Like a boss Ronald!

fuck Reagan and his cunty wife

Just keep raising taxes! Problem solved. We exist only to serve Almighty Government. It knows what's best.

>> ^quantumushroom:

Just keep raising taxes! Problem solved. We exist only to serve Almighty Government. It knows what's best.


Taxes have just gone down and down, at exactly the same time the debt went up and up.

If you want to solve the deficit, just put taxes back where they were under Clinton, and it's solved.

In any case, the debt ceiling shouldn't be used this way. It shouldn't even exist. If Congress wants to control the national debt, then it shouldn't pass budgets that spends more than it takes in.

Well said Ron Reagan


Are you suggesting that the debt ceiling is more if a political ceiling for the parties to use for convenience, as in this case to beat up democrats in this coming election cycle? Should there be a limit? Do you see a limit to the amount of debt that the USA can take on and still be fiscally responsible nation?

Are you implying that there is no accountability for the debt that is created by government?

>> ^NetRunner:

> In any case, the debt ceiling shouldn't be used this way. It shouldn't even exist. If Congress wants to control the national debt, then it shouldn't pass budgets that spends more than it takes in.



Why cant Videosift use teamspeak or the like.

>> ^bobknight33:

Are you suggesting that the debt ceiling is more if a political ceiling for the parties to use for convenience, as in this case to beat up democrats in this coming election cycle?

Yes and no. Yes, it's being used as a political weapon right now, and I think that's bad for everyone. But also no, I'm not saying the debt ceiling is some toothless measure that doesn't matter beyond politics. If this ends up with the country defaulting, it's going to be really really bad for everyone.

>> ^bobknight33:
Should there be a limit? Do you see a limit to the amount of debt that the USA can take on and still be fiscally responsible nation?

A hard legal limit in dollars that Congress needs to explicitly vote to change? No.

As a more general question, sure, there absolutely is such a thing as too much debt. But I tend to think of it as being a dynamic sort of thing. I think of total debt in terms of debt/GDP ratios -- we're at something like 40% right now. In situations where countries are at war and have an economic depression, a ratio of just over 100% isn't all that uncommon. We'll want to keep our deficits under control so that hopefully we peak under 80%, but the long and short of it is that right now I see zero need to worry about the deficit at all.
>> ^bobknight33:

Are you implying that there is no accountability for the debt that is created by government?

I think the real problem is that Republicans want deficits and debt to always be high. Essentially all of our debt comes from tax cuts, starting with Reagan. Before Reagan, we'd been paying down our debt for decades. Clinton balanced the budget and got us running surpluses again, and Bush slashed taxes to get and keep us in deficit.

At the end of a 30-year plan to borrow money, and give it to the rich in tax cuts, we now have the people who got us in this mess screaming "it's out of control spending!" They then demand cuts in "spending," which means reneging on the benefits owed to people who've paid into Social Security and Medicare all their lives, but won't get because all the money in the trust fund (and then some!) got shipped off to the top 1% of income earners in tax breaks.

So no, there's no accountability on debt, because people believe the lies they're told about how we got where we're at.

Even with tax loopholes and workarounds (also used by Obama's personal propaganda corporation MSDNC--15 billion profits, no taxes paid) the wealthy pay the lion's share of taxes in America. The idea that the System is somehow catering exclusively to the well-to-do is preposterous, especially when the "bottom" 50% pay NO income tax.

Tax cuts themselves don't cause problems, spending above and beyond the additional revenue brought in by tax cuts cause problems. Both sides overspend, but the left makes the right look like rank amateurs.

Wish I could agree that the Rs are using the debt ceiling as a political weapon, but they're just not that competent or ballsy. Who are the real experts at emotional manipulation, who scare the crap out of senior citizens that their Social Security checks are about to be taken away?

Why doesn't the left realize when confiscatory tax policies are in place, investors simply look elsewhere? I've given up trying to figure out why some people would shoot through their own hands just to wound someone else's shoulder.

For those interested, this fellow does a fine job debunking the myth of the "Clinton Surplus."

Moving this video to NetRunner's personal queue. It failed to receive enough votes to get sifted up to the front page within 2 days.