sturg33
I
I look forward to you addressing my comments
The Don
- Thread starter The Tariff King
- Start date
I look forward to you addressing my comments
50PoundHead
Hessmania Forever
There is a danger in confusing the year-to-year budget with on-going debt. Clinton did run a budget surplus, but remember that's on an annual basis. Like your credit card, the debt only goes away completely when you've paid off all the principal. Clinton's surplus was after debt service payments had been paid, but there was still a lot of debt left and given the economic downturn that followed the deficit spending taking place in the W. administration and exacerbated by the Obama stimulus package, the debt was bound to spiral.
It's also important to distinguish between the structural deficit and the portion of the deficit that is cyclical in nature. If the sum of all spending programs exceeds what you expect to take in in taxes and fees, that is structural (and as a result you are borrowing and adding to the debt). But part of any budget deficit (or surplus) is due to the level of economic activity which affects the magnitude of tax and fee receipts. That is the cyclical portion of budget deficit or surplus.
It's also important to distinguish between the structural deficit and the portion of the deficit that is cyclical in nature. If the sum of all spending programs exceeds what you expect to take in in taxes and fees, that is structural (and as a result you are borrowing and adding to the debt). But part of any budget deficit (or surplus) is due to the level of economic activity which affects the magnitude of tax and fee receipts. That is the cyclical portion of budget deficit or surplus.
57Brave
Well-known member
Wasn't planning on it because I think the issue is far more complicated than my limited knowledge or what I could write on a baseball current events forum.
My point in initiating the conversation and something we both took from Benen's article was erasing the debt in 8 years is next to impossible.
My question is, will we ever erase debt ? We borrow through bonds etc to build infrastructure. We probably still have war bonds out from WWII.
etc etc etc
Doesn't that make railing against debt kinda like railing against heat in the summer or darkness at night ?
If you, like Dr Paul, think that eliminating the debt is necessary, how is it done?
And how long do you think it will take?
sturg33
I
We'll never get out of debt if we don't end entitle programs and our aggressive foreign policy.
There needs to be a legit 40 year plan to eliminate social security... I've already scribbled something together that I plan to eventually send to my rep (where I'm sure it'll be trashed).
The foreign policy is very easily adjusted with the right leadership.
Medicare/Medicaid need to be completely overhauled (eliminated).
I don't know how long this would need to take, but it is of course possible if we actually tried to do it.
57Brave
Well-known member
Not trying to be confrontational --
But isn't what you describe the economic landscape of late 19th century to post WWI ?
I do applaud your stance on 40 year plans, not so much the outright elimination of SS and Medicare-caid.
But, a long term outlook is a good place to start.
Looking for more info I googled "Does SS contribute to debt" and article after article repeat that SS (by law) is not a contributor to national debt.
Can someone explain why SS is included in debt and deficit conversation
But isn't what you describe the economic landscape of late 19th century to post WWI ?
I do applaud your stance on 40 year plans, not so much the outright elimination of SS and Medicare-caid.
But, a long term outlook is a good place to start.
Looking for more info I googled "Does SS contribute to debt" and article after article repeat that SS (by law) is not a contributor to national debt.
Can someone explain why SS is included in debt and deficit conversation
sturg33
I
SS is guaranteed at a payout much higher than what was paid in. If the investments don't work out, the government has to borrow to fulfill those obligations. Additionally, the government has "borrowed" from the SS trust fund for decades... and now they have to "borrow" to pay their obligations today
AerchAngel
<B>Secretary of Statistics</B>
That is the problem to pay other benefits they shouldn't have.
Yes, I am back and you all already hate me, not the 57 level but close to it.
SS is funding welfare but the Repubs are allowing jobs to go overseas or Dems letting illegals to come in and take the jobs so blacks, trailer trash whites, Hispanics are getting these checks to do nothing to contribute to society. This must stop. Asians, both Middle East and China/Korea/India/any other in the area are legal and most are doing well, why? THEY FU*CKING WORK and don't rely on our government, just the FU*CKING green card to have a job.
Runnin
Well-known member
Here's a humorous take on Trump from a Scottish journalist (The Guardian).
His position on climate change is “How can there be global warming when it’s still so cold in my soul?”
His position on climate change is “How can there be global warming when it’s still so cold in my soul?”
sturg33
I
57Brave
Well-known member
how's bout that Denny Hastert.
REad where he is ashamed
Benghazi or Email scandal?
Scamming college kids - but it falls right into line - you know the bullying of those that cant defend themselves from the powerful.
I still say you end up voting for Trump -- he's your kinda pol
zitothebrave
Connoisseur of Minors
He'll easily outfox Hillary in the debates.
Oklahomahawk
Boras' Client
Any debates between Donald and Hilldog might be the most colossal waste of time in the history of politics. We both know everything Trump says, no matter how outfreakingrageous, his supporters, or just those who hate Hilldog, will scream and support!!! We also know everything Hilldog says, no matter how outfreakinrageous, her supporters, or just those who hate Trump, will scream and support. They could both literally read the phonebook and all anyone will say is how their person is obviously the right choice and the other candidate is totally freaking nuts!!!