The US needs to borrow almost $300 billion this week

Discussion in 'Current Events' started by trucker, Mar 27, 2018.

  1. Bluesguy

    Bluesguy Well-Known Member Donor

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    Since I don't "pin" it on any what's your point. What I don't do as liberals feabally try to so is pin it on Republicans who had lost the Congress to the Democrats a year before the recession even began.

    I didn't sell mine because I knew prices were inflated and the replacement I would have to buy would lose that value as prides came down. I was actually hoping they woe come down because my taxes and insurance had gone up along with those values going up. Still in that house and didn't lose a penny except on paper.

    You tell me not my claim that "caused" it.

    The bill the Democrat Congress passed? Yes they should have learned from the one the Republicans passed in 2001. Such stimuluses, demand side policies, have little if any effect. It didn't and yet they then passed their their HUGE $900B stimulus which also failed. They should have done what Bush wanted and that was make the tax rates that were passed in 2001 permanent.
     
    Last edited: Apr 3, 2018
  2. Bluesguy

    Bluesguy Well-Known Member Donor

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    Lack of response noted again.

    Why don't you just give up?
     
  3. rahl

    rahl Banned

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    off topic thread derailment.

    Why would I give up? You've been soundly owned, lol.
     
  4. Bluesguy

    Bluesguy Well-Known Member Donor

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    Lack of response noted again why do you keep running from your own assertions?
    You making a statement, someone responding then you claiming derail or already responded is not civil reasoned debate.
     
  5. Quantum Nerd

    Quantum Nerd Well-Known Member

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    So, if you don't blame the Dems for the financial crisis, then why do you keep bringing up your spiel that the Dems took congress in 2007, a year before the sh*t hit the fan?

    Who then is to blame for the financial crisis, if it isn't congressional Democrats?
     
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  6. Bluesguy

    Bluesguy Well-Known Member Donor

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    Why do you engage in this folly that either the Republicans or the Democrats CAUSED the recession? It is YOUR claim one of them CAUSED IT well the Democrats took control of the Congress a year BEFORE the recession lame ducking Bush.

    So who do YOU blame it on?

    I have been QUITE clear in my post. I blame the Democrats for not taking proper measures to help MITIGATE the damage and taking measures that helped to deepen and lengthen it and keep us from a full recovery.
     
  7. AZ.

    AZ. Banned

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    We could never blame it on deregulation or changes in laws to help Wall St. could we?...to simple I guess?
     
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  8. Quantum Nerd

    Quantum Nerd Well-Known Member

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    Yes, it is QUITE clear to anyone, GWB and his GOP congress owned government for 6 years prior to the great recession. they deregulated the financial industry, and gave reckless tax cuts that made people FEEL prosperous short term, spending money the didn't have, all based on personal debt and credit. Those policies, together with FED low interest rates, created a huge debt bubble that eventually burst.

    So, what would have been your measures to mitigate the fallout from the great recession? Oh, I already can guess: Further tax cuts coupled with government austerity, and further deregulation. That would have worked REALLY well to make the great recession into a depression.
     
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  9. rahl

    rahl Banned

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    off topic thread derailment.
     
  10. rahl

    rahl Banned

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    but we know that your argument is debunked bullshit. Democrats turned around the worst recession in 80 years, and led the country to almost full employment, record high stock market and the most consecutive months of jobs growth of any US president in US history.
     
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  11. Bluesguy

    Bluesguy Well-Known Member Donor

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    When you are willing to answers questions asked of you and not engaged in your trolling and have a civil reasoned discussion let me know.
     
    Last edited: Apr 3, 2018
  12. Bluesguy

    Bluesguy Well-Known Member Donor

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    And during that time there was the dot.com bubble and huge tech sector collapse, the recession that started weeks after Bush took office, then 9/11 just as we came out of the recession. But they took mostly the correct actions, except the 2001 tax prebate stimulus which did nothing, and the recession only lasted 9 months and unemployment hit a high of just 6.5% and quickly started to recede and the the deficit hit a one year $400B high and then as the tax rate cuts were full implemented and we had full employment with rising incomes and we had average LFPR, and we had tax revenue growth soaring to 15% they brought the deficit down to a paltry $161B.,

    Then the Democrats took the Congress and had the 2008 recession which didn't happen for a year to deal with and they did almost exactly the opposite and we had exactly the opposite results with the deficit soaring to $1,400B and staying over $1,000B for the next three years and they even came close to the Republicans worst. Unemployment soared over their "the stimulus will keep unemployment to just 8%" to 10% and stay over 9% for three years. Their policies failed to mitigate the recession, shorten it, or get us into a full recovery. Why we would want to go back to that is beyond me.


    Make the Bush tax rate cuts permanent or at least extend them another 10 years. Cut the corporate tax rate. Place a moratorium on new business and employment regulations including EPA restrictions and regulations on energy. Open Alaska and offshore drilling and policies to encourage fracking. Repatriate offshore corporate profits and end the double taxation. NOT do a cash for clunkers as a way to stimulate the economy. NOT do a $800B stimulus to stimulate the economy. NOT increase spending 9% and then 18%. NOT encourage unemployment and welfare by lower work requirements or promising unending renewals. Not pass Obamacare with all it's new taxes and regulations.

    Of geez lots of stuff but then GET OUT OF THE WAY! What got us out of the recession was not anything the Democrats or Obama did it was the endurance and wearwithall of our businesses and markets and business leaders and investors. The best the government can do is to get out of the way our economy and stop trying to direct it so it can take credit for it.
     
  13. rahl

    rahl Banned

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    When you want to discuss the topic of a thread, and not try to derail them, let me know.
     
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  14. Bluesguy

    Bluesguy Well-Known Member Donor

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    I am, budgets vetoes, congresses, presidents and policies and your claims about them which you run from.
     
  15. rahl

    rahl Banned

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    I have not run from anything. I've responded to and refuted everything on topic you've posted in this thread.

    I keep ignoring your off topic thread derailments.
     
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  16. Bluesguy

    Bluesguy Well-Known Member Donor

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    When you are ready to have a two-way debate let me know, you refusing to respond makes it impossible.
     
  17. bwk

    bwk Well-Known Member

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    I thought under a Republican administration, the debt wasn't supposed to come up at all? Silly me!
     
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  18. Zorro

    Zorro Well-Known Member

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    Yeah, that is pretty dumb thing for you to think.
     
  19. rahl

    rahl Banned

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    I have refused nothing. I have responded directly to your incorrect arguments, and have refuted them completely. Your off topic thread derailment rants are ignored.
     
  20. Bluesguy

    Bluesguy Well-Known Member Donor

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    When you are ready to support your claims let me know.
     
  21. rahl

    rahl Banned

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    I didn't make any claims. I provided the facts. Your arguments remain refuted.
     
  22. Bluesguy

    Bluesguy Well-Known Member Donor

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    When you are ready to support the claims you make.....:popcorn:
     
  23. rahl

    rahl Banned

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    I didn't make any claims. I provided the facts. Your arguments remain refuted.
     
  24. Zorro

    Zorro Well-Known Member

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    Why does anyone give a damn what Krugman has to say, about anything?

    The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law’—which states that the number of potential connections in a network is proportional to the square of the number of participants—becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.”​

    -Nobel Laureate Paul Krugman, 1998
     
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  25. Longshot

    Longshot Well-Known Member

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    Priceless. He's such a hack.
     
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