The Conservative Cave
Current Events => Economics => Topic started by: Chris_ on January 30, 2008, 12:11:27 PM
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Democrat Leaders Say Deficit Spending Needed to Boost Economy
By Josiah Ryan
CNSNews.com Staff Writer
January 30, 2008
On the Spot (CNSNews.com) - The $146-billion economic stimulus package passed by the U.S. House Tuesday is funded with borrowed money, but such deficit spending is necessary "to grow" the economy, according to House Speaker Nancy Pelosi (D-Calif.). Pelosi also told Cybercast News Service that she does not know how long it will take to pay off the borrowed money.
Also on Tuesday, House Majority Leader Steny Hoyer (D-Md.) criticized the Bush administration for the federal deficit but told Cybercast News Service that deficit spending, as with the economic stimulus package, is sometimes necessary.
...so deficit spending for a dim economic project is okay, but deficit spending for national defense is bad. :mental:
MORE (http://www.cnsnews.com/ViewPolitics.asp?Page=/Politics/archive/200801/POL20080130d.html)
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well only in the alternate universe they seem to live in.
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Well....the dims are nothing if not consistant....
doc
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Is there a thread about this in DUmmie land?
Probably not. ::)
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Washington politicians lie all the time. They all know "deficit spending" is never a problem. Not with our constant revolving door treasury.
The US government really does have an endless supply of money. It never stops. I don't know why Washington bothers with the ruse of a budget anymore. It can be spent twice as fast as it come in and there will never be a problem - until it stops. As long as the economy is growing, it will never stop. That's the only crack in the system.
Politicians use "deficit spending" warnings as a way to control the masses, or to try to get the masses to vote a certain way. They know it is something people can misunderstand because the people have the knowledge only of their own money in their lives. Joe Sixpack's money always stops with the last digit on the last paycheck. Joe doesn't get an hourly influx of money like Washington. Joe really does think Washington is just like him and has only a certain amount of money to "live" on. Joe doesn't understand the tax and spend revolving door at all.
That's why Washington gets away with the lie.
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Correct me if I'm but wrong but isn't the current economic malady based on homebuyers assuming debt they could never repay thus leaving banks with worthless paper?
BTW - I once saw a political cartoon about FDR when he began advancing Keynesian economics and how deficit spending was supposedly good. FDR was dancing around a maypole singing, "We owe it to ourselves!"
It seems the dems have not moved-on after 70 years of failed economic policy and deepening debt.