Let us first get the numbers right. A 4% growth per year of a 4 year Administration term is what? A total growth of 16% over the 4 years, yes? If we can agree there. Then we can do the math.
Today total US GNP amounts to $15.06t A 4% annual growth is $624b and 16% increase of that is 2.4t that Romney and Ryan wants to expand the US economy by. That is a taxable US economy of 17.46t at the end of their term.
624b increase in the GNP is also 109b in new tax revenues (35% of .5 of 624b) from business and 78b new tax revenues from individuals annually. Without raising the tax rate on either. Total new tax in the four years would equate to 748b in new tax revenue. Assuming a 50/50 split of individual to business tax. That is 748b for ? Debt repayment? For the Medicare voucher? For increase DoD spending?
I don't know how they would use the increased revenues. Agreed alone they don't cover the 16t debt. But Ryan budget to bring the government back 25% of the GNP from the 42% is the biggest piece of that fiscal puzzle.
That is 17% of todays 1.6t FEDERAl government going to debt repayment. Or is 272b annually in debt repayment. That is 1.2t knock down in four years. That is little under 1/2 of our foreign debt of around 2.5t
They are not going to knock down a 16t debt in four years. They are not saying that. Nor is Obama.
Compared to Obama's balanced solution.
He (via Bill Clinton last night) say that with a government that is consuming 11% of the countries 15t GNP, he is going to knock down the debt by 4t in 10 years. A government that has seen a 8% annual increase in his firm term. That with a government that is spending 38cent of every dollar on debt recovery. He can keep the benefits to 46m food stamp program and the 26m unemployed program running. And add a 1.6t tax based ACA health care program in 2014.
Which do you think is the more realistic plan?
Economic growth and prosperity out of the 16t debt hole or a tax based repayment of the debt with a expanding government? Were any failure of either plan means devaluation and austerity for the country? These are big decisions with no easy answers and long term consequences for the country.
Europeans say Kynesian like its it a dirty word. But the fact is Obama not been using Kynesian economic planning for the last 4 years. Were did it get us? Kynes has some stuff right on the money. You cannot discount his work on the supply side and demand side influencing price and inflation.
Obama increase in the price of gas products is a classic example of using Knyesian economic to get social change. He forces the country to go green by keeping the price of gas high, with high demand and high government taxes. So Obama knows his Kynesian economics as well. He just not use it for economic planning.
By the way...my Dad says the same about owing (L1000 or L1000000) that Kynes did. He never had a college econ course in his lifetime.
Just my opinion. I think that the answer is a compromise of the two plans. Not something that they do well in Washington. But of the two plans, I like grow and prosper better.
I found it. It was a Philly flight for Dallas. USAIR. returned to Philly. On the ground at Philly now and deporting. Authorities took a male passenger away, something about liquid explosives that is unclear presently
DEM don't see a poll bounce coming from the DNC. I think the momentum has changed. Romney and Ryan did not get a great bounce with the RNC. Said to be from 3 to 5%. But they are on upward track.
What started off as a constructive cooperation.....between the two parties led by the President.....turns into a pat on Joe Biden's back.
In Bill memory....lays the memories of the Chamber being kept from the WH Economic Summit. The forced implimentation of ACA. And the WH slammming the door to Majority Leader Boenher one time. Maybe Bill's memory needs defragging.
Bill does the next 3 min on Hillary Clinton and the done 'with the security team' to keep America safe!. I thought the job of the President was lead the security team of the United States. But Hillary has her own 2500 man army in Iraq.
According Bill....President Obama laid a foundation in economy that WILL 'produce millions of new jobs', 'WILL provide growth', 'WILL make a strong economy'....but Bill like Dude.....never tells us when.
Bill asks the question....ARE we better off today, than when President Obama took office? Then he site that we are not losing 750,000 jobs month. My question at this point. Is it the stimulus or private sector that stopped the economic free fall?
I think that there is a pretty good case for the private sector stopping the economic free fall. And not the economic stimulation of 928 selected firms with 800b. Bill says he has laid the foundation for a 'new shared prosperity'.
