so keep championing Clinton because you are championing republican ideology when you do
Last edited by Vyxn; 2013-12-02 at 03:57 PM.
If the Federal Government made annual debt repayments of USD 500,000,000,000, it would still take them about thirty six years to pay the whole thing off... counting on deficit elimination of course.
You don't have any more freedom than Europeans. You probably have less on account of how incredibly misinformed you are by your preferred media.
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The bad economy under Obama is caused by Reaganomics. Which, ironically, turns out to be the truth.
Well, back to the OP:
Running oil and gas isn't a good idea. Flooding the market so the prices drop is a terrible idea as they'll drop EVERYWHERE. Which just means more inertia against climate change EVERYWHERE. You can tax the oil as it comes out though. That could produce some money.
In terms of where the 16 trillion came from. Well, 4-4.5 was bush tax cuts which didn't have a noticeable impact on the economy (Bush had lower growth than Clinton) and were largely for the wealthy. The Iraq/Afghan wars, which had NO funding mechanisms are expected to have a cost of 4-6 trillion dollars once you add up all the soldier long term expenses. Medicare Part D was also unfunded with a cost of 1 trillion over 10 years (we are 8 years in). Every year of the bush term after the tax cuts was deficit. And yet the wars and Medicare Part D got tackled onto them without any cost.
Overall, at least 9 trillion dollars of the 16 trillion dollars in debt came from Bush Jr's unfunded policies.
We probably will never pay off the debt, the key isn't paying the debt off completely but keeping it at a level that the government can sustain at. That being said, we should run neutral/surplus when we aren't going through the worst recession since the Great Recession. So that we can use stimulus when we do have a Recession. One thing that anyone with eyes and a newspaper can see is that austerity during a recession really makes the recession worse (look at Greece).
US debt will never be payed back. The only thing possible is that the system will collapse at some point.
"This is no swaggering askari, no Idi Amin Dada, heavyweight boxing champion of the King's African Rifles, nor some wide shouldered, medal-strewn Nigerian general. This is an altogether more dangerous dictator - an intellectual, a spitefull African Robespierre who has outlasted them all." - The Fear: Robert Mugabe and the martyrdom of Zimbabwe, Peter Godwin.
those in poverty, provides an entitlement state to those near poverty, and penalizes
upward economic mobility. Therefore, Socialism perpetuates social classes, it
maintains elitism (power and riches for the connected), inhibits economic mobility
for the middle class through high taxation and regulation, and provides a welfare
state for those in poverty.
Capitalism – increases the wealth of those who provide labor, goods, or services
that are in high demand. Capitalism doesn’t discriminate who makes the products
and services; rather, the decision is made by consumers (you). Therefore,
economic mobility is encouraged by Capitalism; it doesn’t matter who you are
connected to, where you grew up, or the color of your skin. All that matters in
Capitalism is that you are able to provide labor, goods, or services that are in
demand from the consumer, and you will create wealth.
Socialism – taxes income not wealth. It also taxes punitively, the more income you
make, the higher the rate at which you are taxed (please tell me socialists how this
does not discourage upward economic mobility). Therefore, those with wealth are
hardly taxed; those becoming wealthy are the targeted enemy. The status quo is
guaranteed through Socialism and the wealthy and connected stay wealthy and
connected, while the poor and nearly poor are bought off with the money created
by those on their way to wealth. Those on the way to wealth are the most efficient
people in our economy, typically small businesses becoming medium to large
businesses. They are the job creators. They are the companies that improve our
lifestyles through innovation and efficiency. However, they are the enemy of
Socialism. This is why Socialism is so destructive.
Capitalism – discourages taxes at all. Capitalism rewards, not wealth, but wealth
creation. Economic freedom and mobility is the basis for Capitalism. Capitalism
rewards those who provide labor, goods, and services that the consumer wants and
needs and punishes those that do not. It is pretty simple.
Socialism = oppression = slavery
Capitalism = freedom = opportunity
You choose. I’ve made my decision.