GOP Economic Policies Under Heavy Fire

[Lakhota]

WASHINGTON — The boasts of Congressional Republicans about their cost-cutting victories are ringing hollow to some well-known economists, financial analysts and corporate leaders, including some Republicans, who are expressing increasing alarm over Washington’s new austerity and antitax orthodoxy.

MORE (by Jackie Calmes): G.O.P. on Defensive as Analysts Question Party’s Fiscal Policy

 

[Lakhota]

After Triggering Downgrade, Debt Default Skeptics Try To Run From Their Records -- But They Can't | TPMDC

 

[Oldstyle]

Good luck making the people who were calling for deficit reduction the scapegoats for the downgrade, Lakhota. When we get downgraded six months from now because we STILL haven't cut the deficit will it be their fault again?

The fact is...we got downgraded because the rating agency was looking for reductions to the deficit in the neighborhood of 4 trillion dollars but we gave them non specified cuts of less than half that. If you go and read the S&P explanation for the downgrade you will see that it questions our resolve to make even the small deficit cuts that WERE part of the debt ceiling increase.

 

[Lakhota]

Good luck making the people who were calling for deficit reduction the scapegoats for the downgrade, Lakhota. When we get downgraded six months from now because we STILL haven't cut the deficit will it be their fault again?

The fact is...we got downgraded because the rating agency was looking for reductions to the deficit in the neighborhood of 4 trillion dollars but we gave them non specified cuts of less than half that. If you go and read the S&P explanation for the downgrade you will see that it questions our resolve to make even the small deficit cuts that WERE part of the debt ceiling increase.

You're too funny! Apparently you haven't read the full S&P justification... Or, maybe you just cherry picked the parts you liked and ignored the rest...

 

[Patrick2]

WASHINGTON — The boasts of Congressional Republicans about their cost-cutting victories are ringing hollow to some well-known economists, financial analysts and corporate leaders, including some Republicans, who are expressing increasing alarm over Washington’s new austerity and antitax orthodoxy.

MORE (by Jackie Calmes): G.O.P. on Defensive as Analysts Question Party’s Fiscal Policy

One of the two economist critics mentioned in the New York Slimes article is Martin Feldstein.

Who is Martin Feldstein?

Wiki:

Feldstein was a board member of AIG, which announced the same year that it would restate five years of past financial reports by $2.7 billion. Subsequently, as a result of risky bets made by its Financial Products Division, AIG suffered a massive financial collapse that played a central role in the worldwide economic crisis of 2007–08 and the ensuing global recession.

Yaaaaaaaaaa - everyone should take lectures from this guy on economics.

 

[ScienceRocks]

Seriously, wtf is wrong with trying to balance our national budget.

 

[Mr_Rockhead]

Good luck making the people who were calling for deficit reduction the scapegoats for the downgrade, Lakhota. When we get downgraded six months from now because we STILL haven't cut the deficit will it be their fault again?...

And, about six months after that, we will see if the Big Spenders or the Spending Cutters get the job of fixing the mess.

 

[Lakhota]

Seriously, wtf is wrong with trying to balance our national budget.

Nothing, when the timing is right. But should one try trimming their toenails during a heart attack?

Right now government should be spending on infrastructure and JOBS.

 

[JoeB131]

Seriously, wtf is wrong with trying to balance our national budget.

Nothing, when the timing is right. But should one try trimming their toenails during a heart attack?

Right now government should be spending on infrastructure and JOBS.

No, we shouldn't.

Because usually those projects waste money.

Remember the 1 Trillion dollar stimulus. How many jobs did that produce?

What we need to do is rebuild our manufacturing infrastructure and get our trade policies under control. Then you can get the money to do the infrastructure stuff.

We are running huge deficits because the free traders allowed us to move all the good manufacturing jobs overseas, and we are bleeding a half trillion a year in trade to other countries.

From 1776-1976, the entire national debt was all of 600 Billion. That was it. That's what we ran up with two world wars and a few smaller ones, building the interstate highway system, the space program, the New Deal and the Great Society. We could afford all this stuff.

Because in that time period, we exported more than we imported, there was plenty of money to finance the government, and plenty of jobs to keep the tax payer to tax recipiant ratio sane.

Spending a crapload of money we don't have isn't the solution. Getting us back on track econmically is. And if that means creating jobs that aren't great initially, so be it.

 

[California Girl]

Under "heavy" fire? By whom? What moron thinks a balanced budget is a bad idea?

Oh, wait. Yea.... it's under fire from the left. I'd be more concerned if they agreed with it.

 

[AVG-JOE]

If we plan to continue on as a relatively free nation, the first priority needs to be taxes.

Congress has stepped beyond the constitution when they took upon themselves the power to tax you differently from me. There is no place for favoritism in the tax code of a democracy - favoritism breeds corruption.

