Ronald Reagan in his final speech as President was a love letter to immigrants.
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Why I am a Ronald Reagan Republican...OT
- Thread starter bullmarket
- Start date
Come one come all but do it legally.
Calling Ronald Reagan a conservative is laughable. FACT, the 1st budget he sent
to the Congress was 100 billion in the red. Every budget he sent every year after
was deeper to the red than the previous years budget. When he left office, he was
this countries most expensive president in history. What he set in motion has created
what we see today. And no I ain't no clinton democrat, i'm just an independent who
doesn't have blinders on his eyes.
to the Congress was 100 billion in the red. Every budget he sent every year after
was deeper to the red than the previous years budget. When he left office, he was
this countries most expensive president in history. What he set in motion has created
what we see today. And no I ain't no clinton democrat, i'm just an independent who
doesn't have blinders on his eyes.
The word 'conservative' was never mentioned in this thread until you typed it. You must be one of those people who thinks the name 'Republican' equates to conservative.
I love Ronald Reagan as a person. Spent time talking with him about dogs and jeeps, LOL! An entertainer through and through. Yes, he is the beginning of our National Debt crisis that could one day destroy US. Dropping the highest tax rate from 70% to 50% to stimulate the economy didn't work. Cutting the Capital Gains tax in half didn't work. Growing the Government, especially Defense like crazy created the current Debt Crisis. Consumers had no money so the government became the replacement consumer to stimulate the economy (and drive Soviet spending up). Low taxes allowed cash, jobs, and tax base to pay a small fee and go to China. Bill Clinton's economy got the benefit. Trump is right, Free Trade allows that money to work here without bringing jobs or taxes. Carter was supposed to be a Globalist. Reagan, Bush, Clinton, Bush, Obama are all Globalist. They all work for their peers. Those peers are the ones that have received all the tax cuts. The Democrats funnel money to the lower class(and upper). The Republicans funnel money to the Upper Class. If you're a working man, ain't nobody working for you!
Every republican conservative calls Ronald Reagan the modern day
patriarch of conservativism. If you didn't know that then get the sand
out of your eyes and ears.
patriarch of conservativism. If you didn't know that then get the sand
out of your eyes and ears.
In the same way you use a broad stroke of the brush to wrongly imply 'Republican' equates to 'conservative', you also use that same brush to generalize conservatism itself. Conservatism comes in numerous different forms, who's ideologues are often at odds with each other. You're too vague, non-specific and too pissed-off at the world to carry on a decent debate.
In the same way you use a broad stroke of the brush to wrongly imply 'Republican' equates to 'conservative', you also use that same brush to generalize conservatism itself. Conservatism comes in numerous different forms, who's ideologues are often at odds with each other. You're too vague, non-specific and too pissed-off at the world to carry on a decent debate.
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Now that's the way a so-called conservative politician would blabber his way out of it. Every conservative I know, and that's mostly all of my family believe in balancing a budget is the 1st requirement to being a conservative. So much for your nonsense.
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Now that's the way a so-called conservative politician would blabber his way out of it. Every conservative I know, and that's mostly all of my family believe in balancing a budget is the 1st requirement to being a conservative. So much for your nonsense.
National debt crisis?
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US gov debt timeclock. Go to that site, look at the bottom figure. It';s called
unsecured Liabilities. That's Social Security, Medi Care and Gov. Pensions.
Add that to the 1st figure which is the money they've borrowed over the history
of this country. Then if you don't believe those figures go online and do the math.
No matter what figure you come up with it'll be much more than anything possible
to finance longterm. This country is dead broke, so is most of Europe, Japan and
any other country that's a Bureaucracy. They do what's best for the bureau and
screw over the consumer.
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US gov debt timeclock. Go to that site, look at the bottom figure. It';s called
unsecured Liabilities. That's Social Security, Medi Care and Gov. Pensions.
Add that to the 1st figure which is the money they've borrowed over the history
of this country. Then if you don't believe those figures go online and do the math.
No matter what figure you come up with it'll be much more than anything possible
to finance longterm. This country is dead broke, so is most of Europe, Japan and
any other country that's a Bureaucracy. They do what's best for the bureau and
screw over the consumer.
You do realize that the US government doesn't actually borrow money, right?
