Now, liberals can explain how to expand the national debt to their constituencies!!!!
DEBT LIMIT - A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. - YouTube
DEBT LIMIT - A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. - YouTube
A guide to liberal loan debauchery!
- Thread starter lonesomebob
- Start date
Terry Oxandale
Skinny Man
Very entertaining. You had a very nice opportunitiy to avoid the labeling in this string's title, but once again, you chose not to. Regardless, I thoroughly enjoyed the video.
So, if you ruled the world, Terry, no one would be allowed to put their views on a link?
Conservatives have been getting this kind of editorializing for a very long time now. It is so common that most are numb to it.
But, when the are the recipient, all of a sudden, new rules need to be made.
LOL, I assume the bank can just be bypassed for that step. Maybe we'll get a "part II" where we get a tutorial on paper selection, software and best printers for the job, and how to buy them with food stamps!
Ian Anderson
Lifetime Supporter
Excellent video
The only correct thing to do is balance the budget at least and should pay off all borrowings before going for a balanced budget
Ian
The only correct thing to do is balance the budget at least and should pay off all borrowings before going for a balanced budget
Ian
How would you know? Anyone would think you were a flippin' Accountant or something.....:laugh:
Ian Anderson
Lifetime Supporter
Come on Jim
I am surprised you did not comment
Perhaps Jeff too could comment
But perhaps when it is put as succinctly as the film has done you realise the errors of the current US Government's ways.
Ian
I am surprised you did not comment
Perhaps Jeff too could comment
But perhaps when it is put as succinctly as the film has done you realise the errors of the current US Government's ways.
Ian
Jeff Young
GT40s Supporter
Our total debt (public and private) to GDP ratio is less in the US than the UK....
UK credit binge pushes debt above 500% of GDP | Business | The Guardian
But, putting that aside, while a cute folksy vid, it misses many macroeconomic necessities that don't apply to households.
Government spending and debt is a critical part of the economy. When the economy slows, and we are in a demand/liquidity trap, government spending is necessary to get the economy moving again.
Here in the US, we have accumulated a lot of debt over the last 12 years -- far too much I agree. For 8 years, I would say it was "bad" debt -- debt run up fighting wars while at the same time cutting taxes.
Over the last 4, it's still troublesome, but the debt was incurred as an attempt to stave off a depression, to save our banks and auto industry and to reform our health care system. Necessary debt.
Ihe US government had simply gone "full austerre" in the fall of 2008, it's likely the US and the world would have seen a real depression rather than the Great Recession we all suffered through.
So sure, we need to get the debt/deficit moving back in the right direction (down) but that little video doesn't really say much about how to do that, or the necessary role government spending has in the economy does it?
And more importantly for the "civility crowd," Bob's title for his post is one sided and offensive. Both sides in the US wracked up the debt about which he posts, but of course he's as always blind to the facts and ignores that and uses an incidendary post title to try to get a rise out of people rather than have an actual discussion about the issue.
UK credit binge pushes debt above 500% of GDP | Business | The Guardian
But, putting that aside, while a cute folksy vid, it misses many macroeconomic necessities that don't apply to households.
Government spending and debt is a critical part of the economy. When the economy slows, and we are in a demand/liquidity trap, government spending is necessary to get the economy moving again.
Here in the US, we have accumulated a lot of debt over the last 12 years -- far too much I agree. For 8 years, I would say it was "bad" debt -- debt run up fighting wars while at the same time cutting taxes.
Over the last 4, it's still troublesome, but the debt was incurred as an attempt to stave off a depression, to save our banks and auto industry and to reform our health care system. Necessary debt.
Ihe US government had simply gone "full austerre" in the fall of 2008, it's likely the US and the world would have seen a real depression rather than the Great Recession we all suffered through.
So sure, we need to get the debt/deficit moving back in the right direction (down) but that little video doesn't really say much about how to do that, or the necessary role government spending has in the economy does it?
And more importantly for the "civility crowd," Bob's title for his post is one sided and offensive. Both sides in the US wracked up the debt about which he posts, but of course he's as always blind to the facts and ignores that and uses an incidendary post title to try to get a rise out of people rather than have an actual discussion about the issue.
