Debt Debate in Congress

[bokworker]

^^^^
Tax tail wagging the investment decision dog...or horse in this case.

[Conan71]

^^^^
Tax tail wagging the investment decision dog...or horse in this case.

Apparently people were investing in race horses before this nice little tax pork.

[nathanm]

except when they are used as part of a stimulus, then they don't count.

When they're temporary, they don't add significantly to the long term budget problem. If you recall, I have been saying all along that tax cuts are dumb in this environment. If QE doesn't work, why would we think that another form of dumping cash into the economy is going to help?

Conan, you can either believe arithmetic or not. Apparently, you have decided not. Sad.

[guido911]

When they're temporary, they don't add significantly to the long term budget problem. If you recall, I have been saying all along that tax cuts are dumb in this environment. If QE doesn't didn't work, so why would we think that another form of dumping cash into the economy is going to help?

Conan, you can either believe arithmetic or not. Apparently, you have decided not. Sad.

fify.

Here's a debate on the debt ceiling featuring the guy that started the tea party.

http://www.bing.com/videos/watch/video/what-s-the-deal-with-debt/6ce8whi?from=

[nathanm]

I thought this was an interesting statement. Guess which prominent 20th century political figure made it.

Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history. There is a tiny splinter group, of course, that believes that you can do these things. Among them are a few Texas oil millionaires, and an occasional politician or businessman from other areas. Their number is negligible and they are stupid.

[guido911]

I thought this was an interesting statement. Guess which prominent 20th century political figure made it.

http://urbanlegends.about.com/library/bl_eisenhower_quote.htm

[nathanm]

Different times, I guess. Rand Paul proposes to eliminate Social Security and he's praised, not called stupid.

[guido911]

Different times, I guess. Rand Paul proposes to eliminate Social Security and he's praised, not called stupid.

I googled this assertion and could not find where he wants it eliminated. I found a recent story that noted he wants to raise the retirement age and a means test for the wealthy.

[Breadburner]

Different times, I guess. Rand Paul proposes to eliminate Social Security and he's praised, not called stupid.

You must love getting owned all the time......lol

[nathanm]

I googled this assertion and could not find where he wants it eliminated. I found a recent story that noted he wants to raise the retirement age and a means test for the wealthy.

I'm sorry, you're right. I was conflating Social Security and Medicare. He wants to eliminate Medicare and replace it with a voucher program. And in true Orwellian style, he wants to call the voucher program Medicare.

[nathanm]

You must love getting owned all the time......lol

You must enjoy sitting on the sidelines and sniping like a third grader.

[guido911]

I'm sorry, you're right. I was conflating Social Security and Medicare. He wants to eliminate Medicare and replace it with a voucher program. And in true Orwellian style, he wants to call the voucher program Medicare.

Medicare didn't come to pass until 1965, more than 10 years after Ike wrote the statement we are talking about. Who knows, he might have lumped in Medicare in his semi-laundry list if it existed during his time? I wonder what he would think about Stimulus, QE, the monstrous size of SS and Medicare, and our debt. He might have changed his tune.

[Hoss]

Medicare didn't come to pass until 1965, more than 10 years after Ike wrote the statement we are talking about. Who knows, he might have lumped in Medicare in his semi-laundry list if it existed during his time? I wonder what he would think about Stimulus, QE, the monstrous size of SS and Medicare, and our debt. He might have changed his tune.

He also forewarned us in his exit speech of the danger of the growing Military Industrial Complex.  He was sure clairvoyant there.

[guido911]

I wonder what kind of response the video at this link will garner.

http://www.huffingtonpost.com/2011/07/07/orrin-hatch-debt-poor-rich_n_892177.html

[Hoss]

I wonder what kind of response the video at this link will garner.

http://www.huffingtonpost.com/2011/07/07/orrin-hatch-debt-poor-rich_n_892177.html

I sometimes wonder if at home you talk just to hear the sound of your own voice.  But then I remember who I'm pondering about...and think of the time I wasted.