It's calleded US bonds and T-notes. It's an underhanded way of borrowing but it's
still a security that's is tied directly to whether or not there's enough confindence
world wide to believe it's a good investment. You may want to believe it's not
borrowed money but the debt incurred is still there. They call this the Gross
Demostic Debt. It's currently setting at $20+ trillion.
still a security that's is tied directly to whether or not there's enough confindence
world wide to believe it's a good investment. You may want to believe it's not
borrowed money but the debt incurred is still there. They call this the Gross
Demostic Debt. It's currently setting at $20+ trillion.
Medic my friend. The US issues Treasury bonds and Treasury bills almost every week which pay interest. They may issue 2 billion at a time, 10 billion at a time even 50 billion or 100 billion at a time. These bonds are used to pay the day to day expenses of the US Government. Many Banks and insurance companies buy the US bonds as an investment. The interest is paid by the US to the bondholder and this adds to Americas deficit. The bonds and US Treasury notes have a maturity date when the US pays back the principal on each the bonds they issue. This also adds to the debt. The US Bonds and US notes may mature in 3 months four months six months one year two years five years 10 years 20 years and even 30 years.
One of Americas biggest expenses is paying interest on all of this debt (the interest on the bonds they issue). The debt keeps growing and growing every minute of every day. .
The only way the debt can by reduced is for Congress to stop their out of control spending.
The US Debt now is at an astronomical 21 Trillion dollars and growing every day
Another vicious circle is when the US pays off the principal of each the bonds they issue, then the US has a new US bond issued to pay off the maturing bonds.
THE US CONTINUALLY GROWING DEBT IS OUT OF CONTROL.
CONGRESS NEEDS TO CUT BACK ITS OUT OF CONTROL SPENDING.
AS THIS DEBT KEEPS GROWING ANG GROWING IT WILL EVENTUALLY HAVE GREAT
HARM FOR OUR COUNTRY
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You seem well informed on issues of fiscal conservatism, then you go making this incorrect statement. A deeper study of the different forms of conservatism would complete your knowledge.
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The government deficit (surplus) equals the non-government surplus (deficit). The government debt (surplus) equals the non-government surplus (debt).
The only entity that can provide the non-government sector with net financial assets (net savings denominated in the currency of issue) and thereby simultaneously accommodate any net desire to save (financial assets) is the currency monopolist – the federal government. It does this by net spending deficits. The only way the government raises revenue is through taxation. Money taxed out of the non-government sector reduces the dollars available in the non-government sector. Federal budget surpluses reduce savings in the private sector.
For an example...
Suppose the economy is populated by two people, one being government and the other deemed to be the private (non-government) sector. If the government runs a balanced budget (spends 100 dollars and taxes 100 dollars) then private accumulation of fiat currency (savings) is zero in that period and the private budget is also balanced.
Say the government spends 120 and taxes remain at 100, then private saving is 20 dollars which can accumulate as financial assets. In the first instance, they would be sitting as a 20 dollar bank deposit have been created by the government to cover its additional expenses. The government deficit of 20 is exactly the private savings of 20. If the government continued in this vein, accumulated private savings would equal the cumulative budget deficits. The government may decide to issue an interest-bearing bond to encourage saving but operationally it does not have to do this to finance its deficit. If the savers transfer their deposits into bonds their overall saving is not altered and it has no implications for the government’s capacity to spend. It has the advantage for savers that they now also enjoy an income flow from their saving.
However, in this same example, should government decide to run a surplus (say spend 80 and tax 100) then the private sector would owe the government a net tax payment of 20 dollars and would need to sell something back to the government to get the needed funds. The result is the government generally buys back some bonds it had previously sold. The net funding needs of the non-government sector automatically elicit this correct response from government via interest rate signals.
Either way, accumulated private saving is reduced dollar-for-dollar when there is a government surplus. So it is clear that the government surplus has two negative effects for the private sector: (a) the stock of financial assets (money or bonds) held by the private sector, which represents its wealth, falls; and (b) private disposable income also falls in line with the net taxation impost.
Stop believing the deficit/debt rhetoric. The fact that both political parties use it against each other should be a clue. It's nothing but fear mongering political fodder.
Medic get real. Fact, this goverment is digging a hole it won't be able to escape.
Social Security, MediCare and Fed. Pensions are beyond anything most can
comprehend. The figures I see for those 3 and any other unsecured liabilities
is above $100 trillion. There's no way any tax plan can even cover the interest
on that kind of debt. This government is broke. If you don't believe the $100
trillion figure, then go looking, I have and I know if you cut in 1/2 anything you can
find as an honest attempt at discovery, that figure will be way beyond anything
any government can finance.
