Deficit shrinking faster than any time since WWII

[EdwardBaiamonte]

Tax cuts caused the housing bubble. Where do you get this shit from, man?

tax cuts??? To stupid and liberal!!!. Our great economists and newspapers agreed long ago it was liberal interference that caused the current depression by organizing much of the federal government to help people get into homes the Republican free market said they could not afford. Only a perfect idiot could say with a straight face that Fanny, Freddie, Federal Reserve, FHA, CRA , etc etc were not largely responsible. Are you a perfect idiot Rocko??


"First consider the once controversial view that the crisis was largely caused by the Fed's holding interest rates too low for too long after the 2001 recession. This view is now so widely held that the editorial pages of both the NY Times and the Wall Street Journal agree on its validity!"...John B. Taylor( arch conservative, author of the Taylor Rule)


" The Federal reserve having done so much to create the problems in which the economy is now mired, having mistakenly thought that even after the housing bubble burst the problems were contained, and having underestimated the severity of the crisis, now wants to make a contribution to preventing the economy from sinking into a Japanese Style malaise....... - "Joseph Stiglitz"

 

[Toronado3800]

Tax cuts caused the housing bubble. Where do you get this shit from, man?

tax cuts??? To stupid and liberal!!!. Our great economists and newspapers agreed long ago it was liberal interference that caused the current depression by organizing much of the federal government to help people get into homes the Republican free market said they could not afford. Only a perfect idiot could say with a straight face that Fanny, Freddie, Federal Reserve, FHA, CRA , etc etc were not largely responsible. Are you a perfect idiot Rocko??


"First consider the once controversial view that the crisis was largely caused by the Fed's holding interest rates too low for too long after the 2001 recession. This view is now so widely held that the editorial pages of both the NY Times and the Wall Street Journal agree on its validity!"...John B. Taylor( arch conservative, author of the Taylor Rule)


" The Federal reserve having done so much to create the problems in which the economy is now mired, having mistakenly thought that even after the housing bubble burst the problems were contained, and having underestimated the severity of the crisis, now wants to make a contribution to preventing the economy from sinking into a Japanese Style malaise....... - "Joseph Stiglitz"

I do partially agree! Too many folks were given loans they do not afford. A program meant to get poor folks into any house at all spread to $200k Mc Mansions.

And yes, that liberal Bank of America, US Bank, and Citi Group giving out too many loans because they were regulated too much?

Because they did not understand the economy?

Or because thanks to that Liberal Ronald Reagan setting the example by covering the S&L's each employee know right up to the CEO they would likely be bailed out if things went bad and at worst would just need a new job after enjoying record commissions?

Whatever you do Edward, when we agree keep your name calling self quiet so you don't make others disagree with us.

 

[EdwardBaiamonte]

I do partially agree! Too many folks were given loans they do not afford. A program meant to get poor folks into any house at all spread to $200k Mc Mansions.

too stupid there were many many programs

And yes, that liberal Bank of America, US Bank, and Citi Group giving out too many loans because they were regulated too much?

too stupid!!! because the Fed was printing too much money.

Because they did not understand the economy?

too stupid as usual. Of course they did not understand. If anyone had understood the economy including the Fed it would not have happened

Or because thanks to that Liberal Ronald Reagan setting the example by covering the S&L's each employee know right up to the CEO they would likely be bailed out if things went bad and at worst would just need a new job after enjoying record commissions?

too stupid!! numerous firms on Wall Street and beyond went bankrupt, shareholders lost 100% and now employment is way down as are earning, and many of the big firms are on the verge of bankruptcy. Are you brain dead??

 

[Toronado3800]

So pretty much we agree except you keep sounding like an angry drunk with a limited vocabulary.

Lets see, what did you disagree with...I mentioned the name I can't remember program from the end of the Clinton Administration and you yelled at me there were others also...

Then I said Banks went bankrupt partially because their employees had no capitalistic fear of starvation and you yelled "too stupid ! !" at me and said other companies went bankrupt also.

I'm not sure we actually disagreed about anything sir.

 

[EdwardBaiamonte]

So pretty much we agree except you keep sounding like an angry drunk with a limited vocabulary.

Lets see, what did you disagree with...I mentioned the name I can't remember program from the end of the Clinton Administration and you yelled at me there were others also...

Then I said Banks went bankrupt partially because their employees had no capitalistic fear of starvation and you yelled "too stupid ! !" at me and said other companies went bankrupt also.

I'm not sure we actually disagreed about anything sir.

what?????????????????

