Republican Spending -- from FoxNews no less

Discussion in 'Free Speech Alley' started by NoLimitMD, Aug 25, 2005.

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  1. JSracing

    JSracing Founding Member

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    REd, martin is right. Did you not read what Tirk posted on this a few weeks/months ago when this was hashed/re-hashed and no doubt will be again?

    You worry for nothing, when you have all the aces, it's easy to get out of drbt, because you control the international lending rates. works kind of nicely.

    It's sort of like having one of your injured players as the head referee.
     
    JSracing, Aug 26, 2005
    #31
  2. red55

    red55 curmudgeon Staff Member

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    Buying a house via mortgage is a poor comparison. When an individual buys a house he always has the house as an asset which could always pay off his debt, if needed. The US is not buying many assets such as bridges with this money. The US is spending 315 million a year to service debt that is mostly going to salaries, medicare, social programs, and pork projects.

    Yes we can borrow and should when appropriate. But we cannot borrow endlessly like it was phoney money, for it is not. I advocate a proper balance between borrowing and paying down the debt. Surprised?

    You'd make a good used car salesman, martin. Economists who know better than both of us (including your own source!) stress the need to start paying down the debt. I've never predicted "doomsday", but I'm quite certain the future isn't all going to be milk and honey, elysian fields and free lunch.
     
    red55, Aug 26, 2005
    #32
  3. red55

    red55 curmudgeon Staff Member

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    martin is opinionated, articulate, and outspoken but he is seldom right concerning government and economy. he is at least logical, if somewhat puerile, knows how to conduct a debate, and has influenced my thinking on rare occasions. tirk has never convinced me of anything or even impressed me as having a grasp on the subject . . . yet. But there is hope for the boy. Like martin, he has much to learn and time enough to learn it.

    What are these aces we hold, JS? Explain to me how "easy" it is for America to get out of debt? Be specific.

    Worried? Not really, just facing some serious realities that some others would like to wish away. Potential problems can be handled effectively if we are ready and realistic but may be disasterous if we are unprepared and blythely dismissive.
     
    red55, Aug 26, 2005
    #33
  4. JSracing

    JSracing Founding Member

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    I will have to agree with you on cutting spending on entitlements and pork projects.

    We set the Prime rate Red, and the world follows suit.

    that's the aces, again go back and read Tirk's explaination on this from a former post. do a search or something, it's there. I would but I got some stuff I need to be going over for racing. Seriously, not trying to pass the buck but no use posting it twice, it made sense go check it out. Maybe Martin remembers what thread it was in.

    good day
     
    JSracing, Aug 26, 2005
    #34
  5. martin

    martin Banned Forever

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    apparently the one thing we all agree on is that frivolous spending is out of control, we only differ on how damaging it is for the economy to carry debt.

    i worry that fear of debt will cause tax raises, which would be far worse than high debt. so i will accept red's criticism that republicans are wasting money, but my solution would be to stop wasting and only direct money to important investments (like military and homeland security), not to ever raise taxes or freak over a deficit.
     
    martin, Aug 26, 2005
    #35
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