Social Security, MediCare and Fed. Pensions are beyond anything most can
comprehend. The figures I see for those 3 and any other unsecured liabilities
is above $100 trillion. There's no way any tax plan can even cover the interest
on that kind of debt. This government is broke. If you don't believe the $100
trillion figure, then go looking, I have and I know if you cut in 1/2 anything you can
find as an honest attempt at discovery, that figure will be way beyond anything
any government can finance.
Sorry jeramiah, I'm not going to join you in the debt hysteria. I laid out why in my previous post. I'd be more than happy to explain further, but if you're dug in on the debt hysteria, that's cool too. We can agree to disagree.
THE CURRENT ANNUAL FEDERAL DEFICIT FOR 2019 FISCAL YEAR (OCTOBER 1, 2018 to SEPTEMBER 30th, 2019)
(1) The US government for fiscal 2019 is spending 4,047 Trillion
(2) The US Government revenue for fiscal year 2019 has the revenue of 3,442 Trillion.
The fiscal deficit for Fiscal year 2019 will be 605 Billion
The Total national debt after fiscal year 2019 will be over 21 Trillion Dollars.
LINK
https://www.thebalance.com/current-u-s-federal-budget-deficit-3305783
The current US National Debt as of December 31,2018 is 21.97 Trillion.
LINK
www.marketwatch.com
As of December 31, 2018, debt held by the public was $16.1 trillion and intragovernmental holdings were $5.87 trillion, for a total or "National Debt" of $21.97 trillion. ... In 2017, the US debt-to-GDP ratio was ranked 43rd highest out of 207 countries
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Nothing to do with hysteria. Just crunching the numbers. Those numbers are
there for one is willing to look for them. You're telling me you don't won't to look.
It's all about looking ahead for when times get tough. Too many people think the
gov. will bail them out when it's the gov. conning people into believing that
everything is going great with in fact we are living on borrowed money. This gov.
has mortgaged the next generation's future to pay for this generations mistakes.
there for one is willing to look for them. You're telling me you don't won't to look.
It's all about looking ahead for when times get tough. Too many people think the
gov. will bail them out when it's the gov. conning people into believing that
everything is going great with in fact we are living on borrowed money. This gov.
has mortgaged the next generation's future to pay for this generations mistakes.
How can we be living on borrowed money when the government doesn't borrow money?
Yeah, bull, that's great, but it's meaningless political fodder.
Tell me, how can economic expansion occur without the issuer of US dollars spending more than it collects? If the money supply was a fixed quantity, wealth could not grow, it could only change hands. We both know that's not how things work.
The US abandoned the gold standard in 1933 to stimulate the economy during the Depression, which paved the way for today's deficit spending. Nixon officially took the US completely off in 1971 to keep US dollar hoarding foreign governments from draining the US gold reserve. We've been hearing about the terrible thing the public debt is since its inception and yet, here we are.
So, a question for you. What was the US economy like during and after WW2? What was government spending like during WW2 and during the onset Cold War?
You keep coming up with the same nonsense. Yet you refuse to address
what is obvious. This gov. does in fact borrow money. A bond or t-note ain't
no different than an IOU. It is in fact a method of borrowing. And you still
refuse to acknowledge that this gov. has close to 100 trillion in unsecured
liabilities. This country is broke, dead broke.
what is obvious. This gov. does in fact borrow money. A bond or t-note ain't
no different than an IOU. It is in fact a method of borrowing. And you still
refuse to acknowledge that this gov. has close to 100 trillion in unsecured
liabilities. This country is broke, dead broke.
Where does the US dollar come from? What currency does the federal government "borrow" in?
Like I said, we can agree to disagree. I don't buy into the hysteria because it simply isn't based in fact. Of course the federal government can't spend recklessly because that drives up inflation. But contrary to the political alarmists, deficit spending isn't the end of times, especially if you like economic growth.
Sounds good Medic007. We will soon hit a magic 115% number. We've already been propping up our bond market; we'll have to do it again and more. It could get very ugly. We could get a downgrade in our credit rating. Super national deals requiring spending cuts and tax hikes. Government retiree pension cuts, and high unemployment are possibilities. Loss of World Reserve Currency status. International condemnation for abuse of special status and aggressive actions without international approval. We will get to see who is right. I certainly don't want to be right.
