Charlie Rose

Max83  12/25/2012 04:06 PM Report

That was clever of you Neil to alter my user name from Max83 to Marx83 :-)

I would like to give a digital Holiday present to you which is the following:

''The Billionaires' Tea Party (Full Length Documentary)''

Video Link: https://www.youtube.com/watch?v=oSAzYWmsiwI

'' Published on Aug 19, 2012

Full length version of the 2011 documentary film "The Billionaires' Tea Party".''

NeilMacCallister  12/13/2012 02:02 AM Report

"This may be hard for you to understand", Marx83,..

But I notice you cited NOT even ONE "great" quote from Barack Obama's "GREAT" speech today, ..or yesterday, ..or from ANY of Barack's many "SPEECHES" from the day before.

Btw??? ..have you herad that America's GDP growth has been FALLING for each of our long-suffering years that Barack Obama has been America's "Chief Executive Officer"???

Have you HEARD that Barack's GDP growth is DEAD and DYING at less then 2% growth (..and falling!!) for EACH of his 4 years in office???

***

Why did you vote for Barack, Max??????

Go ahead, ..give us all a "great speech"!!!

Max83  12/11/2012 04:45 PM Report

Thank you for your feedback tabs.

We respectfully disagree on some points and agree on some as well, that is a good start in my book :-) I also want to add that I do not agree with all of Mr. Oliver Stone's view points, but I admire in this interview that he admitted that he was more or less ''brainwashed'' through his upbringing for the first 35 years of his life and then changed his views and opinions based on the in-depth research he did.

I would not call his view of history revisionist, but it surely is alternative and disruptive to many. As Tom Brokaw said in this recent ''Where is America in 2012'' conversation here http://www.charlierose.com/view/interview/12644, disruption if used wisely and and intelligently can be used as a catalyst for positive change, which usually starts in the mind and heart first or in a Silicon Valley garage :-) before it reaches the physical world. The pen is indeed mightier than the sword. Brains top brawn, but brawn is needed to disseminate brains throughout the world, especially to and into the less brainy places :-).

I personally see Oliver Stone as a disruptor with a purpose and a man who has his heart in the right place, but as all of us, of course he is not perfect.

Thank you very much again for all your feedback and inputs. This little discussion has developed into a good body of information and diverse opinion in a very short span of time :-).

Again I wish you all the best and a good Holiday Season 2012/2013 in case we do not catch each other again before the New Year.

Max

tabs  12/11/2012 05:48 AM Report

Points Of Clarification:

In 1940 there were 2 real Democracies in the world, the US and Great Britain. Every President since FDR can more or less claim that the world is more democratic and freer under their watch.

The President of the US is elected to represent the interests of the PEOPLE of the USA first and foremost, and not the interests of people in other nations as they have their own leadership that represents their interests for better or worse. Also The President of the US to fulfill his responsibiltiy to his constituency sometimes has to make tough decisions that are not popular with the rest of the world.

The facts of life and history is that the dominant power in the world provides "Global Security" for to cede that role is to no longer be the dominant power. As the UK's Shadow Minister of Defense before Parliment said during the week of 911, "That the US has provided Global Security for the world since 1945 and if the US should fail to respond to the 911 attack, Global Security will fail." Which is another way of saying the Global ECONOMY would fail. In other words for the American Empire which is aka the Global Economy (which is merely the ideas of democracy, capitalism and free trade as represented by Mickey D's, Levis and Mickey Mouse) to prevail and thrive the US military has to keep peace and tranquility in the world. If the USA should falter in that role one of the consequences would be fragmenation and rising levels of chaos. Also if US fiscal and monetary policy should become suspect due to say US political dysfunction the consequences would be the same as above.

One has watched an interview of Mr Stone and his academic collabrator about his project. One does not remember much of what was said. However ones lasting impression is that Mr Stone is presenting a revisionist history that fits into a social democratic mold. Thus one was not impressed with Mr Stones interpetation of history.

SharkswithfrikingLazers  12/11/2012 03:13 AM Report

Obama says,

“The rates on the top two percent go up and we are not going to get a deal without it.”

“The most important thing we can do for national security is to get our economy on track.”

Grover says no way Jose.

