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PostPosted: Sun Jul 08, 2007 4:33 pm    Post subject: Reply with quote

Hasdrubal wrote:
GET BUSH OUT!


Bush, forever!
Hasdrubal





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PostPosted: Sun Jul 08, 2007 8:07 pm    Post subject: Reply with quote

Winston2004 wrote:
Hasdrubal wrote:
GET BUSH OUT!


Bush, forever!

Especially if you like illegal immigrants.
mrsocko





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PostPosted: Sun Jul 08, 2007 10:07 pm    Post subject: Reply with quote

Quote:
3. Reign in government spending. Deficits are fine so long as they are financed internally. Currently, the US debt is largely being financed by China (a potential enemy).


As a % of GDP the yearly deficit is lower than in Reagans time. Their total overall deficit(all levels of government) is as of this year higher than Canada's (as a % of GDP). The deficit for this year(230 mill) was alot lower than projected.

If China holds the deficit and are a potential enemy could the U.S. just stop paying them if tensions rose between them?

Your right that it is a huge drain on their economy(money leaving the country).
Craig
Site Admin




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PostPosted: Sun Jul 08, 2007 11:04 pm    Post subject: Reply with quote

mrsocko wrote:
The deficit for this year(230 mill) was alot lower than projected.


230 billion not million.

Quote:
If China holds the deficit and are a potential enemy could the U.S. just stop paying them if tensions rose between them?


I've considered that too. Certainly if war broke out I'm certain the US would cease to recognize Chinese held debt. Perhaps it would be an incentive for China not to go to war with the USA - 1$ trillion is a lot of money!
JasonSkald





Joined: 08 Jul 2007
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PostPosted: Sun Jul 08, 2007 11:04 pm    Post subject: Reply with quote

mrsocko wrote:
Quote:
3. Reign in government spending. Deficits are fine so long as they are financed internally. Currently, the US debt is largely being financed by China (a potential enemy).


As a % of GDP the yearly deficit is lower than in Reagans time. Their total overall deficit(all levels of government) is as of this year higher than Canada's (as a % of GDP). The deficit for this year(230 mill) was alot lower than projected.

If China holds the deficit and are a potential enemy could the U.S. just stop paying them if tensions rose between them?

Your right that it is a huge drain on their economy(money leaving the country).


China actually finances a fairly small portion of the debt. Japan and the UK hold a lot of it, but the vast majority is still held by Americans. The problem with defaulting on debt payments (even to one's enemies) is that it's still defaulting, it will deter creditors from lending anything more to you.
PostPosted: Sun Jul 08, 2007 11:41 pm    Post subject: Reply with quote

Hasdrubal wrote:
Winston2004 wrote:
Hasdrubal wrote:
GET BUSH OUT!


Bush, forever!

Especially if you like illegal immigrants.


No, I like his tough stance on jihadists!
PostPosted: Fri Jul 13, 2007 4:28 pm    Post subject: Reply with quote

And here's more proof that Leftoids haven't a clue how the economy works. Tax cuts are an ENORMOUS success in the US - under the policy of President George W. Bush.

"Incredible Shrinking Deficit"

2004 - $413 billion
2005 - $318 billion
2006 - $248 billion
2007 - $205 billion

When you look at it as a percentage of GDP, the decline is even more striking:

2004 - 3.6%
2005 - 2.6%
2006 - 1.9%
2007 - 1.5%

http://www.nysun.com/article/58341
kwlafayette





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PostPosted: Fri Jul 13, 2007 5:16 pm    Post subject: Reply with quote

Has that economic ruin actually happened yet? How long can people predict something, without giving a date when it will happen, and still be believed?
Craig
Site Admin




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PostPosted: Fri Jul 13, 2007 6:36 pm    Post subject: Reply with quote

kwlafayette wrote:
Has that economic ruin actually happened yet? How long can people predict something, without giving a date when it will happen, and still be believed?


It is happening. I don't know if you are expecting a sudden one week collapse but I don't think that is what anyone is suggesting. The USA's economic might is eroding. When I say "collapse" I'm speaking in terms of decades. It is happening and it will continue to happen. Few economists on the planet would suggest that their current account is sustainable.
Craig
Site Admin




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PostPosted: Fri Jul 13, 2007 6:38 pm    Post subject: Reply with quote

Winston2004 wrote:
And here's more proof that Leftoids haven't a clue how the economy works. Tax cuts are an ENORMOUS success in the US - under the policy of President George W. Bush.

