Quote:
Originally Posted by classicman
Regarding the deficit ... That should have been a priority 5-10 years ago.
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It was. The solutions were in place. The 30 years Treasury Notes were discontinues because government no longer had to borrow as much money. And the solution, if left in place in 2000, would have solved the deficit.
Then some fool said tax cuts (money games) create economic wealth. As Buffet said, the only real tax cut is one that cut spending. So wackos increased spending massively, gave welfare to the rich, and reduced the American income by 2% from 2000 to 2008. Welcome to the resulting job losses today.
We discussed this almost ten years ago - the Kennedy tax cuts. The spin was Kennedy cut taxes to boost the economy. Spin works on those who believe only what they are told to believe. Posted was the reality. Those Kennedy tax cuts cause an economic boost - followed by recession in the Johnson administration. That is what tax cuts really do. Massively increase debts that result in recession and job losses four and more years later. And still so many know tax cuts are good because extremist politicians said so.
Learn from reality. The deficit was being solved. Then wacko politicians decided to 'fix' the economy. They were so dumb as to even recommend putting social security into the stock market.