To: Republican Extremist
If nobody here remembers, I think that Sean's shows are archived and can be reheard from his website...
2 posted on
02/06/2004 5:02:09 PM PST by
eureka!
(The ongoing destruction of the Rat party is giving me smile wrinkles.....)
To: Republican Extremist
I use this argument all the time...we always hear about things like "record deficits". I guarantee you, the government will ALWAYS run record deficits.
Think of it like your home. As your house appreciates in value, you may borrow on the equity. If the equity keeps going up, you will keep borrowing out the value of it. Now, none of us want to keep doing this with our home, or a business, but a government will NEVER be run that way. It's a service provider and wealth-redistributor. I don't care how many Ronald Reagans we elect, that will never change. Some will be better than others, but that is the way it is.
But the important calculations mortgage lenders do is what that mortgage is versus your home value AND your income stream.
As long as our GDP keeps rising nicely, and the "income stream" is secure,(and rates stay low) then the deficit, even at these high levels, is manageable.
I'm not saying that it's a GOOD thing, but it's no "disaster waiting to happen." Unless you are a Democrat and it's an election year...funny how they suddenly get religion about deficits when they are on the outs...
4 posted on
02/06/2004 6:26:34 PM PST by
Keith
(IT'S ABOUT THE JUDGES)
To: Republican Extremist
He was probably talking about the budget deficit as a percentage of GDP (1/2 trillion divided by 10 trillion). It's arguably lower if you say the deficit is the actual change in the debt from year to year (and not what congress had budgeted). Then you get numbers like:
![](http://peteann.hypermart.net/econ/debtprct.GIF)
But when you use 'real-time' 2004 numbers, it changes from day to day. So if the economy goes as sour as Kerry says it is, that 3% can go up to 5% easy.
To: Republican Extremist
To: Republican Extremist
% of GDP is a farce. Money is money. You spend more than you have, you pay foreign bond holders interest. We should live within our means.
13 posted on
02/07/2004 4:00:47 AM PST by
Glenn
(What were you thinking, Al?)
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