US Debt equals size of US economy

[reasonfreedom]

" but only if the economy booms."

Looks like he is trying lay down some cover, since his unemployment guess blew up. I think he needs better analyst working for him.

[billisonboard]

[reasonfreedom]

Clinton didn't reduce the debt, the GDP growth from the internet boom did. If the internet boom had happened on any other presidents watch the same thing would have happened.

[billisonboard]

Feb 21, 2011 8:31:40 GMT -5 Ratchets said:

Feb 21, 2011 8:27:19 GMT -5 reasonfreedom said:

Clinton didn't reduce the debt, the GDP growth from the internet boom did. If the internet boom had happened on any other presidents watch the same thing would have happened.

Not to mention the pillaging of social security funds that he did. the bill for that one will come due long after he's gone though, so guess that makes it all ok.

Good explanations for the Clinton years. He shouldn't be let off the hook.

Now the Reagan/Bush I and Bush II years?

[reasonfreedom]

Feb 21, 2011 8:45:38 GMT -5 billisonboard said:

Feb 21, 2011 8:31:40 GMT -5 Ratchets said:

Not to mention the pillaging of social security funds that he did. the bill for that one will come due long after he's gone though, so guess that makes it all ok.

Good explanations for the Clinton years. He shouldn't be let off the hook.

Now the Reagan/Bush I and Bush II years?

I am making no excuse for them. Reagan went it with correct ideas, but just like every other politician he couldn't hold fast to his ideals. Bush I and Bush II were both horrible. Bush II I think is by far the worst president we ever had, the sad thing was the people of the U.S. voted him in twice.

[jkapp]

And Obama is still calling for a "scalpel" to be used on the budget...wasn't it just a couple of years ago that he and the other Dems were complaining about Bush's spending? And yet he spends four times as much while refusing to make major cuts? So what was all the complaining about - it sounds like they are two peas in the same pod...

[reasonfreedom]

I think Obama is on the same path as Bush II. Fortunate for him he didn't have to start any unconstitutional wars, even though I don't think is much of a constitutionalists.

[Savoir Faire-Demogague in NJ]

I think Obama is on the same path as Bush II. Fortunate for him he didn't have to start any unconstitutional wars, even though I don't think is much of a constitutionalists.

Seems to me that the vote in congress was nearly unanimous on the vote to go to war. Thus going to war in the middle east was and is indeed contitutional.

[rockon]

While so many focus on the battle in Wisconsin most don't even make the connection that the cost of our current debt has a lot to do with what can be spent for education and other essential services. As the cost for this debt increases there will be even less dollars available for spending on these services. Our debt is the biggest threat to this nation so everyone who voted against Bush should be demanding the resignation of Obama. We can no longer afford to play footsie with this issue. We all need to accept a lower standard of living until we are back on solid financial ground. And that includes public workers who got increases the last few years while almost everyone else was taking reductions.

[reasonfreedom]

Feb 21, 2011 10:42:12 GMT -5 Savoir Faire-Demogague in NJ said:

I think Obama is on the same path as Bush II. Fortunate for him he didn't have to start any unconstitutional wars, even though I don't think is much of a constitutionalists.

Seems to me that the vote in congress was nearly unanimous on the vote to go to war. Thus going to war in the middle east was and is indeed contitutional.

Congress voting on something doesn't make it constitutional, an amendment to the constitution makes it constitutional.

[reasonfreedom]

"To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years"

"To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions"

I think since the war defies these statements, it makes it unconstitutional.

[reasonfreedom]

"To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water"

I don't believe we had any letters of marque and reprisal dealing with the war either.

[Savoir Faire-Demogague in NJ]

Congress voting on something doesn't make it constitutional, an amendment to the constitution makes it constitutional.

In order to go to war congress has to vote on it. That is the law.
Get over it.

As noted here, Article One, Section 8:
en.wikipedia.org/wiki/Declaration_of_war_by_the_United_States

[AgeOfEnlightenmentSCP]

The Repbulicans cannot save us. The boldest proposal- which will never see the light of day- is Rand Paul's modest $500 billion cut. If you can do math, you'll quickly realize that this is LESS THAN ONE THIRD of Obama's projected deficit. We need to IMMEDIATELY cut $1.67 trillion.

What is it we tell people on YM about getting out of debt? First stop borrowing. Time to stop making excuses, stop kicking the can down the road, and STOP borrowing money TODAY.

[AgeOfEnlightenmentSCP]

I do NOT believe the President should have the power to initiate military action for ANY period of time without the approval of Congress. The military has standing orders to defend the country, and the right to defend themselves so I don't buy the argument that the President needs this authority for ANY reason. That being said, I don't get hung up on the wording-- an "authorization to use force" is in effect a declaration of war. You can call it what you want, but it's still Constitutional, it's still a declaration of war. The Congress has met the Consitutional requirement of declaring war whenever they vote to give the President the power to use military force.

[rockon]

palmbeach, Your exactly correct. If we can not balance the current budget what chance is there of us making any significant reduction to our national debt?

[hello fromWarsaw]

Thanks for the DEPRESSION, Pub Dupes! And ruining the recovery...
BTW, the debt is 85% of GDP, and you changed the way of figuring it. The article also says Pub Govs LIE EXAGERATE their debt and are ALSO responsible per tax cuts on rich and corps. Pfffft! Pub dupes!

[Politically_Incorrect12]

Nobody really wants to cut until it hurts, and when the cuts are forced, people will be angry that the government "didn't do something sooner."

[rockon]

Hello, Your previous post is just another example of blaming a party instead of addressing the problem. Anyone who has opened their eyes should be able to see that this crisis was not caused only by the Republicans or is not going to be fixed only by the Democrats. This problem is a result of the collective corruption and inabilities of these two parties and can only be fixed by the voter demanding better accountability and responsible action from them.