The W
Views: 178998594
Main | FAQ | Search: Y! / G | Color chart | Log in for more!
28.3.17 0726
The 7 - Current Events & Politics - What Would Newt Say? Register and log in to post!
(1964 newer) Next thread | Previous thread
User
Post (6 total)
spf
Scrapple
Level: 144

Posts: 2117/5410
EXP: 35857957
For next: 852437

Since: 2.1.02
From: The Las Vegas of Canada

Since last post: 3069 days
Last activity: 404 days
AIM:  
#1 Posted on 15.7.03 1145.47
Reposted on: 15.7.10 1148.21
As I recall the visual of Newt Gingrich holding up his Congressional Voting Card and proclaiming it "the world's biggest credit card." and then sweeping Republicans to victory on the Contract With America, I wonder what happened internally in the GOP to go from wishing to amend the Constitution to forbid budget deficits to now using their control of Congress to end up with the largest budget deficit in US history, some $475 Billion (story.news.yahoo.com)

Promote this thread!
godking
Chourico
Level: 39

Posts: 193/274
EXP: 401318
For next: 3457

Since: 20.10.02
From: Toronto

Since last post: 7349 days
Last activity: 7295 days
#2 Posted on 15.7.03 1155.24
Reposted on: 15.7.10 1158.52
What's really impressive is that the $475 billion figure doesn't count the cost of Iraq and Afgahanistan. Count those in, and this year's deficit is well over half a trillion dollars - and, as a percentage of GDP, a point higher than the deficits the United States carried during the 89-93 recession which both parties agreed were untenable.
PalpatineW
Lap cheong
Level: 83

Posts: 766/1528
EXP: 5382424
For next: 49820

Since: 2.1.02
From: Getting Rowdy

Since last post: 6274 days
Last activity: 6116 days
AIM:  
#3 Posted on 15.7.03 1257.08
Reposted on: 15.7.10 1258.10
Right on, spf. I know you didn't mean it this way, but I too yearn for the political spirit of Newt Gingrich. Bush is only half a conservative, in my mind. Too much damn spending.
Pool-Boy
Lap cheong
Level: 88

Posts: 1359/1761
EXP: 6572265
For next: 78425

Since: 1.8.02
From: Huntington Beach, CA

Since last post: 206 days
Last activity: 163 days
#4 Posted on 15.7.03 1315.17
Reposted on: 15.7.10 1315.24
I gotta concur as well. Spending needs to be cut DRASTICALLY. Cutting taxes is only one part of the puzzle. You have to do both.

I don't understand the inability of politicians on both sides of the aisle to spend responsibily. Like kids in a damned candy store with my money...
spf
Scrapple
Level: 144

Posts: 2118/5410
EXP: 35857957
For next: 852437

Since: 2.1.02
From: The Las Vegas of Canada

Since last post: 3069 days
Last activity: 404 days
AIM:  
#5 Posted on 15.7.03 1337.43
Reposted on: 15.7.10 1338.10
FWIW Palp, I respected Gingrich a hell of a lot more than most of the current lot of folks. I always had the sense he meant what he said, even if I disagreed with it. He struck me as an ideologue, but not as much of a liar. I'll take the former any day of the week, since at least then you know what you're dealing with and can choose whether to support or oppose accordingly.
Corajudo
Frankfurter
Level: 63

Posts: 152/810
EXP: 2037492
For next: 59671

Since: 7.11.02
From: Dallas, TX

Since last post: 3550 days
Last activity: 3053 days
#6 Posted on 16.7.03 1656.12
Reposted on: 16.7.10 1659.01

    Originally posted by godking
    What's really impressive is that the $475 billion figure doesn't count the cost of Iraq and Afgahanistan. Count those in, and this year's deficit is well over half a trillion dollars - and, as a percentage of GDP, a point higher than the deficits the United States carried during the 89-93 recession which both parties agreed were untenable.


Actually, this isn't true. As a percent of GDP, the budget deficits were 4.8, 5.4, 5.5, and 4.6 percent in years 1990-93, respectively compared to the current deficit 0f 4.2 percent (and, in six of the past 20 years, the deficit has been higher--all times in which the economy was recovering from recession). Furthermore, it is a tenet of sound macroeconomic theory to run a deficit during a time of economic weakness (especially when conducting a war at the same time).

Lastly, who really cares what Congress deems as 'untenable' budget deficits. If Congress really felt the deficit was 'untenable' then they would do something about it since they do have *some* degree of power over the budget (it's called revealed preference).
ALL ORIGINAL POSTS IN THIS THREAD ARE NOW AVAILABLE
Thread ahead: Creation Science Fair
Next thread: On the Ground in Iraq
Previous thread: What the....?
(1964 newer) Next thread | Previous thread
The 7 - Current Events & Politics - What Would Newt Say?Register and log in to post!

The W™ message board - 7 year recycle

ZimBoard
©2001-2024 Brothers Zim
This old hunk of junk rendered your page in 0.2 seconds.