The Debt Crisis

[Acro]

New taxes that affect the richest 2% that make 90% of the revenue sounds like a great idea to me. Funny how republicans don't want to lose their lobbying of Big Oil.

[Raider]

when neither side has presented a real solution. Neither side has addressed the entire deficit let alone the debt which climbs ever higher every single second.

NOT True.. If you read the House Bill that was recently passed, it has plenty of solutions that address the DEBT and Deficit spending... Unfortunately your Boy threatened to Veto the bill if it passed the Senate, Obama just doesn't want anything holding him back from spending another 3 or $4 Trillion before he booted out of office in 2012.

---------- Post added at 10:12 PM ---------- Previous post was at 10:09 PM ----------

New taxes that affect the richest 2% that make 90% of the revenue sounds like a great idea to me. Funny how republicans don't want to lose their lobbying of Big Oil.

They did a study that showed that even if you Taxed the Richest 2%, it would barely put a dent in the National Debt.. History has shown that when you TAX, Government always take in LESS money. You should know that.

[whitebark]

They did a study that showed that even if you Taxed the Richest 2%, it would barely put a dent in the National Debt.. History has shown that when you TAX, Government always take in LESS money. You should know that.

THEY did eh?

Back in the real world... where taxing less brings in less, three straight decades America has played the tax cut game and where are all those burgeoning government coffers Raider? Reagan, Bush and Bush The Lessor all paid down the national debt didn't they with all that extra money. Oh wait a minute...

Canada faced a debt crisis during the 90's. The government was saddled with crushing debt left over from a conservative government (sound familiar?) and cut all facets of spending from the military to health care - Canadians were pissed but we understood why we ALL had to sacrifice for the greater good. They ALSO RAISED TAXES on all income levels and corporations. Within a few short years the deficit was gone, budget surpluses were rolling in and the national debt was paid down every year over the next decade. Within a couple years government coffers were so full they started to cut those new taxes and started to restore prior funding to cut programs.

That placed Canada onto the top of the G8 in terms of economic health. It allowed Canada to weather this current recession better than any other g12 nation - we didn't have no housing crisis nor banks closing. Our banks are busy buying other banks and real estate is at record levels today! Damn liberal policies!

But it's better to put on that broken rightwing record and listen to those tired old tunes only they can play...

Raider you are like a broken record whose only function is to repeat rightwing claptrap. The ultra-wealthy thank you for your blind partisan patronage in these tough times and with a few more useful idiots they can get through this without paying single red cent more to support the very nation that helped them get rich in the first place.

[Acro]

BP posted record revenue of $5.8 billion dollars today.

---------- Post added at 02:03 PM ---------- Previous post was at 02:00 PM ----------

They did a study that showed that even if you Taxed the Richest 2%, it would barely put a dent in the National Debt.. History has shown that when you TAX, Government always take in LESS money. You should know that.

The National Debt will always be there, it's a wild goose chase in every nation. It's just comes as a shock realizing that America isn't the richest country in the world but it's governed by an elite system that regulates how the wealthy are taxed. About taxes, you're right: the IRS held my tax return for 3 months this year prior to releasing the funds. At least, I received interest.

[Gerry]

Rock, scissors, paper...

---------- Post added at 02:18 PM ---------- Previous post was at 02:14 PM ----------

At least, I received interest.

When you hear "they did a study...", consider this:

They said decreasing taxes would put more money into the economy - it did not
They said decreasing taxes would create more jobs - it did not
They said they still need the Bush era tax breaks - they got it
They said keeping the Bush era tax cuts would put more money into the economy - it has not
They said keeping the Bush ear tax cuts would create more jobs - it has not

[Raider]

Canada faced a debt crisis during the 90's. The government was saddled with crushing debt left over from a conservative government (sound familiar?) and cut all facets of spending from the military to health care - Canadians were pissed but we understood why we ALL had to sacrifice for the greater good. They ALSO RAISED TAXES on all income levels and corporations. Within a few short years the deficit was gone, budget surpluses were rolling in and the national debt was paid down every year over the next decade. Within a couple years government coffers were so full they started to cut those new taxes and started to restore prior funding to cut programs.

That's the Canadian system, Population what? 34 Million compared to 311 Million in the US?

What works in Canada wont always work here in the US... When the US Government raises taxes, they ALWAYS spend more, Everyone knows this... You being a Canadian Liberal who expresses his ignorance on the way our Government operates, wouldn't know that.

But it's better to put on that broken rightwing record and listen to those tired old tunes only they can play...

Raider you are like a broken record whose only function is to repeat rightwing claptrap

I'm like a broken record?

