Boehner and the GOP "Debt Plan"

[DontBeStupid]

Capping the excessive federal burden on the productive sector of the economy at 18%, while an extremely timid step, would be a good start.

3 pages in and you finally put forth an opinion on the topic of the thread. Well done.

Now, perhaps you would care to explain how a 7-8% drop in GDP would be a "good start". And also, a "good start" toward what end?

You apparently don't know the difference between the debt and the deficit and now you don't know the difference between capping SPENDING to 18% of the GDP and the GDP.

Of course STUPID is your last name.

Capping spending will force the Government to spend less which will lower GDP. This is fact.

And, for the record, my last name isn't Stupid. Would be funny if it was though.

 

[Oddball]

Capping the excessive federal burden on the productive sector of the economy at 18%, while an extremely timid step, would be a good start.

3 pages in and you finally put forth an opinion on the topic of the thread. Well done.

Now, perhaps you would care to explain how a 7-8% drop in GDP would be a "good start". And also, a "good start" toward what end?

Less money being expropriated from the GDP is not a drop in that GDP.


So yes...Less of the GDP being looted from the productive, in order to feather the nests of the unproductive, would be damned good start, Mr. Stupid.

 

[DontBeStupid]

Less money being expropriated from the GDP is not a drop in that GDP.

So yes...Less of the GDP being looted from the productive, in order to feather the nests of the unproductive, would be damned good start, Mr. Stupid.

You clearly do not grasp this concept at all.

$1.2T is roughly the amount of the drop in GDP the Republicans want. That is less than we currently borrow, but pretty close. So, basically, no more borrowing from China and Canada and the economy shrinks by 7-8%.

Now, if we are borrowing that $1.2T, that means we are NOT taking it in the form of taxes from the population. So, when we stop borrowing the $1.2T, what happens to tax rates? Nothing. They don't change. Which means, you and I don't suddenly get more money in our pockets. Neither do businesses. In fact, many businesses with government contracts would LOSE those contracts and have to lay off workers.

See now how this is bad?

 

[Liability]

heh heh A for effort. But seriously, you could just say you don't understand the GOP plan. I could explain it to you.

That they even have a plan, screed up as it may be, leaves them one up on Boiking and his do-nothing dummycrat chorus line.

Except, no.

As I have stated, paying down the debt is NOT a priority right now and should not be one either. Growing the economy should be the priority and the GOP plan won't do that. It will actually SHRINK the economy by at least 8%!

Not doing anything would be a better plan!

Except, no. As has been explained to you repeatedly, you are flatly wrong.

Addressing our damn addiction to spending (primarily on the basis of debt at that) is absolutely a priority right now.

Nothing is more important, right now, to the survival of the American Republic than immediately grappling with this damnably vexing problem, getting a handle on it, beating it down and correcting it.

And the only way we will ever be able again to "grow" the economy is if we stop this economic foolishness which you mindlessly endorse.

 

[Oddball]

Less money being expropriated from the GDP is not a drop in that GDP.

So yes...Less of the GDP being looted from the productive, in order to feather the nests of the unproductive, would be damned good start, Mr. Stupid.

You clearly do not grasp this concept at all.

$1.2T is roughly the amount of the drop in GDP the Republicans want. That is less than we currently borrow, but pretty close. So, basically, no more borrowing from China and Canada and the economy shrinks by 7-8%.

Now, if we are borrowing that $1.2T, that means we are NOT taking it in the form of taxes from the population. So, when we stop borrowing the $1.2T, what happens to tax rates? Nothing. They don't change. Which means, you and I don't suddenly get more money in our pockets. Neither do businesses. In fact, many businesses with government contracts would LOSE those contracts and have to lay off workers.

See now how this is bad?

I have a total grasp of the concept.

In order for the feds to claim that they "produce" X% of GDP, X% largely represents how much of private production they -by hook or by crook- need to expropriate, misallocate and generally piss away, in order to claim that percentage.

Like I asked you earlier...Where do you think the funding comes from, Lucky the goddamn Leprechaun?

Good God, do you have an apropos last name, Mr. Stupid.

 

[Claudette]

You know it won't but they do have a plan.

Anyone seen the Dems plan?? Oh wait. I forgot. They ain't got one.

Carry on.

Already addressed. Having no plan is actually better than a plan that shrinks the economy.

Just what do you think raising taxes on anyone making 250,000 and over will do to the economy???

Loads of those people own businesses. Provide jobs and pay taxes.

 

[DontBeStupid]

Like I asked you earlier...Where do you think the funding comes from, Lucky the goddamn Leprechaun?

And like I answered earlier, we borrow it. From foreign countries.

 

[Oddball]

Where the hell do you think they got the USDs to borrow in the first place, for the love of Mike?!?!?

