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Post by cadman on Jun 24, 2024 8:01:13 GMT -5
No we haven’t. Clinton, maaaaybe. Just a little. Other than that single maybe, it’s been a big HELL NO! Clinton didn't shut off the money spigot. Spending increased every year. Clinton raised taxes and tax revenue. Also, the booming economy of the 1990s did hurt revenue either.
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Post by walkerdog on Jun 24, 2024 14:11:46 GMT -5
Agree. Balancing spending with revenue was what I was meaning. Don’t think anyone else has even tried to come close to a balanced budget since then. Even when taxes have been increased, spending has also gone up.
All that’s done is to cause us to lose on both sides of the equation. If they aren’t ever going to curtail spending, at least let me keep more on my money. I can spend it more efficiently than Govco anyway.
I was looking at a prospectus today on management costs for a nearby piece of public land that’s undeveloped. Their annual numbers for management expense just to keep it that way were about 20% of the value of the land. If that were the private sector, they’d be out of business in short order. Pretty insane!
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Post by misterjr on Jun 24, 2024 15:56:41 GMT -5
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Post by johngalt on Jun 25, 2024 21:07:29 GMT -5
Ya, retire a bunch of aircraft carriers? Those may be our strongest military advantage. Sure , retire the old ones and replace with newer advanced equipment. Actually the submarine fleet is. Carriers are just expensive targets.
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Post by johngalt on Jun 25, 2024 21:09:33 GMT -5
No we haven’t. Clinton, maaaaybe. Just a little. Other than that single maybe, it’s been a big HELL NO! Clinton didn't shut off the money spigot. Spending increased every year. Clinton raised taxes and tax revenue. Also, the booming economy of the 1990s did hurt revenue either. Now explain why the the federal government has to go into debt when it takes in a little over 3.4 trillion dollars annually?
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Post by cadman on Jun 26, 2024 7:25:16 GMT -5
Clinton didn't shut off the money spigot. Spending increased every year. Clinton raised taxes and tax revenue. Also, the booming economy of the 1990s did hurt revenue either. Now explain why the the federal government has to go into debt when it takes in a little over 3.4 trillion dollars annually? Because they spend more than $3.4 trillion annually. That was easy. Now for the difficult part. I already said they should freeze spending at current levels. There is no way they will cut spending, but it seems they could just stop where they are and not spend any more per year until the revenue catches up. I think that is about as simple as it gets. But you have various politicians promising to cut taxes and increase spending to support whatever cause is the current favorite and get elected. You can not do both, which is something neither the Democrats or Republicans understand. Just freeze both at current levels. Spending at the current amounts and revenue at the current rates. As GDP increases, revenue will naturally increase and catch up to expenses, like it did in the 90s under Clinton. Once revenue surpassing expenses, then every decision to cut revenue or increase spending must be coupled with the offsetting means to pay for it. You want to spend more on military, you cut something else or raise taxes. Want to spend more on welfare, cut something else or raise taxes. The only time deficit spending would be allowed would be during a recession or natural disaster or congress declares war. Only exception would be Social Security, due to the fact they have ignored fixing it for ten years now and they need to address and fix it. Make it harder to get disability, removing the earnings cap taxable wages, increase the tax, and/or raise the retirement age. Some combination of those 5 things needs to happen to keep Social Security solvent.
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Post by Captj on Jun 26, 2024 10:40:11 GMT -5
You're asking Washington to agree on something which benefits all citizens? If recent history has taught us anything the politicians will wait till the issue is an emergency then will do something stupid.
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Post by Reptile Dysfunction on Jun 27, 2024 14:02:59 GMT -5
I don't speak about anyone but myself and my fiancée of 25 yearsShe still hasn't married you, I see. Some things never change.
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Post by cyclist on Jun 27, 2024 15:17:37 GMT -5
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Post by misterjr on Jun 27, 2024 15:24:59 GMT -5
I don't speak about anyone but myself and my fiancée of 25 yearsShe still hasn't married you, I see. Some things never change. Oddly enough, you seem to be the only one that cares, she and I are very happy together.
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