I think 'shared' here is a key. Meaning that the Private sector that is recovering, is going to wealth share with the other sectors that are non producing. E.G. the way you wealth share is to tax and give gov't benefit. Cute wording Bill. Thanks for telling us.
Bill is talking a lot of sharing. Shared responsibility. Shared ownership. Shared commitments. But no where does Bill offer to share the government with the REP. The REP should just 'constructively cooperate'. But Bill if you need the REP so much to run the government, then let us.
Bill dances around the REP claim that Obama took 716b from medicare. Bill says....Obama got the money for ACA from taking the advise of a health committee that closes the doughnut hole between drug and insurance. Bill really? 1.6t from a committee recommendation? Bill says that there were no cuts to benefits at all! In this he is right. The ACA does come about till 2014. Then you will have 716b taken from medicare to go ACA.
REP get it. It is a future redistribution of the medicare benefits. But still medicare is cut 716b in 2014.
Bill and the DEM are the party of 'fact checkers'! Instead of using their heads to reason, they need a man at a computer to determine the truth! DEM have always been big on fact checking. It is like having bobblehead doing your thinking.
Bill does talk about the debt for 5 seconds. And went straight to the interest rates that are low, so you too can borrow your way to wealth!! Bill says the debt will gobble up more of the FEDERAL Budget and take from benefits. Here is Bill is right. The debt already takes 38 cents of every Federal dollar. But does Bill give us a plan to get out the debt problem? President Obama's 'balanced approach' is the solution.
What is the "balanced approach"?
1) a 4t debt reduction over 10 years...6 year of non Obama government. 2) a 1 for 2 revenue increase to debt reduction till 2024 3) tight spending controls
Hmmmmmmmmmmm in rebuttal to Bill
1)we are at 16t today. That only bring us to 12t debt, only 2t more than when Obama took office! 2) a revenue increase is secret DEM wording for taxes. 3)tight spending controls like were on the GSA for the last 4 years?
Bill says nothing about the REP 4% GNP growth solution.
Bill says that Romney's not taxing the wealthy is a 5t in taxes. As I mentioned in the past.... wealthy have only 1.4t in net worth. Were do you get 5t in taxes from that?
But according to Bill....DEM math can do it.
I am sure it can Bill. Right with share the wealth distribution math that goes along side of it.
But Bill is not a loose cannon. It was a solid endorsement of President Obama.
"I don't belong to a organized political party. I am a Democrat."
The is a old joke from Will Rogers, repeated from a FOX newscaster.
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What did the honorable DEM party fail to replace in the DEM platform?
1) a section on Hamas being a terrorist group. And that funding should not go to it. Seem Washington has 1b headed to Hamas.
2) a section on the 'right to return' for Palestine to Israel from Jordan and Syria.
Allowing DEM leader to send Hamas a billion and gave the Palestines a approval to return to Israel. The rumor of Washington is that the check is in the mail to Hamas. President Obama put a stamp on it before he left for Charlotte.
What was that President Obama said? "We have Israel's back." Sure they do, with 1b in terrorist funding going to Hamas and permission for Arafat's Palestine to take choice properties in Israel.
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Debbie Schulz Wassermann became the biggest dodger at the convention. Earlier, according to Debbie, a conservative newspaper had misquoted her. The paper had her saying the REP party was "dangerous" to Israel. That she had heard none less than the Israeli Ambassador Oren say this.
Ummmmm....within a few hours Ambassador Oren publicially says he never made the statement.
Ummmm.....then Debbie says she never made the statement
Ummmm.....then the newspaper plays a recorded version of her saying the statement.
Ummmm.....then Debbie says she was taken out contest
So it is DNC Dodge ballgame again. Only Debbie does not have a ball to throw or to block with. Debbie does not have much on top either. She had to see the reporter with the big tape recorder.
