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swamptiger

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swamptiger last won the day on January 14

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About swamptiger

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  1. What you obviously don't understand is deficits are not moderate. Economic growth is much slower than the climb of the debt to GDP ratio. https://fred.stlouisfed.org/series/GFDEGDQ188S Also, several foreign countries have scaled back purchases of treasuries, increasing yields, and putting upward pressure on interest rates. If interest rates rise, (as they naturally should) interest on the debt increases, and the effect would be to put even more pressure on trying to maintain a balanced budget. Here's that pesky $9 trillion figure again - quoted from St. Louis Fed: If the increase in yields is a result of the pullback, then foreign demand might be crucial in keeping a cap on borrowing costs. This implication is especially important if the U.S. national debt increases by $9 trillion over the next decade as projected.2
  2. Got it. Don't forget Black Bart on July 25th..
  3. If 100+ percent debt to GDP is "moderate", what would you call excessive?
  4. Looks like they might be prepping Rick Nolan for governor. If that happens, just watch how long it takes him throw the Iron Rangers under the bus.
  5. Ted can deliver a really good old-fashioned fire and brimstone sermon, so he's useful for the GOP to keep around.
  6. Thanks to Ufatz, I didn't have to make a wasted trip to my mailbox today...
  7. D2E said he would assume responsibility..
  8. There's that 9 trillion figure again. Must be fake news.
  9. Can you provide any empirical evidence that they are harmful?
  10. Now, the GOP's budget reconciliation proposal would add 9.7 trillion. But somehow, it is way better now.. Hypocrites and frauds. It's moot because it wouldn't make any difference.
  11. The MMT economist would reply that Greece doesn't have the ability to simply print their way out of the problem, since they are a member of the EU.
  12. Lifted from Paul Ryan's web page: A Balanced Budget For A Stronger America: The Fiscal Year (FY) 2016 Budget Resolution It has been more than six years since the financial crisis rocked our nation's economy, but the fiscal challenges our nation still faces are innumerable. Economic growth is underwhelming, families' homes remain in foreclosure, paychecks cannot keep up with rising costs, students continue to struggle with skyrocketing tuition, and millions of hardworking taxpayers are seeing their medical costs increase as a result of President Obama's health care law. Regrettably, the President and his party have turned to more taxes, more spending, and more regulation in an attempt to address these issues. The President demonstrated his inability to put forth real solutions to our nation's most pressing fiscal problems with the submission of his FY 2016 budget proposal to Congress. Budget proposals help resolve conflicting judgments about our nation's priorities. They also serve to help reconcile divergent views of our country's future. In this sense, it is clear that the President's priorities are to tax more, spend more, and regulate more. His budget calls for a $2.1 trillion increase in taxes, a $2.4 trillion increase in spending, and would add $8.5 trillion dollars to the debt between FY 2016 and FY 2025. Furthermore, the President's budget does not balance – ever. Conversely, House Republicans have introduced and passed budget resolutions for five consecutive years that would tackle the looming debt crisis and restore economic growth. The budget that was introduced for FY 2016 by Budget Committee Chairman Tom Price, "A Balanced Budget for a Stronger America," is a serious budget that addresses our needs and our overwhelming debt by achieving balance, repealing the Affordable Care Act, ensuring a strong national defense, and cutting waste while improving accountability. In stark contrast to the President's budget, the "Balanced Budget for a Stronger America" would balance in less than 10 years. In addition to achieving balance, it would cut $5.5 trillion in federal spending and call for a fairer, simpler tax code that would promote job creation. It would also place the country on a path to pay off the national debt by growing the economy and making government more efficient, effective, and accountable. Most importantly, it would accomplish all of this without raising taxes. This budget also offers a full repeal of the Affordable Care Act (ACA), which has cost millions of hardworking taxpayers their insurance and spends trillions of dollars that we do not have. It would repeal all of the ACA's taxes, regulations, and mandates, and return the balance of power to patients when it comes to making decisions regarding their healthcare. Lastly, it would eliminate the Independent Payment Advisory Board (IPAB), a group of unelected, unaccountable bureaucrats responsible for making cost-cutting decisions that will lead to restricted access to critical care for seniors on Medicare. A priority of this budget is to ensure that our military has the funds needed to train, equip, and fairly compensate the brave men and women who serve our country, while also ensuring that the interests of the United States, both abroad and here at home, are furthered. In a world as volatile as ours, it is imperative that our national defense has the resources it needs. The Republican budget boosts defense spending above the President's levels while putting in place a plan to responsibly address the current spending caps and the threat of sequester. Lastly, the "Balanced Budget for a Better America" would secure our future by strengthening Medicare. It would accomplish this by ending the ACA's $716 billion raid on Medicare, making structural improvements to Medicare to make sure it is available for future generations, eliminating the "double dipping" of Disability Insurance and Unemployment Insurance, and preventing the President's plan to raid the regular Social Security Trust Fund. This budget came before the House on March 26, 2015, and was passed with my support by a vote of 228 to 199. I was encouraged that my colleagues chose to support a budget that would result in common-sense spending restraints and much-needed economic growth. Ultimately, a budget is more than just a list of numbers: it is an expression of our governing philosophy. This budget offers the American people a brighter future. It would stop spending money we do not have, create jobs, and expand economic opportunity. What a joke..
  13. More like an apologist for big government spending. Would "empirical evidence" really change your mind?
  14. What difference do numbers make if there is no limit on spending? Why even bother with numbers or a budget at all if it is not harmful, as you suggest? As far as that goes, why not just forget about dollars, and call them bearlars or bitcoins?