The fallacy of the GOP on spending

[independentusa]

In truth, spending during the Obama administrations spending grew slowly, while it jumped during the Trump administration and in conjunction with the tax cuts for the very wealthy, led to 7.6 trillion dollars in deficit spending. Now they want to act like the saviors of the nation when this is all for political purposes.

 

[dmpi]

Somebody needs to clean up America's out of control spending. Doesn't seem like the (D) are going to step up to the plate so that only leaves the (R).

 

[DrewPaul]

Somebody needs to clean up America's out of control spending. Doesn't seem like the (D) are going to step up to the plate so that only leaves the (R).

I suspect it won't happen until it has to happen because of a catastrophe.

 

[Geoist]

Somebody needs to clean up America's out of control spending. Doesn't seem like the (D) are going to step up to the plate so that only leaves the (R).

Funny how the GOP only seems concerned about spending when it's a Democrat in office. They are as predictable as the sunrise/sunset:

Republican strategist Jude Wanniski’s 1974 “Two Santa Clauses Theory” has been the main reason why the GOP has succeeded in producing our last two Republican presidents, Bush and Trump (despite losing the popular vote both times). It’s also why Reagan’s economy seemed to be “good.”

Here’s how it works, laid it out in simple summary:

First, when Republicans control the federal government, and particularly the White House, spend money like a drunken sailor and run up the US debt as far and as fast as possible. This produces three results – it stimulates the economy thus making people think that the GOP can produce a good economy, it raises the debt dramatically, and it makes people think that Republicans are the “tax-cut Santa Claus.”

Second, when a Democrat is in the White House, scream about the national debt as loudly and frantically as possible, freaking out about how “our children will have to pay for it!” and “we have to cut spending to solve the crisis!” This will force the Democrats in power to cut their own social safety net programs, thus shooting their welfare-of-the-American-people Santa Claus.

The GOP used a Two Santa Clauses tactic to con America for nearly 40 years - Salon.com

This scam has been killing wages and enriching billionaires for decades

www.salon.com

 

[Phys251]

Somebody needs to clean up America's out of control spending. Doesn't seem like the (D) are going to step up to the plate so that only leaves the (R).

You people have been repeating this lie for years. It's not any more true now than it was then.

 

[Nickyjo]

Somebody needs to clean up America's out of control spending. Doesn't seem like the (D) are going to step up to the plate so that only leaves the (R).

How is it out of control? What would you cut?

 

[Checkerboard Strangler]

Funny how the GOP only seems concerned about spending when it's a Democrat in office. They are as predictable as the sunrise/sunset:

Republican strategist Jude Wanniski’s 1974 “Two Santa Clauses Theory” has been the main reason why the GOP has succeeded in producing our last two Republican presidents, Bush and Trump (despite losing the popular vote both times). It’s also why Reagan’s economy seemed to be “good.”

Here’s how it works, laid it out in simple summary:

First, when Republicans control the federal government, and particularly the White House, spend money like a drunken sailor and run up the US debt as far and as fast as possible. This produces three results – it stimulates the economy thus making people think that the GOP can produce a good economy, it raises the debt dramatically, and it makes people think that Republicans are the “tax-cut Santa Claus.”

Second, when a Democrat is in the White House, scream about the national debt as loudly and frantically as possible, freaking out about how “our children will have to pay for it!” and “we have to cut spending to solve the crisis!” This will force the Democrats in power to cut their own social safety net programs, thus shooting their welfare-of-the-American-people Santa Claus.

The GOP used a Two Santa Clauses tactic to con America for nearly 40 years - Salon.com

This scam has been killing wages and enriching billionaires for decades

www.salon.com

The Two Santas theory

 

[Davin]

Somebody needs to clean up America's out of control spending. Doesn't seem like the (D) are going to step up to the plate so that only leaves the (R).

Funny you cons had no problem with Trump's out of control spending and even supported it by wanting him in for another term. So go sell your faux lying outrage elsewhere because no one of intelligence is buying your bullshit lies.