Step 1. A simple and fair tax code.

Step 2. A budget that is balanced by law.

The rest will fall into place once congress returns the power stolen from the people when it stepped outside the constitution to play favorites with the tax code.

 

[Hoot]

Republicans have never shown any concern over balancing the budget...unless they're out of power.

In fact, the only party to balance the budget were the Dems and Bill Clinton way back in 1993.. the Omnibus Reconcilliation Act. Every single republican voted against this bill in the House...it passed anyway 217-216.

Obama offered a plan which had $4.7 trillion in cuts, including cuts to Medicare and Medicaid, but because it included modest revenue increases on the richest of the rich, repubs blocked passage.

The director of S&P made it clear this past Thursday who was to blame for the downgrade... the Tea Party and Republicans.

Isn't it funny how republicans only show fiscal responsibility when they're out of power?!

 

[BoycottTheday]

I agree, the republicans are just Democrats without the skirts

Go TeaParty, aMerica's only hope imho.

Glad to see ya'll coming around

 

[AVG-JOE]

Republicans have never shown any concern over balancing the budget...unless they're out of power.

In fact, the only party to balance the budget were the Dems and Bill Clinton way back in 1993.. the Omnibus Reconcilliation Act. Every single republican voted against this bill in the House...it passed anyway 217-216.

Obama offered a plan which had $4.7 trillion in cuts, including cuts to Medicare and Medicaid, but because it included modest revenue increases on the richest of the rich, repubs blocked passage.

The director of S&P made it clear this past Thursday who was to blame for the downgrade... the Tea Party and Republicans.

Isn't it funny how republicans only show fiscal responsibility when they're out of power?!

Same can be said for the DNC.

Simply more proof that every politician who has been creeping around D.C. in the same job for more than 12 years needs to be fired, regardless of party affiliation.

 

[The Rabbi]

WASHINGTON — The boasts of Congressional Republicans about their cost-cutting victories are ringing hollow to some well-known economists, financial analysts and corporate leaders, including some Republicans, who are expressing increasing alarm over Washington’s new austerity and antitax orthodoxy.

MORE (by Jackie Calmes): G.O.P. on Defensive as Analysts Question Party’s Fiscal Policy

You mean Democrats didnt agree to the deal?

 

[skookerasbil]

WASHINGTON — The boasts of Congressional Republicans about their cost-cutting victories are ringing hollow to some well-known economists, financial analysts and corporate leaders, including some Republicans, who are expressing increasing alarm over Washington’s new austerity and antitax orthodoxy.

MORE (by Jackie Calmes): G.O.P. on Defensive as Analysts Question Party’s Fiscal Policy

OK.....I nominate this thread as one of the most boneheaded of the year.

Nobody is blaming the GOP for the economy being so fcukked up except for the far left k00ks on the internet.


Meanwhile..................

According to Reuters, Consumer Confidence just hit a 35 year low...........or, in other words.........not since Jimmy Carter U.S. consumer sentiment grim but retail sales jump | Reuters

.......and maybe 4 economists see it getting better in the next 16 months.


Sheeeeet..........even young people are now realizing they fcukked up with this Hope and Change crap..............

 

[NYcarbineer]

All you need to know about the fundamental problem Republicans have is that they are trying to sell cutting government spending as a jobs program,

when in fact it is just the opposite.

 

[driveby]

WASHINGTON — The boasts of Congressional Republicans about their cost-cutting victories are ringing hollow to some well-known economists, financial analysts and corporate leaders, including some Republicans, who are expressing increasing alarm over Washington’s new austerity and antitax orthodoxy.

MORE (by Jackie Calmes): G.O.P. on Defensive as Analysts Question Party’s Fiscal Policy

Dems had a super majority for almost two years, junior...

 

[theHawk]

WASHINGTON — The boasts of Congressional Republicans about their cost-cutting victories are ringing hollow to some well-known economists, financial analysts and corporate leaders, including some Republicans, who are expressing increasing alarm over Washington’s new austerity and antitax orthodoxy.

MORE (by Jackie Calmes): G.O.P. on Defensive as Analysts Question Party’s Fiscal Policy

You're absolutely right. The solutions is with the democrats. Raise taxes and increase spending. That always works!

If only we could get Democrats in charge of the government again.

Oh wait.....

 

[NYcarbineer]

WASHINGTON — The boasts of Congressional Republicans about their cost-cutting victories are ringing hollow to some well-known economists, financial analysts and corporate leaders, including some Republicans, who are expressing increasing alarm over Washington’s new austerity and antitax orthodoxy.

MORE (by Jackie Calmes): G.O.P. on Defensive as Analysts Question Party’s Fiscal Policy

Dems had a super majority for almost two years, junior...

Prove it.