former reagan and bush 1 economic advisor.much of debt due to bush tax ccuts

[Free Thinker]

The Real U.S. Budget Problem: Defense & War Spending Equal 94% Of All Federal Income Tax Revenues

In 2010, the US government collected $898 billion in federal income tax revenues. The same year, we spent $847 billion on useless wars and national defense. That means that 94% of all federal income tax revenue is equivalent to what we spend on the Pentagon. Who out there thinks it was money well spent?

 

[Ricter]

Quote from bone:

The state should go ahead and confiscate everyone's 401K plans and IRAs. Forward, Comrade ! Workers of the world unite !

Lol

Still, some of these kinds of things clearly work.

A dream of mine is to start up one of these:

http://en.wikipedia.org/wiki/Worker_cooperative

 

[bone]

The Tea Party is obstinate, principled to a fault (ask Boehner), and absolutely singular in it's message: stop spending money you don't have.

Regardless of your political stripes, the lucid conclusion is that they have completely changed the dynamic in Washington and the MSM towards spending.

The TP has essentially told both political parties to go F themselves.

It would be healthy for the political system if you guys could clone Bernie Sanders into a 'party' or group.

Where everyone sees a disaster, I see this as the freshest sign of health in my Republic in a long time. If one group has managed to put both MSNBC and Fox into a gobsmacked tailspin, then in my mind this is good.[/b]

Ricter, please create a really really far-lefty analog to the Tea Party. It would be very healthy for our Republic. Stat, please.

 

[g222]

Good point, Freethinker, but the REAL problem is BORROWING for defense spending - or any other spending you can think of.

 

[Ricter]

Quote from bone:



Ricter, please create a really really far-lefty analog to the Tea Party. It would be very healthy for our Republic. Stat, please.

Can't be done in this country. There, I've gone and admitted some hopelessness.

 

[bone]

Quote from g222:

but the REAL problem is BORROWING for defense spending - or any other spending you can think of.

That is the ultimate distillation.

It would appear that GW Bush and BH Obama are both very good on the expense side of the ledger. Spending a trillion on Iraq or spending a trillion on union road construction workers is still a trillion. The trillion is a trillion is a trillion.

Continuing to spew the party line is quite frankly too simple and in fact is boring.

 

[bone]

Quote from Ricter:

Can't be done in this country. There, I've gone and admitted some hopelessness.

I've been saying way before that dopey Ed Schultz: Replicate the German manufacturing model. Only plausible way to grow a progressive social democracy agenda in the United States. The dollar is where it needs to be. Lots of idle brain power in NASA and the National Labs.

Obstacle: the current administration's relationship with trade unions. You need to grow the manufacturing first and then introduce the unions. Any legislation promoted by the Democrats will certainly demand unionized manufacturing as a precursor demand, which of course is a non-starter politically. Can the Dems eat those peas ?

 

[Ricter]

The real problem is not being able to borrow for war. If the other guy can, and you can't, you're dead. This is why the debt ceiling amendment to the Constitution idea must die (and follow the gold standard to the ash heap of history).

 

[bone]

Quote from Ricter:

The real problem is not being able to borrow for war. If the other guy can, and you can't, you're dead. This is why the debt ceiling amendment to the Constitution idea must die (and follow the gold standard to the ash heap of history).

I was under the strong impression that there were unilateral triggers for executive flexibility for extended and Congressionally approved military adventures.

Hey, something like 47 States have a BBA, and it is effective. In fact, Indiana (a BBA state) has something like a $1.5 B surplus - Daniels approved performance based bonuses for state workers.

I would profer to you that if the Congress had passed the BBA in 1997 (fell short by one vote) that things would be different. I mean, look where we are now - an administration with majority power who operated without a budget for something like 800 days. That is just wrong.

Surely GW would have been compelled to make some serious spending and revenue decisions during his administration.

 

[Ricter]

Quote from bone:

I was under the strong impression that there were unilateral triggers for executive flexibility for extended and Congressionally approved military adventures.

Ok, good.