What about Government Sachs? What does this branch of our government think is best?

SharkswithfrikingLazers  12/11/2012 03:08 AM Report

August 2, 2011: The President signed the Budget Control Act of 2011. This act provided that, if the Joint Select Committee did not produce bipartisan legislation, across-the-board spending cuts would take effect on January 2, 2013.

See we already have an agreement.

The knuckle heads just want a do-over.

SharkswithfrikingLazers  12/11/2012 03:06 AM Report

Jay Carney called a proposal "magic beans and fairy dust".

John Boehner called a proposal a "La-La Land offer.

Magic beans and fairy dust in La-La Land . . . see we are almost there.

SharkswithfrikingLazers  12/11/2012 03:02 AM Report

Goldman, go skiing honey.

That's where the CEOs will be and America wants either more of their salaries in taxes--or much more likely--to stimulate their job creation abilities.

Follow the real story.

Max83  12/10/2012 11:01 PM Report

I know this will be a tough one for you to watch Neil :-), but President Obama delivered a great 25-minute speech today:

''President Obama Speaks on the Economy and Middle-Class Tax Cuts''

Video Link: https://www.youtube.com/watch?v=TSxyjVu7qlA

'' Published on Dec 10, 2012

President Obama delivers remarks at the Daimler Detroit Diesel Plant. December 10, 2012.''

Max83  12/10/2012 10:10 PM Report

I respectfully disagree with your post below tabs.

For Americans it is a much safer world since President Obama has taken office and that is all that counts as far as I am concerned in regards to the responsibilities of the office of the President of the United States of America.

And yes I can confirm that the USA is much more respected in the rest of the world again, after its status and reputation had fallen to all time lows during the disastrous Bush 43 presidency. The relief around the world was tremendous when President Obama was recently re-elected, because the majority of people around the world were honestly terrified of the destructive potential of another Republican President. My friends and family in Europe do not agree with everything President Obama says or does, but they told me personally that Mr. Romney and his backers were absolutely not an alternative.

What did Joe Biden say: ''GM is alive and Bin Laden is dead.''

I even add to the list of Obama's accomplishments. Since Obama has been president the world has become more democratic and freer. Freedom and democracy are not a guarantee for stability and prosperity, but the fact is that there are more democratically elected governments in the world than ever before in history.

America is not responsible for Israeli or Middle Eastern policy, security or even peace. Obama is not the one that is building illegal settlements in occupied territories that further inflame the rage of the occupied and diminish and undermine Israel's standing in the international community.

America is not and should not be the babysitter of the rest of the world and president Obama understands that. America is ideally a positive role model to the rest world and a police man of very very last resort, but as long as America does not have its own backyard in order it cannot fulfill even this most important role of a positive and admired role model. So the focus needs to be 75% on domestic issues at the moment and less on foreign affairs. Focusing on the casualties of Benghazi so obsessively is the biggest political propaganda distraction campaign I have seen in many many years and it will not achieve its goal, because it is totally blown out of proportion.

This should be interesting for this discussion too. A very good and insightful interview with Oliver Stone that deals with many points made by you tabs:

Video Link: https://www.youtube.com/watch?v=zV967ykeVhU

''Published on Dec 10, 2012

This is the full, uncut version of film director, screenwriter, and producer Oliver Stone talking to Cenk Uygur of The Young Turks. Stone discusses his legendary career, his views on politics, and his time as a soldier in the Vietnam War. Now, Stone presents his new book and special series, The Untold History of The United States, which highlights unsung American heroes whose views caused them to be lost to history as well as respectfully debunk more well-known historic figures.

Oliver Stone's Untold History of the United States airs on Showtime, Monday nights at 8PM starting December 10.''

tabs  12/10/2012 02:04 PM Report

It Is A Much Safer World

Last week a Democrat strategist was on one of the news shows saying, "That with Obama as President we live in a much safer world, and that the US is more respected now."

To which one would reply.

1. Four dead Americans including an Ambasador in Benghazi

2. A day after Secretary of State Hillary Clinton "gushed" about Egyptian President Morsi helping to calm the waters in Gaza, he expanded his Presidential powers in a power grab, to which the Egyptian people once again took to the streets. Today Morsi has given the power of arrest protesters to the military.

