The B-----d is truly going to socialize our country and penalize the successful.
Those of you naive enough to think this will have no effect on the earnings and activity of the "rich" are sadly mistaken.
Looking at the deficit projections dwarfing those of the Bush years. I laugh, how Mr. Baxter thinks this is somehow a good thing. I guess he is a deficit hawk only when Republicans are in charge. And before you start, as the article says, it is going to get worse, not better, when the BB move through the system. Would that not argue to save some money now?
Obama Delivers $3.6 Trillion Budget Blueprint - WSJ.com
3 comments:
Doc Ganem:
Geez, not long ago you referred to deficits as "silly" and suggested that growth would ultimately pay the tab. Now - all of a sudden - it is a problem!?
I'm okay with deficits when in recession/depression. I want surpluses and debt paydown in times of growth. Hey - at least one of us is consistent.
Obama will not be allowed to run deficits indefinitely nor does he want to. The bond vigilantes will rise again once we have growth. It is this dynamic that makes James Carville want to be the bond market in his next life.
ELECTIONS HAVE CONSEQUENCES.
Did not refer to them as silly.
You need to stop putting words in my mouth.
I did note that the Bush deficits were relatively small compared to GDP but did not think they are silly. I would prefer they eliminate large parts of the federal government and reduce spending to eliminate the deficit.
The Clinton extravaganza was mostly the result of the Dot.com boom. There is no such thing on the horizon.
Again, and I am sure not for the last time, I admit that the Republican's spent too much, but that is a drop in the bucket (literally) compared to what this B-----D is doing.
You truly want overwhelming, multi, Trans generational deficits and the reinstitution of the welfare state?
How exactly are the bond vigilantes going to change the outlook? Hyperinflation, that would be great for interest on the debt. He is digging us a hole from which we may not recover.
The digging began January 20, 2001.
'Twas the 1993 budget bill, not dot coms, that balanced our budget. That along with Bush 41's tax hike and institution of pay/go w/Democratic Congress.
You did say "silly" - it was Christmastime and you were minimizing Dubya's tax cut borne deficits. I remember thinking at the time that it was an odd adjective.
Doubling the national debt in eight years is not a "drop in the bucket". Bush STRUCTURALLY created our current deficit. When you have yawning deficits in times of growth, what do you expect to have when a recession arrives? That, along with many other issues, is why deficit spending during times of growth is so reckless. The hole has been dug. Let's hope that our Democratic president and Congress get it filled.
Thanks again Republicans! Good job starving the beast!
Post a Comment