 

[DontBeStupid]

Except, no. As has been explained to you repeatedly, you are flatly wrong.

Addressing our damn addiction to spending (primarily on the basis of debt at that) is absolutely a priority right now.

Nothing is more important, right now, to the survival of the American Republic than immediately grappling with this damnably vexing problem, getting a handle on it, beating it down and correcting it.

And the only way we will ever be able again to "grow" the economy is if we stop this economic foolishness which you mindlessly endorse.

Government spending is a part of GDP. This is fact.
Lowering Government spending WILL lower GDP. This is fact.

What part of that do I have flatly wrong?

Also, and I am amazed we don't all agree on this, but the most important thing right now is to get jobs growing again and get people working. When the Government lays off hundreds of thousands of people, how does that help our situation?

 

[SFC Ollie]

heh heh A for effort. But seriously, you could just say you don't understand the GOP plan. I could explain it to you.

That they even have a plan, screed up as it may be, leaves them one up on Boiking and his do-nothing dummycrat chorus line.

Except, no.

As I have stated, paying down the debt is NOT a priority right now and should not be one either. Growing the economy should be the priority and the GOP plan won't do that. It will actually SHRINK the economy by at least 8%!

Not doing anything would be a better plan!

When should paying down the debt become a priority? Should we wait until we can't borrow any more? I wonder how close we are getting to that point already? We already owe more than we have. And by that I mean that if we took all the money from all the millionaires we still couldn't pay off our debt.

 

[Oddball]

Government spending is a part of GDP. This is fact.
Lowering Government spending WILL lower GDP. This is fact.

That federal spending is "a part of GDP" is an accounting gimmick, so they can claim their burden on the productive to be somehow beneficial to the overall whole.

Fact remains that they produce nothing and have to loot the productive sector of the economy in order to fund their "contribution" to GDP.

 

[Procrustes Stretched]

Boehner: Obama has no debt plan. Republicans do - Political Hotsheet - CBS News

The House next week will take a vote to raise the debt ceiling and pass a balanced budget amendment, House Republican leaders said today.

The plan is unlikely to go anywhere, since a balanced budget amendment would likely fail in the Democrat-led Senate, but GOP leaders nevertheless called it a serious plan to raise the debt ceiling.

The "cut, cap and balance" proposal would make raising the debt ceiling contingent on Congress sending a balanced budget amendment to the states. It would also cap government spending at 18 percent of Gross Domestic Product over the next 10 years.

"I don't want to preclude any chance of coming to an agreement, but [Democrats have] been unwilling to put a real plan on the table," Boehner said. "Without serious spending cuts or real reform to entitlement programs, this problem is not going to be solved."

Couple things.

1) We don't need a plan to pay down the debt right now. What we need is a plan to grow the economy, and the GOP plan won't do that. Why?

2) 18% of our GDP is $2.6T which would mean that $1.2T would need to be cut from the government, which would of course lower our GDP and require additional cuts. Basically though, all discretionary spending (military included) would need to end under the GOP "plan".

3) Why is Boehner whining over Obama's leadership, when Boehner is Speaker of the House, the actual group of people who vote on this whole damn thing in the first place.

 

[Oddball]

^^^^
Like we needed further proof of how stupid Mr. Stupid is.

 

[Procrustes Stretched]

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[DontBeStupid]

When should paying down the debt become a priority? Should we wait until we can't borrow any more? I wonder how close we are getting to that point already? We already owe more than we have. And by that I mean that if we took all the money from all the millionaires we still couldn't pay off our debt.

Personally, I think unemployment between 4-6% is normal, so I would say when we get into that range, then we can start working down the deficits and balancing things up.

And you're right. We can't possibly due this all from taxing millionaires. We can do it by taxing profits of businesses though, and we should.

 

[DontBeStupid]

Government spending is a part of GDP. This is fact.
Lowering Government spending WILL lower GDP. This is fact.

That federal spending is "a part of GDP" is an accounting gimmick

And we're done here!

Drop me a line when you learn how the economy works.

 

[Oddball]

Government spending is a part of GDP. This is fact.
Lowering Government spending WILL lower GDP. This is fact.

That federal spending is "a part of GDP" is an accounting gimmick

And we're down here!

Drop me a line when you learn how the economy works.

It doesn't work by alchemy, Mr. Stupid.

 

[DontBeStupid]

It doesn't work by alchemy

Correct. It works by basic addition and subtraction.

Which must be the part that's confusing you.

 

[Procrustes Stretched]

It doesn't work by alchemy

Correct. It works by basic addition and subtraction.

Which must be the part that's confusing you.

Don't you know the Oddball Dude plays an economist on the internet?

 

[ClosedCaption]

My bad I thought this thread said "Boehner and the GOP Job Creation plan"

Anyone seen that plan?