At the same time what is not mentioned is that the tax burden is at its lowest since the 1920's. Its not a debt issue really, but an revenue issue. If the Shrub tax cuts are allowed to sunset at the end of the year, there goes a substantial portion of the debt. I think we ought to have a more radical step. simply going back to the same tax rates that were in effect at the start of Reagan's second term, have a 15% cut in military spending, and a 10% cut in discretionary social spending. Then apply all these new revenues and savings to the debt until it is paid off. Then set up a large rainy day fund that could also be used for social, community and other forms of investing.
On Sat, Jul 14, 2012 at 6:03 PM, Gruss Gott <grussg...@gmail.com> wrote: > > Unfortunately none of that changes the last 30 years of policy that's > resulted in massive US citizen and gov't debt via perverse incentives. > > And all of it paid for with foreign savings funneled through a broken > under-capitalized banking system. > > Bottom line is that no president of either party will change that. > > [spooky campfire voice] > > ... It aaaaalllllll started in 1972 when Nixon went to China .... > > > > On Jul 14, 2012, at 10:22 AM, "Larry C. Lyons" <larrycly...@gmail.com> wrote: > >> >> Since Obama took office: >> - the GDP was -8% and today it's 2.2+% (it'd be over 3.2 if not for >> all the gov't layoffs in state/local -- particularly teachers) >> - the DOW was <7000K and now it's over 10K >> - the Recovery Act provided ~4million jobs (according to the CBO) >> - over 26 straight months of private sector growth, producing >> over 4 million jobs >> - rescue of the auto industry succeeded in saving over a million jobs; >> GM on top; Chrysler's 1Q '12 results showed earnings up over 25% >> - manufacturing jobs have increased to pre 2004 levels >> - US home sales rose 3.4% in April 12 from March >> - federal spending is down for the 1st time in 40 years >> - taxes cut for every working American >> - taxes cut for small businesses 18x >> - $200 billion in tax relief and incentives for small business >> - exports are up over 30%; exports to Western Hemisphere up over 40% >> - 3 international trade deals signed with S. Korea, Panama and Columbia >> - Affordable Care Act signed(the health care system in the US is >> decimating American middle class) >> - Ledbetter Act signed >> - added ~ 900 border patrol officers >> - out of Iraq >> - killed bin Laden >> >> >> On Sat, Jul 14, 2012 at 12:35 PM, Gruss Gott <grussg...@gmail.com> wrote: >>> >>> Despite the fact I'm probably voting for him (regretfully), I find the list >>> below interesting for this reason: >>> >>> If real wages aren't rising in our country (for ~30 years) and the middle >>> class is being gutted, then the 1%ers MUST fill the wage gap somehow. >>> >>> Both parties have clearly decided to do that by allowing bad loans, growing >>> govt benefits, and paying for it all by borrowing from China. And have >>> been doing so for at least 20 years. >>> >>> So this isn't a contest of policy, it's a contest of blame: do you like to >>> complain about high benefits or low taxes? >>> >>> Because either way you're going to get the same policy until we can't >>> borrow any longer and the economy collapses or things get suddenly and >>> sharply painful. >>> >>> Might be in your lifetime, might not. Probably will be in the next 10 >>> years. >>> >>> -------------------------------------- >>> http://www.yolohub.com/economy/70-facts-president-obama-doesnt-want-you-to-know >>> The following are 70 facts that Barack Obama does not want you to see . >>> >>> $3.59 - When Barack Obama entered the White House, the average price of a >>> gallon of gasoline was $1.85. Today, it is$3.59. >>> >>> 22 - It is hard to believe, but today the poverty rate for children living >>> in the United States is a whopping 22 percent. >>> >>> 23 - According to U.S. Representative Betty Sutton, an average of 23 >>> manufacturing facilities permanently shut down in the United States every >>> single day during 2010. >>> >>> 30 - Back in 2007, about 10 percent of all unemployed Americans had been >>> out of work for 52 weeks or longer. Today, that number is above 30 percent. >>> >>> 32 - The amount of money that the federal government gives directly to >>> Americans has increased by 32 percent since Barack Obama entered the White >>> House. >>> >>> 35 - U.S. housing prices are now down a total of 35 percent from the peak >>> of the housing bubble. >>> >>> 40 - The official U.S. unemployment rate has been above 8 percent for 40 >>> months in a row. >>> >>> 42 - According to one survey, 42 percent of all American workers are >>> currently living paycheck to paycheck. >>> >>> 48 - Shockingly, at this point 48 percent of all Americans are either >>> considered to be low income or are living in poverty. >>> >>> 49 - Today, an astounding 49.1 percent of all Americans live in a home >>> where at least one person receives benefits from the government. >>> >>> 53 - Last year, an astounding 53 percent of all U.S. college graduates >>> under the age of 25 were either unemployed or underemployed. >>> >>> 60 - According to a recent Gallup poll, only 60 percent of all Americans >>> say that they have enough money to live comfortably. >>> >>> >>> >>> >>> >>> >>> >>> >> >> > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:352692 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
