TakeYouToTasker Posted July 6, 2012 Author Share Posted July 6, 2012 I would actually agree to a point that uncertainty with certain things is hurting the economy a bit. I wish congress would just sit down right now and extend the current tax rates and increase the debt ceiling so we can move on from that argument. But, that would never happen with this Congress. Do you believe it prudent to continually increase our debt? Does there become a point when incurring debt becomes detrimental in your eyes? If so, what is that point? Link to comment Share on other sites More sharing options...
fjl2nd Posted July 6, 2012 Share Posted July 6, 2012 Do you believe it prudent to continually increase our debt? Does there become a point when incurring debt becomes detrimental in your eyes? If so, what is that point? Yes, there is a point but it isn't an arbitrary number. There is no real signs that our debt load is hurting us too much. We've seen these kind of debt levels (as a % of GDP) before and many other countries got themselves in much worse shape. The way to prevent the debt from spinning out of control is to have some sensible reforms to the social security and medicare programs. Drawing back our defense spending over time wouldn't hurt either. As for yearly deficits, the way to get those under control is simple: strong economic growth. Link to comment Share on other sites More sharing options...
IDBillzFan Posted July 6, 2012 Share Posted July 6, 2012 But, that would never happen with this Congress. Maybe we should start with a budget before we raise the debt ceiling again. After three years, you'd think the Dems could pull off that simple little step, no? Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted July 6, 2012 Author Share Posted July 6, 2012 Yes, there is a point but it isn't an arbitrary number. There is no real signs that our debt load is hurting us too much. We've seen these kind of debt levels (as a % of GDP) before and many other countries got themselves in much worse shape. The way to prevent the debt from spinning out of control is to have some sensible reforms to the social security and medicare programs. Drawing back our defense spending over time wouldn't hurt either. As for yearly deficits, the way to get those under control is simple: strong economic growth. I'm not sure where your disconnect is, so I'm going to ask you how you believe the supporting economics for your reasoning works. I hope you'll indulge me. Link to comment Share on other sites More sharing options...
fjl2nd Posted July 7, 2012 Share Posted July 7, 2012 Maybe we should start with a budget before we raise the debt ceiling again. After three years, you'd think the Dems could pull off that simple little step, no? Agreed, the Dems should come up with something more than they have. Although, the Congressional Progressive Caucus has come forward with a budget. Breakdown: My link Link to comment Share on other sites More sharing options...
3rdnlng Posted July 7, 2012 Share Posted July 7, 2012 Agreed, the Dems should come up with something more than they have. Although, the Congressional Progressive Caucus has come forward with a budget. Breakdown: My link I got as far with that article until it became obvious they wanted to increase the deficit for more social programs. Link to comment Share on other sites More sharing options...
fjl2nd Posted July 7, 2012 Share Posted July 7, 2012 (edited) I got as far with that article until it became obvious they wanted to increase the deficit for more social programs. The goal of the budget is to focus on getting back to full employment in the first two years. The Ryan budget goes straight to slashing and burning. That is not good economic policy at all. Comparison of job creation for each budget Immediately slashing government spending, as Ryan has proposed, is not a game or a joke—it’s economically irresponsible budget policy that has backfired across much of Europe and would seriously aggravate un- and underemployment. And as proven by the Budget for All, racing down the austerity path isn’t required for a fiscally responsible budget. The CPC budget would reach the same debt level as the Ryan budget without jeopardizing the economic recovery. from http://www.epi.org/blog/congressional-progressive-caucus-budget-jobs-impact/ Edited July 7, 2012 by fjl2nd Link to comment Share on other sites More sharing options...
3rdnlng Posted July 7, 2012 Share Posted July 7, 2012 (edited) The goal of the budget is to focus on getting back to full employment in the first two years. The Ryan budget goes straight to slashing and burning. That is not good economic policy at all. Comparison of job creation for each budget from http://www.epi.org/blog/congressional-progressive-caucus-budget-jobs-impact/ The writer of the article in your link below is a real liberal. Look at what he has authored. Taking on more debt is not the answer. How about this: Romney is sworn in. On his first day he says that we will appeal Obamacare but in the meantime he's giving a waiver to all of the states. Next he says, this country is now in the energy business. We will drill for oil and gas and mine coal and will end up a net exporter. Furthermore we will get rid of a ton of regulations holding commerce back. Lastly, the Bush tax cuts stay where they are at permanently. I can guarantee you that'll create a hell of a lot more jobs than the Feds just going deeper into debt in those mini stimulus attempts described in that article. Edited July 7, 2012 by 3rdnlng Link to comment Share on other sites More sharing options...
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