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Muda69

Marching toward a debt crisis

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19 minutes ago, Impartial_Observer said:

I hope he's got a forklift to keep moving that goal post, I'm sure they're heavy.

Something he probably learned under the tutelage of Rory Reid.

 

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39 minutes ago, Muda69 said:

Something he probably learned under the tutelage of Rory Reid.

 

The only thing to learn from Rory is how to zone a city. Lol

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1 hour ago, TrojanDad said:

Do you think the Clinton's have outstanding morals??

No; but they don’t campaign on it.

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20 hours ago, DanteEstonia said:

No; but they don’t campaign on it.

So because the Clinton's did not "campaign on their morals" you and others were willing to give them a pass, and your vote?

 

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20 hours ago, DanteEstonia said:

No; but they don’t campaign on it.

Trump campaigned on his morals??  

Historically, a big chunk of religion has always leaned to the right.  I think this is less about a single man/woman, and more about what the party's position on key issues....don't you?

I do see more of religion being good with same sex relationships and less vocal about abortion....so who knows?....that may change more in the future.  (The New Normal)

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7 minutes ago, TrojanDad said:

Trump campaigned on his morals??  

The GOP does; and it says a lot about the people who vote GOP if they are so hypocritical as to vote for Trump.

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5 minutes ago, DanteEstonia said:

The GOP does; and it says a lot about the people who vote GOP if they are so hypocritical as to vote for Trump.

My comments about political party platforms went right by you didn't it. I just said it was bigger than any one man/woman.  

If you want to judge a very large group of people in the US, knock yourself out.  I doubt many will lose any sleep.

I get it...you liked Hillary.  Time to move on.

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3 hours ago, TrojanDad said:

I get it...you liked Hillary.  Time to move on.

Now you are putting words in my mouth.

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4 hours ago, TrojanDad said:

My comments about political party platforms went right by you didn't it. I just said it was bigger than any one man/woman.  

If you want to judge a very large group of people in the US, knock yourself out.  I doubt many will lose any sleep.

I get it...you liked Hillary.  Time to move on.

No he was for the guy who barely beat "none of the above". 

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14 hours ago, Impartial_Observer said:

No he was for the guy who barely beat "none of the above". 

Enjoy losing your Medicare, and paying for those next hips out of pocket.

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2 hours ago, DanteEstonia said:

Enjoy losing your Medicare, and paying for those next hips out of pocket.

As it should be with a true constitutional, limited government.  Something you obviously abhor.

 

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3 hours ago, DanteEstonia said:

Enjoy losing your Medicare, and paying for those next hips out of pocket.

Actually it’ll probably be a knee first. 

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Fiscal Conservatism Is Dead. Republicans Killed It.: https://www.dailywire.com/news/50152/hammer-fiscal-conservatism-dead-republicans-killed-josh-hammer

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"There are two ways to conquer and enslave a nation. One is by the sword and the other is by debt." - John Adams

"Fiscal conservatism," R.I.P. And while the Democratic Party has been an aider and abettor of this untimely death since at least the presidency of Lyndon Johnson, it is the Republican Party — the purported partisan home for fiscal conservatism — that ought to be credited with the fatal coup de grâce.

Let's review.

The much-vaunted Tea Party movement that rose to prominence in 2009 – 2010 always was, as I put it three years ago, "internally compromised by its warring constitutionalist and populist factions." For a brief period of time, following the 2010 U.S. Senate primary victories of Mike Lee in Utah and Rand Paul in Kentucky, it seemed that genuine constitutionalism and debt-averse fiscal conservatism were on the ascendancy. In the summer of 2011, House Republicans managed to leverage control of one half of one-third of the federal government to force Senate Democrats and a breathtakingly leftist White House to compromise on real, meaningful spending reforms. The Budget Control Act of 2011 — and the so-called "sequestration" it wrought upon the federal fisc — capped discretionary spending over the ensuing ten-year period, resulting in roughly two trillion dollars in savings.

It is pretty depressing to look back, eight years later, and recognize that the summer of 2011 likely represented the high watermark for fiscal conservatism in the modern Republican Party. What has happened since then is nothing other than massive deficits run amok, indefensible budget cap busting, debt binges galore, and reckless borrowing on the nation's proverbial credit card in large service to the Chinese Communist Party. This perfidy has now taken the form of a horrific budget bill that Majority Leader Sen. Mitch McConnell and President Donald Trump are now set to enact into law. The new budgetary capitulation would lead to nearly two trillion dollars in new spending over the next decade and outright cancels the budget caps for the final two years of the Budget Control Act, among other betrayals.

