If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(CBS News)   Paul Ryan: "There is no debt crisis" Congrats on losing the conservative vote in 2016, schmuck   (cbsnews.com) divider line 165
    More: Followup, debt crisis, Amy Klobuchar, Erskine Bowles, Boehner, global currency  
•       •       •

3878 clicks; posted to Politics » on 17 Mar 2013 at 5:52 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



165 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

Archived thread

First | « | 1 | 2 | 3 | 4 | » | Last | Show all
 
2013-03-17 08:30:52 PM  
Welp, he is supposedly the "wunder-kinder" of the GOP. He also helped the worst Presidential candidate in 40 years get his ass kicked.

This guy is a gift that keep on giving.

/I am FOR SHAME Fark,
//Nobody posted his shiatty workout PR pics.
///I am disappoint, son.
 
2013-03-17 08:37:06 PM  

dickfreckle: What disturbs me, as many have noted, is that Ryan is touted as the "numbers guy." His supporters consider him the Nate Silver of budgets. Well, I suppose it's easy to fool your constituents when no one bothers to do the simple math in their heads before deciding for or against it.


It's theater. Nobody wants to see numbers- numbers are boring.
 
2013-03-17 08:53:44 PM  

DamnYankees: OgreMagi: Anyone who claims we can continue to go deeper into debt with no consequences has obviously not been paying attention to history or current world events.  Multiple countries in Europe believed they could spend forever and are now discovering how untrue that is.  Greece, Spain, Italy, Cyprus, etc.  They're all farked.

At the moment Germany is paying to keep the EU from completely falling apart, but they're starting to get annoyed at having to pay for everyone else's mistakes.  Trust me, you don't want to annoy the Germans.  That never ends well.

We're heading down the same road as the EU.

It's very rare for someone to display such a confidence misunderstand of monetary economics. I'm EXTREMELY impressed.


Fun Fact: We're 5th in the world expected to go belly up, guess who 1-4 is: Greece, Spain, Ireland, (this one is a little more obscure) Japan, and then us.  USA, USA, USA.  This is according to the Sovereignty Vulnerability Index.
 
2013-03-17 08:53:44 PM  

quatchi: Paul Ryan: "It's not as if we woke up the day after the election and said let's change our principles turn them in and throw in with government run healthcare"

More's the pity.

"Not a retread"? A "responsible balanced budget"?  A "Vision document"?

Repealing Obamacare, cutting taxes, cutting spending in the middle of a weak recovery?

[ohwaityou'reserious]

No debt crisis... yet?

When Ryan says that it sounds like a threat.


We're living in a world where Congressional Republicans declared ON PUBLIC RECORD that their #1 mission was to make President Obama a one-termer and literally held the economy hostage to advance their agenda. We passed "sounds like" over a year ago.
 
2013-03-17 08:54:49 PM  

m00: ..the tea party has actual principles (agree or disagree with them) and they can't be convinced by the media to change their deeply held beliefs whenever it suits the party.


Where were the Tea Party and those "deeply held beliefs" prior to January of 2009?
 
2013-03-17 08:55:11 PM  

TheDarkSaintOfGin: Fun Fact: We're 5th in the world expected to go belly up, guess who 1-4 is: Greece, Spain, Ireland, (this one is a little more obscure) Japan, and then us.  USA, USA, USA.  This is according to the Sovereignty Vulnerability Index.


Cite?
 
2013-03-17 08:55:23 PM  

NewportBarGuy: OgreMagi: Anyone who claims we can continue to go deeper into debt with no consequences has obviously not been paying attention to history or current world events.  Multiple countries in Europe believed they could spend forever and are now discovering how untrue that is.  Greece, Spain, Italy, Cyprus, etc.  They're all farked.

At the moment Germany is paying to keep the EU from completely falling apart, but they're starting to get annoyed at having to pay for everyone else's mistakes.  Trust me, you don't want to annoy the Germans.  That never ends well.

We're heading down the same road as the EU.

Do any of those countries possess the Reserve Currency? No.
Do any of those countries have the economic might of the US? No.
Do any of thos...

Jesus. Stop regurgitating sh*t you hear on talk radio. It's just sad.


"We're invincible so we can ignore economic realities".   If you represent the majority thinking, we are so screwed.
 
