Comments on: Bush Economic Recovery Policies Cut Deficit in HALF

By: Peter Hughes

Peter Hughes — Sun, 15 Oct 2006 18:52:50 +0000

Oh, looky here. The Dow closed Friday with an all-time high, and Monday’s forecast looks good as well.

All together now: “IT’S ALL BUSH’S FAULT!”

Regards,
Peter H.

By: V the K

V the K — Sat, 14 Oct 2006 13:41:26 +0000

The other thing is, people always running around in a panic about how much of our debt is owned by countries like China, and their claims that China could somehow call in its debt and bring about the Apocalypse. Pure scare talk. Supposing China and the other foreign debt owners did call in their debts. And suppose we said, “Frak you, you communist bastards, we’re not paying.” What would happen? Nothing. Lots of countries have reneged on their debts, and the World Bank (financed by US) just ponies up more. It would be no different with the USA.

By: your fucking mother

your fucking mother — Sat, 14 Oct 2006 03:19:32 +0000

liars and cowards, oh my!!

By: John in IL

John in IL — Sat, 14 Oct 2006 02:43:06 +0000

I’m glad V the K brought up the debt to GDP ratio. That measure is a much more accurate way to define to amount of debt we have. It shows the scale of our debt not just some debt clock clicking off big scary numbers. Right now our economy is growing about the same rate as our national debt is. A larger economy means that our ability to pay off a larger debt remains the same. If we are bankrupt, why would anyone be lending money to us at bargain basement interest rates? Also, the debt to GDP ratio is no where near historical highs. The lowest it was in recent years was in the late 70s. If you are old enough to remember, those weren’t the best of economic times.

Politicians love to scare people with debt numbers (and those evil foreigners who own part of it). Here is a good example:

“I have an uncomfortable feeling that this prosperity isn’t something on which we can base our hopes for the future. No nation in history has ever survived a tax burden that reached a third of its national income. Today, 37 cents out of every dollar earned in this country is the tax collector’s share, and yet our government continues to spend 17 million dollars a day more than the government takes in. We haven’t balanced our budget 28 out of the last 34 years. We’ve raised our debt limit three times in the last twelve months, and now our national debt is one and a half times bigger than all the combined debts of all the nations of the world. We have 15 billion dollars in gold in our treasury; we don’t own an ounce. Foreign dollar claims are 27.3 billion dollars”

Sound familiar? It is from Ronald Reagan in 1964. Change billions to trillions and it sounds like the same doom and gloom rhetoric that you get from today’s politician. Forty plus years later after Reagan spoke those words and I’m still waiting for the collapse of our economy. What do we have now? Near record low interest and unemployment rates, productivity levels the rest of the world envies and a standard of living no one could even think about in 1964.

By: V the K

V the K — Fri, 13 Oct 2006 12:31:15 +0000

#23 — You just keep that tinfoil packed real tight in your sunbonnet to ward off the mind control rays. When the extermination squads come, you can hide at Kevin’s house.

By: TGC

TGC — Fri, 13 Oct 2006 06:08:35 +0000

#23

How hysterical can you get?

By: Peter Hughes

Peter Hughes — Fri, 13 Oct 2006 05:19:11 +0000

#23 - Actually, Ashley, both the House and Senate open their sessions with prayers from their respective chaplains.

And as far as it being unsafe to be gay or bi, just look at how the Drive-By Media is treating Mark Foley. He’s been called pedophile, “unsafe around boys” and other epithets that the left usually (and incorrectly) associates with everyday conservatives.

So far you’re batting 0-2, honey.

Regards,
Peter H.

By: North Dallas Thirty

North Dallas Thirty — Fri, 13 Oct 2006 04:43:08 +0000

If you’re that worried about having a daily call to mandatory prayer and it being unsafe to be gay or bi, Ashley, vote with the party that OPPOSES Islamic fundamentalism.

That ain’t the Democrats.

