Thread: One year and -4,906 points later
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10-10-2008, 10:49 PM
At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
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GoldwaterGuest
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At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
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10-10-2008, 11:29 PM
The income tax system also reduces long term economic growth by double taxing savings and investments through capital gains taxes, corporate income, and other taxes on capital formation. Our government taxes earned income and also the proportion of that income that individuals and families save. The result of this double taxation has been the alarming reduction in the American savings rate...
http://www.cba.uni.edu/economics/Themes/sauerbrei.pdf-
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In actual dollars, President Obama’s $4.4 trillion in deficit spending in just three years is 37 percent higher than the previous record of $3.2 trillion (held by President George W. Bush) in deficit spending for an entire presidency. It’s no small feat to demolish an 8-year record in just 3 years.
Under Obama’s own projections, interest payments on the debt are on course to triple from 2010 (his first budgetary year) to 2018, climbing from $196 billion to $685 billion annually.
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10-10-2008, 11:36 PM
At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
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- May 2008
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10-10-2008, 11:37 PM
I know it's before your time but many people bought houses during the Carter era at 17%. Home owners in the current era used their homes like credit cards to buy cars, boats and other stupid shit. Interest rates have nothing to do with business's and consumer's borrowing up to the hilt. They thought the good times would never end. The government to this day encourages more spending to keep the economy rolling. That is insane. I don't know what part of stupid in this triangle of government spending, consumer spending and business spending that people do not understand.
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10-10-2008, 11:38 PM
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In actual dollars, President Obama’s $4.4 trillion in deficit spending in just three years is 37 percent higher than the previous record of $3.2 trillion (held by President George W. Bush) in deficit spending for an entire presidency. It’s no small feat to demolish an 8-year record in just 3 years.
Under Obama’s own projections, interest payments on the debt are on course to triple from 2010 (his first budgetary year) to 2018, climbing from $196 billion to $685 billion annually.
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GoldwaterGuest
10-11-2008, 12:53 AM
Well I always agreed with you here, Carter was the last guy who said the spending without saving has to end, and look what happened to him. As better as Reagan was as president, one of his lesser legacies is the encouragement of the spend now save later culture. Never thought I'd be praising Carter...
However I make the point that it had gotten particularly bad over the past couple of years under Greenspan and now Bernanke.
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