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Author Topic: Public Debt Outlook  (Read 4573 times)

Offline Mr. Kennedy
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Public Debt Outlook
« on: April 28, 2009, 07:32:33 AM »


Now you can begin flaming me and telling me how these facts are all wrong.  I also expect Jumpman to chime in with some stupid remark.
\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline Jar O Pickles
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« Reply #1 on: April 28, 2009, 10:09:39 AM »
I\'m wondering when we\'ll all be required to carry little red ipods full of his speeches
\"If Christopher Reeve were alive today, I\'m sure he\'d be the first to say, \'Blue M&Ms? Are you fucking kidding me?\'\"
[PPS:] I\'m doing science and I\'m still alive.
[PPPS:] I feel fantastic and I\'m still alive.
[FINAL THOUGHT:] While you\'re dying I\'ll be still alive.
[FINAL THOUGHT PS:] And when you\'re dead I will be still alive.

Offline Coredweller
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« Reply #2 on: April 28, 2009, 10:13:17 AM »
How about some information regarding the formula that was used to generate that graph?
Or at the very least the source?
Is there an accompanying article?
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Offline Jumpman

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« Reply #3 on: April 28, 2009, 10:33:30 AM »
Now you can begin flaming me and telling me how these facts are all wrong. I also expect Jumpman to chime in with some stupid remark.
Who is this anamoly we call Jumpman? How is he able to do what he does and still survive after years of torment? It seems he feeds on the hate, growing with an intense passion to put unassuming members in their place.

Offline Mr. Kennedy
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« Reply #4 on: April 28, 2009, 12:54:23 PM »


BTW: The source is right on the image, Congressional Budget Office
« Last Edit: April 28, 2009, 12:58:19 PM by Mr. Kennedy »
\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline Coredweller
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« Reply #5 on: April 28, 2009, 04:08:12 PM »
Quote from: Mr. Kennedy
BTW: The source is right on the image, Congressional Budget Office
Actually no it isn\'t.  
 
Since you couldn\'t be bothered to provide a source (much like Giga\'s behavior last year) I had to find it myself.
 
It\'s the Republican party:  http://www.gop.gov/accountability
 
Of course they don\'t provide any information on how they projected that line on the graph.  They just expect you to look at it and say "uh huh... those damn democrats..."  If you like what the graph says, why would you need to know how it was made?  Just trust us.
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Offline Mr. Kennedy
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« Reply #6 on: April 28, 2009, 07:19:45 PM »
What is that smidgen under 2020?
\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline clips

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« Reply #7 on: April 28, 2009, 09:53:19 PM »
Hmmm...our financial system is on the brink of collapse and you think it\'s not going to take MONEY to fix it? We were already leaving a debt for our kids when we started borrowing money from china to fund the iraq war. How could people expect him not to increase the national debt given the situation?

It\'s a no-brainer that this was bound to happen.
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Offline Mr. Kennedy
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« Reply #8 on: April 29, 2009, 03:33:17 AM »
Quote from: clips
How could people expect him not to increase the national debt given the situation?


Ummm, he could NOT spend money and NOT increase the national debt.  If budget issues were the concern, why not CUT spending?

It\'s just illogical.  Bush started this whole spending free for all, and now Obama is magnifying it by ten fold.  Do they even care about the youth in America?
\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline clips

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« Reply #9 on: April 29, 2009, 04:31:48 AM »
So you say that he should\'ve sat back and let the economy fix itself?....without throwin\' any type of money at it? Do nothing about the housing mess? Doing it your way, this thing would\'ve crashed months ago. Any way you look at it, he had to spend trillions just to keep the economy going.

Bush & co. may have started this fiasco, but from what i understand the housing sector is really what made alot of banks and alot of our major institutions collapse. He\'s spending on solar technology, investing in american hybrid technology and other energy efficient ventures...yes those things cost money, but why should we wait until our backs are to the wall in terms of creating ways to lessen out dependence on foreign oil?.......gas is low now, and nobody\'s complaining, but those guys over in those arab countries, was saying that they wanted to cut oil production in half just so that they can increase demand.

