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Free Fall

March 5, 2014

To the Readers’ Forum: Our great country is in free fall, not only in debt wise, but morally and spiritually. Our government keeps spending more than it takes in....

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DavidVA

Mar-24-14 12:51 PM

@bluesman -

The deficit (not the debt) is a problem when it's generated in the wrong way for the wrong reasons. When unemployment is high, deficit spending puts people to work - people who spend money and pay taxes. When unemployment is low, defict spending produces inflation. You do see the difference here I hope.

Then there is the issue of how they get created. Huge tax cuts for the wealthy create no jobs, but they do use the money for gambling. All the bubbles (real estate, stocks and commodities) originate that way. If the tax cuts went to people like us, the money would be put to use.

Better still, we need to start fixing whate broken, and build the next big things. The Europeans and Chinese are way ahead of us, but we're stuck with big tax breaks for Billionaires and declining spending on everything we need. One day, we'll awaken to find we're a Third World country, with plenty of Billionaires and paupers, just like the rest.

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DavidVA

Mar-20-14 4:38 PM

... competing my previous -

He's a bit too conservtive on economics to suit me, but why shoudl that be a surprise? He taught at the University of Chicago - the home of conservtive ecnomics in the US.

But New Yorkers should feel comfortable with UC. It would have been Rockefeller University, if John D hadn't nixed the idea. He did pay to get it going.

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DavidVA

Mar-20-14 4:32 PM

bluesman wrote, "No one said we should pay it off. You can't just let it keep going up, up, and up. Even Obama said the debt was "unAmerican." And, as you probably know, but have conveniently forgotten. It was "only" 9T when he said that. Hey Dave, is it possible he was just lying to get votes?"

When you crash the economy, taxes fall and outlays rise. Spending by the federal governement can make up for the amount that people and companies stop spending in bad times. This keeps the economy running until the rest of us can start spending again.

If that doesn't happen, then the economy goes soft, hiring slows and pay stagnates. How can the economy get going then? Answer: it can't!

So the debt is not an issue, per se. And yes, it can go up forever. If it rises more slowly than the economy grows, the debt ratio drops. That happens in a good economy, which needs to be encouraged, not prevented.

I can't speak for Obama. He's too conservative on eco

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DavidVA

Mar-18-14 2:30 PM

bluesman wrote, "Once republicans make it clear to young voters just who is going to have to pay back the 17 trillion, it's lights out for Dems."

I know this runs 180 degrees counter to your thinking, but the public debt is never paid-off ... ever. Well, Andrew Jackson did pay it in full - january 1835, which triggered the worst depression to that time, from 1837 to 1844. It's never been paid since.

As an example, let's take the debt that paid for WW-II. By the end of the war, the total accumulated debt was 126% of the GNP. WIthout paying one dime, the debt declined to 32% of GNP by the early 1970s. Today, the WW-II debt, still there in full, is just 6% of GDP.

That's the beenfit of mild inflation and economic growth, both of which seem to be anathema to conservatives.

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DavidVA

Mar-12-14 4:45 PM

50s wroe, "I'd give a testicle to see Hillary and Lerner get the slammer."

I think they're safe.

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DavidVA

Mar-12-14 4:32 PM

Responding to me, 50s wrote, "221 Marines. 241 total servicemen.

Reagan responded by doing what you LW ers always ask for....pulled out rather than waste lives on a lost cause."

Of course, Saint Ronald gets a pass on everything because, well, he's Saint Ronald.

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EaglesWings

Mar-12-14 8:01 AM

gravel, was the statement made, or not? It was a rhetorical question/statement which an answer was not required, in other words, the answer was in the statement made.

Most intelligent Americans interpreted that statement as uncaring, indifferent, self-centered, and agenda-driven. What part don't you understand? Deal with it - it's FACT.

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EaglesWings

Mar-12-14 7:34 AM

grrrrravel, lets do this right.

Slam your hand on the table, if you wear glasses get them nice and foggy, and yell at the top of your voice, "What difference does it make?"

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50s4ever

Mar-11-14 9:40 PM

Geez. Name callers sure are a touchy bunch. Besides the dead...how do you feel about being above the law, and not having to answer why you misled the world on a lie about a video?

