Teabaggees

chaos said:
Lefties aren't the ones who had teabags hanging in their face while telling government to keep its hands off their medicare.
Lefties aren't the ones who think austerity will somehow miraculously create jobs and grow the economy.
Teabaggees know the government is broken beyond repair so there is some common ground for us to find.
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lefties ARE the ones claiming that banning guns in certain areas will prevent mass murders
lefties ARE the ones claiming that the 2nd Amendment means only the cops and military have a right to own guns
lefties ARE the ones claiming that creating a living wage will raise the lower economic class in to prosperity
 
Threedee said:
Lefties think an overbearing national debt will magically create jobs and establish long-term growth to the economy.
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Nothing magic about the macro accounting identity: the debt of the government equals a net gain to the private sector (and the foreign sector).

If the private sector's gain is invested properly (e.g., a "bottom-up" approach consisting of "giving ordinary people money") it will increase effective demand and the economy will grow and more jobs will be added.

The government's debt is nothing to be feared, it must be considered in the context of the economic situation, and not moralized. The belief that national debt should always be smaller is pure dogma.
 
The government's debt is a net gain to the government. National debt becomes unsustainable when the payments owed on interest are greater than government revenues.
 
Asoka said:
Nothing magic about the macro accounting identity: the debt of the government equals a net gain to the private sector (and the foreign sector).

If the private sector's gain is invested properly (e.g., a "bottom-up" approach consisting of "giving ordinary people money") it will increase effective demand and the economy will grow and more jobs will be added.

The government's debt is nothing to be feared, it must be considered in the context of the economic situation, and not moralized. The belief that national debt should always be smaller is pure dogma.
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You actually believe this garbage don't you? So why even have a debt? I mean we obviously have zero intention of ever paying it back. So why bother? Or is it really important to keep up the illusion?
 
I Love America said:
I want them gone. But I guess you are saying your demoKKKrat party had nothing to do with the debt? Is that what you are saying? The demoKKKrat party is full of a bunch of deficit hawks?

Really?
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I'm saying your party ran up the bulk of it and Democrats tend to bring it down.
 
all the numbers prove that dems are better with the economy


the right just lies and obfuscates about all the facts



they don't want people knowing the facts

its why they hate public education
 
Asoka said:
Nothing magic about the macro accounting identity: the debt of the government equals a net gain to the private sector (and the foreign sector).

If the private sector's gain is invested properly (e.g., a "bottom







this is post 23


for some reason my quote function is all screwed up.






debt is a tool
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chaos said:
Stop drinking the koolaid and try thinking for yourselves. Only then can we find common ground.
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so you want them accept only some facts?


if you accept all the facts you have to leave the republican party or support fucking lies
 
I Love America said:
You actually believe this garbage don't you? So why even have a debt? I mean we obviously have zero intention of ever paying it back. So why bother? Or is it really important to keep up the illusion?
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Yes, I do indeed believe it, in much the same way I believe in, you know, science. If the macro accounting identity is wrong, then so is double-entry bookkeeping.

The reality is that debt is a tool [good phrase evince] and moralizing it is silly.

Threedee said:
The government's debt is a net gain to the government. National debt becomes unsustainable when the payments owed on interest are greater than government revenues.
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False. The government's debt is a net gain in financial assets for the private sector. This is a very simple principle. Whenever debt is created, so is an equal amount of credit--that is just how things work. So a government debt in the amount of $100,000 would mean net assets worth $100,000 to the private sector (we'll leave out the foreign sector for now).

http://multiplier-effect.org/files/2011/11/US-Sectoral-Balances_Berlin.png

Now, next, the government's debt might become "unsustainable" if it has done something silly like agreed to convert its currency on demand to another currency or to gold, but as the US is running a floating exchange rate it is "currency sovereign." Its debt can never be "unsustainable" because the government prints money whenever it spends it. Indeed, spending actually precedes taxation or borrowing if you follow the accounting in detail.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=115128

This paper investigates the commonly held belief that government spending is normally financed through a combination of taxes and bond sales. The argument is a technical one and requires a detailed analysis of reserve accounting at the central bank. After carefully considering the complexities of reserve accounting, it is argued that the proceeds from taxation and bond sales are technically incapable of financing government spending and that modern governments actually finance all of their spending through the direct creation of high-powered money. The analysis carries significant implications for fiscal as well as monetary policy.
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there is a faction in this country who refuse any facts that they cant bend to their will.



it why they invented the phrase "politically correct".


that way when they get excoriated for denying FACTS they can just claim they are being persecuted for being different
 
Asoka said:
Yes, I do indeed believe it, in much the same way I believe in, you know, science. If the macro accounting identity is wrong, then so is double-entry bookkeeping.

The reality is that debt is a tool [good phrase evince] and moralizing it is silly.



False. The government's debt is a net gain in financial assets for the private sector. This is a very simple principle. Whenever debt is created, so is an equal amount of credit--that is just how things work. So a government debt in the amount of $100,000 would mean net assets worth $100,000 to the private sector (we'll leave out the foreign sector for now).

http://multiplier-effect.org/files/2011/11/US-Sectoral-Balances_Berlin.png

Now, next, the government's debt might become "unsustainable" if it has done something silly like agreed to convert its currency on demand to another currency or to gold, but as the US is running a floating exchange rate it is "currency sovereign." Its debt can never be "unsustainable" because the government prints money whenever it spends it. Indeed, spending actually precedes taxation or borrowing if you follow the accounting in detail.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=115128
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1) Why can't other nations, such as Greece and mid-90s Russia get away with endless debt?
2) I said nothing about the gold standard. I definitely said nothing about morality!
3) Have indebted nations ever gotten in trouble printing currency?
 
chaos said:
Stop drinking the koolaid and try thinking for yourselves. Only then can we find common ground.
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Irony; a kook-aid drinking leftist whining about drinking kool-aid.

How about this; Conservatives will find common ground with leftTards when you loonies grow a fucking brain!
 
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