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Originally Posted by FuglyStick
We know. And most of us are ashamed.
---------- Post added at 08:22 PM ---------- Previous post was at 08:18 PM ----------
So fucking myopic. It's like a ten-year-old's grasp of the economy.
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Yeah, let's keep wasting tax payer's money bailing out the same sectors over and over again because that works so well and nobody has to learn any lessons.
Companies that build products nobody wants like GM and Chrysler did deserve to go out of business. Companies that replace them will act as customers to those companies that formerly supplied GM and Chrysler
---------- Post added at 05:47 AM ---------- Previous post was at 05:26 AM ----------
Quote:
Originally Posted by Baraka_Guru
Okay, let's assume, then, that Obama's handling of the stimulus spending was, for the most part, bad. (However, the only true way to know this is to wait until all of the money has run through the system---and, as an aside, the Canadian government's handling of stimulus spending was more moderate and therefore more manageable and likely more effective...time will tell.) This brings us to: what do we do now? People are calling for the government to reign in spending. That's probably a good idea. I'm not sure what this deal is with stimulus spending made "permanent," but stimulus spending is supposed to be temporary. Maybe start by making sure it's temporary.
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What we do now is stop Obama's idiocy of proposing more spending programs like the $150 billion or more he proposed in the last few weeks. Last year's spending hasn't fixed much of anything, so let's not do it again. Taxpayers are going to have to pay this money back, with interest, so taxes are going to go up because of this.
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Quote:
Originally Posted by Baraka_Guru
Of course, the government could also look at ways to trim the budget. I know that people are concerned about "pork," so money could be saved there, but it's my understanding that it isn't all that much, comparatively.
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As I've said before, aggressively cut government spending in all agencies including the military. Fund the military to the point where it's an effective defense force for the US and not the military for the rest of the world.
Entitlement programs need to be cut too. Social Security is a bit of a problem since so many people have effectively invested their retirement savings in it, being forced to do so. However there's stupidity in that program too. I just found out about a "spouse's benefit" where if a husband or wife doesn't earn enough credits to earn Social Security on their own, they get to file an additional claim for half the amount their spouse gets. Something for nothing.Another liberal giveaway program. I happen to benefit from this program since my wife hasn't worked that many years and it's now impossible for her to get enough credits, but I still think this is stupid.
Quote:
Originally Posted by Baraka_Guru
So spending can be reigned in, but whether deficits can be eliminated depends on the topic of this thread: the expiry of the Bush tax cuts.
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I think paying off the national debt is important. I personally think debt is stupid as a regular course of business. But if we are going to raise taxes to pay of the debt, then Obama also has to give up his programs that are increasing the debt.
The way things are going, it looks quite likely that in 2011, he will be doing exactly that, and be looking for a job in 2012.