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US Budget Deficit Shrinks 35 Pct. From Last Year - ABC News
Now can someone explain why we supposedly need more government spending cuts?
http://abcnews.go.com/m/story?id=20239284
Now can someone explain why we supposedly need more government spending cuts?
US Budget Deficit Shrinks 35 Pct. From Last Year - ABC News
Now can someone explain why we supposedly need more government spending cuts?
We can borrow from future generations just like Detriot did, no problem at all.
Detroit is not monetarily sovereign.... I swear, sometimes i really wonder.
Why would we need more taxes on the wealthy?
Then, by all means, let's borrow/print our way to prosperity.
Who has been the main beneficiary of government policy the past five years?
Hint: Vanguard total stock market index
MSCI world index:
So there is no need to raise taxes since the deficit is shrinking then other than penis envy?
We can also look to the fact that wealth inequality is at levels last seen during the roaring 20's. Fiscal policy is an effective tool at combating both wealth inequality and wealth immobility.
I have been discussing this development since the beginning of summer 2013. Apparently, we need more spending cuts to ensure a recession occurs at just the right time to push deficits back into 10% of GDP territory. That way, the opposition party does not look like a bunch of buffoons for their doom and gloom predictions.
Hyperinflation didn't happen.
Dollar crisis never occurred.
China/Russia/ME did not drop all their bond holdings on the market.
The government is still able to borrow at historically low rates of interest.
Who has been the main beneficiary of government policy the past five years?
Hint: Vanguard total stock market index
MSCI world index:
Yep. Like I thought--penis envy
High concentrations of wealth among the few leads to continued rent-seeking. It is in these environments where the casino mentality takes hold of asset markets. The rest is... well history.
I don't know that we need lower government spending. We probably just need wiser government spending.
The USG created trillions of dollars to finance the past deficits. Had this money circulated, we would indeed have had inflation.
So, where is this money? You answered the question. The stock market which represents the wealthy. So, very few people have become fabulously wealthy.
Banker pay virtually no interest for the money they use to puff up stocks while the citizens are still paying 20% or more interest on their borrowings. Income
Does not matter. As long as poor people are willing to buy $200 shoes and $500 telephones, you are not going to change to trend by redistributing taxable income. There is a difference between capital income and labor income. Discourage capital investment and you will destroy labor income. It is that simple.
Agreed. However, it is impossible to get a wise consensus. I believe the war on drugs is a terrible waste of both resources and humanity as a whole (not even considering the terrible externalities that result, e.g. black market cartels).
Nope! Increasing bank reserves all but eliminates the risk of insolvency. The type of monetary velocity necessary to invoke a general rise in prices could not exist in an environment where credit easing is a necessity. The problem is, money is not circulating and hence we need to put a floor under asset prices. The relationship between deflation and default is well established, e.g. repaying loans with with specie whose purchasing power increases.
People are just now recouping (in nominal terms) the wealth they lost between 2007 and 2009.
What??? Regarding your link:
US Budget Deficit Shrinks 35 Pct. From Last Year - ABC News
Now can someone explain why we supposedly need more government spending cuts?
US Budget Deficit Shrinks 35 Pct. From Last Year - ABC News
Now can someone explain why we supposedly need more government spending cuts?
We can borrow from future generations just like Detriot did, no problem at all.
Then, by all means, let's borrow/print our way to prosperity.
Because there is still a deficit? And a huge debt to repay?
That's the burden. What were the benefits?
1. Avoidance of a complete economic collapse cooked up by Bush's failed economic policies.
2. A shortening of the recession so more people could go back to a productive life than would have without deficit spending.
3. Investment in infrastructure, education and health care that will increase productivity in the future (or at least avoid the huge erosion of productivity if we had not borrowed).
4. All at extremely low interest rates.
That's the funny thing about conservatives: they only look at the burden of deficits, not the benefits. It's not funny, actually; more like stupid and disingenuous.
US Budget Deficit Shrinks 35 Pct. From Last Year - ABC News
Now can someone explain why we supposedly need more government spending cuts?
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