Lets make fun of Obama while he is still relevant.

[Eric the Green]

(11-17-2016, 10:18 PM)Warren Dew Wrote:

(11-17-2016, 04:21 PM)Eric the Green Wrote: So you really want more debt as an answer to demographic slowdown (translation, fewer people saddled with higher debt)? More deficits and debt in a period of recovery? $19 trillion is not enough fer ya?

I suspect the real objective you favor is to render government and it's "top down" activities impotent. You can correct me if I'm wrong, tho

While I wouldn't mind that, that's not my reasoning.  I will point out one thing:  the important issue is debt service, not debt.  With interest rates at 1%, ten times as much debt is sustainable as is sustainable with interest rates at 10%.  And I can remember when the latter was the case.

The problem being that they could go to 10% again at any time. I can remember when the rates were close to 20%. Then most of our taxes will be going to pay interest. I suppose that's one way to stimulate the economy, when we're not doing QE. Or it might stimulate China's economy, FWIW. But it doesn't give the US taxpayers much benefit, I don't think.

Quote:

Quote:I suspect though that there are deficit hawks in both parties that may put a stop to Trump's deficit spending, and thus end his hope for his plan to "bring jobs back" (which it would never accomplish anyway, except for some temporary infrastructure projects). No, the time for this was 2009, and the DINOs first watered it down, and then that same Republican Party that boosts him now, brought the OBama stimulus to a screeching halt in 2011 so they could blame him for the tepid recovery in the next election, which they did.

Truth.  But I don't advocate any spending increase at all.  Rather, I advocate increasing the deficit through massive income tax reductions.

I suppose we might avoid some boondoggles that way, such as Trump's stupid military toys and walls. I hope the deficit hawks and spending opponents have some say in the matter. But beyond that, all that reduced taxes accomplishes is a reduced tax bill. It is very bad for the country, both in terms of debt, and the removal of services that the government provides that we need. It has no benefit for most people's income. Supposed benefits of reduced taxes on the wealthy do not trickle down at all, and there is little stimulus to the economy. Poverty increases, public resources are removed, infrastructure and research decline, and the bosses abuse the people and the environment, who then have no recourse. It's a failed theory. Free market capitalism alone cannot supply what a healthy society needs. Not even close. It never has, and never will.

But, right now, not quite enough Americans realize this.

http://philosopherswheel.com/freemarket.html