Bernanke to Congress: We're Much Closer to Total Destruction Than You Think

[achilles28]

Quote from Brass:

Higher taxes and spending cuts are the only thing that will work. Anything else is pure ideology, on either side. What do you propose?

As I noted in another thread to you a few minutes ago, remember the rates under Clinton or even Reagan?

Refresh my memory. Get at me with numbers, dude. What are you proposing? As for Regan, that old coot was deficit spending like a mofo. This is all time-series crap. Very difficult to isolate causality for any one variable, among a multitude, in an uncontrolled series (such as a real life economy). But in simple terms, if the deficit more than offset the tax hikes, economic growth would result, even though the tax hikes were wealth destructive. One papers over the other.

 

[achilles28]

Quote from Ricter:

Of course, unemployment is still about the same.

So how is Government consumption declining if spending is the same?

 

[nutmeg]

Pffftttt.

If Bernanke thinks Congress will respond to a concise 500 word summary he has plenty to learn talking to Congress.

If you want to get Congress to act he needs somewhere between 2 and 6 thousand pages he can read into the record in an empty chamber.

Frankly did anyone ask Bernanke what he thinks?

The honey badger doesn't give a shit.

 

[Ricter]

Quote from achilles28:

So how is Government consumption declining if spending is the same?

Do you mean, how can the budget deficit remain the same if expenditures are falling?

 

[Brass]

Quote from achilles28:

Refresh my memory. Get at me with numbers, dude...

http://www.rgj.com/article/20110421...ama-than-under-Reagan-Clinton-?nclick_check=1

http://politics.gather.com/viewArticle.action?articleId=281474977623449

And as I mentioned in the other thread:

Quote from Brass:

You are correct as it relates to Reagan. His economic engine ran on deficit spending, which most Republicans are hard pressed to admit. I just mentioned the rates during his administration, since I don't recall most Rightsters complaining about them. As for Clinton, he handed W a functional budget surplus, on higher rates than are presently the case.

But you still didn't advise what you would do. What do you propose?

 

[achilles28]

Quote from Ricter:

Do you mean, how can the budget deficit remain the same if expenditures are falling?

I'm not sure what I mean, since im not sure what you mean.. Off to bed. Gnight.

 

[rew]

Quote from Ricter:

Do you mean, how can the budget deficit remain the same if expenditures are falling?

Some states have been bludgeoned by reality into making real cuts in spending. But if you think the federal government has cut spending, please tell us where. Our congressmen have fits over the prospect of simply slowing the growth in the spending. They never, ever, actually cut it.