"Incredible Shrinking Deficit"

2004 - $413 billion
2005 - $318 billion
2006 - $248 billion
2007 - $205 billion

When you look at it as a percentage of GDP, the decline is even more striking:

2004 - 3.6%
2005 - 2.6%
2006 - 1.9%
2007 - 1.5%

http://www.nysun.com/article/58341


Yes. Just imagine if he wasn't spending money faster than Clinton. A leftist could easily argue that the deficit is falling because his massive increases in spending are stimulating the economy. The reality is that if he had contained non-military spending the USA would be in surplus now. He doesn't deserve applause.
biggie





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PostPosted: Fri Jul 13, 2007 11:40 pm    Post subject: Reply with quote

I don't think we're witnessing the collapse of the american economy at all...

I think we're watching it's incredible strength at work. Through everything, its still chugging on, weakened yes, but that is only to be expected at this time.
PostPosted: Sat Jul 14, 2007 12:09 am    Post subject: Reply with quote

Craig wrote:
Winston2004 wrote:
And here's more proof that Leftoids haven't a clue how the economy works. Tax cuts are an ENORMOUS success in the US - under the policy of President George W. Bush.

"Incredible Shrinking Deficit"

2004 - $413 billion
2005 - $318 billion
2006 - $248 billion
2007 - $205 billion

When you look at it as a percentage of GDP, the decline is even more striking:

2004 - 3.6%
2005 - 2.6%
2006 - 1.9%
2007 - 1.5%

http://www.nysun.com/article/58341


Yes. Just imagine if he wasn't spending money faster than Clinton. A leftist could easily argue that the deficit is falling because his massive increases in spending are stimulating the economy. The reality is that if he had contained non-military spending the USA would be in surplus now. He doesn't deserve applause.


He inherited a recession and he is doing a great job.

Did you see the NYSE figures today (13th of july)? US economy is strong, thankfully!
mbennett





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PostPosted: Sat Jul 14, 2007 2:01 am    Post subject: Reply with quote

Winston2004 wrote:
Craig wrote:
Winston2004 wrote:
And here's more proof that Leftoids haven't a clue how the economy works. Tax cuts are an ENORMOUS success in the US - under the policy of President George W. Bush.

"Incredible Shrinking Deficit"

2004 - $413 billion
2005 - $318 billion
2006 - $248 billion
2007 - $205 billion

When you look at it as a percentage of GDP, the decline is even more striking:

2004 - 3.6%
2005 - 2.6%
2006 - 1.9%
2007 - 1.5%

http://www.nysun.com/article/58341


Yes. Just imagine if he wasn't spending money faster than Clinton. A leftist could easily argue that the deficit is falling because his massive increases in spending are stimulating the economy. The reality is that if he had contained non-military spending the USA would be in surplus now. He doesn't deserve applause.


He inherited a recession and he is doing a great job.

Did you see the NYSE figures today (13th of july)? US economy is strong, thankfully!


Come on guys. A deficit is a deficit.

The Bush administration has had no plan to reduce the deficit, and has made no meaningful commitment to the reduction of the size of government.

Bush is not Reagan, don't support Bush blindly, Republicans are opting for a different type of conservativism all together.

Fiscal responsibility has been a huge part of conservative economic policy in Canada especially out here in the West. Bush's inability to make meaningfull cuts to the size of government, and his refusal to cut spending significantly along with his tax cuts will be his economic legacy. While Clinton may have left Bush with a recession but he also left Bush with a surplus. Bush should not let a single budget go through that isn't balanced. Your ability to control spending accordance to your tax revenue is what defines your economic policy, not the 'size' of your deficit. A real conservative would work hard to eliminate the deficit.

Bush's economic policy isn't the worse, but then again he isn't Reagan.
hamiltonguyo





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PostPosted: Sat Jul 14, 2007 9:31 pm    Post subject: Reply with quote

It doesn't have to do anything. If any major economy crashes the others would bail it out. Global Commerce is too interdependant.
truth4freedom





Joined: 14 Jan 2007
Posts: 255
Reputation: 23.7Reputation: 23.7
votes: 3
Location: Bible Belt USA!

PostPosted: Sun Jul 15, 2007 11:26 am    Post subject: Reply with quote

hamiltonguyo wrote:
It doesn't have to do anything. If any major economy crashes the others would bail it out. Global Commerce is too interdependant (sic).


The feds know this and that is why they spend like Paris Hilton on a coke binge. Until a sound economy becomes a security issue in the minds of our elected officials I don't see any real lasting change happening. Our Senator from Oklahoma, Dr. Tom Coburn has done an incredible job of fighting the earmark process in the Senate and I would like to mention another Senator, Dr. Ron Paul who has fought for fiscal reform and accountability. The GOP is just as bad or worse than the Dhimmicrats when it comes to this issue. We need a new generation of Congressmen and Executive branch representatives that understand the value of having a secure and debt free economy like Dr Coburn and Dr Paul to survive in the coming decades. We ignore it at our own peril and at the risk of our sovereignty.
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