House GOP 'Seriously Entertaining' Debt Default Idea

[Balt]

Originally Posted by TerryMathews

Or we could bring back the CCC. Just saying.

Sounds good to me. There's plenty of work around the country that needs to be done.

[IronWing]

Originally Posted by TerryMathews

Or we could bring back the CCC. Just saying.

In effect, increasing infrastructure spending does that. While infrastructure spending is funneled through contractors instead of direct employment the result is the same: more workers working. Keeping functioning companies working makes more sense to me than directly hiring workers to do the work that those companies exist to do.

[LunarRay]

Originally Posted by IronWing

In effect, increasing infrastructure spending does that. While infrastructure spending is funneled through contractors instead of direct employment the result is the same: more workers working. Keeping functioning companies working makes more sense to me than directly hiring workers to do the work that those companies exist to do.

If we create the demand that demand will be met by existing companies and start up ones. The government is best suited to create the demand and not to create the infrastructure... That which causes the greatest 'trickle about' has my vote.

[TerryMathews]

Originally Posted by LunarRay

Do you accept that if Revenue is on the decline and unemployment is the cause any attempt that seeks to reverse the decline in cause reverses the decline of Revenue? Well.. I guess that is obvious.

How about spending a few more trillion - put to debt - to get the nation's workers to work... does the debt matter if its going to go up in any case and at the end of the economic cycle the ratio of debt/GDP remains constant with historical norms. Which might increase debt the least, in other words.

The fixed component of our spending is fixed for a few reasons. The most important aspect, as I see it, is to insure Social needs.

We harp on passing debt on to our grand kids... I see passing on debt of a constant percentage of GDP is not a burden at all... We can harness spending in areas where it is prudent. Defense for instance... Taxing folks who have tons of money gives psychological feel good to taxing folks who have less... The amount of revenue we get from the bazillion-aires is a pittance... but it makes lots of folks feel good about now paying more for SS and Medicare... It works...

Aside from the aged and disabled I figure all folks should work and have work available to them... (Maybe moms are exempt...) that bit is the job of government... create the demand and then create the philosophy.

What I do not accept is that there is no spending that can be cut that will slow the economic recovery. You cannot tell me with a straight face that every dollar is well spent and essential to the recovery.

If I were emperor for a day, one of the first things I would do is make it so that any person who receives EITC on their taxes cannot have their taxes prepared by a for-profit tax preparation service. At $300-$400 a pop, which is 10% of the average credit this is at least a $3.6b subsidy to the for-profit tax prep industry.

I would also eliminate TSA, and dramatically scale back foreign aid.

We need to cut spending by 10% to roughly balance the budget. Half that would be an improvement. You're honestly saying there is nothing that can be cut?

[LunarRay]

Originally Posted by TerryMathews

What I do not accept is that there is no spending that can be cut that will slow the economic recovery. You cannot tell me with a straight face that every dollar is well spent and essential to the recovery.

If I were emperor for a day, one of the first things I would do is make it so that any person who receives EITC on their taxes cannot have their taxes prepared by a for-profit tax preparation service. At $300-$400 a pop, which is 10% of the average credit this is at least a $3.6b subsidy to the for-profit tax prep industry.

I would also eliminate TSA, and dramatically scale back foreign aid.

We need to cut spending by 10% to roughly balance the budget. Half that would be an improvement. You're honestly saying there is nothing that can be cut?

Nope! I can't... there is plenty of wasted spending...

I'd do away with the EITC but, in a comprehensive tax reform act coupled with a livable minimum wage and contraceptive program produce an incentive to live within the means of one's income. Live and not starve... I don't figure all folks should drive a Vet but they should have public transport available. That kind of thinking.

What I'm saying is that the fix is not in place... what the attempted fix might be given the polarity of Congress is likely to be a mess...

IF we had a Parliamentary form we'd give one side the chance to get it done and if they fail... there is the other side to choose... We'd have that form, in essence, with a same party congress and executive... Do something Congress but don't do something that wont work.... Imagine that....

EDIT: I'd also eliminate gerrymandering... IF a State has six congress persons via the census then they'd run in State wide races with the top six getting the seats... Sorta like the Senate. The responsibilities to the constituents might be an issue that I've not sorted out yet... maybe some form that divides the districts in an unbiased manner... something... but not this latest secure seat crap...

My version of foreign aid is to send money to Jersey... or New York... via DC.

[michal1980]

Originally Posted by LunarRay

Nope! I can't... there is plenty of wasted spending...

I'd do away with the EITC but, in a comprehensive tax reform act coupled with a livable minimum wage and contraceptive program produce an incentive to live within the means of one's income. Live and not starve... I don't figure all folks should drive a Vet but they should have public transport available. That kind of thinking.

What I'm saying is that the fix is not in place... what the attempted fix might be given the polarity of Congress is likely to be a mess...

IF we had a Parliamentary form we'd give one side the chance to get it done and if they fail... there is the other side to choose... We'd have that form, in essence, with a same party congress and executive... Do something Congress but don't do something that wont work.... Imagine that....

EDIT: I'd also eliminate gerrymandering... IF a State has six congress persons via the census then they'd run in State wide races with the top six getting the seats... Sorta like the Senate. The responsibilities to the constituents might be an issue that I've not sorted out yet... maybe some form that divides the districts in an unbiased manner... something... but not this latest secure seat crap...

My version of foreign aid is to send money to Jersey... or New York... via DC.

your a nut case.

[LunarRay]

Originally Posted by michal1980

your a nut case.

No... I don't think I've ever had a nut case so it can't be mine.

[TerryMathews]

Originally Posted by LunarRay

Nope! I can't... there is plenty of wasted spending...

I'd do away with the EITC but, in a comprehensive tax reform act coupled with a livable minimum wage and contraceptive program produce an incentive to live within the means of one's income. Live and not starve... I don't figure all folks should drive a Vet but they should have public transport available. That kind of thinking.

What I'm saying is that the fix is not in place... what the attempted fix might be given the polarity of Congress is likely to be a mess...

IF we had a Parliamentary form we'd give one side the chance to get it done and if they fail... there is the other side to choose... We'd have that form, in essence, with a same party congress and executive... Do something Congress but don't do something that wont work.... Imagine that....

EDIT: I'd also eliminate gerrymandering... IF a State has six congress persons via the census then they'd run in State wide races with the top six getting the seats... Sorta like the Senate. The responsibilities to the constituents might be an issue that I've not sorted out yet... maybe some form that divides the districts in an unbiased manner... something... but not this latest secure seat crap...

My version of foreign aid is to send money to Jersey... or New York... via DC.

I wouldn't have a problem with any of that. Now if we could get the two parties to get some common fucking sense.

I don't mind spending money. I mind wasting it. And I think we waste enough to balance the budget, or close to it.