Liberal free for all coming to an end

[smc]

Originally Posted by smc

A couple of days ago, I posted the following:

"So, Tracy Coxx, as you've been asked before: Let's assume the United States ceases all deficit spending. List here what you're willing to see disappear. National defense? Federal highway maintenance? Air traffic control? What? Or will you list the teensy little ideological budget cuts like the Republicans in Congress like to pretend really make a difference in the overall level of spending?"

We're still waiting for your answer.

Originally Posted by TracyCoxx

... So anyway, where does this leave us on this?
It's never good practice to routinely run a deficit unless it's a national emergency.

And the wait continues. Tracy Coxx logs back on, reposts this statement about national emergencies, but won't tell us what Tracy Coxx would actually cut of substance from the federal budget. It's political cowardice, no different from the ideologues who Tracy Coxx defends either implicitly or explicitly.

[randolph]

Tracy

It's never good practice to routinely run a deficit unless it's a national emergency.

During the great depression, the Republicans were very resistant to increase debt in order to stimulate the economy. Consequently many banks failed and millions of people lost their savings (no FDIC). FDR finally did get a modest stimulus going but it was inadequate to really get recovery. It took WWII to get the country back on its feet with a four trillion dollar war debt!
We managed that huge debt and the economy grew rapidly at the same time the maximum tax rate for the rich was seventy percent! During those years we were rebuilding the free world including Japan and Germany. Times were good and the middle class prospered.
Now days the cost of an aging population, exploding retirement costs, obscene military expenses and the loss of working class jobs is threatening the country with bankruptcy. The government keeps borrowing more and more money to cover expenses and stimulate the economy. Why? Because we have a highly distorted tax system. The rich are not paying their fair share, if they did we would not have these massive deficits.
Capitalism is based on economic growth. Growth depends on a populace that can afford to buy what the capital investment produces. If we screw the populace with a distorted tax system that favors the rich then capitalism will fail.

[smc]

FYI for all those who follow this thread: Tracy Coxx was on four hours ago (I write this at 10:38 pm EDT in the United States) and has yet to answer the pressing question. Perhaps Tracy Coxx has been delayed by some kind of "national emergency"?

[randolph]

Tracy

The money poured into the economy is not negated by rising prices. Like you said in the same quote, it causes rising prices.

So anyway, where does this leave us on this?
It's never good practice to routinely run a deficit unless it's a national emergency.

It appears that Tracy is posing the question to other followers of the thread. Is it necessary for her to answer her own question?

[smc]

Originally Posted by randolph

Tracy

It appears that Tracy is posing the question to other followers of the thread. Is it necessary for her to answer her own question?

I asked a different question of Tracy. But seriously, Randolph, I know you could figure that out. Don't you want to know what Tracy would cut instead of simply listening to the repetition of this ideological "national emergency" tripe?

[smc]

Originally Posted by smc

I asked a different question of Tracy. But seriously, Randolph, I know you could figure that out. Don't you want to know what Tracy would cut instead of simply listening to the repetition of this ideological "national emergency" tripe?

At issue here is intellectual honesty. It is simple to throw out a question such as that which Tracy Coxx has now posed multiple times, especiall when done so demagogically. But the question begs an answer to my question from the person who poses it; otherwise, it is nothing but dissembling rhetoric.

Those who now sit in the federal legislature and argue against spending without taking real positions on real spending cuts, and who pretend that there is some kind of magical mathematics that wizards like Harry Potter can somehow make work that allows all the problems of the budget to be solved without raising a single cent of new revenue, are intellectually dishonest. So, too, are their acolytes.

Tracy Coxx, answer the question: Let's assume the United States ceases all deficit spending. List here what you're willing to see disappear. National defense? Federal highway maintenance? Air traffic control? What? Or will you list the teensy little ideological budget cuts like the Republicans in Congress like to pretend really make a difference in the overall level of spending?

[TracyCoxx]

Originally Posted by randolph

Tracy During the great depression, the Republicans were very resistant to increase debt in order to stimulate the economy. Consequently many banks failed and millions of people lost their savings (no FDIC). FDR finally did get a modest stimulus going but it was inadequate to really get recovery. It took WWII to get the country back on its feet with a four trillion dollar war debt!

$4 trillion war debt? Where did you get that? Besides, during the Great Depression, various political sides will have different approaches to the problem. Democrats will want to spend ourselves out of debt. Republicans will want to cut spending and tighten our belt. A Great Depression is a national emergency though, and contrary to what TLB staff will have you believe I'm not talking about national emergencies. I'm talking about the word you bolded in my quote in your post: routinely. So again, in normal times, is it ever a good practice to routinely run a deficit? That is the pressing question.

btw, in the attached image, you'll see that the debt didn't reach $4 trillion until about 1990.

[randolph]

The WWII cost has been estimated to be about five trillion dollars, most of it borrowed dollars (bonds). The war debt exceeded the GDP, the current debt has yet to exceed the GDP.
Its important to keep in mind that we have a far larger economy now than we had in 1945. The skyrocketing debt after Clinton has been the result of irresponsible management of the country by our government. Free-market ideology and endless wars is destroying our country.

[GRH]

A working class man that votes for a Republican is like a chicken that votes for Colonel Sanders.

[ila]

Originally Posted by TracyCoxx

...A Great Depression is a national emergency though, and contrary to what TLB staff will have you believe I'm not talking about national emergencies...

This is the second time that you have posted TLB staff. Who are you referring to? The only staff of TLB is the site owner. If you are referring to one specific person then mention that person. Don't make blanket statements lumping several people into one group when you only intend to refer to one person.

[TracyCoxx]

Originally Posted by ila

This is the second time that you have posted TLB staff. Who are you referring to? The only staff of TLB is the site owner. If you are referring to one specific person then mention that person. Don't make blanket statements lumping several people into one group when you only intend to refer to one person.

By TLB staff I mean moderator. Not you though.

[ila]

Originally Posted by TracyCoxx

By TLB staff I mean moderator. Not you though.

Thankyou, Tracy.