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Liberty News ForumLNF Forums HerePolitical Opinion Page - The Hot Seat › It's the debt, stupid.
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Hot Topic (More than 10 Replies) It's the debt, stupid. (Read 120 times)
patrick2
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It's the debt, stupid.
Oct 10th, 2018 at 3:33pm
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This gets people's attention when the stock market dips.  Obviously, interest rates and debt are linked.  The current ten year treasury yield, 3.2%, isn't high by historic standards (see graph).  The problem is the federal deficit and debt.  With higher rates, the government is going to pay a huge amount on debt service.  Defense is something like $750 billion, and debt service is coming up to that level.  The deficit is a spending problem.  With a strong economy, revenue should increase - there's a lag between tax cuts and increased revenue.  But the debt is still there - now approximately the same size as the GDP.  The government expenditures have to be cut back, and I once again recommend (as a starting point) a 10% cut back in EVERYTHING.



  
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forgotten centrist
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Re: It's the debt, stupid.
Reply #1 - Oct 10th, 2018 at 3:46pm
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I'm sure Trump will get right on that.  Right after they build the wall, expand the military, do the long-promised infrastructure stuff, and cut the IRS down to the size of one of Trump's golf course staffs.  That'll be when they fix the spending problem.
  

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Ulysses
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Re: It's the debt, stupid.
Reply #2 - Oct 10th, 2018 at 3:52pm
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Tax cuts have been tried time and again, and they have never reduced the deficit or the debt.
  

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patrick2
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Re: It's the debt, stupid.
Reply #3 - Oct 10th, 2018 at 4:32pm
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Ulysses wrote on Oct 10th, 2018 at 3:52pm:
Tax cuts have been tried time and again, and they have never reduced the deficit or the debt.


Fiction.  Wink
  
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Re: It's the debt, stupid.
Reply #4 - Oct 10th, 2018 at 4:39pm
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forgotten centrist wrote on Oct 10th, 2018 at 3:46pm:
I'm sure Trump will get right on that.  Right after they build the wall, expand the military, do the long-promised infrastructure stuff, and cut the IRS down to the size of one of Trump's golf course staffs.  That'll be when they fix the spending problem.


Building the wall, and doing other relatively low cost actions to stop the illegal alien invasion, would produce an IMMENSE net saving in welfare and other costs.  The military has always been a problem with cost overruns, and some cracking down needs to be done there.  There's a lot of ways money is WASTED by the government.  I'd have the federal bureaucracy cut back 10% of its employees.  Would the republic collapse?  Don't think so.   As to the infrastructure, I'd have them get able-bodied people who get government checks out on the highways and start working.  Lots would probably get off the dole if they had to work.
  
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patrick2
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Re: It's the debt, stupid.
Reply #5 - Oct 10th, 2018 at 4:46pm
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Re: It's the debt, stupid.
Reply #6 - Oct 10th, 2018 at 4:51pm
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patrick2
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Re: It's the debt, stupid.
Reply #7 - Oct 10th, 2018 at 4:52pm
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Mojo-Jojo wrote on Oct 10th, 2018 at 4:51pm:
Causation?


That's the theory, those are the results - what more is there?
  
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forgotten centrist
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Re: It's the debt, stupid.
Reply #8 - Oct 10th, 2018 at 4:58pm
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The printed tax rate isn't the effective tax rate.  Effective tax rates have bounced between 17% and 25% since the end of WWII, and below 20% for 36 years.  We are already a low-tax state, when compared to advanced economies.

https://qz.com/74271/income-tax-rates-since-1913/
  

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Re: It's the debt, stupid.
Reply #9 - Oct 10th, 2018 at 4:59pm
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patrick2 wrote on Oct 10th, 2018 at 4:52pm:
That's the theory, those are the results - what more is there?


Proof.

I can take any inverse graph and superimpose it. Sure LOOKS like causation. If I was peddling BS I could then claim causation. You know this though. Smiley
  

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