Impending Doom

To have any relevant remark over deficits one needs to refer to fiscal policy. Bleedin obvious really!

 

You can state all the policy you wish, but numbers are numbers. Isn't it pretty much an unstated policy for everyone that one shouldn't spend more than they take in? Well, the numbers, not policy, show a real problem.

 

I'll certainly stick with the obvious. Want to discuss deficits? Get yourself an economist! That you had to resort to an accountant seems mightily strange. Whilst most yank economists are liberal, there are some right wingers to feed the twaddle trough

 

I can certainly provide a comprehensive analysis as to the accounting and financial nature of deficits, but neither provides significant insight into their nature in the political economy.

 

what a joke, you sound like a 4th grader

 

You don't need an economist to work with raw numners. Nobody employs an economist to do their taxes.

 

Well, can you?

 

you obviously don't understand where the burden of proof falls

 

Worldwide impending doom. The downside to pushing this stupid policy of a one world economy/government onto Americans.

Let the world slide to marxist hell. Americans don't have to participate.

 

there's no one world economy

 

Loved the irony in this comment. Its Marxism that allows us to appreciate crisis theory and therefore provide a rationale behind any "impending doom" of a capitalist economy

 

The world economy, or global economy, generally refers to the economy, which is based on economies of all of the world's countries, national economies. Also global economy can be seen as the economy of global society and national economies – as economies of local societies, making the global one. It can be evaluated in various kind of ways. For instance, depending on the model used, the valuation that is arrived at can be represented in a certain currency, such as 2006 US dollars.
http://www.ask.com/wiki/World_economy

 

Diversion tactic. I posted a video that uses raw numbers to explain its point. It's up to others to dispute it with facts.

 

you posted a video of flimsy political rhetoric, done by a biased hack

anyone that compares greece's economy to the united states', doesn't know what he's talking about

here's an article by two qualified economists, explaining why comparing greece's economy to the united states' isn't a valid comparison



Why the United States Is Not Greece

BY JOHN MILLER AND KATHERINE SCIACCHITANO

For almost two years, we’ve been hearing a new battle cry in the war against government spending: unless the United States slashes deficits we will become Greece, Europe’s poster child for fiscal insolvency and economic crisis. The debt crisis in the eurozone, the 17 European countries that share the euro as their common currency, is held up as proof positive of the perils that await the United States if it continues its supposedly fiscally irresponsible ways.

Take the Heritage Foundation, the Washington-based think tank that specializes in providing red meat for anti-government pro-market arguments. Heritage introduces its 2011 chart on the rising level of government debt (to GDP) with this dire warning: “Countries like Greece and Portugal have suffered or are anticipating financial crises as a result of mounting debt. If the U.S. continues federal deficit spending on its current trajectory, it will face similar economic woes.”

Even for those who understand that cutting deficits right now will only weaken a still-fragile recovery, and that weakening the recovery will only increase deficits, getting past the argument that “a eurozone crisis is on its way” is no easy task.

What follows is a self-defense lesson on why the United States is not Greece—or Europe. The U.S. economy is far larger and more productive than Greece. The United States has many more tools in its macro-economic policy box than countries in the eurozone. And while calls for austerity have kept the United States from undertaking government spending and investment large enough to support a robust economic recovery, at least thus far, the United States hasn’t undertaken the same self-defeating austerity measures Europe has. If we learn the right lessons from what is happening in the eurozone now, we never will.

continued at
http://www.dollarsandsense.org/archives/2012/0112millersciacchitano.html

 

that is what Europe was working toward. And so are many in the US. So it is in the minds and plans of many people. Hell. Watch kid's tv. The intention is making kids citizens of the world. This morning i heard.....Afreeeca, my Afreeca sung by a bunch of little yellow, red and white cartoon kiddies. Better yet. Make a visit to one of your local grade schools and see the propaganda on the hallway walls. It's repulsive.
l

 

grow a brain, they're not going to get there

 

I don't care about the Greek comparison. The more important point is that expenditures far exceed revenue, and something drastic needs to be done.

 

you should stop falling prey to politically biased rhetoric and take some economics classes

 

I concur. Fiscal policy and economics is not solely about accounting. There is no need for both sides of a T-account to equal each other.

 

You should start looking at the numbers.

 

not only have i looked at the current numbers, i've looked at historical numbers

 

When you spend more than you take in, and create an obligatory expediture, it creates a void called debt. Borrowing is the one solution. But it entails the thing called interest which takes out of the economy. The other alternative is to quit spending more than you take in. That is a real balanced budget.
Numbers cannot lie,then
All of the threads for this post really are only dealing with debt, national gdp, imports and exports and not interest, which IMO is the great destroyer of budgets in the US

 

How is it "politically biased rhetoric" to claim that expenditures far exceed revenue ?

 

The word 'far' would be based on political biased rhetoric, rather than economic comment (which would require a more exact analysis and therefore a fiscal and monetary policy analysis into the macroeconomy)

 

notice how i didn't say that, i said, "anyone that compares greece's economy to the united states', doesn't know what he's talking about"

and then i posted an article from two qualified economists that explained exactly why that's true