Bill Clinton and his nomination of the enlightened halo'd one, the future grand master of Afghanistan and all lands between, leader of all Americans born, to be born, or were born, Include millions south of the border that have yet to make the trip. The man who for the last four year led the country to being the economic powerhouse that it is today.
I went to bed before Bill did his thing. So after watching a net replay. A couple of things come to mind.
Trying to paint the REP party as being controlled by the 'radical right' works? When the Party nominated a mid road Romney? Sorry Old Bill got this wrong. Romney won by a clear majority of the REP in the country. Romney is closer to the IND mid road voter than the most liberal President every elected is.
Cooperation. Old Bill makes big plea for cooperation. Across the aisle cooperation. When you are the party in power, you want cooperation. You want the other side to cooperate with any far left idea placed out there.
You don't want your AVA being opposed. Or called a Tax. You don't want your stimulus TARP II being opposed or being called a failure. Bill digs up some number from were....that says had a employment 'rating' of 66. And former REP president had a 'rating' of 42. Ever see someone spend a 'rating'? Either you have a job or you don't.
Bill does not want to site the real numbers here. He has to go mysterious 'ratings'.
I am for cooperation between the parties on things that benefit the American people and the country. But sending Hamas a 1b does not do that. Nor does staying in Afghanistan 1 more day, do that.
Bill tells us we should support President Obama because he is still committed to 'constructive cooperation'. Then site his record. He appointed 3 REP DoD jobs. He selected a VP that ran against him in 2008. And he trust Joe Biden to oversee the Iraq withdraw and the implementation of the ACA.
Right now QB Obama scrambling with the ball 25 yards behind the line of Scrimmage.....has a defensive tackle (Mitt Romney in his face) and defensive end (Paul Ryan coming hard from the side). His sole blocker Biden, was run over by Ryan on a power move.
Will he throw a wounded duck for a REP interception? Get taken down for a 25 yard lose on 4th down play? Fumble to Ryan who walks in with with TD?
Michelle Obama "We don't begrudge anyone's success or care that others that had much more they did.....in they (her parents) admired it. They simply believed that fundlamental American promise even if you did not start out with much. If you worked hard and do what you are suppose to do. You should be able to build a decent live for yourself and even a better life for your children."
Anne Romney.I am the daughter of a welsh coal miner. He was determined. Determined that his kids would get out of the mines. My dad got his first job when he was 6 years old in a little village in Wales. Cleaning bottles. When he was 15, he moved to the United States. And to the great state of Michigan.
But you watch. Anne Romney will be painted as a rich woman with a horse in the Olympics. And Michelle Obama will be the poor woman in the White House, with over 200 aides.
DNC just changed its language of the Platform on 'God' and 'Jerasulem' Taking a voice 2/3 call , 3 times the DNC considers the motion passed.
The DEM are blaming the RNC for making the point to the absent of 'God' and 'Jerasulem' forcing them to have the voice roll call.
By the way to me.....it sound 50 / 50 each time.
Oh please the next time anyone says Mitt Romney is a flip flopper....tell them the entire DEM party flipped and flopped during the DNC....LOL.
DEM saw a total disaster coming here. And it was. So much for those 469 LGBTs getting their "Godless" platform in.
Obama cannot keep the country fed, Dude. Sure a drought happened in this final year of this term. But we store grain. He let our energy prices increase that effects the distribution cost of food and cost at the market place.
He eats like a king.....18m families struggle to eat.
6) I can understand corporate profits growing when they billions is stimulus funds....
Dude you are cherry picking economic data to find any number that says the economy has improved. Live on main street USA.....and you know the honest answer.
It is the slowest economic recoveries in the history of the country. FDR had it done in 4 years after the Great Depression.
I have been hoping we would get there. Bishop Tutu's request to place Blair and Bush in the Haque for Iraqi War crimes. And how the Obama administration total ignored it. This goes back a few days. But the Arch Bishop Tutu said that Blair and Bush should be arrested and sent to the Hague for war crimes in Iraq. The Obama administration yawned. But who knows, Maybe it will be the big news of DNC. So hope most liberal around the world today.
My first instinct is to say.....what does a religious and spiritual leader have to with national or international justice. But then I remember that.....social justice thingee that liberals cling to more than God, Guns and the Bible. You know were you can make the rules up as you go along. Don't like someone....bring a little social justice on him.
Were you can use the Bible with the claim that it sets a case for social justice! Arch Bishop Tutu does. Crack open the bible and out comes some social justice.....get them war crime criminals Blair and Bush!! Arch Bishop Tutu appeals to the social justice of Barack Obama. Who?
Who cannot even use national laws to prosecute the three black panther on election crimes. Who cannot tell us about fast and furious. Who cannot stop illegal aliens from crossing the south west border to commit crimes in the US. Don't you think that asking Obama to do a act of social justice, when he cannot enforce the national laws of country is just asking to much of him?
Funny Arch Bishop did not say that about Sadam Hussien or Osama bin Laden. Must be selective social justice then.
Mitt Romney has DEMs fleeing the DNC convention! They are on the run and leave the building. Jumping the ship! Gesh and they are not even being tossed under the bus by the Obama administration. Rather.......
ABC just wanted to do a interview with him. Who is the him? Steve Spinner. Steve was the DoE official who is the center of the Solydrna scandle. Steve has been in hiding for a time. It goes like this. Steve's wive is a attroney for a firm that represented Solyndra. He signed a waiver saying he would not get involved in the loan process to Solyndra. Guess who breached the waiver? Stevie seems and he aid Solydrna to get the loan.
In a moment I will come back to the Navy Seal Chief that signed NDAs on his book No Easy Day. But this is too good. So let us continue with Stevie for a moment.
Stevie was down on the DNC floor.....when he ran into a ABC news crew that was looking for a shocking story. If Solydrna is not shocking and electrifying, what is? It has the nation enraptured for months now. How a firm can go bankrupt in two years of business has caught the nation's attention.
Seeing the ABC New Crew approaching with that very big microphone and the that even bigger live camera....Stevie bolted for the door. And a short chase commenced. Till floor security told the ABC news crew, no chasing or running in the building. Oh Rats. Just like High School. Giving Stevie time to make his escape.
The ABC news crew needs to drop some weight to catch Stevie. With the Romney and Ryan team in office, it will be lean and mean days. Stevie will not get away.
But how does this connect to the Navy Chief? Stevie signed a waiver that he broke. And the Obama administration is not chasing him down for criminal prosecution. Someone at the DNC gave passes to get into the convention. Stevie is still a welcomed figure. The Navy Chief signed a NDA, which is very close to a waiver. Yet the Navy Chiefs seem to be facing some charges.
You say Military and Civilian. I say good point. You say National security and government service. I say good point. You say he broke the code. I say they both broke the code of ethical behavior. One to explain a ending event that has the world in turmoil for 11 years. The other give green energy advantage in the Obama administration.
President Obama's military has been training 100s of Afghans for military duties that have ties to Taliban and alQeada. The Karzia government is detaining and discharging 100s.....a unknown 100s at the point. Of the 195,000 man Afghan army, some would be acceptable and understandable. But 100s?
This has to be reason for insider attacks that began 6 months ago. The Karzia government then began a broad investigation into those with contacts to the insurrectionist.
This has to set back President Obama 2014 plan to withdraw from Afghanistan. The withdrawal term has always been by 'the conditions set on the ground.' Now with 100s of Afghan military being release from duty and being detained, the on the ground condition can only be worse.
Mitt Romney asked the magic question of the President during the RNC. Why not bring them home tomorrow? Save the country billions in nation state building cost and many insider deaths.
But the young Commander in Chief, our next Alexander the Great.....will press on with the Afghan mission. Alexander the Great was the last foreign occupier to successfully invade and occupy Afghanistan. What he had to do to accomplish that, is now outlawed by today's Geneva Conventions.
Well with this little bit of news, I do hope that the DEMs at the DNC talk for hours on Afghanistan and Obama's war. They can begin to explain why Americans are dieing in insider attacks and in the SEAL TEAM 6 shot down. Both would be enlightening.
They may point a finger at Mitt Romney for not openly engaging in the Afghan war debate from the RNC. But seeing it goes so well. Come the televised debate......I suspect Mr. Romney armed with this and other information of the Afghan war.....will come out firing.
Like everything that comes from Washington, filing these charges is not done without a press build up.
My suggest. All Tea Party and REP cut a small check for the legal defense of Mark Owen in the future. He is going to need the money and the legal defense.
He did the country a real service in writing and in publishing this book.
LOL...I don't know who the Tea Party leader in that Virgina City is....but he just road side ambushed the President of the United States......and had fun doing it!
Another twist Dude? I said Obama's China policies have not worked to get China to change it UN veto on Syria. That he has failed to support the Christian churches in China, Egypt, Iran and elsewhere that face persecution.
As they came into the DNC, Obama approval numbers has began to slip... with women and with blacks
Capturing 56% of the women vote in 2008. President Obama has dropped to a 49% approval rating with women. And only holds a 4% lead over Romney 49 to 45.
After having 90% of the black vote in 2008. He had slipped to 83% 5 months ago and more recent poll has him dropping to 58% approval with blacks!
As President Obama fets on Kobe's steak while 46m American are on food stamps. As he entertains Muslims in White House post Rhamadam feast. As he sits down to $35,000 per plate fund raisers hosted by Hollywood and New York celebrity. He only had 60 of these, this last year.
How did FDR eat during days as a American President with 22m unemployed. As the country existed the Great Depression.
In 1939, FDR entertained the King and Queen of England at Hyde Park.
The fare:
Virgina Ham Hotdogs (if the weather permitted) Smoked Turkey Cranberry Jellie Green Salad Rolls Strawberry Shortcake Soda, Beer, Sofa drinks
You need to understand. FDR was one of the most wealthy in the country. He grew up in wealth. He was a 1%er. He could have served the King and Queen the best food in the country. Instead they are getting hotdogs and baked ham.
Why?
Because still 1939, America was still in a recession and men and women were in soup lines. FDR did not want to send the message, he was anything better than they. He knew that in open Hyde Park the press would be there and photos would be taken of the event. Hungry Americans would be offended to see a table of royalty and wealth.
But our President, while telling us.... "I am one you".....when a food stamp receiptant gets $133 for month's worth of food....is sitting down to a table of Kobe steak that one entry alone, buy a month's food allotment.
The DNC just cancelled the stadium event. The Obama acceptance speech will be done inside at the Charlotte Convention Center. 1000s of Obama supporter will not be able to attend the event now.
Hilly Clinton sent another losing diplomatic effort to China, trying to get China to change position on Syria. But though China will not reverse its position on Syria, currency, trade imbalance, the south China sea issues.....Hillary and her counter part parted 'vowing to work together'.
Wow have they worked together the last four years as China bought 1.16t of US debt. But the Administration cannot get the Chinese to change on even one major issue? Such success in the privates sector gets you fired.
Down in Hong Kong.....the former British colony.....the Chinese government begins to 'brainwash the citizens and students' with patriotic classes. Ah yes, just like North Vet Nam in the 1970s with reeducation classes for the South.
What can the Chinese do that will offend the Obama administration? Threaten to use WMDs on the Tibetians? On the Ghullies? On the Chinese people? That seems to be the only time Obama gets offended. Then we have lines in the sand. Not very straight lines but lines someplace in Syria.
Because he will not tell anyone what he will do. Surprise Surprise. Just every other deployment area of American forces will he tell what the plans are!
The administration silence on the Chinese human rights violations is so deafening quiet it scares the woodland wildlife. Little bambi out there, knows that there are 3m Chinese political prisoners digging up rare earth metal for iPods. But Obama cannot even turn Hillary lose on them, with that 1.16t ownership of T-Bills.
The Chinese have effectively silenced the world strongest voice for human rights, when it bought those American T-Bills. Barack Obama had one less thing to do in his first term. Protecting the oppressed in a foreign land, was no longer on the to do list.
Nor is protecting the under ground Church of China on his list. Or the hidden Church of Iran. Or the Egyptian Coptic Christians. Or the Christian girl in Pakistan falsely arrested. But Dude and President Obama wants that American Christian vote. You know that Christian vote often led by the Rev. Billy Graham family, that was excluded from the Pentagon prayer breakfast.
As Christians, our choice this year.....has never been so clear. Christianity is a faith of encompassing, uniting and compassion. Not a faith of division and baseless angered rheotric.
With a weakened Navy, that did not respond to Hurricane Isaac. Iran today announced it would soon have Iranian Navy ships off the coast of the United States.
With in the next few years, Iranian ships will be plying near or in US waters. By that time, Iran.....may very well have a nuclear weapons for those ships to carry.
With a direct threat to main land America, the Iranians proceed to hinder the military relationship between Israel and the United States. With a President that might be in secret discussions with the Iranians, is he approving of these Iranian Naval excerise in waters near the US?
This of course would work to the benefit of Iran, to know that the US was not going to consider the Iran vessels threatening. The Iranian would feel safe to send the vessels then.
Can we not even defend the coasts of the United States under this President? They did in WWII. In WWI. In the Cuban missile crisis. In the Spanish American war.
But a leaking administration that has little regard to the National Security of the United States.....seems to be more worried about the donations coming into the DNC for President Obama's campaign.
When you combine the LGBT agenda into the mix it does. The DEM took the reference from God from the DEM platform to satisfy the 465 LGBT delegates that are at the convention. The most LGBT delegates ever to a political convention.
The LGBT agenda has come to dominate the DEM party. It got Barack Obama to evolve his position on Gay marriage. It got the military to change ask don't tell.
But are LGBT representative of more of the 308m Americans? With such a strong influence in the admiistration.....does the DEM party still represent the married and middle class. The DEM have been harping o n bring the part of the middle class. But are they really?
With 4,315 votes.....and having 469 LGBT delegate....that average out to 10.9% of the delegates are LGBT. But in the country of 308m, the studies show that LGBT community is only 2.2% of the country.
DEM have out weighted the LGBT by five times in their party! Than the national average!! Kind of explains a lot of what happened this last four years, yes?
Let us talk Biden bumper sticker.....Osama bin Laden is dead and GM is Alive.
With contradicting versions of bin Laden death emerging. What is the true story of the events that night? Can we see the death photos to confirm even Biden's bumper sticker bin Laden death claim? This transperenct administration, seems to be hiding allot!
and what GM and the auto industry?
Do we want a auto industry, a private sector that is so tied to the Presidency that when the President speak.....their stocks rise or fall? Does that not make room for government corruption and influencing the the stock markets? Kind of like insider trading, yes?
President Obama has given himself......a incomplete grade.... for his first term. Well Mr. President you are out of college. We think. Not seeing your HARvard grades and courses....gives one to question that.
But you are in the big time. Incompletes are 'like kissing your sister. To paraphrase the former football coach of MSU on what a ties is. Good Lord, Mr. President. Incomplete?
Not even a B- for showing up to the meeting on the unemployment board? No, I guess you don't get the B-. Well maybe a C+ for getting the ACA passed. You mean you fibbed about the ACA being a tax 210 time during the 2008 race and cannot in good conscience take the C+.
Well how about a straight C? I am trying to be generous here, Mr. President. I hate see to four years of a Presidential term go without a grade. Surely you could hack a C, just passing a budget would get you a C. Your single budget submitted to the Senate was rejected 97-0. I see. Pretty hard to even the C, then.
Let us go for a D+! You woke up each morning and took the 3 AM phone calls and got the PB oil spilled straightened out. One out of three? You woke each morning. There were no 3 AM phones calls and it was a NY City Plummet that plugged the PB oil well.
