Pelosi trashes Gibbs

[bfdd]

huh? you're not making any sense. are you implying I'm part of the elite that got those tax cuts? I make 45k a year bud and I'm definitely not a "righty" or "republican."

 

[First]

Sure we may of "lost" potential revenue, but it didn't cost us shit. We didn't even really lose it, it's still there we just aren't earning it. Like I said, why is it "lost" or "cost" when we should of slashed the budget along with the cuts? Nothing was "lost."

No, it's actually lost, as in you lost the opportunity to earn half a trillion dollars. I'm not sure what part of lost you don't understand, since the reality is that you could have stayed with a higher tax rate and earned half a trillion more, or slashed tax rates directly leading to the lost opportunity to pay down the debt. You saying we should have slashed the budget is a mostly meaningless statement when Americans don't want it and neither do politicians, so it's only going to be done at the margins. SS, Medicare, etc. they aren't going away, Americans want those programs, and politicians want to please as many people as possible so they'll institute local, state and federal gov't programs to do it.

 

[bfdd]

No, it's actually lost, as in you lost the opportunity to earn half a trillion dollars. I'm not sure what part of lost you don't understand, since the reality is that you could have stayed with a higher tax rate and earned half a trillion more, or slashed tax rates directly leading to the lost opportunity to pay down the debt. You saying we should have slashed the budget is a mostly meaningless statement when Americans don't want it and neither do politicians, so it's only going to be done at the margins. SS, Medicare, etc. they aren't going away, Americans want those programs, and politicians want to please as many people as possible so they'll institute local, state and federal gov't programs to do it.

you just made my point. you lost the opportunity, you didn't lose the money. you can only lose something you have, not something you may gain. also, why is saying slash the budget meaningless? i believe we should slash the budget i don't really give a fuck what the majority of the usa thinks. i also think we should raise taxes now along with slashing the budget. my thoughts on how the country should be ran wouldn't win me any popularity contests, but maybe that would be a good thing.

 

[waggy]

you just made my point. you lost the opportunity, you didn't lose the money. you can only lose something you have, not something you may gain. also, why is saying slash the budget meaningless? i believe we should slash the budget i don't really give a fuck what the majority of the usa thinks. i also think we should raise taxes now along with slashing the budget. my thoughts on how the country should be ran wouldn't win me any popularity contests, but maybe that would be a good thing.

give up. to many in here won't admit to being wrong if it makes the party look bad.

 

[HendrixFan]

Heh. The financial elite craves US govt securities, and even a balanced budget reduces availability drastically, let alone what surpluses would do. They'd have to actually engage in risk to get a return. Can't have that. And owning the govt of the People limits actions in no small way, makes it a lot more compliant to your wishes...

I had read (forget where) that much of the banks profits following the bailouts was from guaranteed profit by using the money they received to buy treasuries. Once they showed they could profit (easy to do with other people's money and guaranteed returns) their stocks rebounded and the rest of the market followed.

Imagine how things would be if we weren't stealing from our grandkids (deficit spending) in order to pay out interest to the financial elites!

 

[First]

you just made my point. you lost the opportunity, you didn't lose the money.

No, you lost the money. It's called opportunity cost and it's quite well known in finance and economics. Read about it here; http://en.wikipedia.org/wiki/Opportunity_cost

you can only lose something you have, not something you may gain.

If you slash taxes at the end of year 1 you will lose said revenue in year 2, all else equal. You lost this money. It isn't that complicated.

also, why is saying slash the budget meaningless? i believe we should slash the budget i don't really give a fuck what the majority of the usa thinks. i also think we should raise taxes now along with slashing the budget. my thoughts on how the country should be ran wouldn't win me any popularity contests, but maybe that would be a good thing.

You should care since significant budget cuts actually getting done, as in actually being signed into law and enforced, is slim to none and there are lots of good reasons for that. Mostly stemming from Americans lack of trust in gov't but trusting them enough to continue voting for local/state gov't programs and federal programs (at a less consistent pace). It's a long-standing, mind-numbingly contradictory trend, but it's very real. Besides, anyone can say "slash the budget", but it's pretty meaningless without specifics. Where, when, how, why, and who is affected to justify it?