3. Rockets from Gaza into Israel

4. Civil war in Syria with 40,000 dead and the potential use of Chemical weapons on the way. Here it sems that President Obama drew a "RED LINE" in the sand and now that President Assad has stepped over it , Obama once again drew another "Red Line" a little further back

5. Sectarian violence is once again rearing its head in Iraq

6. Iran continues on with its Nuclear weapons program. to which the toughest sanctions yet have been applied. To which Iranian President Ahmadineajab lauging said, "That sanctions won't hurt nor deter Iran because the country can largely sustain itself without importation of goods and services."

7. In Afghanistan the regime is well on its way to collapsing in favor of a resurgent Taliban the moment the Americans leave the country.

8. Pakistan continues to toter on the brink of becoming a failed state with the fundlemetalist Islamists taking power and controling a nuclear aresnal.

9. As ex Defense Chief Gates said, "China is building up its military with a possible objective of challenging US military power in the region."

10. North Korea continues on with it recalcitrant nuclear weapons and rocket program.

The rational person would not conclude that "we live in a much safer world now,with Obama as president" rather that the world is becoming more fragmented and chaotic under the Obama administration largely due to his inability to make the wise but tough decisons. It seems that President Obama would rather punt the ball than carry the ball. Or as Senator Lindsey Graham said, "Obama plays "small ball," because he is afraid of his own party" and or what Americas adversaries might think or do.

NeilMacCallister  12/10/2012 10:30 AM Report

You spoke the heart and soul of honest economics, Max, when you allowed that some people amass wealth "by selling products and services to us".

I want that seller to KEEP the money WE gave them! ..By what right do we demand that they give us BACK what we voluntarily gave to them for their product???

If you don't want to give them that money, ..then DON'T!!

***

What is DISHONEST economics, is when a schoolteacher making $50,000 a year -- in a town where the median income is $30,000 -- takes our own children out on the street to hold signs saying "Please don't starve my teacher!"

Or when our CA Governor shovels upon our grandchildren a $100 Billion dollars of debt -- in a state with 15% unemployment -- so that he can buy a "high-speed train" from China and call it "The Jerry Brown Express"!

Those are extortions! ..Those are THEFTS!!!!

***

We are NOT here to 'Pursue the Happiness' of Jerry Brown, Chuck Schumer, Joe Biden, or Barack Obama.

And we already went OVER the "fiscal cliff" -- on November 6, 2012.

***

Excuse me now, ..I now have to go back out with my paint brush and ladder, and beg $10 an hour.

Have a nice day.

Max83  12/10/2012 06:55 AM Report

It is Mercury not Pluto Neil hahahahaha, but I am glad that you had a look at the John Kay video :-)It is been a while since we last had the pleasure :-) I am happy to see that you are healthy and still kicking and screaming here on the forum hahahaha even when I don't really understand why exactly. It keeps things interesting and diverse here.

Joe, I tried to help Neil out of his self-inflicted mind control too a couple of months ago, see here if you are interested: http://www.charlierose.com/view/interview/12474

But common sense and facts do not seem to be a cure for that condition. So no worries it is not your fault that he does write with all these full caps and exclamation points, that is just his personal style and he does that with everybody who does not agree with him here.

I am very grateful that there are different opinions and view points in the comment sections, which includes Neil's opinion, because I feel it helps to underline very clearly the challenges America is facing.

Neil is one of the curious kind that is part of the 99% but thinks that people like the Koch Brothers are his friends who care about him and America and that he needs to defend them because they are the ''job creators'', who are on the endangered species list, because big bad Obama wants to have them give back some of their 50 billion Dollar fortunes to society, that they amassed by selling products and services to us ''socialist leeches'' :-). I personally would rather classify them as monopolists and not as job creators and to be honest they are the only species on the planet that I would not mind to be extinct :-)

Neil if you were a multi-billionaire I would maybe have compassion for your stance and understand your mission, but I really do not understand why you are doing what you are doing when there is absolutely nothing in it for you personally, except that you like a good debate/fight. It might seem very noble and brave what you are doing, but not too bright , but I am probably just the misguided soul here and I just need to pray to the God of unregulated Capitalism a little more and I will finally be healed and enlightened and stop questioning the motives the Koch Brothers and the Other Special Interest Saints :-)

Thanks for all your inputs and I still hope that we don't have to go over the fiscal cliff, so that Julianna Goldman can go on a skiing trip and ride some of those Double Black Diamond runs this winter instead of having to stay in Lobbytown D.C. and report on the frustrating stalemate between Democrats and Republicans.

