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  #31  
Old 06-30-2015, 04:55 AM
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Larry, you should try reading your own late night posts in the middle of the day when you're not intoxicated (I assume) or tired.
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  #32  
Old 06-30-2015, 12:27 PM
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Originally Posted by sloride View Post
He had a majority Dem house of rep's and Senate when they went wild. Please google where it is headed now, post 2014 elections. Let me know what you find.
And now government spending is not so important as it was then since the economy has recovered to the point it was before Bush crashed it.

A short lesson in national debt:

Greece owes money to people outside of Greece. The money in Greece goes outside the country where it is spent by others. This is a drain on the Greek economy.

The US owes money to people mostly in the US. (Despite what right wing radio preaches China does not own a great deal of US debt.) The money in the US goes to people and companies in the US where it is spent in the US and is a boost to the US economy.

Dick Cheney said that debt that you own to yourself does not matter. And he was right.

And... Greece stopped all the spending it could on social and government needs. This meant that businesses that had depended on that spending suddenly saw one of their biggest customers quit spending. So then the businesses had nothing to spend and the Greek economy started going downhill.

The US spent a lot of money and I don't know about your neck of the woods but almost $250,000,000 million of it was spent on road projects in Tulsa alone. That cash went into the local economy and Tulsa now has a great bridge over the Arkansas River that replaced one built fifty years ago. So if you are wondering where all that money the Democrats spent went to take a look at the roads and bridges that were built during the last six years. And if you are busy today then that's OK because they will be in use for at least another fifty years and during time a lot less money will need to be spent on the roads and bridges.

The US is a large exporter of goods. Money comes into the US from other countries and the US imports goods from other countries. It is a two way street of money.

Greece exports almost nothing and imports almost everything. A lot of cash going out; almost none coming in.... What could go wrong with that picture?

The situation is complex. Screaming that Obama is the cause of all of our problems is to only admit a person has no understanding of our problems.
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  #33  
Old 06-30-2015, 12:34 PM
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I like the part about Bush crashing the economy on mortgage failures pushed by the in charge at the time democrats ala Carter/Crinton and daddy Boosh. LOL

This Greek issue.....how much US monies are invested with the Euro's backing of all this continuing crisis?

Tidal wave coming to America?
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  #34  
Old 06-30-2015, 12:43 PM
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Yeah Dude, along those lines isn't it funny how the corrupt press conveniently forgets to associate Frank/Dodd with the mortgage debacle? It was all Bush. Talk about changing history.
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  #35  
Old 06-30-2015, 03:08 PM
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and now the "circle-jerk" that was the original aim of this thread is now complete.
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  #36  
Old 06-30-2015, 03:12 PM
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Originally Posted by MTI View Post
and now the "circle-jerk" that was the original aim of this thread is now complete.
Gimme a reach around pal.
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  #37  
Old 06-30-2015, 03:18 PM
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MTI still trolling.
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  #38  
Old 06-30-2015, 04:06 PM
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MTI still trolling.
Considering the source, I'm honored.
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  #39  
Old 06-30-2015, 09:56 PM
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Quote:
Originally Posted by Idle View Post

The US owes money to people mostly in the US....
Dick Cheney said that debt that you own to yourself does not matter. And he was right.
Foreign investments, including foreign governments own about a third of our debt. The rest is owed in country and the largest owner of all is the Social Security trust along with other government entities.
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  #40  
Old 07-01-2015, 12:08 AM
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Quote:
Originally Posted by Idle View Post
And now government spending is not so important as it was then since the economy has recovered to the point it was before Bush crashed it.

A short lesson in national debt:

Greece owes money to people outside of Greece. The money in Greece goes outside the country where it is spent by others. This is a drain on the Greek economy.

The US owes money to people mostly in the US. (Despite what right wing radio preaches China does not own a great deal of US debt.) The money in the US goes to people and companies in the US where it is spent in the US and is a boost to the US economy.

Dick Cheney said that debt that you own to yourself does not matter. And he was right.

And... Greece stopped all the spending it could on social and government needs. This meant that businesses that had depended on that spending suddenly saw one of their biggest customers quit spending. So then the businesses had nothing to spend and the Greek economy started going downhill.

The US spent a lot of money and I don't know about your neck of the woods but almost $250,000,000 million of it was spent on road projects in Tulsa alone. That cash went into the local economy and Tulsa now has a great bridge over the Arkansas River that replaced one built fifty years ago. So if you are wondering where all that money the Democrats spent went to take a look at the roads and bridges that were built during the last six years. And if you are busy today then that's OK because they will be in use for at least another fifty years and during time a lot less money will need to be spent on the roads and bridges.

The US is a large exporter of goods. Money comes into the US from other countries and the US imports goods from other countries. It is a two way street of money.

Greece exports almost nothing and imports almost everything. A lot of cash going out; almost none coming in.... What could go wrong with that picture?

The situation is complex. Screaming that Obama is the cause of all of our problems is to only admit a person has no understanding of our problems.
All of that giberish, and no credit to the Republican Congress for starting to bring down the deficit.
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  #41  
Old 07-01-2015, 10:45 AM
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The lesson I am learning from the Greek model is that gov benefits/entitlements can be cut by a legislative vote. Thus, social security, medicare, etc will be targeted if folks around the world come to believe US debt cannot be repaid. It's just a matter of perception.
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  #42  
Old 07-01-2015, 11:16 AM
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I think there are automatic benefit reductions when and if the fund sees certain levels.
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  #43  
Old 07-01-2015, 11:20 AM
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Whether or not that is true doesn't really matter. The elected officials can change the rules they originally wrote. Or the Supremes can reinterpret the words to mean whatever they believe is best for the country.
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  #44  
Old 07-01-2015, 01:28 PM
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Quote:
Originally Posted by sloride View Post
All of that giberish, and no credit to the Republican Congress for starting to bring down the deficit.
Yes, I've heard that in all their campaign speeches . . .
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  #45  
Old 07-01-2015, 01:30 PM
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The Supremes would do that? Naah.
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