 

[Geoist]

This needs to be posted on every debt ceiling thread:




This too:

 

[CaughtInThe]

 

[Chillfolks]

Hypocrisy in politics, man this must be a new thing for 2023, I’m surprised no one has seen it in the past.

 

[Ishm]

Somebody needs to clean up America's out of control spending. Doesn't seem like the (D) are going to step up to the plate so that only leaves the (R).

Under every Dem president since pre Reagan the countries deficit (from 1st budget to last budget in their term) has been shrunk. Under every Republican president over the same period the deficit has increased. What is the evidence you have that suggests that Republican control would be any different next time? All I see is lots of focus on cutting expenditure on items that might `predominantly support Dem voters in an attempt to shift votes. If the Republicans want to convince people about being serious in addressing the deficit, let's see a full budget proposal that the voters can actually evaluate. They didn't even present a budget in 2020, just lots of typical vague promises about how they would somehow be better than the Dems. Personally I have voted for conservative leaderships most of my life because I prefer tight fiscal policy, but no way that I can believe a word the current crop of magas say.

 

[Port & Starboard]

In truth, spending during the Obama administrations spending grew slowly, while it jumped during the Trump administration and in conjunction with the tax cuts for the very wealthy, led to 7.6 trillion dollars in deficit spending. Now they want to act like the saviors of the nation when this is all for political purposes.

The usual blame game.

What are your solutions going forward?

 

[Craig234]

Somebody needs to clean up America's out of control spending. Doesn't seem like the (D) are going to step up to the plate so that only leaves the (R).

No, we need to clean up the oligarchy tax cuts for the rich, and R aren't about to step up, that leaves D.

 

[Craig234]

He asked Schumer and Pelosi if anyone (on their side) would use the debt ceiling to negotiate, they told him absolutely not, and didn't.

 

[Port & Starboard]

No, we need to clean up the oligarchy tax cuts for the rich

This will miraculously change federal spending habits. You remind me of a man who walks into a barber shop asking the barber if he needs a haircut.

 

[Blue Dog]

Why is that the GOP become deficit hawks when the opposition holds the WH?

Rhetorical….

 

[Razoo]

Funny how the GOP only seems concerned about spending when it's a Democrat in office. They are as predictable as the sunrise/sunset:

Republican strategist Jude Wanniski’s 1974 “Two Santa Clauses Theory” has been the main reason why the GOP has succeeded in producing our last two Republican presidents, Bush and Trump (despite losing the popular vote both times). It’s also why Reagan’s economy seemed to be “good.”

Here’s how it works, laid it out in simple summary:

First, when Republicans control the federal government, and particularly the White House, spend money like a drunken sailor and run up the US debt as far and as fast as possible. This produces three results – it stimulates the economy thus making people think that the GOP can produce a good economy, it raises the debt dramatically, and it makes people think that Republicans are the “tax-cut Santa Claus.”

Second, when a Democrat is in the White House, scream about the national debt as loudly and frantically as possible, freaking out about how “our children will have to pay for it!” and “we have to cut spending to solve the crisis!” This will force the Democrats in power to cut their own social safety net programs, thus shooting their welfare-of-the-American-people Santa Claus.

The GOP used a Two Santa Clauses tactic to con America for nearly 40 years - Salon.com

This scam has been killing wages and enriching billionaires for decades

www.salon.com

Excellent excellent investigative journalism and news source .............. = standing ovation. Supply Side Economics quickly became WRECKANOMICS.

 

[post]

The usual blame game.

What are your solutions going forward?

The obvious ....

The Fed - Distribution: Distribution of Household Wealth in the U.S. since 1989

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

 

[Razoo]

This needs to be posted on every debt ceiling thread:




This too:

The opponents of Social Security will stop at nothing in their long crusade to destroy the most efficient retirement system in the world.

Opponents have taken two tracks to attack Social Security. The first is to claim the system as it is will fail, and the second is to claim that privatization is a better way to provide for retirement security.

The first claim was the favorite from 1935 to about 2001.Then the privatization claim became the vogue. Now the first is back on the table.

With corporations routinely defaulting on their pension promises, more and more workers must rely on their individual wealth to make up the difference.

