The housing bubble was being buil through the 90s. It was escalated after the dotcom bubble. The debt hasn't gone down in a budget year for decades. You can blame republicans, and then you should blame democrats. But you wont. You only want to believe republicans are guilty.

Not true. Congress and the White House all contributed - it mattered little (until 2001) which party was in power.

The deficit went down under Clinton, the debt continued to grew and will until it is zero. Cutting spending will not reduce the debt, it will reduce the deficit; a balanced budget amendment will not reduce the debt, it might reduce deficit spending if and only if there are no floods, fires, earthquakes, tsunamis, hurricanes, tornadoes, wars, epidemics or other such problems in the budgeted year.

Thank, professor obvious?

Of course cutting spending could reduce the debt. NO it cannot. The only way to cut the debt is to pay it down It's about how much in spending cuts americans would tolerate. Wrong, we could cut spending down to zero and it would not cut the debt. Under the current state of affairs, neither spending cuts, nor tax increaases scheduled to pay down deficit and in turn, debt, are in the works. It's wishful thinking that will never materialize.

Do you not understand the difference between deficit spending (that is incredasing the debt) and cutting down the debt? I'll make it simple for you. You spent too much using your credit cards. You owe more than you can pay, so, you cut up your cards. That does not make the debt go away.

Tax increases will also not reduce debt, the current projections for the 250K crowd increases is around 800 billion over 10 years. Or <100 billion a year. Not even 10% of deficit spending.

Tax increases if dedicated to debt reduction can reduce the debt.

I'm not sure what the point of this exercise is....there are many ways to reduce debt and deficit. None of them are currently part of the plan of either party. It's business as usual in DC.

There are only two ways to solve the debt crisis, pay it off or default. The former requires discipline, the latter requires insanity.

 

[TakeAStepBack]

By cutting spending, and i mean cutting it with s chainsaw and a jackhammer, you free up current revenues to pay down debt. it isn't that difficult.

Default is exactly what is going to happen. Then the govt. will put protectionist measures in place. Like massive taxation on commodity holders, shareholders, etc...in order to insulate itself. It will pass its poor fiscal adn monetary behaviors on to us. Once again.

Government is not going to dedicate any revenue to debt repayment. This argument can go in circles for weeks based on the IF this and IF that. It isn't happening. There is no plan for it to happen. It's just a fantasy.

 

[Oddball]

By cutting spending, and i mean cutting it with s chainsaw and a jackhammer, you free up current revenues to pay down debt. it isn't that difficult.

Default is exactly what is going to happen. Then the govt. will put protectionist measures in place. Like massive taxation on commodity holders, shareholders, etc...in order to insulate itself. It will pass its poor fiscal adn monetary behaviors on to us. Once again.

Government is not going to dedicate any revenue to debt repayment. This argument can go in circles for weeks based on the IF this and IF that. It isn't happening. There is no plan for it to happen. It's just a fantasy.

Oh, fuck no!

If there's ever a mythical "surplus" again, lolberal doucherags will just find a way to spend it to buy more votes.....And party man stooges like Danny Vermin will do nothing but cheer.

 

[GreatDay]

By cutting spending, and i mean cutting it with s chainsaw and a jackhammer, you free up current revenues to pay down debt. it isn't that difficult.

Default is exactly what is going to happen. Then the govt. will put protectionist measures in place. Like massive taxation on commodity holders, shareholders, etc...in order to insulate itself. It will pass its poor fiscal adn monetary behaviors on to us. Once again.

Government is not going to dedicate any revenue to debt repayment. This argument can go in circles for weeks based on the IF this and IF that. It isn't happening. There is no plan for it to happen. It's just a fantasy.

Oh, fuck no!

If there's ever a mythical "surplus" again, lolberal doucherags will just find a way to spend it to buy more votes.....And party man stooges like Danny Vermin will do nothing but cheer.

You must be one of the ones who believe there were weapons of mass destruction in Iraq, yes Virginia we really did balance the budget til the GOP and Bush decided "Washington was taking in too much money " and slashed taxes, but being a con reality is a foreign concept...I understand.

 

[GreatDay]

By cutting spending, and i mean cutting it with s chainsaw and a jackhammer, you free up current revenues to pay down debt. it isn't that difficult.

Default is exactly what is going to happen. Then the govt. will put protectionist measures in place. Like massive taxation on commodity holders, shareholders, etc...in order to insulate itself. It will pass its poor fiscal adn monetary behaviors on to us. Once again.

Government is not going to dedicate any revenue to debt repayment. This argument can go in circles for weeks based on the IF this and IF that. It isn't happening. There is no plan for it to happen. It's just a fantasy.

Of course we could do what Ike did and set the top rate at 90%, maybe then the bastards running this country wouldn't get us in a mess like this again, we would have their attention then.

 

[TakeAStepBack]

Are we changing surplus to balanced budget now?

 

[TakeAStepBack]

By cutting spending, and i mean cutting it with s chainsaw and a jackhammer, you free up current revenues to pay down debt. it isn't that difficult.

Default is exactly what is going to happen. Then the govt. will put protectionist measures in place. Like massive taxation on commodity holders, shareholders, etc...in order to insulate itself. It will pass its poor fiscal adn monetary behaviors on to us. Once again.

Government is not going to dedicate any revenue to debt repayment. This argument can go in circles for weeks based on the IF this and IF that. It isn't happening. There is no plan for it to happen. It's just a fantasy.

Of course we could do what Ike did and set the top rate at 90%, maybe then the bastards running this country wouldn't get us in a mess like this again, we would have their attention then.

Yes, that is a good way to promote capital flight. It's also more IF fantasyland. Yaya for fantasyland.

 

[Oddball]

No, the budget wasn't ever balanced in real life and the "surplus" never existed....It was all projected to come into balance by 2002, in 1998.....Just like Perot called it, back in 1992.

 

[GreatDay]

Are we changing surplus to balanced budget now?

so you admit to the surplus? progress indeed...