2013-03-17 08:56:06 PM  

TheDarkSaintOfGin: DamnYankees: OgreMagi: Anyone who claims we can continue to go deeper into debt with no consequences has obviously not been paying attention to history or current world events.  Multiple countries in Europe believed they could spend forever and are now discovering how untrue that is.  Greece, Spain, Italy, Cyprus, etc.  They're all farked.

At the moment Germany is paying to keep the EU from completely falling apart, but they're starting to get annoyed at having to pay for everyone else's mistakes.  Trust me, you don't want to annoy the Germans.  That never ends well.

We're heading down the same road as the EU.

It's very rare for someone to display such a confidence misunderstand of monetary economics. I'm EXTREMELY impressed.

Fun Fact: We're 5th in the world expected to go belly up, guess who 1-4 is: Greece, Spain, Ireland, (this one is a little more obscure) Japan, and then us.  USA, USA, USA.  This is according to the Sovereignty Vulnerability Index.


Let me correct myself... Just looked it up, its been updated since I got my data: Greece, Japan, Portugal, Ireland, USA.  At least we're holding steady?
 
2013-03-17 08:56:46 PM  
I'm convinced he has no interest in ever running for national office again.  He wants the Speakership after Boehner gets ousted.  Nobody that wants to be a Republican nominee for president makes a farkup this stupid.
 
2013-03-17 08:57:31 PM  

DamnYankees: OgreMagi: Anyone who claims we can continue to go deeper into debt with no consequences has obviously not been paying attention to history or current world events.  Multiple countries in Europe believed they could spend forever and are now discovering how untrue that is.  Greece, Spain, Italy, Cyprus, etc.  They're all farked.

At the moment Germany is paying to keep the EU from completely falling apart, but they're starting to get annoyed at having to pay for everyone else's mistakes.  Trust me, you don't want to annoy the Germans.  That never ends well.

We're heading down the same road as the EU.

It's very rare for someone to display such a confidence misunderstand of monetary economics. I'm EXTREMELY impressed.


Having seen you express your lack of intelligence in past posts, I am confident that if you criticize anything I say, I'm right on the money.  Basically, if I do the opposite of what you say, I'm safe.
 
2013-03-17 08:58:43 PM  
Itt: people who think printing money is equivalent to creating wealth.

Having the reserve currency is nice, but it is in no way a permanent thing that allows you to run massive deficits forever. Eventually you get called out on it, and when that happens it is going to be very painful.
 
2013-03-17 09:03:51 PM  

MattStafford: Eventually you get called out on it, and when that happens it is going to be very painful.


"Eventually" can be a rather long period of time.

//Still waiting for "Eventually" to hit Japan's economy,
 
2013-03-17 09:05:22 PM  

Karac: unicorn farts


img.izismile.com
 
2013-03-17 09:07:46 PM  

TheDarkSaintOfGin: TheDarkSaintOfGin: DamnYankees: OgreMagi: Anyone who claims we can continue to go deeper into debt with no consequences has obviously not been paying attention to history or current world events.  Multiple countries in Europe believed they could spend forever and are now discovering how untrue that is.  Greece, Spain, Italy, Cyprus, etc.  They're all farked.

At the moment Germany is paying to keep the EU from completely falling apart, but they're starting to get annoyed at having to pay for everyone else's mistakes.  Trust me, you don't want to annoy the Germans.  That never ends well.

We're heading down the same road as the EU.

It's very rare for someone to display such a confidence misunderstand of monetary economics. I'm EXTREMELY impressed.

Fun Fact: We're 5th in the world expected to go belly up, guess who 1-4 is: Greece, Spain, Ireland, (this one is a little more obscure) Japan, and then us.  USA, USA, USA.  This is according to the Sovereignty Vulnerability Index.

Let me correct myself... Just looked it up, its been updated since I got my data: Greece, Japan, Portugal, Ireland, USA.  At least we're holding steady?


STILL old data.. ANYWAY-

here's how its judged-  https://www2.blackrock.com/webcore/litService/search/getDocument.seam ? venue=PUB_IND&source=GLOBAL&contentId=1111142235

to be honest, I can't find anything beyond my own notes from the seminar I attended on rankings, that I'll concede.  I do know that particural lecture was given by one Dr. Clay Moffett.  Take it or leave it.
 
2013-03-17 09:25:05 PM  

MattStafford: Eventually you get called out on it, and when that happens it is going to be very painful.


Eventually we're all dead. This is not a useful metric.
 
2013-03-17 09:26:08 PM  

TheDarkSaintOfGin: DamnYankees: OgreMagi: Anyone who claims we can continue to go deeper into debt with no consequences has obviously not been paying attention to history or current world events.  Multiple countries in Europe believed they could spend forever and are now discovering how untrue that is.  Greece, Spain, Italy, Cyprus, etc.  They're all farked.

At the moment Germany is paying to keep the EU from completely falling apart, but they're starting to get annoyed at having to pay for everyone else's mistakes.  Trust me, you don't want to annoy the Germans.  That never ends well.

We're heading down the same road as the EU.

It's very rare for someone to display such a confidence misunderstand of monetary economics. I'm EXTREMELY impressed.

Fun Fact: We're 5th in the world expected to go belly up, guess who 1-4 is: Greece, Spain, Ireland, (this one is a little more obscure) Japan, and then us.  USA, USA, USA.  This is according to the Sovereignty Vulnerability Index.


And at least a couple of those countries ahead of us tried austerity...which made their problems worse. Because you don't farking carelessly gut government spending in a bad economy.
 
2013-03-17 09:27:19 PM  

OgreMagi: Having seen you express your lack of intelligence in past posts, I am confident that if you criticize anything I say, I'm right on the money.  Basically, if I do the opposite of what you say, I'm safe.


Always glad to help.
 
m00
2013-03-17 09:29:36 PM  

The Why Not Guy: Where were the Tea Party and those "deeply held beliefs" prior to January of 2009?


Marginalized by the mainstream media. A lot of conservatives were unhappy about Bush's spending. You just didn't hear about it on FOX or MSNBC.
 
2013-03-17 09:39:12 PM  

KarmicDisaster: Now what.


Fish tacos with a side of black beans, Mexcian rice and a Shiner
 
m00
2013-03-17 09:39:44 PM  

NewportBarGuy: OgreMagi: Anyone who claims we can continue to go deeper into debt with no consequences has obviously not been paying attention to history or current world events.  Multiple countries in Europe believed they could spend forever and are now discovering how untrue that is.  Greece, Spain, Italy, Cyprus, etc.  They're all farked.

At the moment Germany is paying to keep the EU from completely falling apart, but they're starting to get annoyed at having to pay for everyone else's mistakes.  Trust me, you don't want to annoy the Germans.  That never ends well.

We're heading down the same road as the EU.

Do any of those countries possess the Reserve Currency? No.
Do any of those countries have the economic might of the US? No.
Do any of thos...

Jesus. Stop regurgitating sh*t you hear on talk radio. It's just sad.


Well, I'll tell you my theory.

So in the US situation, the worst scenario we could face is hyper massive inflation. We wouldn't go "bankrupt" we would just have worthless currency and other countries would stop buying our bonds, and stop using the USD as the reserve currency. You would have $100 for a double cheeseburger at McDonalds.

The 1% that are funding political campaigns actually want this, and are actively seeking this outcome. They're invested offshore and in illiquid assets such as property, stock of international companies, and so forth. Instruments that will weather a massive devaluation of US currency. And even if it not, doesn't matter... if your 500 million dollars is suddenly worth 100 million dollars, doesn't matter to your lifestyle. The reason they want this to happen is basically to make the rest of us economic slaves. Regular people will have to sell their houses, get rid of their cars, live in tiny apartments and eat rice and beans. It will "save the environment" because the 99% will have no carbon footprint, and the 1% will still be flying around on private jets paid for by tax loopholes unavailable to you. The 1% then have infinite power. Right now, they control all the "stuff" and have gold plated yachts, but "regular people" still have autonomy. They see power and wealth has a zero-sum game and won't stop until we're all literal slaves, because then they "win."
 
2013-03-17 09:39:49 PM  

OgreMagi: "We're invincible so we can ignore economic realities". If you represent the majority thinking, we are so screwed.


Economic realities. Yeah. Define that for me.
 
2013-03-17 09:42:37 PM  

m00: Well, I'll tell you my theory.

So in the US situation, the worst scenario we could face is hyper massive inflation.


How could a nation with the Reserve Currency and debt to GDP at a manageable level, reach hyper-inflation?

You're talking about 1000% inflation on a weekly basis. So, where the f*ck are you pulling that from?
 
2013-03-17 09:43:29 PM  

NewportBarGuy: Economic realities. Yeah. Define that for me.


The quantified finite resources that have static numbers attached to them at the moment you begin planning. Like, we have $100 in the bank right now, we know we can make 1000 widgets this year to sell for between $1-$3 in the next 6 months, and this is what we know we have when we start planning.
 
2013-03-17 09:43:33 PM  
WTF?   GOPers have been screaming about out of control spending and the debt crisis so much that they've been wetting their pants for ages.  Do they even listen to themselves when they talk?
 
2013-03-17 09:45:40 PM  

m00: The 1% that are funding political campaigns actually want this, and are actively seeking this outcome.


Are you insane? You think it its the donor class that is AGAINST austerity?
 
2013-03-17 09:45:58 PM  

GodsTumor: Debt, what debt?
This is just a clever ruse to elect another Bush. JEBBY!


Don't ever say that. Not even as a joke.
 
2013-03-17 09:46:26 PM  

Generation_D: Because People in power are Stupid: The cost of the Iraq war was  $3.2 to 4 trillion.
Did we sell war bonds to pay for this like in WW2? Did we ask Americans to sacrifice, to do without nylon or steel?

No, we gave the richest Americans a Tax Cut.

So when Ryan says stuff like:

"So we do not have a debt crisis right now, but, we see it coming. We know it's irrefutably happening"

It was caused by him. He knows it's real because he helped make it happen.

Pretty much this. The Republicans are 100% responsible for the sh*t they now think is a crisis. None of it WAS a crisis until Obama was elected, after 8-10 years of running up the debt. Eff those guys and eff them forever. Eff you if you vote for one.


You're kidding yourself if you think that the Dems haven't sold their souls to the defense contractors, too. I didn't see them voting against war spending and the development of new weapons.
 
2013-03-17 09:52:31 PM  

DamnYankees: MattStafford: Eventually you get called out on it, and when that happens it is going to be very painful.

Eventually we're all dead. This is not a useful metric.


A policy will eventually destroy the country. In your view, we should continue that policy because, hey, it was going to happen eventually.
 
2013-03-17 09:55:12 PM  

doofusss: would love the oportunity to stab him


no, you wouldn't.  you're not a rightwing shiat.
 
2013-03-17 09:56:44 PM  

MattStafford: A policy will eventually destroy the country. In your view, we should continue that policy because, hey, it was going to happen eventually.


The death of the sun is eventually going to destroy the world. WHY AREN'T WE SENDING ROCKETS TO THE SUN LIKE IN THAT MOVIE SUNSHINE WITH THAT DUDE FROM THAT OTHER MOVIE?!?
 
2013-03-17 09:57:05 PM  

Bennie Crabtree: The quantified finite resources that have static numbers attached to them at the moment you begin planning. Like, we have $100 in the bank right now, we know we can make 1000 widgets this year to sell for between $1-$3 in the next 6 months, and this is what we know we have when we start planning.


OK, now multiply that by a trillion. The government is not a business and we can "print" forever as long as we are the Reserve Currency. There is no quantification of the dollar. We have no idea how much we can print but we've come nowhere near the edge.
 
2013-03-17 09:57:37 PM  

MattStafford: DamnYankees: MattStafford: Eventually you get called out on it, and when that happens it is going to be very painful.

Eventually we're all dead. This is not a useful metric.

A policy will eventually destroy the country. In your view, we should continue that policy because, hey, it was going to happen eventually.


The policy of 'Give the 1%  every cent we can squeeze out of the middle and lower classes' (also known as 'supply-side economics') will destroy America a HELL of a lot quicker than the national debt.

And of course, all this biatching ignores the fact that the deficit (and thus the debt) skyrocketed under Reagan, Bush, and Bush Jr., while Obama and Clinton shrank the deficit quite a bit, and Obama continues to do so at a ridiculous rate. Republican administrations and their policies are demonstrably, and significantly, worse for the economy. The sooner we get them the fark OUT of government, the sooner America can recover from them.
 
2013-03-17 10:09:35 PM  

DamnYankees: You think it its the donor class that is AGAINST austerity?


I try to think of it this way,

If I push the public sector towards a surplus (which means its printing/creating less money), where would the other sectors of the economy go to for funding? (Maybe to the sector that has surplus funds to lend. And I can rule out households and the trade account.)

//During the Clinton surplus you had a public sector surplus, a surplus among firms, a deficit among households, and a large trade deficit.
//The "donor class" made off pretty darn well when they were lending to households.
 
2013-03-17 10:19:16 PM  
singlesourcespeakers.com

/cigarette smokin' messed up your lungs
 
2013-03-17 10:25:56 PM  

MattStafford: DamnYankees: MattStafford: Eventually you get called out on it, and when that happens it is going to be very painful.

Eventually we're all dead. This is not a useful metric.

A policy will eventually destroy the country. In your view, we should continue that policy because, hey, it was going to happen eventually.


Your view is to tank the economy now because the economy might eventually tank if we continue what we're doing forever.  Everyone else's view is continue what we're doing UNTIL the economy is more secure footing. The latter group is guessing the economy becoming on more secure footing under the current policies will happen before it tanks the economy.  Choosing the course of action that doesn't tank the economy NOW seems the more sane approach.
 
m00
2013-03-17 10:33:10 PM  

DamnYankees: Are you insane? You think it its the donor class that is AGAINST austerity?


Dude, you know where our spending goes? Corporate handouts. Bailouts. Wars. Tax breaks (and even handouts) for the rich. Payouts to insurance companies. Subsidizing risky banking with taxpayer money, but privatizing the rewards. True austerity means an end to that gravy train.

As was noted in a fark thread not too long ago, 7/10 of the wealthiest districts in the US are suburbs of DC. Government spending feeds the wealthy class.
 
2013-03-17 10:33:30 PM  

GodsTumor: Debt, what debt?
This is just a clever ruse to elect another Bush. JEBBY!


There's also another George Bush entering the world of politics, running for Texas land commissioner next year.
 
m00
2013-03-17 10:38:02 PM  

NewportBarGuy: ...and debt to GDP at a manageable level, reach hyper-inflation?


I posted in another thread comparing 2007 spending levels to 2012 spending levels. It's insane, pretty much every budget area increased by 50% (including defense), while revenue barely increased. Whether or not you want to argue our debt to GDP is "manageable" now (not sure what manageable means in this context), it soon get very destructive. But again, my argument is that the 1% is actively seeking to destroy the country, via massive campaign contribution and influencing elections, for their own benefit.
 
2013-03-17 11:04:38 PM  

DamnYankees: The death of the sun is eventually going to destroy the world. WHY AREN'T WE SENDING ROCKETS TO THE SUN LIKE IN THAT MOVIE SUNSHINE WITH THAT DUDE FROM THAT OTHER MOVIE?!?


even the most diehard keynesian economists like krugman openly admit that our debt will become a gigantic problem within a decade... but yeah, it's totally the same as the sun burning out, great analogy
 
2013-03-17 11:09:12 PM  
JESUS CHRIST DOG SHADDUP N QUIT YER HOWLING OR I WILL COME FIND YOU AND KICK YOU SO YOU CAN REALLY HOWL YERSELF A PIECE

SERIOUSLY, GOD DAMN
 
2013-03-17 11:11:43 PM  

m00: Marginalized by the mainstream media. A lot of conservatives were unhappy about Bush's spending. You just didn't hear about it on FOX or MSNBC.


Not enough to actually do anything about it. According the the Constitution, it takes 60 votes in the Senate to pass any law. Seems a shame the Senate couldn't do it's job.
 
2013-03-17 11:12:55 PM  

Bucky Katt: WTF?   GOPers have been screaming about out of control spending and the debt crisis so much that they've been wetting their pants for ages.  Do they even listen to themselves when they talk?




No after awhile they just tune out. Hey, does anybody remember big-league chew?
 
2013-03-17 11:13:15 PM  

DamnYankees: MattStafford: A policy will eventually destroy the country. In your view, we should continue that policy because, hey, it was going to happen eventually.

The death of the sun is eventually going to destroy the world. WHY AREN'T WE SENDING ROCKETS TO THE SUN LIKE IN THAT MOVIE SUNSHINE WITH THAT DUDE FROM THAT OTHER MOVIE?!?


Because they were trying to reignite a dying sun in that movie.

DamnYankees: trying to destroy the world with his mad sun-exploding schemes.
 
2013-03-17 11:14:11 PM  
There is no debt crisis.

When Clinton had left office, the Treasury came screaming to bush that they'd lost their ability to control the money supply because the amount of T-bills and other government debt instruments in circulation were too low.

So basically what the treasury said is that we need to have 1-2% of GDP in T-bills in circulation at any time to be able to have control levers into monetary policy.

If you really think that there is a debt crisis, Then you should also know that 'entitlements' of social security and Medicare are NOT responsible, since they are both totally funded by their own 6% 'flat' tax on the incomes of everyone making under 120,000$ annually. In fact, this flat tax has been providing congress with EXTRA money beyond other methods of taxation, as SS, Medicare and Medicaid have cost LESS than the 6% flat tax (on everyone's income under the $120,000 amount).

Congress has been taking the surplus out of the medicare fund by instructing the trustee to 'invest' the leftover money in treasury bills and treasury bonds.
 
2013-03-17 11:15:25 PM  

m00: A lot of conservatives were unhappy about Bush's spending. You just didn't hear about it on FOX or MSNBC.


I didn't hear about it on places like Fark or from the Conservatives I know in person, either. Fox must be more powerful than I realized... or then again maybe you're just full of shiat.
 
2013-03-17 11:17:10 PM  

invictus2: Bucky Katt: WTF?   GOPers have been screaming about out of control spending and the debt crisis so much that they've been wetting their pants for ages.  Do they even listen to themselves when they talk?

No after awhile they just tune out. Hey, does anybody remember big-league chew?


The shredded bubble gum in a pouch?  No, never heard of it.
 
2013-03-17 11:17:50 PM  
Well... when you can borrow below the rate of inflation there's no crisis.

Seriously. Go look up inflation rates and Treasury offers. Anything less than a 30 year is less than 3%, and for most of the past decade we've been at 2%-3%.

So, if you can manage to grow the economy at <4%, inflation at >2%, and borrow money at less than 2%, everything can continue operating. Just, if you want to blow a trillion dollars, do it with something that'll have long term benefits for the masses. I think you might have been able to literally buy everyone a hybrid for what we spent on that war. Or at least subsidize them to being $10k, although my inner economist is already screaming that would incentivise hybrid makers to make them cost $60k to produce.
 
2013-03-17 11:20:38 PM  

Bucky Katt: invictus2: Bucky Katt: WTF?   GOPers have been screaming about out of control spending and the debt crisis so much that they've been wetting their pants for ages.  Do they even listen to themselves when they talk?

No after awhile they just tune out. Hey, does anybody remember big-league chew?

The shredded bubble gum in a pouch?  No, never heard of it.


www.chocolatebuttons.co.uk
 
m00
2013-03-17 11:20:45 PM  

The Why Not Guy: I didn't hear about it on places like Fark or from the Conservatives I know in person, either. Fox must be more powerful than I realized... or then again maybe you're just full of shiat.


I'm sorry, I didn't know you personally knew every conservative on the Internet. And yes, I was on Fark during the Bush years (my account was created 2003) and yours was created in 2006. So I think I have a bit more of a handle on places like Fark during the Bush years, considering you were barely on Fark for them. A lot of conservatives, at the time, didn't like his domestic policies. I'm sorry if that doesn't fit your preconceived notions of what a conservative believes.
 
m00
2013-03-17 11:23:11 PM  

Harry_Seldon: Not enough to actually do anything about it. According the the Constitution, it takes 60 votes in the Senate to pass any law. Seems a shame the Senate couldn't do it's job.


It is a shame that few politicians actually serve the public interest.
 
Displayed 50 of 165 comments

First | « | 1 | 2 | 3 | 4 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
On Twitter





In Other Media


Report