To me my friend it is simple math.
For the current annual Federal Deficit lets use the 2019 fiscal year
The US Government is SPENDING 4047 Trillion
The US Government REVENUE is 3442 Trillion
Simple math . The 2019 Federal deficit is 605 Billion.
The Deficits (or a Surplus) every year are added up together every year to get a grand Total
for the National Debt.
Simple math.....The grand Total.
The Total National debt is presently at 21.97 Trillion Dollars
.Medic Here is an interesting chart for you.
The Federal Deficit or Surplus year by year since 1929.
https://www.thebalance.com/us-deficit-by-year-3306306
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bull, it isn't like your household. You aren't the currency issuer.
Anything about the economy during WW2 and after? There was a BUNCH of deficit spending going on. How about the effects Bill Clinton's touted surpluses had on the economy? Those were good, right?
Why keep being duped by the political rhetoric of both parties? They want you to fret because if their side has power, they're going to "do something" about deficit spending. But neither side does. The federal government has operated a deficit since 1970 except for a couple of years during the Clinton presidency. The effect of government surplus was huge levels of private sector debt. The private sector can't operate in deficit indefinitely because it doesn't issue US dollars.
Don't take my word on it. The information is all available on these interwebs if you choose to dive in.
Read this the year by year since 1929 Deficit or Surplus and THE EVENTS that had an effect on the Deficit or Surplus year by year
https://www.thebalance.com/us-deficit-by-year-3306306
bull, embark on a simple exercise with me. I believe you worked in the financial sector, right? We'll use round numbers for ease of the math.
Let's say the government got serious about the debt and deficit spending and enacted law to require elimination of the national debt in 10 years. Spending is capped a $4 trillion annually and not a cent more. Since the government only uses taxation on the inflow side, taxes are increased to bring in a minimum of $6 trillion a year for an annual surplus of $2 trillion to pay toward the debt. And finally, let's say for simple math that the national debt is $20 trillion.
With a surplus of $2 trillion a year removed from the private sector and zero Treasuries issued, what do you think would happen economically in the first year? Over 10 years, the government will haved removed $20 trillion from the private sector and will have issued zero Treasuries. What do you think the removal of $20 trillion would look like economically for the private sector? What do you think 10 years of no Treasuries looks like for the private sector?
bull, I'm not asking what caused deficit spending. I'm asking you what the economic impacts were. And what were the economic impacts of the couple years of government surplus?
It's called, Supply Side Economics. the more you got or make, the less it's
worth. And yes currency is a commodity. This gov. has been increasing it's
debt and will one day, sooner rather than later, will have to pay for those
mistakes. Somehow or other you got it in your head that the basic laws of
economics are different for governments than it is for people, That's
nonsense.
worth. And yes currency is a commodity. This gov. has been increasing it's
debt and will one day, sooner rather than later, will have to pay for those
mistakes. Somehow or other you got it in your head that the basic laws of
economics are different for governments than it is for people, That's
nonsense.
I don't know if the Clinton surplus had any long term effect due to other factors.
The one real positive I can see is that with a surplus the interest the US pays on their debt (the Government bonds) would be controlled without a negative effect.
Lets look at the deficit spending today and the National Debt.
The National Debt is what the Government is borrowing when it issues more and more Government bonds. The grand total of the Debt (the Government bonds issued) is the total National Debt 21.97 Trillion dollars.
The US pays interest on all of these Government bonds which adds billions to the Total National Debt.
The debt right now is dangerously high and something bad could eventually happen
as the National Debt gets larger and larger.
What devastating thing that could happen is if the rating agencies Standard & Poor and Moodys Lower the rating of US Government bonds from AAA to AA.
AA bonds would have the US pay a higher rate on interest on all of the US Debt (Government Bonds) making the National Debt go higher and higher
We have created money electronically by just typing it a computer. We have used this money to buy our own bonds, in order to make it look like the bond auction volume is healthy. This keeps interest rates on bonds from rising.
You should look into the private sector effects of the surplus.
bull, the government doesn't have to pay interest. It does so to make Treasuries an attractive investment.
We've created money with keystrokes for quite some time now. Are you talking about the Fed increasing their balance sheet as an economic stimulus? If so, that had nothing to do with auction volume. That was to inject money into the private sector and an attempt to drive down long term interest rates. How well it did at driving down long term rates is a subject of current debate. It did inject money into the private sector though.