Dems. already want your money

[Carol&Marc 0]

MMMM? Let me see, if I remember right we had budget surpluses during the Clinton years.

Stock market bubble,remember nasdaq 5000 it was great, lots of people went broke! It was great for the government all those lovely capital gains. yep I remember.

[Trompe le Monde 1,107]

did you really weep when a bunch of venture capitalists in san fran sicko went bust?

[Carol&Marc 0]

did you really weep when a bunch of venture capitalists in san fran sicko went bust?

It effected lots of people, not just the rich. if you have a 401k the stocks you bought at those inflated prices you will never get back!

[rclouse 0]

I like the guy from UTAH that stands up and questions ever earmark, talk about ballsy. Even his dad would not come to him for an earmark cause he knew he would be grilled about it. They had him on 60 minutes a while back.

Actually, I think he's from Arizona, IIRC. Seemed to be a good man, a good fiscal conservative.

[mrc 0]

You guys are misguided if you think raising taxes is going to reduce the deficit. There are countless other avenues the democrats could attack first. This is just an excuse.

[dougyceci 0]

A bubble is exactly that a bubble. Bubbles burst. I have no compassion for the get rich quick investing, and the dotcom bubble was just that. It does not replace good economic principles of long term outlooks. From what I see, these companies are going at it again. I am sure this time the investing will be scrutinized with much more care. As in all arenas, there are winners and losers, can't blame the gov't for foolish investing. I am sure none of the people who started a business in a garage, went public and walked away with millions feel any remorse. As to those who lost in the retirement area. I would venture a guess they would probably have been on a witchhunt if their 401k's had missed this great opportunity.

[one...two...tree 2,762]

MMMM? Let me see, if I remember right we had budget surpluses during the Clinton years. While some external forces changed our economic outlook, our leadership on the economic front was doomed when Paul O'Neil was fired as Sec. of the Treasury because he would not sit idly by and watch the fiasco that we have develop. As to our debt, never going to be gone but that does not mean it has to grow at rates approaching $500 billion a year. Time for a change, America has spoken, and if it means a little restructuring, so be it. Maybe these damn liberal democrats who favor a more liberal immigration policy will take a look at the USCIS and fix it also with this "supposed tax increase." I for one would welcome that aspect of it.

United States National Debt

(1938 to Present)

[dougyceci 0]

MRC, I agree, not saying that a tax hike will fix anything alone. If the economy is moving to fast, a tax hike is a market mechanism to slow it down and with other cuts possilby slow down the deficit and maybe cut our debt some. There are no definite answers, I think we all know that. Just fun hashing it out for me.

[dougyceci 0]

Steven, did not say the debt decreased, said the deficit was lower under Clinton. Only 6 times in the last 50+ years did the debt actually decrease. I am only implying deficits in the $400-500 billion range need to be curtailed as economic growth probably cannot keep pace with this. Our gov't is no different than a personal borrower, rates are tied to the ability to pay back. At what point do you think it may come about we as a county cannot afford deficits because of the cost of borrowing?

[Yodrak 7]

robinlake,

Being in debt to China isn't the government's doing, it's the private sector's doing. China wouldn't have the money to buy our government-issued securities if our industries didn't buy or produce our manufactured goods over there so that we consumers could enjoy lower prices.

But, true enough that as long as the government keeps spending more than it takes in we have to be in debt to someone.

Yodrak

....

Are conservatives really happy about owing so much money to China?

Carol&Marc,

Yes debt can be avoided, although avoiding it may not allow life to be as enjoyable as we have become accustomed to.

On the other hand, debt can also crimp one's lifestyle. Many people today have forgotten, or never knew, the days when home mortgage rates were in double digits.

Yodrak

.... Debt is very normal and can't be avoided! .... that line about leaving debt for your kids is just there to tug on the old heart strings.

[one...two...tree 2,762]

Steven, did not say the debt decreased, said the deficit was lower under Clinton. Only 6 times in the last 50+ years did the debt actually decrease. I am only implying deficits in the $400-500 billion range need to be curtailed as economic growth probably cannot keep pace with this. Our gov't is no different than a personal borrower, rates are tied to the ability to pay back. At what point do you think it may come about we as a county cannot afford deficits because of the cost of borrowing?

I'm in agreement with you, Doug. The neocon economic philosophy starting with Reagan was to not be concerned about the national debt. Cutting taxes to stimulate the economy by increased consumer spending. I personally see that as problematic - consumer spending. I'd rather see the emphasis on domestic production and the development of new technologies for a stronger economy.

Edited November 10, 2006 by Steven_and_Jinky

[Mr. Big Dog 10,747]

Yes, cutting pork would be good too -- of course, the party which once prided itself on fiscal responsibility oversaw a budget with 15,000 earmarks in 2005, costing $47 billion

Including Senator Stevens' multi-million dollar bridge to nowhere in Alaska.

[eric&gen 0]

Greedy bastards they take enough tax out of my pay check every week as is what more do they want lol.

[Trompe le Monde 1,107]

robinlake,

Being in debt to China isn't the government's doing, it's the private sector's doing. China wouldn't have the money to buy our government-issued securities if our industries didn't buy or produce our manufactured goods over there so that we consumers could enjoy lower prices.

But, true enough that as long as the government keeps spending more than it takes in we have to be in debt to someone.

That is true, but as long as America gets cheap money from abroad its going to be increasingly difficult rebalance our economy. Unless America reduces its deficit before China and other emerging economies lose interest in accumulating reserves, the dollar, Treasury bonds the whole American economy is likely to suffer a hard landing.

[heishe 2]

Come now, when was the budget ever balanced? do you remember what day it was? did it feel any different? Debt is very normal and can't be avoided! Their are things that can occur at any time. Hurricanes,floods,fire take your pick. Dean, that line about leaving debt for your kids is just there to tug on the old heart strings.

Are you kidding? We had a budget surplus under Clinton.