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    4. GDP

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    4. GDP

    Post by Guest on Sat Jul 28, 2018 8:48 am

    You Another quarter like this and we can start claiming Trump is reducing the deficit at a historic rate!!!!!!

    PS, THE KARK filled up for 2.91 at the Plainfield Meijer.  The boat of $2 has keeps on sailing despite the lies of Schmucks!!!!!
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    Soxillinirob
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    Re: 4. GDP

    Post by Soxillinirob on Sat Jul 28, 2018 9:26 am

    Plenty of GDP quarters like that during the previous administration.  Would be more excited if it were reducing, rather than increasing, the deficit, or if wage gains were occurring.  What net positive result is coming from this growth, aside from rich folks getting richer?  To be clear, I'm not against a strong economy and a good GDP number.  That's normally a good thing and we should want that.  I'm just pointing out that much of why we typically LIKE a good GDP number is not coming to fruition.  I normally want that good GDP number because it's turning the deficit into a surplus, and pushing pay higher.  If we are having a ballooning deficit, then it strikes me that for the most part the whole thing is just a trade of growth in exchange for debt.  Growth in exchange for debt should be a "thing" during recessions or down times and not a thing during a booming economy.  

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    Re: 4. GDP

    Post by Guest on Mon Jul 30, 2018 8:28 am

    RobZ


    How on earth do you expect me to take you seriously when you spent the past eight years justifying Obama's absolutely horrible record on the deficit and debt?


    the last time I went thru the complete set of numbers, not just your cherry picked ones, you threw up you your cyber arms and proclaimed who give an F about the deficit.


    Now, all of a sudden, you care again.


    Do you even remember what you post, or is this one big frat boy joke to deliberately disagree with whatever I post


    BTW, there is no denying the stock market took off followed by GDP after the Trump election.  A big reason was the expected tax cuts.  Had Trump reneged on that promise, that would have caused a recession since business would have to scramble to contend with a reality that is 180 degree different than expectation


    One other thing.  I check the to biggest spending departments as of 2008.  1&2 by a large margin are 1-Health and Human Services & 2 - Social Security.  Both expect to be spending at least twice as much in 2023.  there are only a handful of others expected to have growth that high and if memory serves me correct, all had low base lines relatively speaking.


    So the answer to debt and the deficit isn't higher taxes which are a job and economy killer.  The answer is welfare reform and social security reform.  On the latter, if people are now going to be routinely living to 100 then push the age up to 75 or 80.  I doubt anybody in this Great Again Nation of ours has contributed enough to Social Security to justify a 40 year payout


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    Soxillinirob
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    Re: 4. GDP

    Post by Soxillinirob on Mon Jul 30, 2018 9:06 am

    Deplorable Mark wrote:RobZ


    How on earth do you expect me to take you seriously when you spent the past eight years justifying Obama's absolutely horrible record on the deficit and debt?

    Maybe you no read so good?  Justifying Obama's record?  About all I did for Obama is state the stats.  I make absolutely NO assertions that Obama was good, bad, or great for the economy or the deficit or the debt.  In my opinion, he was fine in that realm.  I don't think Obama is particularly responsible for falling deficits in the middle of his terms or for the rising deficits near the end of his terms.  That said, the numbers during Obama's years are the numbers.  At least as the economy improved, the deficit generally shrunk not BECAUSE of Obama, but because that's what deficits are supposed to do during an improving economy.


    the last time I went thru the complete set of numbers, not just your cherry picked ones, you threw up you your cyber arms and proclaimed who give an F about the deficit.

    I don't claim to care any more now than in the past.  I'm an observer and a debater.  Do I particularly care about the deficit?  Not overly.  I'll tell you the degree of my care....when the economy is in recession or very bad recession I expect deficits and can live with them.  When the economy is in growth/boom mode, I expect either a surplus or at least to see the deficit improving.  Is that unreasonable of me?  I want to see growth times to right the deficit ship so that during down times we can increase gov't spending to provide economic stimulus.  I HARDLY think this is a radical opinion.  As it currently stands we're going down a sinkhole.  We just increased spending pretty dramatically, along with decreasing revenue with the the tax cuts.  We're well on our way, PER THE WHITE HOUSE BUDGET OFFICE, toward a $1.1 trillion deficit in the next fiscal year.  Geez, what happens when we have our next downturn?  $2 trillion?  $2.5 trillion?  I mentioned this before....I used to bank some pretty dumb-assed business owners that would show increasing losses from year to year as their revenues went up.  They'd have $5 mill in revenue and show a $100k paper loss.  Then they'd have $6 mill in revenues and show a $150k paper loss.  I'd sit down with them and tell them we need to address this and you know what they'd tell me???  Don't worry, Rob.  We're going to have $7.5 mill in revenues this year so we're fine.  I'd be like "Yeah, that's what I'm afraid of!  Maybe we can go back to $4 mill revenues when you showed a gain."  And this brings me back to my point a couple of days ago, which is to ask "If a growing/booming economy is going to take us from a 600B deficit to a 1.1Tr deficit, is there some other aspect of a growing economy that's going to get me excited, cuz I ain't fucking excited about this?"

    Do you even remember what you post, or is this one big frat boy joke to deliberately disagree with whatever I post

    You might wanna grow up and get past this ridiculous assertion.  It's old.  It's stale.  I have better things to do that deliberately disagree with anyone, except for my middle son, who I purposely fuck with all day long to drive him insane.  


    BTW, there is no denying the stock market took off followed by GDP after the Trump election.  A big reason was the expected tax cuts.  Had Trump reneged on that promise, that would have caused a recession since business would have to scramble to contend with a reality that is 180 degree different than expectation

    Caused a recession?!  That's a pretty big assertion, and it's unfounded.  We were cruising along for 7 years in slow, steady growth mode.  We were in a decent, not great, place and there were no signs of a slowing.  there were no signs of a slowing.  Recessions eventually happen.  We didn't need a tax cut to help our already healthy economy.  If you look at the last 8.5 yrs on a growth curve, the curve is very steady during that time.  We got a bump for Trump, based on some loose expectations, and it's been mostly flat for the first half of this year.  Whatever.  There's a recession coming, regardless...not because of Trump, but because recessions always come.  

    So the answer to debt and the deficit isn't higher taxes which are a job and economy killer. 

    Higher taxes on the highest earners have not killed jobs or the economy in prior years or generations.  There's no reason to believe so now.  Plus, I'm not running around touting higher taxes so much as noting that it was stupid to lower our already low personal tax rates.  Reforming the corporate tax structure makes perfect sense, but we didn't reform it.  We just cut the rate and increased the deficit.  None of that is turning into higher wages at this point.  



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