Why GOP candidates would make the national debt worse

Discussion in 'Economy' started by rdean, Feb 24, 2012.

  1. rdean
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    rdean rddean

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    Why GOP candidates would make the national debt worse - CSMonitor.com

    With Romney, the debt would change little from the CRFB baseline but only if he finds tax hikes to offset those 20 percent rate cuts. He has not said what those revenue increases would be, and without them, he’d add about $2.6 trillion to the debt and drive it to about 96 percent of GDP. Santorum would increase the debt by $4.5 trillion to 104 percent of GDP. Gingrich would add $7 trillion to the debt and drive it to 114 percent of GDP.

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    Now this is coming from the Right Wing Christian Science Monitor. The same news source that pointed out that Republicans blackmailed Obama into extending the Bush Tax cuts or they were going to cut off unemployment for millions of Americans whose jobs were victimized by Republican policies.
     
  2. Quantum Windbag
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    Quantum Windbag Gold Member

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    Where does Obama expect to get the $1.5 trillion in tax hikes to make his budget not become a major disaster?
     
  3. rdean
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    rdean rddean

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    Obama isn't running as a Republican. What do you think of their tax plans?
     
  4. Swagga
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    Swagga Sane Libertarian

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    Sure say nothing about ron paul cutting a trillion.
     
  5. Quantum Windbag
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    Quantum Windbag Gold Member

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    I haven't studied there tax plans because they are campaign promises, not solid proposals. Remembers Obama;s tax plan to cut the deficit in half by now? I dismissed it as vaporware when he was a candidate, but he made it official when he repeated the promise after he became president. Why aren't you complaining about the fact that he keep increasing the deficit instead of cutting it? Are you aware that, if all of Obama's projections are accurate, and he gets that %1.5 trillion in new taxes this year, the deficit will only decrease by 30% over what he ran his first year, which was actually an increase over Bush's last deficit. If one of the Republican candidates gets elected I will be happy to actually take the hours it actually takes to analyze his proposal and list all of the things that are wrong with it, until then I deal with reality.
     
  6. Middleoftheroad
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    Middleoftheroad Active Member

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    Your numbers aren't making sense. His first year the deficit was 1.5T. Last year it was 1.3T. This year it is projected at 1.1T and has actually been beating that so far. If in some crazy world he actually got 1.5T in tax increases he would be running a surplus.
    Did you mean 1.5T over ten years? Because that would equate to close to a 30% cut (actually closer to 40%). In reality, at the pace we are running the deficit is already 30% lower then it was after his first year in office.
     
  7. Quantum Windbag
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    Quantum Windbag Gold Member

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    His budget for 2013 is what I am talking about. That projects a $1.5 trillion tax increase over 10 years.
     
    Last edited: Feb 25, 2012
  8. Middleoftheroad
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    Middleoftheroad Active Member

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    k gotcha. I admit I haven't been following his proposed next year budget too close (or almost at all)
     
  9. beagle9
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    beagle9 Gold Member

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    Whats it going to be America?
     
    Last edited: Feb 25, 2012
  10. techieny
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    techieny Conservative Supporting Member

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    I see nothing but spin in that article. The bottom line is this. Entitlements are killing us. Folks are NOT taking jobs they rather get the payout. Give me some meat here and I may agree!
     

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