We are down to a straight D, Mr. President. Man only one grade lower, a flamin F. We can get a D, right? You woke each morning. Then what? Meeting with the DoD and CIA intelligence reports right? Cut the spending. Made foreign business deals and trade pacts to help the economy. No. You played golf over 200 times. Traveled the world in Air Forces One. Had vacations in Hawii and Spain. Had a brewery placed in the White House.
I got it Mr. President. You are right. I cannot give you F. No real American wants to see his President fail. You are right Mr. President, this is incomplete term. One last question, Mr. President. Any reason a second term will not also be incomplete?
Of course Obama not going to read the Florida budget to know that. But one of his 500 White House advisers that is working on the High Speed Rail proposal ...just might take the time too. Is that asking to much?
Instead we get President Obama at the Tampa Airport....in a shot gun photo opt.....saying it time for High Speed rail. Here is the 3b. Governor Scot had asked and got the the reason for the trip.....and avoided the embarressment all together. Because he knew that this was not going to fly or was going to high speed zip.
Is that the way to do intra government deals? Hardly. All the three (FEDERAL, State and local) have to meet and agree. Then you do the public announcement of a project.
Instead President Obama has played the High Speed Rail card..time and again....with only one state....California....signing on to a high speed rail program.....that is over 2 times the estimated budget.
ttom500 Forum Posts (10,523)
RE: BEST VICE PRESIDENT FOR THE U.S.A.
Let us first get the numbers right. A 4% growth per year of a 4 year Administration term is what? A total growth of 16% over the 4 years, yes? If we can agree there. Then we can do the math.Today total US GNP amounts to $15.06t A 4% annual growth is $624b and 16% increase of that is 2.4t that Romney and Ryan wants to expand the US economy by. That is a taxable US economy of 17.46t at the end of their term.
624b increase in the GNP is also 109b in new tax revenues (35% of .5 of 624b) from business and 78b new tax revenues from individuals annually. Without raising the tax rate on either. Total new tax in the four years would equate to 748b in new tax revenue. Assuming a 50/50 split of individual to business tax. That is 748b for ? Debt repayment? For the Medicare voucher? For increase DoD spending?
I don't know how they would use the increased revenues. Agreed alone they don't cover the 16t debt. But Ryan budget to bring the government back 25% of the GNP from the 42% is the biggest piece of that fiscal puzzle.
That is 17% of todays 1.6t FEDERAl government going to debt repayment. Or is 272b annually in debt repayment. That is 1.2t knock down in four years. That is little under 1/2 of our foreign debt of around 2.5t
They are not going to knock down a 16t debt in four years. They are not saying that. Nor is Obama.
Compared to Obama's balanced solution.
He (via Bill Clinton last night) say that with a government that is consuming 11% of the countries 15t GNP, he is going to knock down the debt by 4t in 10 years. A government that has seen a 8% annual increase in his firm term. That with a government that is spending 38cent of every dollar on debt recovery. He can keep the benefits to 46m food stamp program and the 26m unemployed program running. And add a 1.6t tax based ACA health care program in 2014.
Which do you think is the more realistic plan?
Economic growth and prosperity out of the 16t debt hole or a tax based repayment of the debt with a expanding government? Were any failure of either plan means devaluation and austerity for the country? These are big decisions with no easy answers and long term consequences for the country.
Europeans say Kynesian like its it a dirty word. But the fact is Obama not been using Kynesian economic planning for the last 4 years. Were did it get us? Kynes has some stuff right on the money. You cannot discount his work on the supply side and demand side influencing price and inflation.
Obama increase in the price of gas products is a classic example of using Knyesian economic to get social change. He forces the country to go green by keeping the price of gas high, with high demand and high government taxes. So Obama knows his Kynesian economics as well. He just not use it for economic planning.
By the way...my Dad says the same about owing (L1000 or L1000000) that Kynes did. He never had a college econ course in his lifetime.
Just my opinion. I think that the answer is a compromise of the two plans. Not something that they do well in Washington. But of the two plans, I like grow and prosper better.