REPUBLICANS YANK OBAMACARE REPEAL BILL

[Max E.]

Every country in the G7 saw their budget deficits shrink in the 90's due to the tech bubble, its not rocket science, the late 90's was just a short term reprieve where an overheated economy masked the long term structural problems with all of our countries, which is that government is spending too much too quickly based on growth numbers we cant keep up with.

The amount all Western countries owe in unfunded liabilities is off the fucking charts, because government has the tendency to think linearly, i.e. If we were growing at 3% this year we will always grow at 3% so lets create pensions, and social security, and healthcare actuarial numbers base on that logic.

Well problem is robots are now displacing people, as is offshoring, which leads to us no longer having many kids because we dont make enough money to afford them, etc... etc.... and all of a sudden the whole house of cards comes falling down, not enough people paying into the system to support the cheques they wrote years ago. So now the only solution is to slowly inflate the standard of living away, or worse, make an idiotic decision like Sweden or Germany and bring a bunch of third world low skilled peasants in, who we dont need, (since most low skill labour will be automated in 10 years.) In order to keep supporting the ponzi scheme, a decision that only compounds the problem since these people inevitably take more from the system than they contribute.

This whole thing is a GOVERNMENT PROBLEM regardless of party the government makes decisions based on wildly innaccurate assumptions in order to keep paying themselves, and it wont end, only think you can do is limit the damage.

No, Bill Clinton Didn’t Balance the Budget
By Stephen Moore
October 8, 1998
Let us establish one point definitively: Bill Clinton didn’t balance the budget. Yes, he was there when it happened. But the record shows that was about the extent of his contribution.

Many in the media have flubbed this story. The New York Times on October 1st said, “Clinton balances the budget.” Others have praised George Bush. Political analyst Bill Schneider declared on CNN that Bush is one of “the real heroes” for his willingness to raise taxes — and never mind read my lips. (Once upon a time, lying was something that was considered wrong in Washington, but under the last two presidents our standards have dropped.) In any case, crediting George Bush for the end of the deficit requires some nifty logical somersaults, since the deficit hit its Mount Everest peak of $290 billion in St. George’s last year in office.

And 1993 — the year of the giant Clinton tax hike — was not the turning point in the deficit wars, either. In fact, in 1995, two years after that tax hike, the budget baseline submitted by the president’s own Office of Management and Budget and the nonpartisan Congressional Budget Office predicted $200 billion deficits for as far as the eye could see. The figure shows the Clinton deficit baseline. What changed this bleak outlook?

Newt Gingrich and company — for all their faults — have received virtually no credit for balancing the budget. Yet today’s surplus is, in part, a byproduct of the GOP’s single-minded crusade to end 30 years of red ink. Arguably, Gingrich’s finest hour as Speaker came in March 1995 when he rallied the entire Republican House caucus behind the idea of eliminating the deficit within seven years.



We have a balanced budget today that is mostly a result of 1) an exceptionally strong economy that is creating gobs of new tax revenues and 2) a shrinking military budget. Social spending is still soaring and now costs more than $1 trillion.

Skeptics said it could not be done in seven years. The GOP did it in four.

more at link...

https://www.cato.org/publications/commentary/no-bill-clinton-didnt-balance-budget

 

[Tony Stark]

You really do have to be delusional to think that the party whose goal is cutting government somehow spends more money than the party who thinks government cures all ills.

But its Republican Presidents that leave with office with higher deficits than they came into office with.A common cause for those deficits is tax cuts and massive defense spending increases,same thing Trump is about to do.

Obama and Clinton raised taxes and didn't increases defense spending much and left office with a surplus and smaller deficit

 

[piezoe]

Seems pretty partisan to stack all of America's problems on republicans.

Gee, I hope that remark is not meant for me. Could you possible find the remainder of that chart through 2016? That would be interesting, wouldn't it?

 

[Max E.]

