The Incessant Irrational Fear of Debt continues by Republican's even amidst Good News

This is beginning to get more unreal as the days go by. The Republican's weird infatuation with our national debt is going to completely destroy this country. Even after positive news on jobs, they still are in full attack mode on job cutting because of their fear of the national debt. You even get the comments about debt-free future for our children. This ideology that drives the Republican (mostly conservative) mind has to stop. It is not based on any real objective facts. It is simply some weird fear of debt based on their own personal lives. Our monetary system is simply set up to issue money via debt to control the system through borrowing rates. It is not that big of a deal to have debt denominated in the very currency you alone can create. So instead of taking a stance of wanting to stimulate the economy through spending (which creates growth), they want to continue attacking the budget in fear of debt.

Sounds familiar? Yes, this also happened in 1937 after the economy was finally out of the Great Depression. All the ideologues were scared about the future of their children, about constant budget deficits, and they attacked the budget head on. It worked, they reduced the deficit from $5.5 billion to $100 million. But, then the economy tanked and went back in to a depression. Funny how 76 years later, people aren't any less ideologically driven even though 74 of those 76 years we have had a budget deficit, even though Reagan almost tripled the national debt, Bush doubled the national debt, etc. Even after all this data can be easily found by just Googling it, we still have the ideologues that are trying to control our lives because they read some fictional book or a book written in the 1700s.

It is unreal when we are driven by the Michelle Bachmann, Sarah Palin, Rand Paul type philosophies rather than real educated individuals ideas... like Bachmann trying to question Bernanke and lecture him on how the debt is like her child's spending. That is the kind of stupidity that people elect. A recent poll suggested that 58% of the population would rather focusing on reducing the debt than spend to stimulate the economy. This stupidity is running rampant... it is not just isolated in this forum.

We are living in a conservative economy right now. Time for Republican's to own it and admit their failed ideologies will never work.

http://politicalticker.blogs.cnn.com/2013/03/08/gop-on-jobs-report-what-about-the-debt/?hpt=hp_t3

 

Didn't dems complain about the debt under Bush? Why the double standard? I know, the republicans ran up the debt by 5 trillion in 8 years and they are bastards for it. The dems are the same kind of bastards but double for running it 6 trillion in 4 years.

 

I don't care what Dem's complained about under Bush, lol. This has nothing to do with party politics. What's right is right regardless of what party is in office.

 

Put down the bong. An economically illiterate "progressive" ideologue has been president since 2008 and his counterproductive policies have helped produce the worst economic recovery in American history:

[video=youtube;axfTmFdPpP0]http://www.youtube.com/watch?v=axfTmFdPpP0[/video]

Even honest Leftists admit it.

Obama and the people who voted for his failed ideology and failed policies have no one but themselves for their failures. However, don't hold your breath waiting for the dishonest Leftists to take responsibility for their own actions - they don't do the individual responsibility thing...
.

 

You said absolutely nothing of substance here, sport. When you're ready grow up and climb out of your sandbox get back with us...
.

 

Say something of substance and I will correct your understanding with substance. Just posting a video of some media personality saying something isn't substantive. That's what I expect out of conservatives, they will believe anything anyone tells them as long as it's what they want to hear.

 

Lol, I guess that's suppose to make up for your hypocrisy.

 

Show me where I was being hypocritical. Only real uneducated people deal with this "he said she said" balogna. I don't really care what democrat's said to Bush. I care about the data and the real world. You are more concerned with golfing trips and what someone says. Embarrassing.

 

[video=youtube;1kuTG19Cu_Q]http://www.youtube.com/watch?v=1kuTG19Cu_Q[/video]

Hypocrites

 

No, you don't care about real world - you only care about Obama and his talking points. Were you care about real world, you'd have the honesty to admit this is a joke of a recovery - the real recovery should have taken no more then 3-4 years, and here we are, in year 6. The Community Agitator in the White House did everything possible to make sure the recession takes as long as possible - we should have been at 7.7% unemployment somewhere in the year 2010 or 2011. Do you have any idea what Obama's Affordable Care alone is doing to unemployment? Just in my medical device industry, the idiot-in-chief singlehandedly caused tens of thousands jobs of being lost.