 

[Toddsterpatriot]

Continue Edward. You are costing Republicans votes by sounding so crazy.

liberal reduced to personal attack because he lacks the IQ for substance

Edward, most of the time I don't even know what you are saying libturd about.

This time you are saying the tax cuts for moving businesses overseas, which were created to fight the spread of socialism after the great wars, are a liberal idea you are against?

This time you are saying the tax cuts for moving businesses overseas

What tax cuts "for moving businesses overseas"?

You have any evidence?
Or is that just something you heard somewhere?

 

[Toddsterpatriot]

Edward, settle down buddy.

Most folks agree with you it is time to end the Marshall Planesque relocation deductions or whatever deductions companies moving off shore are enjoying. Liberalism though? Was it Romney getting his chops busted over this or the other guy?

Edward, honest, just like Al Gore can annoy ppl so bad they are against whatever he is speaking in favor of, you can drive folks towards supporting any opposing view.

I have said this before in other post so forgive me if I sound redundant...but I really can't see how political and economic savvy people of this nation continue to try and fix a broken system like our tax code. It has been a political football since 1913. Honestly...does anyone really believe that the best way to tax the public and do the least amount of economic harm is a progress individual income tax? Especially one with 70,000 + pages.

Even the Flat Tax is the same horse just without the exemptions. Businesses will continue to make business decisions based on their individual tax obligation. Though I agree it would be better...but really what can be worst then what we have now?

The base problem is that there is a lot of money in politics. So, those that want provisions in the tax code simply lobby for it. A half million here, a million there, and pretty soon you have a new bill approved, and a whole advertising campaign created to justify the new changes. Will always, always be the same until we find a way to take the money out of politics. Eliminating the provisions of the Citizens United decision of 3 years ago would be a good start. But more is needed.

The base problem is that there is a lot of money in politics.

That's because big government gives politicians control over lots of money.

Will always, always be the same until we find a way to take the money out of politics.

Will always, always be the same until we find a way to keep the money out of the control of the politicians.

 

[EdwardBaiamonte]

Will always, always be the same until we find a way to keep the money out of the control of the politicians.

If you have a Republican limited government there is nothing for them to buy with money so there is no money in politics.

The bigger the liberals make the government the more there is to buy and sell. So liberalism and corruption are synonymous.

 

[Trajan]

From fiscal 2009 to fiscal 2012, the deficit shrank 3.1 percentage points, from 10.1% to 7.0% of GDP.
That's just a bit faster than the 3.0 percentage point deficit improvement from 1995 to '98, but at that point, the economy had everything going for it.
Other occasions when the federal deficit contracted by much more than 1 percentage point a year have coincided with recession. Some examples include 1937, 1960 and 1969.

TARP and the bailouts of Fannie Mae and Freddie Mac also make the deficit improvement look better, boosting the fiscal '09 deficit by about $200 billion more than in fiscal '12 (though the initial cost of TARP was overstated).
Still, military spending is now on the decline due to fewer troops in Iraq and Afghanistan; Medicare costs rose 3% last year vs. the average 7% growth in recent years; and after the last year's Budget Control Act, excluding the automatic cuts set to take effect in January, nondefense discretionary spending is already on a path to shrink to 2.7% of GDP, well below the 3.9% average, notes the Center on Budget and Policy Priorities.

U.S. Deficit Shrinking At Fastest Pace Since WWII, Before Fiscal Cliff - Investors.com

Republicans were wrong about Romney, wrong about economics, wrong about health care, wrong about Iraq, wrong. Just "wrong". Notice the line at the far right. Every line above zero is the deficit shrinking. I wonder who was in office the years when the deficit was shrinking?

Better yet, after the health care bill goes into full effect, only 19 million won't be covered and a third of them are illegal immigrants. The CBO says we will see major savings after 20 years.

This information is coming from "Investor's Business Daily", not some extreme site. But you can bet, because this information isn't showing up on Fox, these USMB right wingers will call it all "lies". At least we all know they have no proof that says otherwise. Except what comes from the Heritage Foundation, a group that is always wrong. There goes that word again:

From fiscal 2009 to fiscal 2012, the deficit shrank 3.1 percentage points, from 10.1% to 7.0% of GDP.
That's just a bit faster than the 3.0 percentage point deficit improvement from 1995 to '98, but at that point, the economy had everything going for it.
Other occasions when the federal deficit contracted by much more than 1 percentage point a year have coincided with recession. Some examples include 1937, 1960 and 1969.

