Perception v. reality (political)

[flockofseagulls104]

The deficit is relatively low, now, and also relatively unimportant because were have not yet recovered from the demand-based Great Recession. That won't always be the case, though, and at some point we will again be in an economy where it's important to control the deficit to prevent inflation from becoming undesirably large.

Bob, I specifically refer to the DEBT, not the deficit. Our National Debt is 18 Trillion dollars at this point. The deficit, whether it is down or up, is a deficit. It is negative, which means it adds to the National Debt. Our interest rates have been held artificially low for some time now, and we have done several rounds of Quantitative Easing (printing more money). If and when things normalize, we will be in heap big trouble, according to many economists who aren't Paul Krugman.

You say the National Debt is not a problem. Others disagree with you. Whom is telling the truth?

[Bob78164]

The deficit is relatively low, now, and also relatively unimportant because were have not yet recovered from the demand-based Great Recession. That won't always be the case, though, and at some point we will again be in an economy where it's important to control the deficit to prevent inflation from becoming undesirably large.

Bob, I specifically refer to the DEBT, not the deficit. Our National Debt is 18 Trillion dollars at this point. The deficit, whether it is down or up, is a deficit. It is negative, which means it adds to the National Debt. Our interest rates have been held artificially low for some time now, and we have done several rounds of Quantitative Easing (printing more money). If and when things normalize, we will be in heap big trouble, according to many economists who aren't Paul Krugman.

You say the National Debt is not a problem. Others disagree with you. Whom is telling the truth?

The evidence (in the form of microscopic interest rates and a relatively low fraction of the budget going to debt service) says that I am. People have been saying for six years now that high inflation rates are a year or two away. We're still waiting, both for the high inflation to actually materialize and for someone not named Paul Krugman to call them on their bullshit. --Bob

[flockofseagulls104]

The deficit is relatively low, now, and also relatively unimportant because were have not yet recovered from the demand-based Great Recession. That won't always be the case, though, and at some point we will again be in an economy where it's important to control the deficit to prevent inflation from becoming undesirably large.

Bob, I specifically refer to the DEBT, not the deficit. Our National Debt is 18 Trillion dollars at this point. The deficit, whether it is down or up, is a deficit. It is negative, which means it adds to the National Debt. Our interest rates have been held artificially low for some time now, and we have done several rounds of Quantitative Easing (printing more money). If and when things normalize, we will be in heap big trouble, according to many economists who aren't Paul Krugman.

You say the National Debt is not a problem. Others disagree with you. Whom is telling the truth?

The evidence (in the form of microscopic interest rates and a relatively low fraction of the budget going to debt service) says that I am. People have been saying for six years now that high inflation rates are a year or two away. We're still waiting, both for the high inflation to actually materialize and for someone not named Paul Krugman to call them on their bullshit. --Bob

http://www.wsj.com/articles/SB100014240 ... 0249153032

As I said, we have used artificial means to avoid the consequences of an astronomical debt. And we keep adding to it, perhaps at a reduced rate. We are out of tools, I hear. Paul Krugman is an ideologue, like you. You think he's right. I think he's wrong. I (and many other more qualified people) think there's a reason why we have historically tried to avoid going into so much debt in the past. You (and Paul Krugman and his minions) say it's alright, there are no bad consequences, because nothing has happened yet.

To who shall we give our confidence?

[Bob78164]

As I said, we have used artificial means to avoid the consequences of an astronomical debt.

[broken record]Please provide a statutory reference to the Affordable Care Act supporting your claim that a "small group of unelected people" is authorized to determine what care is available, or admit that you were mistaken about the facts. (While you're at it, you might explain how that's different from the pre-Obamacare situation, when large groups of profit-motivated unelected people called insurance companies decided what care you could get by deciding what care they would pay for.)

Please provide reliable statistics demonstrating the the poverty rate now is higher than it was in 1964, when LBJ launched the War on Poverty, or admit that you were mistaken about the facts.

Please identify with particularity the "artificial means" you claim we have used to avoid inflation and high interest rates in the world's largest economy or admit that you were mistaken about the facts.[/broken record] --Bob

[flockofseagulls104]

As I said, we have used artificial means to avoid the consequences of an astronomical debt.

[broken record]Please provide a statutory reference to the Affordable Care Act supporting your claim that a "small group of unelected people" is authorized to determine what care is available, or admit that you were mistaken about the facts. (While you're at it, you might explain how that's different from the pre-Obamacare situation, when large groups of profit-motivated unelected people called insurance companies decided what care you could get by deciding what care they would pay for.)

Please provide reliable statistics demonstrating the the poverty rate now is higher than it was in 1964, when LBJ launched the War on Poverty, or admit that you were mistaken about the facts.

Please identify with particularity the "artificial means" you claim we have used to avoid inflation and high interest rates in the world's largest economy or admit that you were mistaken about the facts.[/broken record] --Bob

[/broken record] --Bob[/quote]
Yes, you are. No answers from you, just games.

[SportsFan68]

. . .Those of us who have come to the conclusion there's another way think the solution is in the realm of the cultural, not the financial. The financial solution, which can be described as socialism, has been tried many times and has never worked. Capitalism built this country into the most prosperous socity the world has ever known. . . .

FICA provides for Social Security and Medicare, both of which were described in no uncertain terms as socialism. The shrieks of opposition then are exceeded now only by shrieks of support when anyone proposes ending those programs, and they work well for millions of seniors. In other words, if you accept the opposition description of the programs as socialism, it is flatly not true that socialism has never worked.

[Bob78164]

The fraction of Americans without health insurance is at or near historic lows. That's approximately another 9 million Americans who have obtained health insurance since (and in my view, because of) the adoption of Obamacare. --Bob