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Obama spending binge never happened

By Patrick   Follow   Tue, 22 May 2012, 3:47pm   703 views   4 comments
In Menlo Park CA 94025   Watch (1)   Share   Quote   Permalink   Like   Dislike  

http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22?link=MW_story_popular

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1. bgamall4 Follow Befriend (14) 761 threads 2,596 comments 63 male Las Vegas, NV bgamall4's website Premium

   1   4:23pm Tue 22 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   This is why Krugman is concerned. The spending never happened, so the recovery is small. I think that is because the banks sold inflation protection derivatives and as Ellen Brown said, cannot afford to pay any increase in inflation.

2. mdovell Follow Befriend (4) 28 threads 776 comments

   2   7:31am Wed 23 May 2012   Share   Quote   Permalink   Like   Dislike   Technically speaking was some of the bailouts for states and local governments spent by the feds or by them? If you include state and local spending how does it then look? Also it isn't up to Obama it is really congress that controls spending.

3. errc Follow Befriend (7) 30 threads 1,220 comments 31 male Premium

   3   12:39pm Wed 23 May 2012   Share   Quote   Permalink   Like   Dislike   Protected   I think that the events that have unfolded in recent history, might be able to teach us a lesson, on how to have a more efficient means of funding government. We've come to learn that we don't need budgets and we don't need tax revenue in order for the gov to operate. So let's decomplexify the process and do away with them altogether. So long as the fed can buy unlimited quantities of treasurys (why not at 0% interest?), we are golden Its actually similar to what Silvio Geselle suggested with "stamped currency", a tax on the money supply. The gov's operations, will be fully funded, via the currency debasing Viola, problem solved,,,,,next!

4. bob2356 Follow Befriend 3 threads 2,499 comments

   4   12:55pm Wed 23 May 2012   Share   Quote   Permalink   Like   Dislike   mdovell says Technically speaking was some of the bailouts for states and local governments spent by the feds or by them? If you include state and local spending how does it then look? Also it isn't up to Obama it is really congress that controls spending. Actually as a percentage of the economy the federal spending has been pretty steady for a long time. The state and local spending has exploded. When all the unfunded liabilities at the state/local level hit over the next 15-20 years 2007 is going to seem like a cakewalk.