Don't tell me Obama is doing anything right. Sometimes I wish he'd spend more time on the golf course - every time he's in the White House, he's hurting people. What a p**z

 

Hahahahaha, who cares what Obama said when he wasn't President. Call Obama a hypocrite, it really doesn't matter. What matters is the real policies that are in place.

I'm glad you guys are stuck in this he said she said arguments. Sound very educated... lol.

 

No, I do care about the real world. This thread is not about Obama. You guys are so infatuated with Obama you can't even talk about normal economics and policies. And making up names like "The Community Agitator", "the idiot-in-chief", etc... is just embarrassing. You guys need to grow up and start acting like men. Make a point, back it up with facts, all this name calling and whining is pathetic.

LOL!! Cool opinion dude.

 

What a pompous, self-loving, arrogant, ostentatious post... Do you want to know who's the joker in the room?

 

Fine. I submit to you, Obamacare causing medical devices industry tens of thousands of jobs, and I prepare to back it up with facts. But if I prove it to you, you'll have to admit Obama and Obamacare is a jobs killers. Deal?

 

You guys have said nothing that would make me think for a second you understand anything past "Obama said this" type arguments.

Edit/Insulting/Unnecessary

 

Hahaha, uneducated and embarrassing, thanks for complements. Obama plays the he said she said game everyday so I guess he's just as uneducated as me. I guess the President and I should ask for the small fortune we spent on our education back.

Your whole party is hypocritical just like the republicans. The democrats are hypocrites because of what they said about Bush policies than fall in lock step with Obama as he continues the same crappy policies. But go ahead and lie to yourself people do it everyday. Hell I even do it, I think by switching to the libertarian party I might be able to make a difference. Hahaha now that's a big lie to myself.

I don't about golf trips, I care about my tax dollars being wasted.

 

Yes, prove to me one of the largest growing sectors in the world is losing tens of thousands of jobs building medical devices for this industry... lol. Can't wait for this one.

 

A case in point and a perfect example of a thread, started by low information voter.

 

Ok Mr. Economist explain to us the difference between Mr. Keynes and Mr Friedman's economist principles.

 

This thread is about the national debt and policies that conservatives are forcing down our throats because of their irrational fear of debt.

If you want to talk about Keynes and Friedman's economic principles start a new thread. And by the way I'm not a Keynesian... although majority of what Keynes believed is the foundation for our knowledge of monetary systems and economics. Like not being afraid of deficits for one.

 

Why would conservatives create jobs and as debt-reduction ?

Paul Ryan said it best when he shut-down Simpson-Bowles ... *It will help Obama* .... of course he then blamed Obama and then called Simpson-Bowles *A Model* for jobs creations and fiscal-responsiblity as Romneys VP pick ...

 

That's really your biggest argument is that Dem's complained about Bush spending? Hahaha, amazing!

 

*shrug. On behalf of all the Conservatives of this forum, I'm accepting your apology and expecting you to call Obama for what he is - a job killer. I'm not gonna be smug about this, but you too have to be a man.

__________________________

Eighteen Senate Democrats recently sent a letter to Harry Reid urging him to work to suspend implementation of ObamaCare’s medical device tax, set to go into effect on January 1, 2013:

18 SENATE DEMOCRATS URGE DELAY OF OBAMACARE’S JOB-DESTROYING MEDICAL DEVICE TAXSen. Amy Klobuchar, et al., Letter to Harry Reid, 12/4/2012)

OBAMACARE’S “HEART ATTACK TAX” WOULD TAX “EVERYTHING FROM CARDIAC DEFIBRILLATORS TO ARTIFICIAL JOINTS TO MRI SCANNERS”: ” ‘Taxmageddon’ isn’t only about the half-trillion-dollar blow to the economy that arrives in 2013 on the end of the Bush-Obama tax rates. Several of the Affordable Care Act’s worst tax increases kick in too, such as the new excise tax on medical devices. The 2.3% levy applies to the sale of everything from cardiac defibrillators to artificial joints to MRI scanners.” (Editorial, “Improvised Explosive Device Tax,” The Wall Street Journal, 5/28/2012)

“COMPANIES AT MAKE-OR-BREAK MARGINS COULD BE TAXED OUT OF EXISTENCE,” ESPECIALLY START-UPS AND MID-SIZED FIRMS: ”The device tax is supposed to raise $28.5 billion from 2013 to 2022, and it is especially harmful because it applies to gross sales, not profits. Companies at make-or-break margins could be taxed out of existence, especially in an intensely competitive industry where four of five businesses are start-ups or midsized.” (Editorial, “Improvised Explosive Device Tax,” The Wall Street Journal, 5/28/2012)