TARP and the bailouts of Fannie Mae and Freddie Mac also make the deficit improvement look better, boosting the fiscal '09 deficit by about $200 billion more than in fiscal '12 (though the initial cost of TARP was overstated).
Still, military spending is now on the decline due to fewer troops in Iraq and Afghanistan; Medicare costs rose 3% last year vs. the average 7% growth in recent years; and after the last year's Budget Control Act, excluding the automatic cuts set to take effect in January, nondefense discretionary spending is already on a path to shrink to 2.7% of GDP, well below the 3.9% average, notes the Center on Budget and Policy Priorities.

U.S. Deficit Shrinking At Fastest Pace Since WWII, Before Fiscal Cliff - Investors.com

Republicans were wrong about Romney, wrong about economics, wrong about health care, wrong about Iraq, wrong. Just "wrong". Notice the line at the far right. Every line above zero is the deficit shrinking. I wonder who was in office the years when the deficit was shrinking?

Better yet, after the health care bill goes into full effect, only 19 million won't be covered and a third of them are illegal immigrants. The CBO says we will see major savings after 20 years.

This information is coming from "Investor's Business Daily", not some extreme site. But you can bet, because this information isn't showing up on Fox, these USMB right wingers will call it all "lies". At least we all know they have no proof that says otherwise. Except what comes from the Heritage Foundation, a group that is always wrong. There goes that word again:

Great! That means the Bush Tax cuts are working and that we don't need to increase taxes on anyone!

Thanks dean!

Actually, it's the Bush tax cuts that caused the mess. Remember, they are years old. It's what Obama has done since Republicans tried to destroy the economy and turn over government to big business.

uh huh, and this has nothng to do wiht it?

November 11, 2012, 6:16 p.m. ET

The Hard Fiscal Facts
Individual tax payments are up 26% in the last two years.

The nearby table lays out the ugly details. The feds rolled up another $1.1 trillion deficit for the year that ended September 30, which was the biggest deficit since World War II, except for each of the previous three years. President Obama can now proudly claim the four largest deficits in modern history. As a share of GDP, the deficit fell to 7% last year, which was still above any single year of the Reagan Presidency, or any other year since Truman worked in the Oval Office.

more at-
Review & Outlook: The Hard Fiscal Facts - WSJ.com

its always been the spending. bush obama whomever.

 

[Toronado3800]

liberal reduced to personal attack because he lacks the IQ for substance

Edward, most of the time I don't even know what you are saying libturd about.

This time you are saying the tax cuts for moving businesses overseas, which were created to fight the spread of socialism after the great wars, are a liberal idea you are against?

This time you are saying the tax cuts for moving businesses overseas

What tax cuts "for moving businesses overseas"?

You have any evidence?
Or is that just something you heard somewhere?

I understand you can deduct your moving expenses, which can be quite substantial.

I HAVE NEVER filed as a business so even though I do my own taxes I do not know what "line of a 1040" it is.

 

[EdwardBaiamonte]

What tax cuts "for moving businesses overseas"?

You have any evidence?
Or is that just something you heard somewhere
I understand you can deduct your moving expenses, which can be quite substantial.

I HAVE NEVER filed as a business so even though I do my own taxes I do not know what "line of a 1040" it is.

there are too many to list. The most obvious is our non territorial tax system wherein you pay the corporate tax in a foreign country and then pay the US tax if you bring the money back home. What planet have you been on?? Typical slow liberal?

 

[Toddsterpatriot]

Edward, most of the time I don't even know what you are saying libturd about.

This time you are saying the tax cuts for moving businesses overseas, which were created to fight the spread of socialism after the great wars, are a liberal idea you are against?

This time you are saying the tax cuts for moving businesses overseas

What tax cuts "for moving businesses overseas"?

You have any evidence?
Or is that just something you heard somewhere?

I understand you can deduct your moving expenses, which can be quite substantial.

I HAVE NEVER filed as a business so even though I do my own taxes I do not know what "line of a 1040" it is.

I understand you can deduct your moving expenses, which can be quite substantial.

So if I move my business 2 miles up the road I can deduct the moving expenses.

Doesn't have the same ring to it as saying you get a tax cut "for moving businesses overseas", does it?

I guess we should make moving expenses non-deductible, then liberals would have to come up with another lying point.

 

[Toronado3800]

This time you are saying the tax cuts for moving businesses overseas

What tax cuts "for moving businesses overseas"?

You have any evidence?
Or is that just something you heard somewhere?

I understand you can deduct your moving expenses, which can be quite substantial.

I HAVE NEVER filed as a business so even though I do my own taxes I do not know what "line of a 1040" it is.

I understand you can deduct your moving expenses, which can be quite substantial.

So if I move my business 2 miles up the road I can deduct the moving expenses.