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50s4ever

Mar-11-14 9:35 PM

I'd give a testicle to see Hillary and Lerner get the slammer.

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50s4ever

Mar-11-14 9:35 PM

Feds bust major crooked funder of Dems including Hillary for using LULAC to channel millions, violating their 501c status. Ahhh....the rich flavor of Latin politics is like...Chicago.

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50s4ever

Mar-11-14 8:05 PM

I doubt there is anyone here who paid for my rights....but some who seem to think they control them at whim.

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threestrikesout

Mar-11-14 6:45 PM

4:21 PM - "...even for a low life like you..." that's awful. just plain awful. I am sure there are many more superlatives to define someone who makes a comment like that. i'm still shaking my head.

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50s4ever

Mar-11-14 3:36 PM

221 Marines. 241 total servicemen.

Reagan responded by doing what you LW ers always ask for....pulled out rather than waste lives on a lost cause.

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DavidVA

Mar-11-14 2:51 PM

From bluesman, "Those who are ok with letting four Americans die will support Hillary."

Give it a rest. If 4 dead at the Libyan embassy is grounds for keelhauling, how about castigating Reagan for losing 138 Marines in Beirut? Note: the response from Reagan was to tuck tail and leave. The liberal media even gave him a pass, though that may have been overly generous.

In those days, politics stopped at the water's edge. You might pass that along to FoX.

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DavidVA

Mar-11-14 2:45 PM

bluesman sroe, "The NY times is a far left publication. You just don't realize it because you're far left. Kinda like a fish doesn't know he's wet. I miss the GWB good ol' days when we were only 9T in debt. Cruz won't win but Paul could. He's not as far right as you think. Didn't the NY times tell you that?"

The NYT is liberal, but far from Far Left. For Far Left, try the Daily Worker. A far as Paul is concerned, his philosophical bent wil lead to no regultion of the oligarchs, and we will pass through Gilded Age 2.0, where we are today, directly into Feudalism 2.0

How do you feel about serfdom?

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50s4ever

Mar-11-14 2:28 PM

Don't forget "I hate my white side "Perry

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50s4ever

Mar-11-14 8:30 AM

MSNBC-Shultz and Sharpton. I can't get the rest of the names out, because I'm gagging on the first two and it doesn't improve.

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50s4ever

Mar-10-14 5:00 PM

pit- just shows you how much power your people have to control media and promote liars to public office.

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DavidVA

Mar-10-14 2:23 PM

bluesman srote, "Far left hate sites don't count as research."

A lot of my information comes from that far-left publication, the New York Times. Other info comes directly from the data at the Bureau of Economic Research, the Federal Reserve and, in the case of Daryl Issa, his own words.

Right-wing wacknuttery has had a good run. It outlasted the left-wing equivalent from the '60s by decades. But in the end, it's still nonsense. Heaven help us if a Rand Paul or a Ted Cruz is elected. We survived GWB, I'm less sanguine about doing it again.

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50s4ever

Mar-09-14 5:48 PM

I wonder if Warren would be sworn in by her tribal chief?

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RLMorrison

Mar-09-14 11:58 AM

gravelpit--not just this and the previous, but for my adult life, and I'm 71.

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RLMorrison

Mar-08-14 7:58 PM

If free fall means ignorant foreign policy, suicidal domestic policy, ill considered social structuring and campaigns that smack of a TV reality show, yes.

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Emelye

Mar-08-14 11:53 AM

Maybe Hillary won't be nominated. Maybe it'll be Bernie Sanders or Elizabeth Warren.

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Emelye

Mar-08-14 10:49 AM

I tend to agree with Mr Thompson that our country is suffering, both morally and spiritually. Probably for different reasons though.

I believe we are living in a society that praises and rewards corporate and personal greed. We have a sizable portion of our population who have embraced selfishness and cruelty toward those who are worse off than them. A reactionary right wing uses the rhetoric of a religion that originally endorsed the feeding and care of the poor, sick, and hungry, to justify their moral bankruptcy.

We have indeed slipped back into moral and spiritual milieu that harms and oppresses the majority in our country. Good thing we still have a number of people who can see through the wiles and propaganda of people like Mr Thompson and work against it.

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