So even with the state of the economy, these guys still want to have their cake and eat it...they are not even processing the oil in terms of converting it to gas and other products like other major gasoline companies(exxon/mobil)..they are just taking the crud out of the ground and selling it...and as you\'ve noticed gas prices are rising again as we get to the summer months (yes it normally happens every year, but my point is that regardless of the economy these guys still want to get the maxium price regardless of the global economy)

So when gas prices go back to the $2.50 - $4.00 mark....don\'t bitch and whine because of the prices...that said, of course i know these energy efficient technologies aren\'t going to end our dependence on oil in general, but it still gives us other options and over time hopefully it\'ll end up being cheaper and at the end of the day he\'s investing directly in america itself and not some foreign entity.....at least he\'s making an attemp for america to be the leader again in these types of technologies instead of foreign countries.
« Last Edit: April 29, 2009, 04:44:23 AM by clips »
knowledge, wisdom & understanding..these are the basic fundamentals of life

if you can\'t amaze them with brilliance, baffle them with bullsh*t....

Offline Mr. Kennedy
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« Reply #10 on: April 29, 2009, 04:39:31 AM »
Quote from: clips
So you say that he should\'ve sat back and let the economy fix itself?....without throwin\' any type of money at it?

Yes, that exactly what he should of done.  Let free markets be free markets.  There will always be casualties in a down economy, but the economy will always bounce back.  Spending money gives you a short term fix, but only hurts you more down the road.

Austrian Economics FTW.
\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline clips

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« Reply #11 on: April 29, 2009, 04:52:45 AM »
So you would\'ve let AIG fail? Fannie Mae Etc..Etc...while i agree that every firm should not be rescued, there are some firms that simply cannot fail....as much of an a$$hole AIG may have been with the bailout funds, from what i understand they had basically every american mortgage in a stranglehold, and that if they were to collapse it would\'ve been a horrific situation...not to mention they had a host of other smaller banks and foreign financial institutions mixed up in their mess...i think it was too risky to see what would have happened.....and last i checked Austria wasn\'t the no.1 economy in tha world...;)
« Last Edit: April 29, 2009, 04:56:08 AM by clips »
knowledge, wisdom & understanding..these are the basic fundamentals of life

if you can\'t amaze them with brilliance, baffle them with bullsh*t....

Offline Mr. Kennedy
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« Reply #12 on: April 29, 2009, 05:08:53 AM »
Quote from: clips
So you would\'ve let AIG fail? Fannie Mae Etc..Etc...while i agree that every firm should not be rescued, there are some firms that simply cannot fail....as much of an a$$hole AIG may have been with the bailout funds, from what i understand they had basically every american mortgage in a stranglehold, and that if they were to collapse it would\'ve been a horrific situation...not to mention they had a host of other smaller banks and foreign financial institutions mixed up in their mess...i think it was too risky to see what would have happened.....


I don\'t agree with the concept too big to fail.  While its heartbreaking to see people lose their jobs, why are theirs more important than the other 500,000 jobs that have been lost so far?  Just LET COMPANIES FAIL.  They are PRIVATE companies, and I don\'t want any part of them.  I am a firm believer that people don\'t learn anything if you bail them out.

What\'s great is I now own shares in companies I didn\'t want, and would have never bought on my own.  There is definitely a breach of freedom here.

Quote
and last i checked Austria wasn\'t the no.1 economy in tha world...;)


Seriously?  Never mind that you don\'t know what Austrian Economics is, but you didn\'t even bother to look it up.
« Last Edit: April 29, 2009, 07:39:54 AM by Mr. Kennedy »
\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline luckee
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« Reply #13 on: April 29, 2009, 06:43:49 AM »
Since you are so savvy on whats been going on.

Which firm started this mess mr. kennedy?

If you answer that correctly, I\'ll give you some credibility and continue this discussion with you.
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Offline Mr. Kennedy
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« Reply #14 on: April 29, 2009, 07:38:14 AM »
There\'s no single firm to blame.

This is the result of handing out mortagages to people who did should not have gotten them.  But that\'s what happens when everyone who can afford houses already has houses, mortgage lenders get greedy and make stupid decisions.

And on the automobile front, GM has no one to blame but themselves for making vehicles nobody wants.
« Last Edit: April 29, 2009, 07:39:20 AM by Mr. Kennedy »
\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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