The stock market collapse at the turn of the millennium wiped out much of the financial wealth of middle class Americans, and the collapse of the housing bubbles has wiped out much of their remaining wealth.

Making any cuts to Social Security now, either by raising the retirement age or cutting benefits, would have a huge impact on their remaining retirement income and are not necessary to “save the system

Social Security Q&A | Dollars & Sense

www.dollarsandsense.org

 

[Razoo]

Have opponents actually lied to the public about Social Security? ​

Yes. Former President George W. Bush repeatedly claimed that those who put their money in private accounts would be “guaranteed a better return than they would receive from the current Social Security system.

But every sale of stock on the stock market includes the disclaimer: “the return on this investment is not guaranteed and may be negative” for good reason.

During the 20th century, there were several periods lasting more than ten years when the return on stocks was negative.

After the Dow Jones stock index went down by over 75% between 1929 and 1933, the Dow did not return to its 1929 level until 1953. In claiming that the rate of return on a stock investment is guaranteed to be greater than the return on any other asset, Bush was lying. I

f an investment-firm broker made this claim to his clients, he would be arrested and charged with stock fraud. Michael Milken went to jail for several years for making just this type of promise about financial investments.

Former President Bush also misrepresented the truth when he claimed that Social Security trustees say the system will be “bankrupt” in 2042. Bankruptcy is defined as “the inability to pay ones debts” or, when applied to a business, “shutting down as a result of insolvency.”

Social Security Q&A | Dollars & Sense

www.dollarsandsense.org

 

[Razoo]

If the trust fund went to zero, Social Security would simply revert to pay-as-you-go. It would continue to pay benefits using (then-current) tax revenues, and in doing so, it would be able to cover about 70% of promised benefit levels. The system won’t be bankrupt in any sense. On this point, President Bush was “consciously misrepresenting the truth with the intent to deceive.” That is what the dictionary defines as lying.

Former President Bush claimed the trust fund is just a bunch of government IOUs and therefore worthless. Is this true? ​

The trust fund does just contain IOUs, but they’re not worthless. If they are, someone should tell that to the very smart and very rich people, and the central banks of Japan, China, and many other countries that hold a large share of their assets in U.S. government bonds.

When the trust fund was created in 1935, the law stipulated that any excess revenues coming into the Social Security system must be used to purchase federal government bonds. (At the time, the stock market had just lost over 75% of its value and was understood to be unsafe.)

Federal bonds are absolutely safe; the government of the United States has never defaulted on any bond obligation.

Former President Bush appeared to be ready to break this tradition. He appeared to want the Treasury to “selectively default” on the bonds in the Social Security trust fund.

He obviously felt the United States doesn’t have to meet its obligation to the working people of America the way it meets its obligations to ultra-wealthy bondholders.

His suggestion that the U.S. government might not be willing to repay its debt obligations was remarkable and for a time completely disrupted global financial markets.

Social Security Q&A | Dollars & Sense

www.dollarsandsense.org

 

[NatMorton]

In truth, spending during the Obama administrations spending grew slowly, while it jumped during the Trump administration and in conjunction with the tax cuts for the very wealthy, led to 7.6 trillion dollars in deficit spending. Now they want to act like the saviors of the nation when this is all for political purposes.

Unfortunately, you're right, and it goes back further than Trump when you look at the spending record of the GOP while in power in the 2000s. When given the chance, Republicans have proven to spend just like Democrats.

We so desperately need real change -- i.e. real fiscal restraint -- in Washington.

 

[Razoo]

The fallacy of the GOP spending like drunken sailors has never been a fallacy it is just that their reckless spending never pays back thus they borrow from Wall Street Banks to cover the loss in revenue. Thus it appears as though their reckless spending has not a negative impact EXCEPT the growth of debt. Wall Street banks love this massive mismanagement.​

 

[SNOWFLAKE]

Somebody needs to clean up America's out of control spending. Doesn't seem like the (D) are going to step up to the plate so that only leaves the (R).

This is how it works in reality:

When you are the party in power, spend spend spend.
When you are the party not in power, whine about spending.

I hope that clears it up for you.