For the second straight day, I ask: Why do Republicans even bother to win elections?

In the aftermath of the 2012 presidential election shellacking, the Republican National Committee (RNC) analyzed the results and told conservatives that fiscal conservatism was the leg of the traditional Reagan-era "three-legged stool" on which to focus. That RNC "autopsy" was very clearly wrong. It is actually libertarianism and classical liberalism — an innate hostility to government interventionism in any and all areas of life — that lack a core base of popular political support and electoral relevance. But the point is that the Republican Party cannot even do that right. Whereas the Party ought to be eschewing its erstwhile uncompromising attachment to classical liberalism while doubling down on debt-averse fiscal conservatism, it seems that Republicans are actually doing the complete opposite.

Fiscal conservatism arguably had a nice run — or at least a nice rhetorical run. But it is now deader than a dodo bird. And Republicans killed it.

Uni-party.

 

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2 hours ago, DanteEstonia said:

At least you are honest and philosophically consistent, Muda.

I disagree.

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7 hours ago, gonzoron said:

I disagree.

Please elaborate, concerning the national debt and the uni-party.

 

 

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We've Already Blown Past Last Year's Federal Budget Deficit: https://reason.com/2019/08/13/weve-already-blown-past-last-years-federal-budget-deficit/

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To grasp what dire shape the budget deficit is in, one only needs to glance at a handful of recent Bloomberg News headlines. There was "U.S. Posts Largest-Ever Monthly Budget Deficit in February" in March, followed by "U.S. Budget Gap Balloons to $739 Billion Despite Tariff Revenue" in June. In July, the headline was "U.S. Budget Gap Widens to $747 Billion in 9 Months Through June," and the first sentence of the article noted that the deficit had grown by 23 percent this fiscal year, "as rising spending eclipsed a small bump in revenue from the Trump administration's tariffs. And now, as the summer ends, we have "U.S. Budget Deficit Already Exceeds Last Year's Total Figure," which notes that federal expenditures between October and June were up 6.6 percent over the previous fiscal year. The $866 billion budget gap so far this fiscal year represents a 27 percent increase over the same period last year. 

 

The ever-expanding deficit is a direct result of policy choices: the tax cuts passed by President Donald Trump and congressional Republicans in 2017, followed by the spending increases called for in the bipartisan budget deals that followed. The math here is about as basic as it gets. When you reduce tax revenues on the one hand and then increase spending on the other, you increase the deficit, which measures the gap between revenues (taxes) and outlays (spending).  

These policy choices have contributed to a federal budget outlook that the Congressional Budget Office (CBO) has repeatedly described as unsustainable—as in, we can't keep doing this forever. We are currently on track for deficits that exceed $1 trillion starting in 2022, which is expected to equal more than 5 percent of the entire economy. Every dollar that moves through the economy will contain a deficit nickel. Since 1946, that's only happened five times, mostly in the immediately aftermath of the Great Recession. 

 

This combined with this:

Dow tumbles 600 points after bond market flashes a recession warning: https://www.cnn.com/2019/08/14/investing/dow-stock-market-today/index.html

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The Dow fell more than 600 points Wednesday after the bond market, for the first time in over a decade, flashed a warning signal that has an eerily accurate track record for predicting recessions.

Here's what happened: The 10-year Treasury bondyield fell below 1.6% Wednesday morning, dropping just below the yield of the 2-year Treasury bond. It marked the first time since 2007 that 10-year bond yields fell below 2-year yields.
US stocks fell as investors sold stock in companies and moved it into bonds. The Dow (INDU) was about 2.4% lower. The broader S&P 500 (SPX) was down 2.4% and the Nasdaq (COMP) sank 2.6% Wednesday.
 
CNN Business' Fear and Greed Index signaled investors were fearful. The VIX (VIX) volatility index spiked 20%.
Investors are on edge because the German economy shrank in the second quarter, and the US-China trade war still looms large over markets, despite the latest truce. Industrial production in China grew at the weakest rate in 17 years.
As the global economy sputters, investors are plowing money into long-term US bonds. The 30-year Treasury yield fell to 2.05%, the lowest rate on record.

 

Good times ahead........................

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