Will the GOP ever be fiscally conservative as the GOP was in the 1990s?

[CrusaderFrank]

Destroying the US dollar is & has been the only goal of Republicans. The US Dollar is Government bonds that's value is based on the full faith & credit of the US Government.

100% of Republican law makers signed Norquist no tax pledge to "shrink government and drown it in a bathtub". They never signed a pledge to shrink spending, they actually increase spending to explode debt to destroy government credit & US Dollar! Then they undermined our faith in the voting system & attacked the US Capitol to finish the job.

Republicans are the money printers, deficit inflation exploding & big spenders!

Democrats pay for spending with taxes & spending cuts that prevents deficits & inflation.

Republican president Nixon took the US Dollar off the Gold Standard because Republicans #1 Goal is to Print, Print, Print & Spend, Spend, Spend!!!

Treasury Secretary Paul O’Neill tried to warn Republican Vice President Dick Cheney that his plan to explode budget deficits posed a threat to the economy. Cheney cut him off. “You know, Paul, Reagan proved deficits don’t matter,”...“We won the midterms. This is our due.” A month later, Cheney told the Treasury secretary he was fired.

Note how under Trump, Gold soared over $2,065 & Biden has it falling to $1,615 as he restores faith in the US Dollar.

 

[Harpy Eagle]

Like I said, Trump is the most conservative president we've had since Calvin Coolidge.

List the "conservative" things Trump did as POTUS

 

[bripat9643]

1. So we all just do the standard deduction? Fine by me.

2. I'm retired, and I can tell you that people that have office jobs can work to 70, but they won't be as capable as they once were, people who have physical jobs cannot.
My recommendation is to raise the early 62 age to 64, and full retirement to 66.

3. Your "Fair tax" sounds like the VAT, "Value Added Tax", or as I call it, a Federal Sales Tax. I like the idea, as long as it eliminates or reduces the Income Tax.

Full retirement is already 67

 

[bripat9643]

List the "conservative" things Trump did as POTUS

Tax cut. Sealed the border. Destroyed ISIS. Increased the defense budget. Cut regulations.

 

[Harpy Eagle]

Tax cut. Sealed the border. Destroyed ISIS. Increased the defense budget. Cur regulations.

That explains much about you.

Tax cut without spending cuts is not fiscally conservative.

A million people a year coming across the border is not sealed.

Increasing spending is not a conservative trait.

He did cut regs, have to give you that one.

 

[bripat9643]

Because we're borrowing the money from the Fed, initially. That's what creates the debt and the interest on the debt.

No one has ever disputed that theory that borrowing creates debt.

The government has the constitutional authority to create money, without interest.

No it doesn't. It has the authority to "coin money." That isn't the authority to print it.

It's stupid to borrow something you can create yourself.

If I could print money, I sure as hell would. That doesn't make it a good thing for the government to do it.

And big whoop ti do, if we pay off the Federal Reserve with money the government created.

It is a big whoop-te-do. That's how the government makes money worthless.

All they can do is save of spend it.
They will not be able to have so much power over us and our government from the money we owe them.

They will destroy your savings and the economy, moron.

 

[KissMy]

Tax cut. Sealed the border. Destroyed ISIS. Increased the defense budget. Cut regulations.

Trump increased spending & cut taxes to explode deficits & future inflation.

Trump failed to build the border wall, yet spent 6 times more taxes on it than he campaigned he would need. He had the highest border invasions in 15 years.

Trump handed Syria & Iraq to Russia.

 

[Mac1958]

Basically, that is the real MOST IMPORTANT issue.

They brag about an economy that was driven by trillions in free Fed dollars (inflationary), mashed interest rates (inflationary) and massive government spending (inflationary), calling it the "best economy ever" simply because their saint SAID it was.

No, this warped version of the Republican party has nothing to do with fiscal conservatism. The rank & file will just parrot the line because they're told to. Otherwise, they are largely and blissfully ignorant about macroeconomics and markets.

Trump calls on Fed to cut rates by 1% and urges more quantitative easing

In a two-part tweet, the president says more easing would make the economy "go up like a rocket."

www.cnbc.com

 

[bripat9643]

Trump increased spending & cut taxes to explode deficits & future inflation.

Lie.

Trump failed to build the border wall, yet spent 6 times more taxes on it than he campaigned he would need. He had the highest border invasions in 15 years.

Lie.

Trump handed Syria & Iraq to Russia.

Lie.

 

[Toddsterpatriot]

Wrong!

Clinton slashed the deficit every year & created a surplus & was re-elected.

Obama slashed the deficit every year & was re-elected.

Yeah, they were a couple of real budget hawks. DURR.

