Greenspan says country can't afford McCain's tax cuts

[kpete]

Run time: 00:41 https://www.youtube.com/watch?v=mIIVsNhdv8U   Posted on YouTube: September 13, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: September 14, 2008 By DU Member: kpete Views on DU: 890

 

[chill_wind]

1. A major statement McCain can't hide from. More factual fodder for Obama.

K & R

[szatmar666]

2. Not exactly fodder for Obama, on the contrary!

I mean let's not forget who Greenspan is. What he is saying is what a pres Obama will hear EVERY single day of his administration from the high priests of the con economy: "we just cannot afford programs helping americans". The whole point of W's 8 years & his taxcuts was to bankrupt the US govt so that all gov services are outsourced and taxes are used as a way to support the rich and powerful, sort of a reverse welfare state is what Greenspan and Co have in mind: taxcuts are great if you just privatize social security and the whole gov down to the last fire station and police dept. So that's what he is saying here: McCain's tax cuts are fine, except now we REALLY need to start privatizing social security!

[chill_wind]

3. You're right, but I'm not sure that's what the average American will hear.

Here's the Dem twist on that re: McCain:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=3994304&mesg_id=3994304

[szatmar666]

4. that's exactly why he's playing it all hazy and gerenspanish

and that's why i smell a fish: dems are jumping on the Greenspan bandwagon at a great peril to their own economic plans I'm afraid.

[Reform]

5. something needs to be done

With this 53 trillion dollar debt, its not going to magically disappear

[Stardust]

8. Welcome to DU, but I think your debt figure is a bit off. I believe it's close to $9.7 trillion.

Still a lot of money:

1 million seconds = 12 days

1 billion seconds = 32 years

1 trillion seconds = 32,000 years (that’s approximately 30,000 years before Christ!)

[szatmar666]

9. in that case we just nationalize Exxon

cause they make $1500/sec, which means we could pay back the whole national debt in 20 years if that was the only revenue for the federal gov ;)

[bmichaelh]

6. Does not even consider McCain Wars

This comment does not consider the wars that McCain may start, if elected.

[Winston.]

7. America is bankrupted...

yet Obama and McCain wants us to believe we can still increase military spending, it's not enough that we spend more than all the other nations combined, this is insane.