Consider this an open thread.
Possibly the two most misquoted, misinterpreted, and misunderstood men in history are Keynes and Machevelli.
Remember the part Keynes talks about running surpluses in good times? The folks that want to say Keynes is for deficit spending then greater deficit spending miss the mark.
And most economists, regardless of their school/background/theories, don’t support fiscal policy as a way to manage the economy. Politicians make the worst economists, and the lag between decision and effect often causes the timing of fiscal policy to be counter to what is actually needed when the effect occurs.
The preferred alternative to “tax and spend” is clearly “lend and spend.” The deficit created under Bush/Cheney was not a happenstance; it was by design, so the next generation of country club brats would have a secure income from bonds, just like the present one.
The Social Security surplus is seen as a threat because it means that the federal government can be self-financed, without having to give Wall Street a “cut.”
And the conservative blather about the deficit should remind us of the fable of the fox and the grapes.
Yeah, the deficit doesn’t mean anything.
It all about spending; Regardless of the top tax rates Federal Tax Revenues have been consistently 19.5% of GDP over the last 55+ years.
In the ’80’s Federal spending was 21% – 23% of GDP, thus the US ran Federal deficits. In the late ’90’s Federal spending was 18% – 19% of GDP, therefore we had the Clinton surpluses. The lower spending % was a result of welfare reform, Y2K expenditures, and the dotcom boom. In the Bush years Federal expenditures ranged between 19% – 21% leading to increases in Federal debt.
Obama’s budgets call for Federal spending in the 23% – 25% range from 2009 – 2015, which will result in record deficits for his Presidency. Every President since Carter has left office with more Federal Debt than the day they were inaugurated.
… In the Bush years Federal expenditures ranged between 19% – 21% leading to increases in Federal debt…..
If you factor in future liabilities ie Medicare part D and the both wars that number is much higher.
Medicare Part D was suppose to save money since Seniors would be able to avoid costly surgeries by taking prescription drugs so we were told. Of course the liability for Medicare Part D is larger now that the “doughnut hole” is filed.
Should that be ‘Machiavelli’?
Obama’s weekly address–
It’s my sense that HIR was the warm-up and financial reform is the main event.
It is our money. Why should the gnomes of Wall Street be in charge of deciding who uses it and for what?
Let me get this straight hannah.
It’s Bush’s fault.
It’s Wall Streets fault.
OK I understand now.
I got the feeling last week when Obama said. “Like it or not we need an stable economy” He was trying to calm down the socialist that voted for him and are mad we are not all riding bicycles by now and gas isn’t $6 a gallon.
The Social Security statement… well not of this earth. The mother ship should be along any minute for ya.
It’s not nice to put words into other people’s mouths. But, no, Wall Street, where I learned to drive, is not at fault and the gnomes of Wall Street also have their haunts in Little Rock and St. Louis and Switzerland.
Paul Krugman has dubbed them “Looters in Loafers”
The SEC just calls it fraud.
It’s the disciples of Ayn Rand’s fault for looking for false gods in commerce.
That whole Objectivism thing has really taken one to the jaw– Ayn overlooked that Man’s essential goodness is victim to avarice.
Since we have an open thread and no one on hear ever talks about Lee Hawkins when he’s bringging the heat.
Hawkins Leads Fundraising in Ninth District Election, Out-raises Opponents
(Gainesville)-State Sen. Lee Hawkins’ recently filed campaign disclosures show the Republican Congressional candidate continues to gain momentum. Hawkins raised substantially more funds and support than any other candidate.
Hawkins received contributions of more than $195,000, considerably more funds than any other candidate for the same reporting period. New cash contributions were received from long-time 9th district residents and healthcare professionals, which accounted for nearly $182,000.
Hawkins expressed his gratitude to those showing such strong support. He said it is clear that those living and working in the district are joining those who care about cleaning up the national healthcare debacle to say experience matters to them.
Lee Hawkins is the only candidate who has experience in all three criteria most important to North Georgians: experience in healthcare, experience in the legislature, and experience for more than 30 years in business.
“We need someone who understands how government influences growth – and how government can kill growth,” Hawkins said. “Someone who has the wisdom and knowledge that comes from owning and operating a successful small business. I am that guy and I want to work hard for the people of the 9th district.”
In addition to financial strength, Hawkins has built the strongest grassroots campaign of all contenders. He has met with and earned the support of dozens local elected officials, and he has consistently led in polls.
“A resounding message is that North Georgians want representation from someone who has the experience it takes to make wise and deliberate decisions,” said Hawkins. “They want someone who can think through a problem and solve it – not just throw money at it. They want to take back the America they love and preserve it for their children and grandchildren. I will work hard over the next 25 days to further earn their support.”
For a complete list of accomplishments, for general information or to contribute, please visit http://www.leehawkinsforcongress.com
· Total Raised To Date: $586,722.47
· Total Cash Raised In First Quarter: $181,798
· Total Cash on Hand: $403,227.52
· Donor Base: 832
· Average Gift: $397.00
And a $145k loan to pad his numbers. Thanks for mentioning that.
Apparently, details aren’t important. I’ve ALWAYS looked suspiciously at candidates who contribute a significant amount of their own funding through these personal loans. If the folks won’t support with dollars, they probably won’t support with votes. Says a lot about a candidate and his (lack of) ability to convey his message!
Jason, no matter how you cut it Lee raised more money than anyone else this quarter.
Also every single Candidate in this race who has a job has contributed to their own capaign.
I agree McDawg81
I’ve read a lot of posts about these so-called personal loans to campaigns. I’m curious… does the campaign pay interest on these loans or are they typically “written off?”
If they win the lobbyist pays them off. Why would you charge yourself interest when you are going to be expecting free lunches, booze and lose women ?
BTW..that video was 7 minutes too long.
Looks like someone did a little digging into who has contributed to Mr. Olens over the past few years. It’s amazing how many democrats donated to his campaign on the same day they also donated to Hillary Clinton, Pres. Obama, Vernon Jones, John Barrow, David Scott, John Lewis, and the list goes on an on! I wonder how quickly he will file suit against Obamacare with all of those big democratic backers also giving him money?
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