The national debt at the end of the Clinton presidency was $5.73 trillion. The national debt at the end of the Bush presidency was $10.62 trillion, a gain of $4.89 trillion. The last two years of the Bush presidency were under a democrat controlled congress and senate. The national debt today is $15.5 trillion. In 3 years and 2 1/2 months Obama has run the debt up $4.88 trillion, $.01 trillion less than Bush in 8 years.
The UK national debt to GDP ratio is now over 80%. The US national debt is $15.5 trillion, the GDP is $15.1 trillion. The US national debt to GDP ratio is now 102%, or 22% higher that the UK.
United Kingdom Government Debt To GDP
United Kingdom Government Debt To GDP
Jeff Young
GT40s Supporter
You need to work on reading skills.
My post was about public + private debt. UK is second highest in the world, behind Japan on total debt to GDP ratio.
My post was about public + private debt. UK is second highest in the world, behind Japan on total debt to GDP ratio.
Jeff Young
GT40s Supporter
Correct. So for the last 12 years, both parties have been responsible for the increase in the debt/deficit (note that the last 1.5 years of the Obama administration have been under a Republican Congress).
The real question is, what did we get for the debt?
1. Bush: Expansion of Medicare, two wars, tax cuts, and the 2008 kabloiee.
2. Obama: Stave off recession, save Wall St. and the car companies, expanded health insurance coverage.
I'll take door no. 2 please.
And now it is time to start to pay it down. Which requires tax increases and cuts. Only one party is willing to do both.
Jim Craik
Lifetime Supporter
President BushII inherited a good,fairly healthy economy. Under conservative leadership, huge spending increases, added to two wars, were bad enough, but the morons also cut taxes!
They told us these tax cuts would make the conomy grow and grow! They told us this economy growth would more than offset the tax cuts!
How did that work for you Tom?
Bush almost double the debt and left Presidet Obama, with failing banks, failing industry and huge unemployment.
With Obama as president, the consevativ have done essentually nothing to help the economy, there hope was that a bad economy would make Obama a one term President.
These selfish conservatives were willing to screw America and the world for their own short term personal gain.
Yes President Obama increased the debt.
But rather than allowing the Banks, Wall Street, General Motors and the rest to fail, leading to a World Wide Depression, he did the hard thing, he did the right thing, and its working.
The Banks did not fail, Wall Street valuation is at new heights, well above when BushII bcame president. General Motors is profitable, unemployment is declining, the economy is on the mend and the bail out funds are starting to be paid back.
Does anyone think that we would be better off with a McCain Palin administration?
Tom even if you and the other right wing dreamers can not see this, the vast majority of the American people can!
President Obama will be re-elected in a walk!
Jeff Young
GT40s Supporter
I actually think we'd be in almost exactly the same situation with a McCain administration. McCain was not dumb, and he would have done exactly what Obama did. Pretty much all economic advisors at the time knew the bailouts and the stimulus were necessary.
I was posting a fact about UK debt to GDP vs US debt to GDP, nothing about your post. You need to work on your "not being rude" skills.
Jeff Young
GT40s Supporter
Do "not being rude skills" include calling folks "arrogant SOBs?"
Jim Craik
Lifetime Supporter
Jeff,
I think we should cut Tom some slack, he was the only consevative on the fourm who was brave enough and honest enough to say that Breitbart, Limbaugh, Hanity, Oberman and Maddow were not Heros, not Patriots and not Great Americans.
He also sid that MSNBC, FOX and the other one sided hate talk programing was not good for America.
He was alone, and that says alot about his character.
All the other conservatives were on our fourm thought that Mr Limbaugh was a hero and a great American when he said that any woman who choses to use birth control is a "slut and a prostitute"!
I know its hard to believe, but he rest all defended Mr Limbaugh.
No wonder they will loose the election.
I think we should cut Tom some slack, he was the only consevative on the fourm who was brave enough and honest enough to say that Breitbart, Limbaugh, Hanity, Oberman and Maddow were not Heros, not Patriots and not Great Americans.
He also sid that MSNBC, FOX and the other one sided hate talk programing was not good for America.
He was alone, and that says alot about his character.
All the other conservatives were on our fourm thought that Mr Limbaugh was a hero and a great American when he said that any woman who choses to use birth control is a "slut and a prostitute"!
I know its hard to believe, but he rest all defended Mr Limbaugh.
No wonder they will loose the election.
Last edited:
