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(Huffington Post)   America's finances are in such terrible shape that S&P revises up credit outlook to stable   (huffingtonpost.com ) divider line
    More: Spiffy, United States, Erin Burnett, Dean Baker, Matthew O'Brien, problem finding, Federal Reserve  
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703 clicks; posted to Politics » on 10 Jun 2013 at 1:38 PM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-06-10 01:41:56 PM  
DAMN YOU OBAMA, YOU FIXEDBLEW IT ALL UP!
 
2013-06-10 01:42:11 PM  
So a bumper coconut crop, then?

Cheers.
 
2013-06-10 01:46:24 PM  

Brian_of_Nazareth: So a bumper coconut crop, then?

Cheers.


The monkeys on pogo sticks will finally feel the trickle down.
 
2013-06-10 01:48:18 PM  
And GOP propaganda machine to attack the S&P as a partisan organization in 3...2...1...
 
2013-06-10 01:48:49 PM  
But without crushing economic despair why will you accept the cruel yoke of the Reptiloids?
 
2013-06-10 01:49:08 PM  

jst3p: Brian_of_Nazareth: So a bumper coconut crop, then?

Cheers.

The monkeys on pogo sticks will finally feel the trickle down.


I've noticed that our self proclaimed economist with a degree from a top 50 school hasn't been around much lately.
 
2013-06-10 01:50:20 PM  
Don't worry. I'm sure congressional republicans will once again try to grab the wheel and steer the ship into an iceberg.
 
2013-06-10 01:50:46 PM  
How dare you fixbreakfix the economy Obama!!!
 
2013-06-10 01:50:48 PM  
Seems premature - we haven't got to this year's debt ceiling fight yet.
 
2013-06-10 01:51:03 PM  
Thanks, Obama!
 
2013-06-10 01:52:09 PM  
We get it....he's black.

Wait...what?
 
2013-06-10 01:52:44 PM  
Worst.  Socialist.  EVER!
 
2013-06-10 01:54:08 PM  
The Tea Party will have to redouble their efforts in order to reverse this trend.
 
2013-06-10 01:54:40 PM  
These are the same people that thought bundling lots of mortgages to people with no job makes for the safest possible investments? I'll give their opinion on the economy the due weight it deserves...
 
2013-06-10 01:58:55 PM  

max_pooper: jst3p: Brian_of_Nazareth: So a bumper coconut crop, then?

Cheers.

The monkeys on pogo sticks will finally feel the trickle down.

I've noticed that our self proclaimed economist with a degree from a top 50 school hasn't been around much lately.


Too true, that.  Maybe his Dr finally got the meds right?

Cheers.
 
2013-06-10 01:59:17 PM  
Score another victory for the Bush recovery.
 
2013-06-10 01:59:35 PM  
img853.imageshack.us
 
2013-06-10 02:20:02 PM  

max_pooper: jst3p: Brian_of_Nazareth: So a bumper coconut crop, then?

Cheers.

The monkeys on pogo sticks will finally feel the trickle down.

I've noticed that our self proclaimed economist with a degree from a top 50 school hasn't been around much lately.


Let's not get too hasty here. The reports of my disappearance have been greatly exaggerated.

Anyway - let's see what happens when the Fed tapers QE. That's the big test. With Japan on the verge of blowing up, China's fudged numbers still missing their targets, and Europe about to explode again, it is quite a bit early to declare victory.
 
2013-06-10 02:25:09 PM  
And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?
 
2013-06-10 02:33:03 PM  

MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?


If we plant the seeds for future economic growth through more deficit spending today, we won't have to finance it at all. In contrast, if we let economic growth stagnate and die, we'll have basically no choice but to continue deficit spending.

In short, you're asking the wrong question.
 
2013-06-10 02:33:47 PM  

MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?


We could switch to coconuts. . .
 
2013-06-10 02:38:59 PM  

Serious Black: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

If we plant the seeds for future economic growth through more deficit spending today, we won't have to finance it at all. In contrast, if we let economic growth stagnate and die, we'll have basically no choice but to continue deficit spending.

In short, you're asking the wrong question.


You are suggesting that a massive military and a large welfare program for retired citizens are the seeds for future economic growth. That suggestion is idiotic.
 
2013-06-10 02:39:26 PM  
SovietCanuckistan:

I couldn't help but think of that scene since this isn't "improving" but rather "not getting worse". That said it's definitely good news to see that these firms see US bonds as relatively stable.

...I just have a feeling we'll go back to "deteriorating" when we have the next threat of a government shutdown/exceeding the debt limit later this year. The comity in Washington hasn't improved, so it's hard to imagine hammering out a deal amicably this time around.
 
2013-06-10 02:40:17 PM  

HighOnCraic: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

We could switch to coconuts. . .


Way to answer the question. That is a serious problem you are so glibly ignoring. But hey, at least I'll be able to say "told ya so".
 
2013-06-10 02:49:11 PM  

MattStafford: Serious Black: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

If we plant the seeds for future economic growth through more deficit spending today, we won't have to finance it at all. In contrast, if we let economic growth stagnate and die, we'll have basically no choice but to continue deficit spending.

In short, you're asking the wrong question.

You are suggesting that a massive military and a large welfare program for retired citizens are the seeds for future economic growth. That suggestion is idiotic.


We could spend money on infrastructure projects like repairing the many bridges that are failing around the country and building a new power grid to plant the seeds for economic growth. Both of these are very commonly known problems that are having a major impact on the economy.
 
2013-06-10 02:52:17 PM  

MattStafford: HighOnCraic: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

We could switch to coconuts. . .

Way to answer the question. That is a serious problem you are so glibly ignoring. But hey, at least I'll be able to say "told ya so".


Sorry, I thought you were used to coconut jokes by now.
 
2013-06-10 02:55:27 PM  

Serious Black: MattStafford: Serious Black: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

If we plant the seeds for future economic growth through more deficit spending today, we won't have to finance it at all. In contrast, if we let economic growth stagnate and die, we'll have basically no choice but to continue deficit spending.

In short, you're asking the wrong question.

You are suggesting that a massive military and a large welfare program for retired citizens are the seeds for future economic growth. That suggestion is idiotic.

We could spend money on infrastructure projects like repairing the many bridges that are failing around the country and building a new power grid to plant the seeds for economic growth. Both of these are very commonly known problems that are having a major impact on the economy.


I agree with you, we can certainly invest money now into infrastructure or technology and have a payoff in the future, but that investment doesn't justify spending the vast majority of our money on the military or retired people.
 
2013-06-10 02:56:23 PM  

HighOnCraic: MattStafford: HighOnCraic: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

We could switch to coconuts. . .

Way to answer the question. That is a serious problem you are so glibly ignoring. But hey, at least I'll be able to say "told ya so".

Sorry, I thought you were used to coconut jokes by now.


You can make dumb coconut jokes, and I'll berate you for ignoring serious problems.
 
2013-06-10 03:18:31 PM  

MattStafford: HighOnCraic: MattStafford: HighOnCraic: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

We could switch to coconuts. . .

Way to answer the question. That is a serious problem you are so glibly ignoring. But hey, at least I'll be able to say "told ya so".

Sorry, I thought you were used to coconut jokes by now.

You can make dumb coconut jokes, and I'll berate you for ignoring serious problems.


Oh no, not a berating! Anything but a berating!
 
2013-06-10 03:23:48 PM  

MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?


The Federal Reserve.  You probably haven't heard of them.
 
2013-06-10 03:26:24 PM  

MattStafford: We could spend money on infrastructure projects like repairing the many bridges that are failing around the country and building a new power grid to plant the seeds for economic growth. Both of these are very commonly known problems that are having a major impact on the economy.

I agree with you, we can certainly invest money now into infrastructure or technology and have a payoff in the future, but that investment doesn't justify spending the vast majority of our money on the military or retired people.


I'm not saying it does. I'm saying that if we were to borrow money at rock-bottom interest rates and spend it on these kinds of projects that you agree will pay off in the future, we will reduce the deficit in the future beyond what current projections show. Let's face it, these kinds of projects have to be done. The bridges will collapse. The power grid will fail. If we wait until those things happen to spend money making those repairs or building those new things, they will cost us more money than they will if we did them now. And if we do them now, we will be putting tons of people who are completely incapable of being hired back to work and getting them job experience that will enable them to find another job after the construction is complete.
 
2013-06-10 03:32:37 PM  

OptionC: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

The Federal Reserve.  You probably haven't heard of them.


If the Fed tries to finance our deficit indefinitely, those hyperinflationists will be proven correct.
 
2013-06-10 03:34:08 PM  

Serious Black: MattStafford: We could spend money on infrastructure projects like repairing the many bridges that are failing around the country and building a new power grid to plant the seeds for economic growth. Both of these are very commonly known problems that are having a major impact on the economy.

I agree with you, we can certainly invest money now into infrastructure or technology and have a payoff in the future, but that investment doesn't justify spending the vast majority of our money on the military or retired people.

I'm not saying it does. I'm saying that if we were to borrow money at rock-bottom interest rates and spend it on these kinds of projects that you agree will pay off in the future, we will reduce the deficit in the future beyond what current projections show. Let's face it, these kinds of projects have to be done. The bridges will collapse. The power grid will fail. If we wait until those things happen to spend money making those repairs or building those new things, they will cost us more money than they will if we did them now. And if we do them now, we will be putting tons of people who are completely incapable of being hired back to work and getting them job experience that will enable them to find another job after the construction is complete.


Let's do that then. At the same time, let's stop borrowing money and spending it on unproductive things. Borrowing money and spending it on things that don't have positive roi's hurts our economy in the long run.
 
2013-06-10 03:35:24 PM  

MattStafford: OptionC: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

The Federal Reserve.  You probably haven't heard of them.

If the Fed tries to finance our deficit indefinitely, those hyperinflationists will be proven correct.


What gives you the impression that that is going to happen? The deficit is projected to be close to 2% of GDP in FY2017, and the Federal Reserve has announced firm rules for when they will start to unwind their monetary stimulus programs (passing 6.5% unemployment and 2.5% core inflation).
 
2013-06-10 03:37:23 PM  

MattStafford: Serious Black: MattStafford: We could spend money on infrastructure projects like repairing the many bridges that are failing around the country and building a new power grid to plant the seeds for economic growth. Both of these are very commonly known problems that are having a major impact on the economy.

I agree with you, we can certainly invest money now into infrastructure or technology and have a payoff in the future, but that investment doesn't justify spending the vast majority of our money on the military or retired people.

I'm not saying it does. I'm saying that if we were to borrow money at rock-bottom interest rates and spend it on these kinds of projects that you agree will pay off in the future, we will reduce the deficit in the future beyond what current projections show. Let's face it, these kinds of projects have to be done. The bridges will collapse. The power grid will fail. If we wait until those things happen to spend money making those repairs or building those new things, they will cost us more money than they will if we did them now. And if we do them now, we will be putting tons of people who are completely incapable of being hired back to work and getting them job experience that will enable them to find another job after the construction is complete.

Let's do that then. At the same time, let's stop borrowing money and spending it on unproductive things. Borrowing money and spending it on things that don't have positive roi's hurts our economy in the long run.


I agree with you on the Military, although cutting military spending has a tendency to mean paying fewer soldiers which comes with it's own baggage to the economy. How do you suggest we stop spending money on "old people"?
 
2013-06-10 03:37:36 PM  

Serious Black: MattStafford: OptionC: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

The Federal Reserve.  You probably haven't heard of them.

If the Fed tries to finance our deficit indefinitely, those hyperinflationists will be proven correct.

What gives you the impression that that is going to happen? The deficit is projected to be close to 2% of GDP in FY2017, and the Federal Reserve has announced firm rules for when they will start to unwind their monetary stimulus programs (passing 6.5% unemployment and 2.5% core inflation).


I asked who will be financing our deficit in the future. The poster responded with the federal Reserve. I explained that that would lead to hyperinflation.

And projections are great, but let's see how they actually play out. The end of QE is going to be very interesting.
 
2013-06-10 03:43:32 PM  

MattStafford: Serious Black: MattStafford: OptionC: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

The Federal Reserve.  You probably haven't heard of them.

If the Fed tries to finance our deficit indefinitely, those hyperinflationists will be proven correct.

What gives you the impression that that is going to happen? The deficit is projected to be close to 2% of GDP in FY2017, and the Federal Reserve has announced firm rules for when they will start to unwind their monetary stimulus programs (passing 6.5% unemployment and 2.5% core inflation).

I asked who will be financing our deficit in the future. The poster responded with the federal Reserve. I explained that that would lead to hyperinflation.

And projections are great, but let's see how they actually play out. The end of QE is going to be very interesting.


I project that when I come home from work tomorrow, my house will still be standing and in the exact same shape that I left it in. Let's see if some bastard decides to burn it down or blow it up while I'm gone.
 
2013-06-10 03:51:09 PM  

Serious Black: MattStafford: Serious Black: MattStafford: OptionC: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

The Federal Reserve.  You probably haven't heard of them.

If the Fed tries to finance our deficit indefinitely, those hyperinflationists will be proven correct.

What gives you the impression that that is going to happen? The deficit is projected to be close to 2% of GDP in FY2017, and the Federal Reserve has announced firm rules for when they will start to unwind their monetary stimulus programs (passing 6.5% unemployment and 2.5% core inflation).

I asked who will be financing our deficit in the future. The poster responded with the federal Reserve. I explained that that would lead to hyperinflation.

And projections are great, but let's see how they actually play out. The end of QE is going to be very interesting.

I project that when I come home from work tomorrow, my house will still be standing and in the exact same shape that I left it in. Let's see if some bastard decides to burn it down or blow it up while I'm gone.


Well, when you have the projection track record the finance/economics industry has, I'd take out an insurance policy on that house.
 
2013-06-10 04:02:28 PM  

MattStafford: Let's do that then. At the same time, let's stop borrowing money and spending it on unproductive things. Borrowing money and spending it on things that don't have positive roi's hurts our economy in the long run.


The problem is not everyone agrees on what has a "positive ROI".  For example, education.  Spending money on education should have a positive ROI, but you have a lot of people who will argue that more spending doesn't equal better test scores or children better prepared for the workforce.  Meanwhile, schools crumble and kids learn from text books written sometime in the last century.  All because someone somewhere saw an article about how spending more doesn't help.

I figure it will take a school literally collapsing on kids before someone finally decides it's worth spending some money there.  Then again, they will argue that kids learn perfectly well at home...
 
2013-06-10 04:05:54 PM  

Dr. Whoof: MattStafford: Let's do that then. At the same time, let's stop borrowing money and spending it on unproductive things. Borrowing money and spending it on things that don't have positive roi's hurts our economy in the long run.

The problem is not everyone agrees on what has a "positive ROI".  For example, education.  Spending money on education should have a positive ROI, but you have a lot of people who will argue that more spending doesn't equal better test scores or children better prepared for the workforce.  Meanwhile, schools crumble and kids learn from text books written sometime in the last century.  All because someone somewhere saw an article about how spending more doesn't help.

I figure it will take a school literally collapsing on kids before someone finally decides it's worth spending some money there.  Then again, they will argue that kids learn perfectly well at home...


This is indeed a problem. However, the vast majority of the money we spend isn't going to these programs. The vast majority of the the money we spend is going to the military or our retired citizens. There should be little controversy with regards to the Roi on those programs.
 
2013-06-10 04:22:16 PM  

MattStafford: Dr. Whoof: MattStafford: Let's do that then. At the same time, let's stop borrowing money and spending it on unproductive things. Borrowing money and spending it on things that don't have positive roi's hurts our economy in the long run.

The problem is not everyone agrees on what has a "positive ROI".  For example, education.  Spending money on education should have a positive ROI, but you have a lot of people who will argue that more spending doesn't equal better test scores or children better prepared for the workforce.  Meanwhile, schools crumble and kids learn from text books written sometime in the last century.  All because someone somewhere saw an article about how spending more doesn't help.

I figure it will take a school literally collapsing on kids before someone finally decides it's worth spending some money there.  Then again, they will argue that kids learn perfectly well at home...

This is indeed a problem. However, the vast majority of the money we spend isn't going to these programs. The vast majority of the the money we spend is going to the military or our retired citizens. There should be little controversy with regards to the Roi on those programs.


The problem is the Government is tasked with doing more than just improving the economy. Not everything the government is expected to do has a positive ROI. Again, what do you mean when you say we should spend less on "old people"? Didn't these people pay into the system their entire lives expecting this return?
 
2013-06-10 04:26:19 PM  
So that's how low the bar for "good news" has gotten?
 
2013-06-10 04:40:29 PM  

jst3p: MattStafford: Dr. Whoof: MattStafford: Let's do that then. At the same time, let's stop borrowing money and spending it on unproductive things. Borrowing money and spending it on things that don't have positive roi's hurts our economy in the long run.

The problem is not everyone agrees on what has a "positive ROI".  For example, education.  Spending money on education should have a positive ROI, but you have a lot of people who will argue that more spending doesn't equal better test scores or children better prepared for the workforce.  Meanwhile, schools crumble and kids learn from text books written sometime in the last century.  All because someone somewhere saw an article about how spending more doesn't help.

I figure it will take a school literally collapsing on kids before someone finally decides it's worth spending some money there.  Then again, they will argue that kids learn perfectly well at home...

This is indeed a problem. However, the vast majority of the money we spend isn't going to these programs. The vast majority of the the money we spend is going to the military or our retired citizens. There should be little controversy with regards to the Roi on those programs.

The problem is the Government is tasked with doing more than just improving the economy. Not everything the government is expected to do has a positive ROI. Again, what do you mean when you say we should spend less on "old people"? Didn't these people pay into the system their entire lives expecting this return?


If the project doesn't have an Roi greater than one, don't borrow money to pay for it. Pay for it via taxation.

And they did pay into the system their entire lives. Unfortunately they also elected politicians who spent that money instead of save that money. I have no pity for them, they elected the politicians that spent their money and caused this mess.
 
