Kitchen Sink (Misc) - Big shocker the "One" wants to raise the debt limit again

billryan

Dec 28, 2011
1:56am

Quote

Originally posted by: franksynopsis
I guess I just didn't notice all the righteous indignation when Reagan raised it 17 times.

You were obviously distracted by the rising tide raising the boat you didn't have, or perhaps by the nearly 40% jump in unemployment that occured in the first three years of Ronnies administration.
Unemployment in 1979- under 6%. 1982/1983 -9.7/9.6% Do you want to try blaming Carter for the increased unemployment three years after he left office?

franksynopsis

Dec 28, 2011
1:59am

Block User

Quote

Originally posted by: billryan

Quote
Originally posted by: franksynopsis
I guess I just didn't notice all the righteous indignation when Reagan raised it 17 times.

You were obviously distracted by the rising tide raising the boat you didn't have.

That's probably it.

alanleroy

Dec 28, 2011
2:30am

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Quote

Originally posted by: franksynopsis
I guess I just didn't notice all the righteous indignation when Reagan raised it 17 times.

Then you weren't listening. During that timeframe, 29 states had passed the call for a Constituional Convention for the purpose of a Balanced Budget Amendment. 29 out of the 34 required.

Reagan's budget failures further illustrate the need for a Constitutional Amendment. You can't trust politicians of any stripe when it comes to the power to give things away without paying for it. Democrat and Republican Politicians both see that as part of their meal ticket.

lvfritz

Dec 28, 2011
2:46am

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Just a minor, rather trivial point......WHAT BUDGET???? The Dems haven't passed one in about three years now. Before you BALANCE a budget, don't you think you have to actually have one to balance?

PJ, now please feel free to return to your regular programming.

szelisk

Dec 28, 2011
2:53am

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LV, remember, they don't need no stinking budget.

szelisk

Dec 28, 2011
2:53am

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Quote

Originally posted by: billryan
If the all-knowing Founding Fathers had thought the country needed a balanced budget amendment, wouldn't they have provided for one?

The founding fathers didn't think our country would get railroaded by BO

franksynopsis

Dec 28, 2011
3:03am

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Quote

Originally posted by: alanleroy

Quote
Originally posted by: franksynopsis
I guess I just didn't notice all the righteous indignation when Reagan raised it 17 times.

I suppose one could compare calling for a Constitutional Convention to the incessant bombardment of vitriol the current president attracts. I wouldn't, but I'm just one independent vote.

alanleroy

Dec 28, 2011
3:29am

Block User

Quote

Originally posted by: franksynopsis

Quote
Originally posted by: alanleroy
Quote
Originally posted by: franksynopsis
I guess I just didn't notice all the righteous indignation when Reagan raised it 17 times.

Then you weren't listening. During that timeframe, 29 states had passed the call for a Constituional Convention for the purpose of a Balanced Budget Amendment. 29 out of the 34 required.

Reagan's budget failures further illustrate the need for a Constitutional Amendment. You can't trust politicians of any stripe when it comes to the power to give things away without paying for it. Democrat and Republican Politicians both see that as part of their meal ticket.

I suppose one could compare calling for a Constitutional Convention to the incessant bombardment of vitriol the current president attracts. I wouldn't, but I'm just one independent vote.

Well there's no doubt these are less civil political times. In fact I would argue that our just previous president attacted just as much "vitriol" as the current one.

The fact remains that many good and honest citizens on both sides have been calling for a Balanced Budget Amendment for many years....because it's in the country's best interest. And just because it wasn't so nasty or politicized during RR's term doesn't mean that those people or their ideas didn't exist.

Eventually, the debt burden will catch up with us. I'd just prefer to be a little proactive about it....or we can just continue to bury our collective heads in the sand.

pjstroh

Dec 28, 2011
4:29am

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The president has attemtped to address the largest line items that are behind the deficit with varying success. In each case he is attacked by the fiscal conservatives for being fiscally responsible.

- He wants to remove much of the unreconciled Bush Tax Cuts. Fiscal Conservative Republicans prefer we continue to borrow money to give Warren Buffet a tax cut he doesn't want.

- He is ending the wars in Iraq and Afhanistan. Fiscal Conservative Republicans are kicking and screaming all the way - all the while complaining about deficits.

- He stopped the completely unfunded Republican Drug program and replaced it with one that is mostly funded - albeit not entirely - a fact that fiscal conservatives cry about while demanding we go back to their completely unfunded plan that covered 30 million fewer people.

pjstroh

Dec 28, 2011
4:33am

Block User

Balanced Budget ammendments are destructive during recessions - something economists from both schools will agree on. Supply siders say recessions are cured with tax cuts. Kaynesians will tell you recessions are cured with government investment. In either case, the government will not take in as much revenue as it spends.

The trick is not to balance the budget during a recession. The trick is to balance a budget during prosperity. We had prosperity in our recent history and our government's response to it was to declare "deficits dont matter" and implement the large, unfunded line items in my previous post.

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