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3 days ago.
by jaxspp
rshill7
#1

Letters To Ed :-)

"We've been duped by the Republicans. Kentucky Sen. and minority leader Mitch McConnell in a news conference one day after the election, stated that the single and sole goal of the GOP over the next two years is: to make Barack Obama a single term president. What an arrogant and obnoxious goal and statement. There agenda before the election was to get votes by promising that there first goals were jobs, the economy and health care reform. It seems their goal is to grab power, not to do things for the people that are in need of jobs and or unemployment pay, health care for those that don't have it, and the people losing their homes. This is the same party that wanted the auto plants and their suppliers to go out of business. We are just coming back from what they did to this country, and now we have them back to do the same things to our country again. What a mess the next two years is going to bring to this country. Talk about partisanship." Carl D. Leow Rogers Cit

 
 

Member Comments

Freeman

The numbers don't add up. His tax increases were spent on many things, not all infrastructure.

Certainly not fast enough to create the tech boom.

You can't ignore the private sector's role in creating that surplus, to do so belies a fundamental misunderstanding of economics.

ECON 101

Posted 293 days ago.

Freeman

Wow, really?

Look at the revenue generated by the tech boom.

Compare it to the revenue generated by the tax increases.

In short, Clinton managed to spend $3 + trillion more than Reagan and still generate a budget surplus. Clinton spent far more than the savings from cutting Reagan’s defense spending. How was that possible?

Posted 293 days ago.

So we're calling it luck now. The economic boom was just a coincidence, had nothing to do with the government having the revenue to invest back into America. Reich said the tax increases were specific and the revenue generated by them were invested in a specific way. Of course now the money is sent to Switzerland by the likes of Mitt Romney, not invested into America. How we are better off with that as a country, I have no idea.

Your Econ 101 lesson: "When government grows the private sector shrinks. Econ 101.

You getting my drift?"

Really. Seems like in the Clinton and Reagan scenarios the economy grew for both presidents and government grew. That's impossible under Econ 101.

Posted 293 days ago.

Freeman

You're right, Libby was a bad comparison but Snowden still needs to be tried, (IN MY OPINION).

Posted 293 days ago.

Freeman

The point is simple. Tax increases did not create surpluses, economic growth did. Clinton and, YES, Gingrich get far too much credit where credit is NOT DUE.

KUDOS to the U.S. economy during that period.

Today we are asking for more money from the private sector in an economy whose growth has been pitiful for years. Not smart and not going to work.

The fed finally wised up and stopped printing money. Interest rates will start to rise and investment by the private sector will grow. It took them awhile but some lessons, I guess, have to be learned over and over.

Posted 293 days ago.

Freeman

That was rhetorical and supposed to be funny.

Sorry if I offended you but to be fair you are not very specific in your claims.

I've posted an article that might shed some light on the Clinton years that many people do not know about because they have not studied it.

Posted 293 days ago.

Freeman

Clinton spent far more than the savings from cutting Reagan’s defense spending. How was that possible? Clinton was lucky. It is true that he raised tax rates on the two highest categories of income earners. But his luck was more important. His presidency fell between two recessions – 1991 and 2001. His years in office were marked by both an economic boom and a stock market boom. Government tax receipts flooded in.

Posted 293 days ago.

Freeman

Federal outlays in Reagan’s first FY budget year of 1982 were $1.794,05 trillion (real), some 22.9 percent of the real GDP. By his last budget year, FY 1989, real outlays had risen to $2.141,36 trillion but as a percentage of GDP had fallen to 20.9. In total, Reagan spent $16.003,7 trillion 2013 dollars. Real outlays in Clinton’s first FY budget year of 1994 were $2.290,0 trillion or 20.6 percent of GDP. By his last FY 2001 budget, real outlays had risen to $2.398,8 trillion but as a percentage of GDP had fallen to 17.8. In total, Clinton spent $19.054,4 trillion 2013 dollars. In short, Clinton managed to spend $3 + trillion more than Reagan and still generate a budget surplus.

Posted 293 days ago.

You don't put words in my mouth:

"To sum up this morning, according to jaxspp, the U.S. House of Representatives is not required to pass revenue legislation. "

Find my post where I said that.

Posted 293 days ago.

I never said it was a balanced budget. Once again Free puts words into my mouth. Is that the 4th or 5th time you've done that now in 2 weeks?

The revenues generated by the bill led to a balanced budget. Obviously a difficult concept.

Posted 293 days ago.

Freeman

The 1993 Omnibus was 5 years before any budgets that balanced. Sorry, you are incorrect.

Posted 293 days ago.

rshill7

Yep, Surefriend is a commie. It sounds now though like he has been a duped commie. Duped into supporting commies, voting for commies, and trying to get others to do the same. In other words, a blind commie who just had his debilitating cataracts removed, partially.

"The goal of Socialism is Communism." (Lenin)

Obama's Mother, Father and mentor were all communists. I know it, you know it, and the American people know it.

Afraid to use the word commie? That just means you're afraid. Sugarcoat it all you want. Then curse the ensuing cavities.

McCarthy was ahead of his time. His downfall opened the gates for commies.

Commies, commies, commies. One should call a commie what he is, a commie.

Posted 293 days ago.

Freeman

What are you talking about? Please identify the "words I put into your mouth".

Posted 293 days ago.

Freeman

The Omnibus was also not a balanced budget as you state and, in your opinion, setup the surplus by increasing revenues flowing into the government.

My point is that those "tax increase" inflows were miniscule compared to the growth related inflows caused by the exploding tech industry.

Posted 293 days ago.

"Oh, wait a second...it most certainly does. Nevermind, just close your eyes to it as Jax and Norm have done. Follow their lead, and perhaps the ghost of Beria will come fish all 3 of you out of the ditch. "

I've explained that I don't live my life in paralyzed paranoia tin-foil hat fear like you do RS. Just because you live your life cowering does not mean we all have to.

Posted 293 days ago.

Freeman

I would offer that the tech bubble created the surplus DESPITE that increase in taxes but I see your point.

A clear cause and effect has not been established.

Unlike raising taxes during a weak economy, which many democrats are arguing for, the 1993 Omnibus did it during a clear upturn.

You're right and the republicans did not control the House at that time.

Posted 293 days ago.

You will see if you bother to read it that the Omnibus Budget act was developed by Clinton and Robert Reich and raised a number of taxes, not as blanket raise but specific targeted raises. You will also see every Republican voted against it.

I'm going to ask you Free, to do a very difficult thing here, use logic. Now, we have a bill that raises revenues. All Republicans voted against it. Do you really feel Gingrich should claim credit for the balanced budget when all Republicans voted against the portion that raised revenue?

Posted 293 days ago.

According to Free, putting words into my mouth and jumping to conclusions is his norm, as he has now demonstrated several times over the past two weeks.

Posted 293 days ago.

Libby was not convicted for outing the CIA agent. He was convicted for obstructing the investigation into the outing.

Posted 293 days ago.

*******en.wikipedia****/wiki/Omnibus_Budget_Reconciliation_Act_of_1993

Posted 293 days ago.
 
 
 
 

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