bripat9643
Diamond Member
- Apr 1, 2011
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The majority of new money is created by the banks not the printing pressRE: "If you were in debt in your household, do you think you could spend your way out of it? It just doesn't make any sense. It's illogical"No you wouldn't have. Bush crashed the economy with his tax cuts and his wars, and the housing bubble. In order to balance the budget, you would have had to pull out of both wars, fully, stop spending on the military, and bring the troops home, and to what? An economy shedding 500,000 jobs a month?
In order to balance the budget, you would have to increase revenues, and/or cut spending. You spend during a recession, and cut during periods of growth. To increase taxes is unwise, as it tends to deepen a recession, as does cutting spending.
As an example, in the run up to the Canadian election last year, the Conservative government wanted to run on a balanced budget. Spending cuts would have balanced the budget by 2017, but the Conservative government was desperate to tell Canadians they had balanced the budget, so they made some very deep cuts to spending to achieve that goal. It put the country into a mild recession, and still failed to balance the budget because of reduced revenues caused by falling oil prices.
One has to wonder if Obama has been allowed to spend more to stimulate the economy, whether the recovery would have been quicker.
No, because none of DumBama's policies did anything for our economy. That's why our economy still sucks.
If you were in debt in your household, do you think you could spend your way out of it? It just doesn't make any sense. It's illogical.
DumBama is the most anti-business President of our lifetime. Had he just sat in the White House and did nothing the last seven years, our market forces would have driven our economy along the way and we'd be in much better shape today. But no. He burdened our businesses with more taxes. He inflicted his idiotic healthcare plan that not only stopped businesses from expanding, but prevented new businesses from starting. The people that lost their healthcare plans now have to pay for them with after-tax money. In many cases, that's a very expensive SUV or a small house payment. This is money that doesn't go into circulation in our society. The less money movement, the less economic activity. And to add insult to injury, we still have millions of people without healthcare and it's more expensive than before DumBama became President.
The only real bump we had in our economy was the results of fracking which DumBama and the Democrats are totally against. Lower fuel prices gives us more disposable income which has a stimulating effect. But people have to beware because at anytime, DumBama could send his henchmen in from the EPA to create regulations to burden that industry as well just like he did with our coal mining operations.
Come on Ray, you know better. The economics of our national debt is completely different than a household debt. Don't spread those lies.
The only difference is that the Federal government can print money. When the fed does that, it screws all of us.
The Fed controls how much money private banks can create.