Take a good look where spending leads.

[pspr]

Quote from Lucrum:

Easy, take away voting privileges from the parasite/entitlement/welfare/affirmative action class. There is NO other way.

That's an interesting concept. If one should receive welfare, food stamps or any other government entitlement payment that didn't require you paying into a program like Medicare or Social Secuity, you lose your vote for the next 12 months.

Makes sense to me. But then so does securing the border and deporting illegal aliens.

 

[Ricter]

Quote from RCG Trader:

Well that is your opinion. Please stand aside, and lick you wounds in the shadows.

My last post to you.

Now, Tsing. How do we land this plane? Ricter? AAA?

We gradually slow the rate of government spending growth until it's at a comfortable level at GDP X (which keep in mind is also typically growing). We also gradually raise revenue, via taxes and growth, until it's at a reasonable level at GDP X. Thus, deficits and debt fall. But we should never again employ the methods of, say, a Reagan or a Bush, i.e., lowering taxes and increasing spending--bad outcomes follow.

 

[RCG Trader]

Quote from Ricter:

We gradually slow the rate of government spending growth until it's at a comfortable level at GDP X (which keep in mind is also typically growing). We also gradually raise revenue, via taxes and growth, until it's at a reasonable level at GDP X. Thus, deficits and debt fall. But we should never again employ the methods of, say, a Reagan or a Bush, i.e., lowering taxes and increasing spending--bad outcomes follow.

You do know Tsing will be here shortly, right?

This like a Godzilla vs. Gamera movie

Man, I love Godzilla when I was young!

Anyways, to take Tsing side on this post, we must land the plane without it reaching terminal velocity. I believe we have already reached terminal velocity. How can you slow us down?

 

[Ricter]

Quote from RCG Trader:

You do know Tsing will be here shortly, right?

This like a Godzilla vs. Gamera movie

Man, I love Godzilla when I was young!

Anyways, to take Tsing side on this post, we must land the plane without it reaching terminal velocity. I believe we have already reached terminal velocity. How can you slow us down?

This year's budget deficit is expected to be $900 billion, a significant improvement. I believe our debt/GDP ratio is also coming down, no data at hand at the moment (but who needs it, that's just "fact checking").

 

[Tsing Tao]

Quote from Ricter:

You do the same. But you don't leave threads because you have to have the last word.

I leave lots of threads. I'll happy yield a point to you, if you ever make a salient one.

 

[Tsing Tao]

Quote from Ricter:

We've been in debt for nearly our entire history. Which you don't study, apparently.

We have. But not with this many takers and so few givers (which is the same in Greece and the point of the thread).

 

[Tsing Tao]

Quote from Ricter:

Austerity, being anti-Keynesian, will be good for us though, right? You should be cheerful, instead you're the opposite.

Austerity isn't "anti-Keyensian" or Austrian or anything else. It is a forced policy imposed as a result of Keynesian following. I'm neither cheerful or gloomy. I no longer give a damn and am preparing accordingly. But I will take some small, hollow satisfaction when it comes to pass and those who advocated going down this path cause the ruin they have sowed.

 

[Tsing Tao]

Quote from RCG Trader:

Okay, so who will argue that point? We are past the Event Horizon. Everyone who is aware knows this. We should be talking about how to land the plane.

There's no more landing of any plane. There is only preparing for the crash landing, and this is done at the individual level. The intent of my OP was to show the risk of extremist behavior that will come from where we are going. That's all.

 

[Tsing Tao]

Quote from Ricter:

We're already in austerity, by the way. Government spending is coming down, and rising taxes are next. It appears we can manage it, the deficit for 2013 is expected to be $900 billion, a significant improvement. The sensible objections out there are to trying to do too much too quickly.

Having a deficit of $900 billion is NOT austerity. Even if you taxed your arch enemies the"rich" some 88%, you still wouldn't close that but $150B or so. And this doesn't remove the massive overhang of debt, nor consider future obligations to entitlements.

 

[Ricter]

Quote from Tsing Tao:

Having a deficit of $900 billion is NOT austerity. .

It is when it's been much higher.