Deficit Spending is the Problem

Every man, woman & child is $53,201 in debt to the US Government as of October, 2013.

What would happen if the government sent out itemized tax bills like this every year:

You owe:
$2,000 Obamacare
$2,000 Iraq War
$2,000 DHS
$2,000 Bank Bailouts
$2,000 Car Bailouts
$2,000 Stimulus

How long before there was a revolution in this country?

Instead money is printed by a private bank - the Federal Reserve Bank to fund these programs putting us further in debt & nobody say's a word.

What a racquet they have going - both sides of the aisle.

Debt.

Figure out how many people actually pay taxes, then recalculate. Mindblowing.

OccamsRazor04
Figure out how many people actually pay taxes, then recalculate. Mindblowing.

It is actually much higher - just being conservative - who knows what the actual figure is 300K?

It's disgusting whatever the real figure is.

reply to post by BABYBULL24

Dear BABYBULL24,

This may be a slight adjustment to your headline, but I don't think deficit spending is a problem. To balance it, and even create a surplus, the government could just raise taxes, borrow more, and print more money. May I suggest that the amount of total spending may be the problem?

With respect,
Charles1952

reply to post by BABYBULL24


I don't know what the real figure is but I am disheartened by the financial status of this country in present times.

reply to post by charles1952


True

Remind me again just how much the Pentagon couldn't account for a few years back?
Granted we are paying the interest on the debt yearly however I wonder just how many wonderful things this country could be accomplishing if that money went towards things like college tuition for all Americans who want to get an education. Now, I'm of the crowd that doesn't believe in hand outs but a hand up. Or for the Space program, Medical research etc....

Deficit spending is that back bone of capitalism and evey succesful company in the US. Your not suggesting that capitalism is bad are you?

MrSpad
Deficit spending is that back bone of capitalism and evey succesful company in the US. Your not suggesting that capitalism is bad are you?

No it's not. Where do you get that idea?

MrSpad
Deficit spending is that back bone of capitalism and evey succesful company in the US. Your not suggesting that capitalism is bad are you?

Deficit spending is Keynesianism?

Keynesian economics

reply to post by MrSpad


Yeah its bad I know you are no fool either but I still think debt based economy is kind of IDK $hitty I guess most of us do to though

I think a do nothing house of representatives is the problem.

Brotherman
reply to post by MrSpad

 

Yeah its bad I know you are no fool either but I still think debt based economy is kind of IDK $hitty I guess most of us do to though

What does that have to do with his assertion capitalism is debt based? It isn't.

reply to post by OccamsRazor04


Consider also the rationality of creating loopholes and other ways ("incentives") for deep pocket entities to avoid paying their taxes...

reply to post by BABYBULL24


Couldn't even bear to hear what the UK figure is.

However, I think the Central Banking system is to blame for their greed and its well time to be rid of this system and put the money printing back into the hands of each country's treasury department in order to make these people accountable to the people they exploit. People sitting in ivory towers stuffed full of money from exploitation need to be accountable and we have not held one accountable. In fact if I am not mistaken have not some of the countries that have been turned into chaos been those that do not have the central banking system, albeit now amidst the chaos they do. Even the minions who work in the big banks are still under this tiny specific group and these are the ones we need in the good old Stocks.

reply to post by Panic2k11


I replied saying capitalism is not founded on the idea of accruing debt. I am not sure where you are going with that, it doesn't seem to have much to do with what I was posting about.

reply to post by OccamsRazor04


I dont deny this but if you are insinuating this is ok then I am at a loss of words. Why challenge my statement to MrSpad I was clearly not addressing you. Since you want to engage me what exactly is it that bothers you about what I had to say? Are you happy in a debt based economy? Are you happy and brag to your friends about your credit score or something? I clearly wasn't addressing you but thank you for your input.

B-Man

And yeah it is based on debt

Deficit spending is directly related to idk economics and is quite a controversial topic as well

reply to post by Brotherman


Please show me a source where CAPITALISM is founded on debt based economics.

Since his post was that CAPITALISM is wrong because it MUST BE debt based.

This is 100% untrue. It's like saying socialism is wrong because you must keep your citizens impoverished and control all information they receive based on the fact NK currently does that.

It's a flat out blatant lie and I called him on it, and if you want to repeat it I will call you on it too.

reply to post by OccamsRazor04


Title of Thread: DEFICIT SPENDING IS THE PROBLEM

"Deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit; the opposite of budget surplus. The term may be applied to the budget of a government, private company, or individual.
Government deficit spending is a central point of controversy in economics, as discussed below..."

Link

"Governments around the world spend more than they earn. They make up for the difference by borrowing money. The US government is no different on this front. The only trouble is that it is not allowed to borrow beyond a certain limit. This limit is referred to as the debt ceiling and till yesterday was set at $16.69 trillion. If the bill suspending the debt ceiling had not been passed, the US government would not have been able to borrow more. And given that it would have become difficult for it to meet its expenditure from its income. Today, i.e. October 17, 2013, the US government will have around $28 billion of cash on hand. The treasury secretary Jack Lew had suggested in early October that expenditure of the US government on certain days could touch even $60 billion.

Read more at: www.firstpost.com..."


Whats the difference yes my friend the government wants to butt F#ck you cause you are not a part of there clan. We do not have to argue.


"cap·i·tal·ism noun ˈka-pə-tə-ˌliz-əm, ˈkap-tə-, British also kə-ˈpi-tə-
: a way of organizing an economy so that the things that are used to make and transport products (such as land, oil, factories, ships, etc.) are owned by individual people and companies rather than by the government"

Link

"Every man, woman & child is $53,201 in debt to the US Government as of October, 2013.

What would happen if the government sent out itemized tax bills like this every year:" (from first line in the OP)

You say capitalism I give the definition that part about rather than by the government seems to be in a direct roadblock to your statement to me. We do not have to argue if you disagree, I did take the time to read what you had to say and make no other claims to deny or say you are wrong.


Also wanted to add your psychic failure thread was awesome

reply to post by Brotherman


Your definition.
"cap·i·tal·ism noun ˈka-pə-tə-ˌliz-əm, ˈkap-tə-, British also kə-ˈpi-tə-
: a way of organizing an economy so that the things that are used to make and transport products (such as land, oil, factories, ships, etc.) are owned by individual people and companies rather than by the government"

This is the post you and I were responding to.

MrSpad
Deficit spending is that back bone of capitalism and evey succesful company in the US. Your not suggesting that capitalism is bad are you?

What in your definition has ANYTHING to do with deficit spending being the back bone of capitalism? Please show me. Because you responded to his post in agreement.

Or, you can say, yes he was way off and his post was ridiculous, I have no idea why I agreed with it. I meant to say the way our current economy works and accrues debt is disgusting. Then I will say I agree, and that's NOT how capitalism should work, and we need to change it, and fix it.

Because the post you replied to and agreed with was saying capitalism is a sinking ship that MUST accrue debt and capitalism needs to end.

I believe me and you are in agreement with the OP. I was not, and am not, attacking you, I think there was a miscommunication. Capitalism has been hijacked, and the result is that our future is being mortgaged away. Capitalism is not the problem, the hijackers are.

reply to post by OccamsRazor04


I said, it is still a debt based economy and I think it is $hitty (to MrSpad). Do you like a debt based economy? Do you like it when the government borrows money from a private bank that not only cannot generate money on their own without them?