patrick.net

Peter P says

USD is still a preferred "risk off" currency. America is still great.

You have a point. Maybe the US is the worst country on earth, except for all the others.

I'm tempted to think some of the northern European countries are better, but of course they rely on Uncle Sam to defend them. They're like the adult children that live at home rent free. What happens when the parents go bankrupt and can no longer afford to be "guardians"?

JG1 says

Rand Paul will be interested to hear that.

One (or two) politicians does not a party make.

And if the Paul's had their way, we'd be right back to the Gilded Age (assuming we're not back there already).

sbourg says

Bob2356: See this chart of spending and let it sink in. During the 6 years of Bush-Republican budgets, federal annual deficits averaged $300B/year. Then even FY 9/30/08 was not so bad. But look at federal spending madness and annual deficits as they jumped to $1.2T/year.

Federal govt spending $1.2T/year MORE than revenue (the annual deficit for 4 yrs in a row now), is the equivalent of pumping money into the economy (BORROWED from our CHILDREN's working careers!) and is so large it's enough each year to give $20,000 to 60 MILLION people. That buys alot of votes Bob.....mostly Democrat voters! If you have children you should be pissed and worried:

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200

Only 300b AVERAGE deficit a year in the middle of the greatest bubble/boom economy in the history of the nation? When they took over it was plus 230. So the fiscally responsible republican's in total charge took 230+ turned it into average 300- while the economy boomed?

You're right, my definition of responsible fiscally conservative republican is a lot different than yours. Fiscal responsibility like this is why I became independent after 30 years as a republican in 2002.

What relevance does Obama's mess have to to with it? We were talking about responsible fiscally conservative republicans. At least Obama has the excuse of the greatest crash since the depression. What excuse is there for the Bush years?

bob2356 says

So the fiscally responsible republican's in total charge took 230+ turned it into average 300- while the economy boomed?

I wouldn't say the economy ever boomed during the Bush years. Unless you consider the artificial boom of the housing bubble.

The last time we had a real "boom" was back in the late 90s when the internet and computers changed everything. Even much of that boom was a bubble, as we all know.

But you're correct that fiscal conservatism is dead. Republicans have to buy votes too, particularly the votes of Old People, a major Republican constituent group.

bob2356 says

Only 300b AVERAGE deficit a year in the middle of the greatest bubble/boom economy in the history of the nation? When they took over it was plus 230. So the fiscally responsible republican's in total charge took 230+ turned it into average 300- while the economy boomed?

Bob - U have to realize and account for GOP fights for lower budgets, less spending, except on the item for which the federal government was primarily created to handle in the first place - national defense - but they are almost always saddled with Dems who have a majority or at least not a fillibuster-proof minority in one or both houses of Congress. And the Dems won't hesitate to accuse the GOP of racism, ageism, throwing granny off a cliff, etc. in the name of avoiding spending cuts. So it's a compromise. The last time the GOP really got its way, 1994, we had budget surpluses.

JG1 says

The last time the GOP really got its way, 1994, we had budget surpluses.

Fair enough, but what spending was the GOP really able to cut? There was welfare reform, but how much money did that actually save? Didn't Clinton successfully play the "grandma will be eating dog food" card and turn public opinion against the Republicans?

bob2356 says

Which one, there were like half a dozen. I didn't see any that I would call incredibly responsible. Where was all this responsible legistlation/budgets from 2000 to 2008 with a Republican president, senate, and congress. The debt grew like crazy. So now these same people are incredibly responsible? There is only the demapublican party now. I don't like the democrats much, but at least pre obama they would raise taxes to pay for their foolishness. Obama is just bush's third term.

He's waiting until he is reelected to raise taxes. On top of those already raised by Obamacare, that is.

Hey JG1, HonestAbe and CapnShuddup: We're in this together, watching Patrick's Libtards on display. They actually do NOT realize how dangerous Obama is. He's FDR x 2 on economic issues, and that's a problem ! Remember to get my recomm book "FDR: New Deal or Raw Deal "

They're not very good on History 2011 either. Who proposed a responsible budget? Boehner/Ryan and the Repubs voted it IN, passed it in August. But the Libtards don't care. In fact, they ridicule anything serious and responsible.

JG1: You're so right, 4 posts above about the Repubs during '01 to '07....they had to 'compromise' with the Dems because they didn't have 60 votes in the Senate. They wanted entitlements/Medicare to only grow by 30% in 5 years, Dems wanted 40%. The compromise by the petulant Dems was 39%.
Bush compromised and agreed to sign Ted Kennedy's prescrip drug plan.....and now Liberals bash Bush for adding to the deficit. Libs don't like it when Repubs don't compromise, and then they bash Repubs for being fiscally irrresponsible when they DO compromise. Hopefully President Romney will have a backbone against these jackwads in the Senate led by Harry Reid the senior jackwad.

Ryans plan doesn't even come close to repairing the damage caused by decades of radical liberal give away "free lunch" policies, programs, subsidies and the like.

Any one who fails to understand that is simply too ignorant to have any right to cast a vote, or being allowed to post at Pat.net.

And what anyone makes, or pays in taxes is none of YOUR business. Stop being a nosey, busybody...typical liberal.