Milton Friedman weighs in on the budget crisis.

Discussion in 'Politics' started by The Rabbi, Apr 15, 2011.

  1. The Rabbi
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    The Rabbi Diamond Member

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  2. The Rabbi
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    The Rabbi Diamond Member

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    You'd think someone would watch this vid.
     
  3. Truthseeker420
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    Truthseeker420 Gold Member

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    Typical neocon bullshit. We have to cut spending but it okay to spend more on military. And you have to lol at his logic on why it is ok to spend more on the military-"it(miliitary spending) was 8 or 9 percent of GDP in the past" lmfao
     
    Last edited: Apr 15, 2011
  4. EriktheRed
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    EriktheRed Eh...

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    We also had a little something called The Cold War going on then. We obviously still have threats, but so much that we couldn't trim some from the Pentagon.
     
  5. Truthseeker420
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    Truthseeker420 Gold Member

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    Although I diisagree that would be a reasonable aurgument for increasing military spending but that is not the aurgument he made.
     
  6. Mr Liberty
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    Mr Liberty Hater of Socialism

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  7. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    Friedman was one of the last great classical liberals which is not to be confused with modern American liberalism that we see in socioeconomic and political circles these days.

    He would say now what he said then. The more you raise taxes, the more Congress will spend. They will continue to call reductions in the rate of growth 'budget cuts' while seeing any increase in revenue as license to obligate the people for more and more whether the treasury is empty or not.

    It's like increasing our taxes by $10 which they use as justification for obligating us for $20 more in spending while pointing out that without the tax increase, the deficit would be $30 instead of $20. It's absolutely nuts and unjustifiable by any definition of fiscal responsibility.

    And Friedman was explicit that waste in the defense department should be addressed and eliminated, but he was also correct that the defense budget in the Reagan years was a little more than half as much of the GDP as it had previously been. And as defense is a Constitutional obligation of government, we can afford to maintain a strong military as a deterrant to aggression. What is not a Constitutional obligation of the federal government, however, should be fair game to reduce or eliminate.
     
  8. NYcarbineer
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    NYcarbineer Diamond Member

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    There is no Constitutional obligation for any set amount that has to be spent on defense.

    Cut the bullshit.
     
  9. NYcarbineer
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    NYcarbineer Diamond Member

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    So, what would the Reagan deficits be in today's dollars??
     
  10. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    I don't believe I suggested any set amount that has to be spent on defense. Are you suggesting that the federal government has no obligation to provide for the common defense? Are you suggesting that we don't need a strong military? What bullshit? What's your point?
     

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