No one on either side even wants to fix the deficit.

Discussion in 'Politics & Religion' started by Max E. Pad, Jul 28, 2011.

  1. No one on either side even wants to fix the deficit, I was listening to a congressman on the news last night, and i cant remember who it was but basically he was saying he came up with a plan to balance the budget within 8 years. Meanwhile both sides are just coming up with stupid accounting gimmicks to say that they cut spending somewhere.

    All they would have to do is freeze current government spending, and cut 1 percent of the spending per year for 8 years, and the budget would be balanced with 3% growth.

    If this is true, then it just shows what a joke these negotiations are, they cant even come to a conclusion to cut a couple trillion over ten years, when they arent even making legitimate cuts to spending, they are just slowing down future spending increases, if this is how much of a struggle it is then there is no doubt in my mind we are completely fucked.

    Is there anyone in here who couldnt freeze their spending, and cut 1% out of their spending for a few years, if they took a paycut at work? We are talking about like 50 dollars a year you got to cut on a 5k monthly budget.
  2. Deficit spending gives the short-term appearance of "getting something for nothing"... neither side WANTS to alter that.

    The reality of the situation is different.
  3. Ricter


    What was wrong with the $4 trillion spending reduction and $1 trillion revenue raising plan? Oh, that's right, it's not balanced.
  4. Why doesnt Obama put that plan on paper for the CBO to score? From what ive read it was all backdated bullshit and accounting gimmicks, not to mention he added a bunch more in taxes on boehner at the last minute.
  5. Ricter


    Why doesn't the gop at least verbally support it? Oh, that's right, it's not balanced.
  6. Republicans already got duped once into accepting 40 billion in cuts, which turned out to only be 300 million by the time the dust settled, i agree with their stance on not raising taxes, atleast i agree that they shouldnt be raised for now, and i also think that Obama should put something on paper, its funny how he wont put his proposal on paper, if he really thought he had republicans nailed to a cross.

    What always ends up happening with these deals is taxes go up, and then future hypothetical cuts never materialise, you want to talk about raising my taxes, then get spending to a reasonable level first, because as it stands you can soak the rich for everything they have, and you arent going to balance the budget like that.
  7. For a bunch of what are supposed to be traders, y'all are seriously naive.
    The answer to the title is: "Yes".
    The reason:

    Democrats: did it once already, only to see all the gains blown by their successor, and then told that "deficits don't matter". If you think they would ever get conned into doing a thing like that again, you're out of your mind. Which is why Obama isn't going to ever propose anything that could actually do the job.

    Republicans: see above. We already know they couldn't give a crap. All mouth, no action. Only thing they're interested in is cutting taxes, and of course spending on their pet projects if they can manage it, this being their behavior during every one of the six years they had control of all the branches of government.
    The bill? That's the next guy's problem.

    The above means a loss of AAA is baked in already, whether it happens now or a few years from now.
    But that's just the appetizer. The main course, a full-blown debt crisis where suddenly the debt can no longer be rolled over, is somewhere out there in our future.
  8. This may be one of the dumbest posts i have ever read.

    Your posts are so obnoxious that it is hard for me to tell whether you are serious, or you are just throwing out dumb B.S. like Bearice because you get a kick out of it.

  9. Ricter


    Fortunately, most of the money we owe, we owe to ourselves. Since pensions and other benefits have become "too generous" to honor there should be little harm in blowing up bonds, too.

    ; )
  10. That's fine. Markets are doing interesting things today, so I'm not particularly interested in your little bleatings of faux outrage over what the politicians are doing.
    Carry on.
    #10     Jul 28, 2011