But its Republican Presidents that leave with office with higher deficits than they came into office with.A common cause for those deficits is tax cuts and massive defense spending increases,same thing Trump is about to do.

Obama and Clinton raised taxes and didn't increases defense spending much and left office with a surplus and smaller deficit

No point even having this debate if you are unwilling to be realistic, i just showed you pictures of every state and province in northamerica, the only commonality among the ones with the most debt is that they are all very liberal, while the ones with the least debt are very conservative.

The deficit exploded in 2007 when pelosi and the dems took control, it only started dropping again when republicans took both houses, there is no doubt Bush was a big spender, and he was responsible for rubber stamping democrats ideas after 2007, no argument from me, Bush was a big government shit head, but to try to claim Obama was a fiscal hawk just tells me there is no point in having the conversation, the guy chalked up more debt than every single president before him combined, while liberal economists like that douche Paul Krugman encouraged him to spend even more, cause it was supposedly going to grow the economy.

Seems kind of like the people who try to claim Obama's policies led to job creation, when it was the worst recovery in modern history, yet when Trump proposes to do the total opposite of him, the stock market sky rockets, when we are already at the tail end of an 8 year fed induced bull market, even the proposition of leeaving obamacare in place has now caused the market to shed a few trillion dollars in a week, but hey wallstreet must not know what leads to growth, i guess higher taxes and lots of regulations is the real ticket, they just have it wrong.

No point in debating if you cant start from a point that deals in reality.

 

[Max E.]

Gee, I hope that remark is not meant for me. Could you possible find the remainder of that chart through 2016? That would be interesting, wouldn't it?

I used to have it but cant find it on google images, but basically the deficits plummetted the second Republicans took back both house of congress.

 

[Tony Stark]

but to try to claim Obama was a fiscal hawk just tells me there is no point in having the conversation, the guy chalked up more debt than every single president before him combined.

So did Reagan and Bush and likely Trump if he gets 2 terms.

 

[Max E.]

So did Reagan and Bush and likely Trump if he gets 2 terms.

Only time the debt as a percentage of GDP has stayed neutral or dropped in the last 40 years was when republicans controlled both houses.

 

[Tony Stark]

, Bush was a big government shit head, but to try to claim Obama was a fiscal hawk just tells me there is no point in having the conversation,

Too say that Obama is a big spender is not accurate imo.The only major Obama spending was the stimulus,which was due to a wreaked economy that he did not wreak and Obamacare which is partly paid for with increased taxes and has not added much to the debt.

Obamas other debt is from Bushs tax cuts,Bushs wars,Bush doubling military spending and Bush medicare expansion which unlike Obamacare he didn't even attempt to pay for.

Obama even fixed some of the financial mess that Bush left by stopping the military spending increases that Bush doubled, ending the wars, ending some of Bushs tax cuts and brought the deficit down from 1.16 trillion to 441 billion.

 

[piezoe]

LOL, yeah Obama was a fiscal hawk, only added more debt than any president in history, he made Bush look like a piker, the deficit only exploded when Dems took large majorities in both the senate and the house, bush was a big spending moron, no doubt about it, but so was Obama.

But hey if you want to keep telling yourself that conservatives are the ones who are the big spenders, here is a heat map of the U.S. (Note the states with the most debt)

Here is a map of canada, note the provinces with the most debt. (Hint) Saskatchewan and Alberta are the 2 most conservative provinces in Canada, Ontario, Quebec, B.C. very liberal.

You really do have to be delusional to think that the party whose goal is cutting government somehow spends more money than the party who thinks government cures all ills.

Holy cow! I think you may have proved that high state debt can prevent teen pregnancy. Who knew?

 

[Tony Stark]

The deficit exploded in 2007 when pelosi and the dems took control,

The deficit exploded when the recession hit and tax revenues were far less than Bush expected but he had already committed spending to the expected higher tax revenues.

The less than expected tax revenues were from the Bush tax cuts passed while republicans were in control of congress.