2013-06-10 04:42:26 PM  

MattStafford: If the project doesn't have an Roi greater than one, don't borrow money to pay for it. Pay for it via taxation.


Increasing tax rates during a recession/recovery has a chilling effect on the economy. It isn't as simple as bumper sticker platitudes.
 
2013-06-10 04:43:16 PM  
Okay, who let the economics retard in here? Lordamercy, the whole place is almost solid Red 4.
 
2013-06-10 04:43:43 PM  
I guess none of you idiots saw BeetleJuice.

You say somebody's name enough and they'll show up. Then it's all snakes and bullsh*t until someone gets eaten by a sandworm. Nice job, jerks.
 
2013-06-10 04:50:38 PM  

whitman00: And GOP propaganda machine to attack the S&P as a partisan organization in 3...2...1...


No, they won't. They will give Paul Ryan's budget the credit.
 
2013-06-10 05:06:38 PM  

MattStafford: HighOnCraic: MattStafford: HighOnCraic: MattStafford: And again I'll bring up the elephant in the room. Who will be buying our debt over the coming years. Certainly not Japan. China has been unwilling to increase their holdings, and is experiencing a slowdown of their own. Europe is a complete joke, and is about to reenter a full on crisis. American citizens with money to spend are retiring and cashing in their bonds and the young and employed don't have money to save.

Who will finance our deficit spending in the near future?

We could switch to coconuts. . .

Way to answer the question. That is a serious problem you are so glibly ignoring. But hey, at least I'll be able to say "told ya so".

Sorry, I thought you were used to coconut jokes by now.

You can make dumb coconut jokes, and I'll berate you for ignoring serious problems.


Just because I'm not impressed by your particular solutions doesn't mean I'm ignoring the problem.

Have a coconut and a smile!
 
2013-06-10 05:07:59 PM  

jst3p: MattStafford: Serious Black: MattStafford: We could spend money on infrastructure projects like repairing the many bridges that are failing around the country and building a new power grid to plant the seeds for economic growth. Both of these are very commonly known problems that are having a major impact on the economy.

I agree with you, we can certainly invest money now into infrastructure or technology and have a payoff in the future, but that investment doesn't justify spending the vast majority of our money on the military or retired people.

I'm not saying it does. I'm saying that if we were to borrow money at rock-bottom interest rates and spend it on these kinds of projects that you agree will pay off in the future, we will reduce the deficit in the future beyond what current projections show. Let's face it, these kinds of projects have to be done. The bridges will collapse. The power grid will fail. If we wait until those things happen to spend money making those repairs or building those new things, they will cost us more money than they will if we did them now. And if we do them now, we will be putting tons of people who are completely incapable of being hired back to work and getting them job experience that will enable them to find another job after the construction is complete.

Let's do that then. At the same time, let's stop borrowing money and spending it on unproductive things. Borrowing money and spending it on things that don't have positive roi's hurts our economy in the long run.

I agree with you on the Military, although cutting military spending has a tendency to mean paying fewer soldiers which comes with it's own baggage to the economy. How do you suggest we stop spending money on "old people"?


3.bp.blogspot.com

/Okay, that's probably not a good idea.
 
2013-06-10 05:17:39 PM  

HighOnCraic: jst3p: MattStafford: Serious Black: MattStafford: We could spend money on infrastructure projects like repairing the many bridges that are failing around the country and building a new power grid to plant the seeds for economic growth. Both of these are very commonly known problems that are having a major impact on the economy.

I agree with you, we can certainly invest money now into infrastructure or technology and have a payoff in the future, but that investment doesn't justify spending the vast majority of our money on the military or retired people.

I'm not saying it does. I'm saying that if we were to borrow money at rock-bottom interest rates and spend it on these kinds of projects that you agree will pay off in the future, we will reduce the deficit in the future beyond what current projections show. Let's face it, these kinds of projects have to be done. The bridges will collapse. The power grid will fail. If we wait until those things happen to spend money making those repairs or building those new things, they will cost us more money than they will if we did them now. And if we do them now, we will be putting tons of people who are completely incapable of being hired back to work and getting them job experience that will enable them to find another job after the construction is complete.

Let's do that then. At the same time, let's stop borrowing money and spending it on unproductive things. Borrowing money and spending it on things that don't have positive roi's hurts our economy in the long run.

I agree with you on the Military, although cutting military spending has a tendency to mean paying fewer soldiers which comes with it's own baggage to the economy. How do you suggest we stop spending money on "old people"?

[3.bp.blogspot.com image 400x400]

/Okay, that's probably not a good idea.


This solution would reduce demand for coconuts:

a.tgcdn.net
 
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