10th May 2010, 1:06 AM
Can you explain why Ron Paulites hate the Federal Reserve so much...
Other than that though, it's so great how the Republicans care so much about the deficit now, when they're the ones responsible for creating most of it. If deficit reduction was something they actually cared about, they'd have continued the budget surpluses Clinton was running by the last few years of his administration. Of course, Bush did the exact opposite and added more to our debt than anyone before, which is impressive when you consider how much Reagan had added to it...
Still though, while of course Libertarians and Ron Paulites (though he is of course very close to the Libertarians) weren't exactly on board with that, it's not like all debt is bad. That's not really true. Some debt is okay. The question is how much, and how dangerous the debt you have is... though of course determining those things is quite difficult.
Of course we need to reduce the US deficit, but the point the Democrats are making is that now is the wrong time, because if you cut budgets in a recession, you ruin the recovery. That's what happened in the 1930s, the depression hit its lowest point in the US in 1936 or 37 after deficit reduction plans cut recovery spending. Oops.
Democrats have credibility on budgets, they're much better at making them balance than Republicans (again, compare Clinton to Bush or Reagan...). It's just that right now we can't do that, not in this economic climate.
Other than that though, it's so great how the Republicans care so much about the deficit now, when they're the ones responsible for creating most of it. If deficit reduction was something they actually cared about, they'd have continued the budget surpluses Clinton was running by the last few years of his administration. Of course, Bush did the exact opposite and added more to our debt than anyone before, which is impressive when you consider how much Reagan had added to it...
Still though, while of course Libertarians and Ron Paulites (though he is of course very close to the Libertarians) weren't exactly on board with that, it's not like all debt is bad. That's not really true. Some debt is okay. The question is how much, and how dangerous the debt you have is... though of course determining those things is quite difficult.
Of course we need to reduce the US deficit, but the point the Democrats are making is that now is the wrong time, because if you cut budgets in a recession, you ruin the recovery. That's what happened in the 1930s, the depression hit its lowest point in the US in 1936 or 37 after deficit reduction plans cut recovery spending. Oops.
Democrats have credibility on budgets, they're much better at making them balance than Republicans (again, compare Clinton to Bush or Reagan...). It's just that right now we can't do that, not in this economic climate.
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