• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Recovery? How About 'Relapse'?

Cold Highway

Dispenser of Negativity
DP Veteran
Joined
May 30, 2007
Messages
9,595
Reaction score
2,739
Location
Newburgh, New York and World 8: Dark Land
Gender
Male
Political Leaning
Libertarian
Rebound? In the first quarter of 2010, private business paychecks shrank to new lows, representing their smallest share of personal income in US history, while government-provided benefits (social security, unemployment, food stamps, etc.) rose to record highs.

With private sector jobs being lost, incomes declining and tax bases shrinking, the increases in government spending were both unsustainable and destructive. More was being spent by the government than earned by the private sector. Not only were taxes not covering expenses, impoverished states with insufficient cash on hand to meet obligations were holding back tax refund checks!

So who with a straight face can say that when Government spends more than people are making as a collective as a good thing?

Recovery? How About 'Relapse'? by Gerald Celente
 

Johnny

Well-known member
Joined
Aug 8, 2010
Messages
571
Reaction score
205
Gender
Male
Political Leaning
Libertarian
When I saw the title I thought you were posting about Eminem's last two albums lol.

They need to start cutting the POTUS' and Congressmen's pay. They need to stop these wars and start ending this military empire around the world.

Foreign policy and politicians are some of the biggest wastes of money and the costs are sky high.

Spending needs to be cut somewhere.
 

MaggieD

DP Veteran
Joined
Jul 9, 2010
Messages
43,244
Reaction score
44,662
Location
Chicago Area
Gender
Female
Political Leaning
Moderate
So who with a straight face can say that when Government spends more than people are making as a collective as a good thing?

Recovery? How About 'Relapse'? by Gerald Celente

I can. Families do it--while being fiscally responsible. There's no reason government can't do it as well. The way our government is doing it, though, is unsustainable. We have a national debt we never pay down. We only create more. It's not much different than a home equity loan that requires a payment of interest-only...never paying down the principle. Look what that creative financing did to our housing market. It will, eventually, do the same thing to the US. We aren't tooooo bad off now. Our national debt is about 35% or so of our annual income (taxes and all revenue the Fed gets). If a family was trying to borrow money to buy a house that put their debt/equity ratio at 35%, it would certainly raise eyebrows and the interest rate. Too high.
 
Top Bottom