Obama Howls at the Moon

[dbphoenix]

Fixed.

 

[Tsing Tao]

You're probably another one who believes, "deflation, no problem!"

Please tell us how price deflation is a problem to ordinary citizens who have been fiscally responsible.

 

[Tsing Tao]

Canada does not have a balanced budget law. It regularly gets proposed at the federal level and never passed.

Canada set to introduce balanced budget law
http://ca.reuters.com/article/businessNews/idCABREA0D0UJ20140114

I seem to recall Canada sending checks to it's citizens because of a surplus. Or was that just Alberta?

 

[Tsing Tao]

This country hasn't been out of debt since 1835. And we've flourished. Maybe we could have done better, but at least we know deficits and debt don't prevent success.

I don't know about Canada, but if it does it's failing at it, and it looks to get worse.

That's right, debt never matters. Until it does.

Eventually you find the limit to everything.

 

[Ricter]

Please tell us how price deflation is a problem to ordinary citizens who have been fiscally responsible.

They lose their job.

 

[gwb-trading]

I seem to recall Canada sending checks to it's citizens because of a surplus. Or was that just Alberta?

That would be provinces with some type of surplus.

Don't get me started on the Canadian Equalization nonsense where provinces with surpluses must pay provinces with deficits money each year (for example Quebec is a basically a welfare state and sucks in tons on money).

 

[Ricter]

That's right, debt never matters. Until it does.

Eventually you find the limit to everything.

By the way, PK never said "debt doesn't matter".

 

[Ricter]

That would be provinces with some type of surplus.

Don't get me started on the Canadian Equalization nonsense where provinces with surpluses must pay provinces with deficits money each year (for example Quebec is a basically a welfare state and sucks in tons on money).

The US does the same. If it didn't, much of the South would have been abandoned a century ago.

 

[gwb-trading]

The US does the same. If it didn't, much of the South would have been abandoned a century ago.

The U.S. does not do the same. The U.S. does not say - "Hey Alaska you are a mineral rich state and you need to directly pay a portion of the taxes you collected to all the poor states each year." No, the US does not work like that. Equalization is very different than federal spending.

And let me add that if you try to pull out the nonsense that Red states are welfare states and blue states are not. --- then I will pull out the USA Today article again that does the math & shows this assertion is complete nonsense.

 

[Ricter]

The U.S. does not do the same. The U.S. does not say - "Hey Alaska you are a mineral rich state and you need to directly pay a portion of the taxes you collected to all the poor states each year." No, the US does not work like that. Equalization is very different than federal spending.

And let me add that if you try to pull out the nonsense that Red states are welfare states and blue states are not. --- then I will pull out the USA Today article again that does the math & shows this assertion is complete nonsense.

No, it's not exactly the same as Canada.