Doesn't have the same ring to it as saying you get a tax cut "for moving businesses overseas", does it?

I guess we should make moving expenses non-deductible, then liberals would have to come up with another lying point.

Nah, but it would be nice to eliminate any moving expenses to a foreign country. Can we compromise on that?

 

[Toddsterpatriot]

I understand you can deduct your moving expenses, which can be quite substantial.

I HAVE NEVER filed as a business so even though I do my own taxes I do not know what "line of a 1040" it is.

I understand you can deduct your moving expenses, which can be quite substantial.

So if I move my business 2 miles up the road I can deduct the moving expenses.

Doesn't have the same ring to it as saying you get a tax cut "for moving businesses overseas", does it?

I guess we should make moving expenses non-deductible, then liberals would have to come up with another lying point.

Nah, but it would be nice to eliminate any moving expenses to a foreign country. Can we compromise on that?

Why compromise?
I live in Illinois. We should make it impossible for any business to move out of our tax increasing state. It makes the greedy politicians very angry when the serfs move.

 

[Toronado3800]

Sure thing then. Subsidize the move to business friendly Authoritarian Capitalist China.

Usually I feel rather sorry for Illinois. St Louis has been crapping on the metro east municipalities for years.

 

[Toddsterpatriot]

Sure thing then. Subsidize the move to business friendly Authoritarian Capitalist China.

Usually I feel rather sorry for Illinois. St Louis has been crapping on the metro east municipalities for years.

Allowing usual write-offs does not subsidize the move to anywhere.

 

[Rshermr]

liberal reduced to personal attack because he lacks the IQ for substance

Edward, most of the time I don't even know what you are saying libturd about.

This time you are saying the tax cuts for moving businesses overseas, which were created to fight the spread of socialism after the great wars, are a liberal idea you are against?

This time you are saying the tax cuts for moving businesses overseas

What tax cuts "for moving businesses overseas"?

You have any evidence?
Or is that just something you heard somewhere?

First off, there is a tax deduction. Not a tax cut. Though, from a cost standpoint, it accomplishes the same thing. That is, it cuts the amount spent on taxes.
Second, it is not a specific deduction for moving jobs offshore. It is standard business expense deductions. Simply an issue when you think that a company can cut employment, move production overseas, and write off the costs.
Bothers me. Maybe not you.

 

[ba1614]

Holy fuck it's no wonder obummer won again if people are truly this stupid.

 

[Koios]

Holy fuck it's no wonder obummer won again if people are truly this stupid.

No kidding. Can you imagine we Libtards not grasping the truths of the Romney campaign, due to our abject retardation:

"I don't have to worry about 47% of the American People." But of course, as Romney followed up with later, when he knew cameras were on him, he's always concerned himself with 100% of the American People. It's obvious that's true. How in the fuck is it possible that we Libtards cannot grasp the obvious truth that really he cares about all the People.

He would have eliminated enough tax shelters to get us to surplus. It's obvious he would have, and only a fucking Libtard would query, "Really Governor; mind mentioning what some of those might be, since wait and see is kinda nebulous?" Mygod, how dumb can Libtards be.

Of course "Let Detroit go bankrupt." meant that government would help save the industry and jobs. We fucking Libtards have no grasp of Bankruptcy 101. It's pure "strawman" even if that's not how classical strawman arguments work. But still, just dumbfuck Libtard strawman horseshit.

Good thinking, ba1614. Pure fucking genius.

 

[ba1614]

Holy fuck it's no wonder obummer won again if people are truly this stupid.

No kidding. Can you imagine we Libtards not grasping the truths of the Romney campaign, due to our abject retardation:

"I don't have to worry about 47% of the American People." But of course, as Romney followed up with later, when he knew cameras were on him, he's always concerned himself with 100% of the American People. It's obvious that's true. How in the fuck is it possible that we Libtards cannot grasp the obvious truth that really he cares about all the People.

He would have eliminated enough tax shelters to get us to surplus. It's obvious he would have, and only a fucking Libtard would query, "Really Governor; mind mentioning what some of those might be, since wait and see is kinda nebulous?" Mygod, how dumb can Libtards be.

Of course "Let Detroit go bankrupt." meant that government would help save the industry and jobs. We fucking Libtards have no grasp of Bankruptcy 101. It's pure "strawman" even if that's not how classical strawman arguments work. But still, just dumbfuck Libtard strawman horseshit.

Good thinking, ba1614. Pure fucking genius.

Nothing original there, that's all you nuts have been spouting for 3months now, you got all the talking points down pat anyway, good for you.

Thanks for making my point.