THE TAX COULD HIT PACEMAKERS, STENTS, ELASTIC BANDAGES, ARTIFICIAL HIPS AND KNEES: (Susan Kelly, “Medical Device Tax May Spur Price Hikes, Cost Cuts,” Reuters, 4/18/2012)

TAX WILL MEAN “FEWER PAIN-REDUCING AND LIFE-EXTENDING INVENTIONS”: ”So the 2.3 percent tax, unless repealed, will mean not only fewer jobs but also fewer pain-reducing and life-extending inventions — stents, implantable defibrillators, etc. — which have reduced health-care costs.” (George Will, “Taxing Jobs Out of Existence,” The Washington Post, 5/9/2012)

The tax has already destroyed jobs at home and is expected to eliminate tens of thousands more, sending jobs overseas to countries like China:

HEALTHCARE LEADERSHIP COUNCIL: 43,000 MEDICAL DEVICE INDUSTRY WORKERS COULD BE LAID OFF BY TAX HIKE: “Under reasonable assumptions, the tax could result in job losses in excess of 43,000 and employment compensation losses in excess of $3.5 billion.” (“Employment Effects of the New Excise Tax on the Medical Device Industry,” Healthcare Leadership Council, September 2011)

MEDICAL INDUSTRY: “TAX WILL STIFLE INNOVATION AND SEND JOBS OVERSEAS”: (Susan Kelly, “Medical Device Tax May Spur Price Hikes, Cost Cuts,” Reuters, 4/18/2012)

SEVERAL MEDICAL DEVICE COMPANIES ARE ALREADY OUTSOURCING JOBS AND LAYING OFF WORKERS: “Cook Medical is no longer planning to open a U.S. factory a year. Boston Scientific, planning for a more than $100 million charge against earnings in 2013, recently built a $35 million research and development facility in Ireland and is building a $150 million factory in China. (Capital goes where it is welcome and stays where it is well-treated.) Stryker Corp., based in Michigan, blames the tax for 1,000 layoffs. Zimmer, based in Indiana, is laying off 450 and taking a $50 million charge against earnings. Medtronic expects an annual charge against earnings of $175 million.” (George Will, “Taxing Jobs Out of Existence,” The Washington Post, 5/9/2012)

SOME MEDICAL DEVICE MAKERS, INCLUDING SMALL BUSINESSES, “HAVE ALREADY ANNOUNCED LAYOFFS AHEAD OF THE TAX”: (Susan Kelly, “Medical Device Tax May Spur Price Hikes, Cost Cuts,” Reuters, 4/18/2012)

STUDY: OBAMACARE MEDICAL DEVICE TAX WILL SEND JOBS TO CHINA AND INDIA: “The United States is the world’s leading exporter of medical devices, and each new industry job adds more than four to the overall U.S. economy. An industry report claims that 43,000 U.S. jobs will be lost because of the tax, many of them to foreign countries such as India and China, where labor, taxes and raw materials are cheaper. That’s more than 10 percent of the nation’s 422,000 medical-device workers.” (Tony Pugh, “Medical Device Makers Push Congress to Repeal Excise Tax,” McClatchy News, 9/22/2011)

WELCH ALLYN: 10% OF WORKFORCE WILL BE CUT, JOBS WILL MOVE TO MEXICO: (Charley Hannagan, “Some Welch Allyn Accounting Jobs Will Move to Mexico,” The Syracuse Post-Standard, 9/11/2012)

http://www.nrcc.org/2012/12/13/democrats-medical-device-tax-misfire/

 

Oh, so the National Republican Congressional Committee says this... therefore it must be true??

hahaha, show me real facts with real employment data, not some fear mongering anti-Obamacare propaganda. I knew that's what you would bring to the table. And you said it has caused 10s of thousands of lost jobs and you can prove it. Where is the proof?

 

So debt and deficits have nothing to do with economic policy? I'm not saying debt is a bad thing, as a business owner I use debt to grow my business and I use debt to personal assets. I'm saying to much debt is bad and eventually people stop loaning you money. We have passed the buck as a country for to long. It's time to start paying our bills and not with funny money printed out of thin air based on the good faith of our government.