Do you ever stop and read what you write?

I actually have to agree with you on this one Whitebarf.. I do beat the same drums over and over on the economy, but I do it for a good reason, your just to blind to figure it out.

Canadians were pissed but we understood why we ALL had to sacrifice for the greater good.

Does the "ALL" include the 24,000 Canadians who move to the US each and every year?

And I take it the "Greater Good" does not include paying $5.50 at the USA/Canadian border;
http://www.dnforum.com/f254/obama-wa...ad-447935.html

Hey, if I was taxed as much as you Canadians are, I'd probably b*tch about that $5.50 too.

[Acro]

No wonder has the best healthcare system in the Northern hemisphere.

[Gerry]

Breaking News:

Boehner is going to have to rewrite his bill.

The CBO claims that it does not cut enough to match his pledge.

At best, it only eliminates $850 billion OVER 10 Years!

10 Years? I thought we were in a crisis.

And people want to talk about the dems passing the buck???

We are no longer in the billions. We are in the trillions and it has gone up unchecked since 2000.

In 10 years time, what is 85 billion per year going to buy?


Well, it's back to the drawing board. Guess John and his lobby buddies are going to huddle up tonight and have a sleepover.

[Raider]

I don't see how anyone in their right mind can justify this kind of BORROWING;



$4.1 BILLION dollars a day and your making all kinds of excuses for it?

You really are a bunch of drones.

No wonder has the best healthcare system in the Northern hemisphere.

I'm sure Liam Neeson would disagree with you.

[Gerry]

Right, even Bush didn't borrow...

well, actually, not only did he borrow heavily (debt ceiling raised 7 times), he didn't pay for shlt (2 wars unfunded, prescription med plan not paid).

I would imagine that had Bush paid for what he ran up in debt (and passed on), instead of being 11.2T when he left office it would actually be more in the range of $15-16T.

[500,000]

Tax the wealthy corporations RELATIVELY to their wealth. The oil industry, for example, makes astonishing profits on the backs of everyone else. Why are groceries expensive at the store? Because transportation requires gas, that is controlled by Exxon, BP and the rest of the blood suckers. The Republicans don't want to do this, so why blame Obama for wanting to tap the wealthy? Money cannot be printed forever.

Democrats own a lot of big business all over the world. I really don't think they want to Tax the Rich because they are the rich and just messing with your thoughts when they play that card.

[Gerry]

I get a big kick out of accusations by GOPer's that the dems are the party of spend, spend, spend.

Recent deficit/debt history charts clearly show that the GOP is the party of spend, spend, spend and do not pay back.

Seriously, where did the 3 Trillion go that Bush needed when he raised the ceiling in Sept. 08?

We were in the middle of a financial meltdown and the ceiling was raised by nearly 3 Trillion. By the time he left office, that 3T was gone! Poof! Vanished. 750B went to banks that did not need the money. So we're still looking for 2.25T.

I have yet to see where that money went, how it stablized anything, how it saved the country, how it benefited the person on the street or the middle class. What I did see is GOP people refusing to use the R word (recession) and not even acknowledging the dire straits this country is in.

So, where did that 3T go? It certainly did not do squat for the economy or the job market. Both were in a nosedive in September 08 and continued on through the next couple of years.

Where's my 3T?

[lordbyroniv]

I know we are close to the end when DNF.com is discusiing the end of the great Keynesian experiment on a regular basis

Buckle up campers

We ain't in Kansas any more

[Raider]

DocCon wants you to believe the President had the authority to raise the debt ceiling when Bush was President, but when Obama became President, only the congress has that authority.... That's the spin.

Most of use can recall the countless times DocCon complained about the debt ceiling being raised, blaming those bad Bad Republicans for raising it, and here is blasting those SAME Republicans for NOT raising it..

Do you ever get the feeling Doc argues just for the purpose of arguing?

I've never known anyone who argues with himself as much as he does.

Right, even Bush didn't borrow...

well, actually, not only did he borrow heavily (debt ceiling raised 7 times),

I see, Bush raised the debt ceiling 7 times and Obama cant raise it once. .. Who are trying to sell this Bullsh*t to, retarded people?

Seriously, where did the 3 Trillion go that Bush needed when he raised the ceiling in Sept. 08?

Sept. 2008? hmmm

You'll have to ask Nancy Pelosi and Harry Reid that question, it was the Democratic party, YOUR PARTY that controlled both houses of congress that year, and the year BEFORE and the year AFTER.

If we had the Tea Party in one of those chambers in 2008, like we have now, It would of never happened OR it would of included substantial cuts in spending.

Cuts that Dems just DON'T do.