General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsYet More Graphs Showing It's Not Spending, It's Revenues That Are Causing the Problems
??
The Bush tax give-a-ways to the rich remain today the greatest driver of today's national debt. When Republican's wax indignant about todays deficits and blame "out of control spending," call bullshit. Cause that's what you are hearing.
We are spending less per capita today than at any time since 1954, when the top tax rate was 90%. Reagonomics promised us that lower tax rates on the uber rich would produce rapid job creation and increased revenues. What they produced was a decade of no job growth, unprecedented income inequality, massive deficits, and 4 of the last 4 recessions including 2 of the deepest economic downturns in our nation's history, the Reagan Recession of 1982 and the George W. Bush Great Recession of 2007-2009. Again proving the maxim that only two things grow when Republican economic and tax policies are in effect, unemployment and the national debt.
see also: http://bureaucountydems.blogspot.com/p/national-debt.html (see 5th graph)
http://bureaucountydems.blogspot.com/p/history-of-recessions.html
http://bureaucountydems.blogspot.com/p/income-inequality-99-versus-1.html
SammyWinstonJack
(44,130 posts)I want a yard sign of this......
Again proving the maxim that only two things grow when Republican economics and tax policies are in effect, unemployment and the national debt.
It would make my tea party neighbor's head explode!
He thinks reagan was our greatest, bestest prez EVER!
cthulu2016
(10,960 posts)The fact that government in the US is shrinking is a vitally important piece of economic information (That I have posted sevral times and think people must be aware of), but to identify the trend with Obama, as TPM does today, is tit-for-tat dishonestly of a not very useful sort.
Obama has not "overseen" the reduction in state and local government. It is in no way the result of any Obama policy. He has made no effort to contribute to it. (And thank goodness for that.)
If Obama had slashed federal spending while the states went on a tax-and-spend binge and Obama said, "I have cut government," would it be honest for Republicans to say that "under Obama" government had grown?
Valuable, essential data. Has nothing to do with Obama, though.
Wounded Bear
(58,797 posts)"Obama raised taxes/increased the size of gov't" yada, yada, yada.
It isn't that it's not his fault. It's that it didn't happen they way they keep saying it did.
coalition_unwilling
(14,180 posts)budget deficit nor the federal debt, the real problem is an economy that is not utilizing all its resources (8% unemployment). As counterinitutive as it may seem, we need way more spending and tax cuts targeted to the working poor and middle class.
It is spending that is causing the problem -- we are not spending enough (government spending, that is)
mikekohr
(2,312 posts)It is not "out of control spending" driving today's deficits, it is the failure of Tinkle Down Economics to deliver on any of it's promised benefits. Reagonomics has never worked. Not ever. Not once.
Republicans should have an (FU) after their names for their economic ineptitude
?
see also:
National Debt: http://bureaucountydems.blogspot.com/p/national-debt.html
History of Recession: http://bureaucountydems.blogspot.com/p/history-of-recessions.html
Job Growth: http://bureaucountydems.blogspot.com/p/job-growth.html
coalition_unwilling
(14,180 posts)a 'problem' when we have 8% unemployement.
Today's Republicans don't care about people, they only care about profits. Once you internalize that little truth, everything else about them (their apparent economic ineptitude not the least of things), everything else about them falls into place. Seldom if ever in our nation's history has one of the two major political parties organized itself around sociopathy (lack of empathy for fellow citizens).
OK, maybe the antebellum Democrats could be accused of same, but there was a Northern anti-slavery wing of the Democratic Party back in the 1850s. That's the main reason Lincoln won in 1860 - northern and southern Dems split over the issue of limiting the spread of slavery.
4th law of robotics
(6,801 posts)would be nice. Get those unemployed (disproportionately blue-collar workers) back to work, doing something productive. And maybe we can get some nice utility and transportation infrastructure out of it.
mikekohr
(2,312 posts)or Republican obstructionalists in the Senate. Republicans are the cause of our problems and the obstacle to solving them.
Obama and 25 in '12
coalition_unwilling
(14,180 posts)getting paid wages to do so) than have them sitting at home idle without wages.
Utility and transportation infrastructure (think Hoover Dam) would be icing on the cake.
4th law of robotics
(6,801 posts)no need for make-work projects.
Like with the stimulus: why not instead kill a whole flock of birds with one stone. Give taxpayers a rebate, or credit, or however it needs to work out for making improvements to their properties (including labor costs for installation) that make it "greener". So like putting in solar panels, windmills, cisterns, getting new insulation, solar guards, more efficient lights and appliances, double paned windows, etc etc etc.
Maybe cover all the costs up to a certain point then half over that. Doesn't matter if it's private or commercial properties.
That would cut down on the need for imported fuels, reduce pollution, and put a lot of construction workers back to work while flooding the economy with new money (and ensuring greater disposable income for millions of americans for years to come due to reduced utilities, this can then be spent on other things).
Win-win-win.