 

[Toddsterpatriot]

They brag about an economy that was driven by trillions in free Fed dollars (inflationary), mashed interest rates (inflationary) and massive government spending (inflationary), calling it the "best economy ever" simply because their saint SAID it was.

No, this warped version of the Republican party has nothing to do with fiscal conservatism. The rank & file will just parrot the line because they're told to. Otherwise, they are largely and blissfully ignorant about macroeconomics and markets.

Trump calls on Fed to cut rates by 1% and urges more quantitative easing

In a two-part tweet, the president says more easing would make the economy "go up like a rocket."

www.cnbc.com

How much did the Fed shrink their balance sheet under Trump before COVID?

 

[Mac1958]

How much did the Fed shrink their balance sheet under Trump before COVID?

They had been expanding it to deal with the effects of Meltdown, and it had worked. We were in positive growth when Trump took over. It was common knowledge that QE could end up being inflationary. What we didn't know was that global supply chains would collapse later, sparking it all, or that the Fed would be very late in reacting.

Trump benefitted from its effects, and asked for more, even though he knew it was inflationary and the economy was growing again, something Keynes himself would be against. He also begged the Fed to further drop interest rates. Then he bragged about "his great economy", even though it was mostly thanks to the actions of the Fed.

But I know, Fox doesn't cover that.

 

[bripat9643]

Wrong!

Clinton slashed the deficit every year & created a surplus & was re-elected.

Obama slashed the deficit every year & was re-elected.

You mean the Republican Congress did that, and only because of the peace dividend that Reagan left them. The only cuts were in the defense budget.

 

[Toddsterpatriot]

They had been expanding it to deal with the effects of Meltdown, and it had worked. We were in positive growth when Trump took over. It was common knowledge that QE could end up being inflationary. What we didn't know was that global supply chains would collapse later, sparking it all, or that the Fed would be very late in reacting.

Trump benefitted from its effects, and asked for more, even though he knew it was inflationary and the economy was growing again, something Keynes himself would be against. He also begged the Fed to further drop interest rates. Then he bragged about "his great economy", even though it was mostly thanks to the actions of the Fed.

But I know, Fox doesn't cover that.

They had been expanding it to deal with the effects of Meltdown, and it had worked.

I know, but how much did the Fed shrink their balance sheet under Trump before COVID?

 

[YoursTruly]

No it doesn't. It has the authority to "coin money." That isn't the authority to print it.

LMAO.. You're down to playing word games..

I win. You lose.

 

[Mac1958]

They had been expanding it to deal with the effects of Meltdown, and it had worked.

I know, but how much did the Fed shrink their balance sheet under Trump before COVID?

Quite a bit, because they sold off the shit securities they bought previously. They may have actually turned a profit, but I haven't looked at the numbers that closely. That was easily done, considering how bad the market was during the Meltdown and immediately afterward. It's actually an interesting approach if used judiciously. I call it Capitalism 2.0. The jury is still out on the strategy.

So let's see: You're going to say that Trump, in all his economic brilliance, leveraged the Fed to help the economy, knowing that they'd soon sell off those securities, perhaps at a profit (even though there were no guarantees of that happening, and even though we were already growing, which is what made Keynes turn over in his grave).

That would be nice spin, but he also helped set the stage for the inflation we're now experiencing. As Keynes would have warned.

I didn't know you were such a big fan of the Fed!

 

[Toddsterpatriot]

Quite a bit, because they sold off the shit securities they bought previously. They may have actually turned a profit, but I haven't looked at the numbers that closely. That was easily done, considering how bad the market was during the Meltdown and immediately afterward. It's actually an interesting approach if used judiciously. I call it Capitalism 2.0. The jury is still out on the strategy.

So let's see: You're going to say that Trump, in all his economic brilliance, leveraged the Fed to help the economy, knowing that they'd soon sell off those securities, perhaps at a profit (even though there were no guarantees of that happening, and even though we were already growing, which is what made Keynes turn over in his grave).

That would be nice spin, but he also helped set the stage for the inflation we're now experiencing. As Keynes would have warned.

I didn't know you were such a big fan of the Fed!

Quite a bit, because they sold off the shit securities they bought previously.

You mean they sold off some US Treasuries and some guaranteed MBS.

You're going to say that Trump, in all his economic brilliance, leveraged the Fed to help the economy,

No, I'm going to say that before COVID, Trump didn't benefit from "trillions in free Fed dollars".

I didn't know you were such a big fan of the Fed!

Fan? Not really. Just correcting anti-Fed idiocy.

 

[bripat9643]

LMAO.. You're down to playing word games..

I win. You lose.

Nope. The Supreme court ruled paper money unconstitutional for many years because of that wording in the Constitution.

You always lose because you're full of shit.