By: Ashley Hunter

Ashley Hunter — Fri, 13 Oct 2006 04:28:11 +0000

V the K in #20: If we had that many Santorums and Coburns in charge we’d have a daily call to mandatory prayer and it wouldn’t be safe to be gay or bi.

By: Peter Hughes

Peter Hughes — Fri, 13 Oct 2006 04:26:29 +0000

#21 - Nonny, we can’t AFFORD to have a RAT in the White House for 4 years.

Regards,
Peter H.

By: Anonymous

Anonymous — Fri, 13 Oct 2006 03:53:51 +0000

Actually, you don’t even need that… you just need ONE Democrat in the White House and–voila!–budget balanced! FOUR YEARS IN A ROW!!!

By: V the K

V the K — Fri, 13 Oct 2006 00:10:55 +0000

If we had a Senate made up of 33 Rick Santorums, 33 Tom Coburns and 33 John Kyls (and one Ted Kennedy for comic relief) and a House with 435 Bobby Jindals… we’d have that deficit down to zero in no time.

If, on the other hand, we had 100 Ted Kennedies and 435 Nancy Botoxis… we would be so screwed.

By: Michael

Michael — Fri, 13 Oct 2006 00:08:09 +0000

[Comment deleted.� This commenter has been repeatedly deleted for conduct violating our commenting policy.]

By: V the K

V the K — Fri, 13 Oct 2006 00:04:56 +0000

And I have criticized the Bush Admin unceasingly for its spending and I have criticized the congressional Republicans for their earmarks and for monstrosities like the Highway Bill. Unlike some people, I’m not a silly partisan shill. I call it as I see it.

By: keogh

keogh — Thu, 12 Oct 2006 21:41:57 +0000

Come on V The K,
You know as well as me that Bush and the republican congress have done nothing but spend spend spend.
Spending is not a political party thing its a stay in power thing

By: V the K

V the K — Thu, 12 Oct 2006 21:41:12 +0000

I suppose the typical leftard would propose massive tax increases and huge military cuts to reduce the debt. So, I checked out some countries that have chosen to do that. The US Debt is about 64% of GDP. Sweden’s debt is nearly 200% of GDP. Japan’s is more than 150% of GDP. France, which has crushing taxes has a public debt at about the same as the US.

By: V the K

V the K — Thu, 12 Oct 2006 21:18:28 +0000

How do we get out of that mess?

Get rid of all the liberal democrats and their wasteful ineffective social programs, pare back government to its constitutional mandates, privatize social security, end medicare, and the throw out the regulations that hold back economic growth.

By: keogh

keogh — Thu, 12 Oct 2006 19:48:54 +0000

Food for thought:
http://www.brillig.com/debt_clock/
The Outstanding Public Debt as of 12 Oct 2006 at 07:45:43 PM GMT is:
8,549,941,410,862
The estimated population of the United States is 299,682,483
so each citizen’s share of this debt is $28,530.00.
The National Debt has continued to increase an average of
$1.64 billion per day since September 30, 2005!

How do we get out of that mess?

By: DanielFTL

DanielFTL — Thu, 12 Oct 2006 18:52:43 +0000

Better news than expected. The economy is humming along, even with a war. However, even the guy from the WSJ said (NPR 20061011) that the deficit WILL be going up again.

By: V the K

V the K — Thu, 12 Oct 2006 14:58:22 +0000

Steven Slivinsky of The Cato Institute puts this in perspective (H/T Frank IBC)

“Although the deficit is certainly smaller, it�s not because the White House and Congress suddenly have a newfound respect for spending discipline. Federal spending grew in excess of 7 percent this fiscal year. That�s faster than the expected growth in GDP of 6.5 percent. Besides, the federal budget is chomping on 20 percent of GDP. It consumed 18.5 percent of GDP when George W. Bush was inaugurated. And unfunded liabilities of entitlement programs continue to grow. Remind me again how this is progress?”