"We can grow our way out of the deficit"

[redstate_democrat]

Some tool on Hardball just said this :wtf: in response to a question Tweety asked: Borrow from China or raise taxes? The Tool said we don't have to do either, we can "grow" our way out of a 10 trillion dollar national debt and trillion dollar budget deficit. :wtf:

What is it about basic economics that Republicans don't understand? Seriously. These people are crazy. I got my Forbes magazine today and on the cover is Forbes with a big headline that says How Capitalism Can Save Us or some bull crap.

[DrToast]

1. Wasn't that Bush's plan? n/t

[redstate_democrat]

2. How'd that work out for us?

He doubled the national debt and cratered the economy.

[Blarch]

3. That would be Ed Rogers.

[redstate_democrat]

9. He was a total asshole.

"grow our way out of the deficit". :wtf: How the hell can you grow something by starving it to death? These people's tax policies burden the middle class which has the effect of more consumer debt, default, lower consumer purchasing, etc. which has a domino effect on everything else. When you have entire industries struggling, there is no increased tax revenue there because these people aren't paying anything in taxes to begin with with all of the loopholes and tax credits they receive. There is no additional growth to tax because people can't afford to do the things necessary to "grow" the economy.

That's why Democrats say we need a STIMULUS to get the growth going. What do Republicans want to do? They want to starve the source that creates the growth in the economy even more.

[eshfemme]

24. Who the F@#k is that guy?

I smell a great addition to the new segment series on the Daily Show.

[aint_no_life_nowhere]

4. After many years of trickle down, I think it's time to experiment with trickle up economics

which is what Obama is proposing.

[Mme. Defarge]

5. Loved it when Matthews said,

"If 'unity' is a platitude, why aren't Republicans using it?"

[Wetzelbill]

6. they say outlandish stupid things with such crazed certainty that

for a second I actually stop and think, "Is that true?", but then realize that, no it's not true, it's insane.

The GOP has come to believe that slogans and wishful thinking substitute for actual good policy.

[BrklynLiberal]

7. So, Is Ed Rogers the biggest fool around, or the biggest liar? or both?

I am glad that the other guy...Bob Shrum?? kept calling him on his bullshit...

[RichardRay]

8. That's an article of faith with those guys, the ocean will crash

over their heads and drown them while they're still calling for more tax cuts, lower corporate tax rates, lower capital gains taxes and an end to worker's compensation, unemployment, Medicare and social security.

Economics has little to do with it, I'm pretty certain.

[Wetzelbill]

20. it doesn't

Facts either.

[PBS Poll-435]

10. Like "fucking for virginity"

These people are nuts.

Simply crazy.

[Wetzelbill]

21. yes I have tried that

It doesn't work. :evilgrin:

[TheKentuckian]

11. And by grow they mean shenanigans that manufacture non-existent resources from thin air

and create recessions when the game is up.

I could care less about their growth anyway, since all it does is increase a pie that 95-98% of us aren't invited to share and then when they overindulge and get sick they send US a bill for it.

[redstate_democrat]

13. Yes

See Savings and Loan Scandal
See Wall Street Bailout

Resources out of thin air = all of the above, tech bubble, exotic paper pyramid schemes on WS

What's next with these jokers?

[TxRider]

12. Actually it's the only reasonable way to get out of it.

We can't borrow our way out nor can we tax our way out.

Growing our economy is the best way out, the question is what policies will do that.

My opinion is the policies that best grow the job market here in the U.S., and grow our middle class.

[redstate_democrat]

14. No, he's saying that we shoud continue to give deep tax CUTS for the wealthy and corporations

and then a little here and there for everyone else. This won't WORK because then you have no revenue to cover the debts we have to pay. Then we get budget deficits. What we need to do is cut spending, raise taxes so that we have a TRUE progressive tax system, and create economic policies that grow the economy in a responsible way.

This man said that we can cut taxes in an irresponsible way and depend on some abstract speculative thing called "growth" in some future context to deal with our deficit problems. We can't continue to spend the way we do without raising taxes or figuring out a way to pay for it. Even if there is "growth", is the economy growing at the rate the deficit is growing? I believe the deficit just grew by 100% within the last month. Is the economy growing at the rate? Yes we need growth, but what good does it do with irresponsible tax cuts which force us to borrow and massive spending financing drug companies, the war machine, and big business interests who have enough money to buy a thousand lobbyists per congressperson.

[Orsino]

15. He's trying to say that.

But tax cuts don't mean growth, and growth is the way out of a deficit.

[TxRider]

22. I know what he's saying..

He's right in that we need to grow the economy..

He is wrong in how to go about it.

What will grow us out of this is a rising tide of middle class jobs, and rising wages.

What policies get us there is the debate, top down, bottom up, or a combination...

Taxes do nothing but shovel money around for the most part, but they can be used to direct money to the top, to the bottom, or to specific goals in industry.

Say you have a big capital gains tax increase, can you create a capital gains tax loophole to direct capital to something useful?

Say you give a cap gains break to any investor who sells stock, if he rolls it over into a startup alternative energy company within 30 days. That could attract billions to the alternative energy sector, provide an enormous amount of good jobs here inside the U.S., reduce our foreign oil demand at a breakneck pace, and grow our economy to relieve tax burden and debt.

Top down economics aren't exclusively good or bad, nor is bottom up economics exclusively good or bad. We need good smart ideas and not dogma right now.

We also need to look at free trade, and make it fair trade instead, and give our middle class a level playing field with Chinese workers and middle class.

[slampoet]

16. That is called HYPERINFLATION.

[Bucky]

17. Hey, that was Ronald Reagan's plan all along. Why change now that it's about to start working?

Any minute now, phase two, in which the magic growth spurt caused by squeezing the middle class out of existance will kick in!

[sendero]

18. It's always a toss up with these assholes...

... are they morons or are they just assuming everyone else is?

Unfortunately, there are still a lot of moron Americans that believe this bullshit. They will be cleansed of that belief in the coming years.

[gulliver]

19. So they are taking away the future $10 trillion of tax cuts we ...

... could have gotten because of the growth. And if you take away a tax cut, that's a tax increase.

[NYC_SKP]

23. Physically, Fiscally, Environmentally Impossible.....yet, typical.

it's that precise frame of mind that got us in this fuckpit.

I hate that so many feel that growth cures all ills, it's just flat stupid and wrong.

[Jed Dilligan]

25. If he's talking about cannabis indica/sativa, he may be onto something. nt