Boo Radley
DP Veteran
- Joined
- Dec 20, 2009
- Messages
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Originally Posted by Goyboy:
Me believe everything that Republicans say? No way.
No political party has a monopoly on good ideas. No political party has a monopoly on bad ideas.
When Reagan blew the bank on military spending
Actual unemployment(including underemployed and discouraged workers) is over 20 % in the county I live in.
it certainly beats the government stealing wealth and doling it out to dem elites
Then it's probably more like 25~30% unemployment. During Reagan's era, the Department of Labor monkeyed around with how the actual unemployment computations are computed. There's a thing called U6 which is the broadest method of computing unemployment. That pretty much used to be the standard for what the reported amount was. We haven't had accurately reported unemployment numbers in the news in decades.
Very hard to take you seriously when you make such false statements as this.
After Vietnam, during the Nixon and Ford administrations, military spending decreased by nearly a third from its peak during the war. A modest increase during the Carter administration was then followed by a huge increase in military spending during the Reagan and Bush I administrations that was not justified by any external threat. Along with huge tax cuts based on crank supply-side economic theory, the big military buildup produced by far the biggest budget deficits since WW II. As the chart below shows, Reagan/Bush basically borrowed 100% (and more) of the money that was being spent on troops and armaments. (Deficits shown are "unified" budget amounts plus the amount borrowed from trust funds, taken from published government sources, as adjusted by the Senate Budget Committee). Note that negative deficit values, as plotted, are actually surpluses.
Very hard to take you seriously when you make such false statements as this.
Hardly "Blowing the bank". And if you check teh Domestic Spending, which was forced by the Democrat Party which was in power in the House/Senate... well, there you go. For an expert, you sure are prone to lying.
Hey look, military spending and the deficit raise significantly under Reagan, by the very chart you post. The democratic congress passed budget's very close to what Reagan proposed(within 5 %, and 1 year less than Reagan proposed).
Hey, I resemble that remark! :crazy3:This place is a loony bin.
Hey look, military spending and the deficit raise significantly under Reagan, by the very chart you post. The democratic congress passed budget's very close to what Reagan proposed(within 5 %, and 1 year less than Reagan proposed).
Unemployed people would benefit from the creation of jobs in the private sector.
What are Republican government officials doing to promote the creation of private-sector jobs?
What are Democrat government officials doing to promote the creation of private-sector jobs?
What is President Obama doing to promote the creation of private-sector jobs?
Sigh.
More dishonesty, from the revisionist. Not that I expected honesty from either of you.
To get the Defense Spending, that Reagan needed to defeat the Soviet Union, meant playing politics and giving the Dems what THEY wanted too. But let's not FACTS interfere with your spin.
Sigh.
More dishonesty, from the revisionist. Not that I expected honesty from either of you.
To get the Defense Spending, that Reagan needed to defeat the Soviet Union, meant playing politics and giving the Dems what THEY wanted too. But let's not FACTS interfere with your spin.
Dishonesty? I used the chart you provided...
No, you took without context information and created a fantasy. I guess people like OC would fall for it, but that's about it.
OK, I'll bite. Why is this recession different?All of those who are clamoring for fixes first need to think about why this recession is different.
OK, I'll bite. Why is this recession different?
No, you took without context information and created a fantasy. I guess people like OC would fall for it, but that's about it.
obvious Child, thank you for explaining how financial institutions are contributing to the current recession.
10% unemployment. This is where you're inability to admit the failure of your Ideology kicks in. Reagan's spending spurred what?What lack of context? Reagan increased military spending. True. He used the cold war to justify it, and may have even believed it, but that is irrelevant. He jacked up military spending. What effect did this have? Jobs. Obama jacked up spending. What do you think the result might be?
Congress passed the budget that Reagan submitted to them largely intact. It's true, they did.
Reagan cut taxes, Obama cut taxes. Both true. So what we see is a pattern of Obama acting in largely the same way Reagan did, and Reagan is the conservative messiah, and Obama is the anti-christ.
Let's start with the last major recession. The tech bubble collapse destroyed huge amounts of largely paper wealth in addition to large capital investments by VCs and individuals. That lead to a decline in consumer demand and thus a recession. The underpinnings of lending and leverage were not affected. Firms were capable of getting financing at decent rates without serious problems. Government could stimulate demand and businesses had access to capital to meet that demand.
This recession is fundamentally different. The underpinnings are financial. When the big investment banks and houses lost huge amounts of money in their securitized assets they also faced the daughting problem of meeting their financial obligations on leverage they used to buy those assets. Basically they had big holes in their balance sheets in the assets and huge liabilities. That basically destroyed their willingess to lend. As many firms are leveraged up to the hilt for every day operations, distruptions to financing are indeed fatal. So how can you use the same principles for a regular recession to a financial recession when the required factor, financing, isn't avaliable for firms to utilize to meet demand? And when companies right now who are operating cannot refinance or even revolve their lines of credit, they cut back leading to more and more unemployment and less and less demand. With less demand from fewer workers, less incentive to start a business and coupled with no financing, we're pretty much up **** creek.
Financial crisies have caused massive problems. The Asian Financial crisis for one was devastating, which IMO was a forebear for us as the US business environment is more dependent upon lending then the South Korean market was. The Mexican Peso crisis was barely averted by a massive US loan. Russia for years after the Ruble crisis had problems. There really isn't a good way out of this historically. Japan saw a decade of virtual no growth from its financially centered crisis.
Dude... that's just silly talk.
[/sarcasm]
No that is what is needed you just can't get democrats to do it. I hoppe the GOP learned their lesson on spending in 2006
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