All the best,

Max

NeilMacCallister  12/10/2012 03:12 AM Report

It is beyond repair, Joe.

By what I see here, ..it is you, and "blank", and "Max83", all begging for free 'leche' from the breast of Barack Obama -- as "blank" drivels out something about 'mothers' and 'sociopaths', and while YOU claim "marginal tax rates are NOT about a share of your income"..

Have you NOT yet made it to the seventh grade, Joe?

Have you NEVER had a decision in life dependent upon your recognizing and speaking TRUTH???

Fine! ..I really don't WANT America to rot, ..but like a tree, if it IS rotting, perhaps we need to just let it fall!

And you know? ..I just can't help but believe, that Barack Obama is standing there with an ax and a grin on his face!!

blank  12/10/2012 02:09 AM Report

my mom called me up and told me this story:

this woman's sister died and she went to her funeral and she met this guy there that she had never met before that she really liked and fell in love with but he left before she got his name and phone number and later the woman killed her brother why did she kill her brother?

so i thought that was obvious so i just answered it literally the second she asked me and my mom said this writer article and doctor who killed his wife she read but the point is if you ask people this question and they answer it right away supposedly it's a sign that they are a sociopath which i don't think is true at all but i thought was funny

i thought it was a true story so i was just guessing the answer based on the information i don't see what other answer you could come up with

my mom said i knew you were a sociopath so i just wanted to ask you the question she'd been calling me about it for a couple days

i am NOT a sociopath

blank  12/10/2012 02:03 AM Report

http://www.technologyreview.com/view/508246/why-the-universe-is-not-a-computer-after-all/

http://www.thecreativeengel.com/2012/12/04/quant-invest-live-day-1/

JoeFriday  12/10/2012 01:52 AM Report

Neil,

Eh, I'm afraid you're conflating tax BRACKETS with a percentage of ones income. Why is it so many people are unable to comprehend marginal tax brackets ?

And what's with all the exclamation points ?

NeilMacCallister  12/10/2012 01:39 AM Report

Hah!! ..while "Max83" is out exploring PLUTO for bolsters to his claim that "America owes me free money", "JoeFriday" here disguises himself in a false mantle of 'the working class' to advocate that Barack Obama is owed 91% of all our American paychecks!!!

Really, Joe??? ..You make THAT much??????????????????

****

America no longer CARES about reality!!!

"Steal all you can!!!" .."No one will see you, or stop you!!!"

" 'Farewell hope' (John Milton), America!"

***

You know, Barack Obama keeps repeating "I am NOT a Socialist!!"

And I have to wonder: If being a socialist is so "great" and "beneficent", ..why does NO ONE announce in public that they ARE a socialist??????

Is socialism a disgusting masturbatory disease, or something???

What have all you THIEVES got to hide anyway?????

Max83  12/09/2012 10:17 PM Report

This is so true. A straight line might be the most direct and shortest way between two points but very often it is not the fastest and most successful way to travel between them. John Kay calls this principle Obliquity.

''John Kay: Obliquity and the Indirect Way to Success''

Video Link: https://www.youtube.com/watch?v=zt7i9qQkLq8

'' Uploaded on May 23, 2011

How "Obliquity" -- Pursuing Goals in a Roundabout Way -- is Better for Business and for an Innovative Economy

Good economics is often seen as maximizing efforts in specific directions. John Kay, Visiting Professor at the London School of Economics and Financial Times columnist, makes the paradoxical case in this INET interview that the meandering route often proves to be best -- particularly when applied to innovation. He argues that the most profitable companies are not ones that focus primarily on profit maximization and the happiest people are not those focused on pursuing happiness.''

JoeFriday  12/09/2012 12:36 PM Report

Earth to Neil:

* In regards to your initial post about tax rates, you need to be reminded that our most economically prosperous periods in our nation's history were when the top federal income tax rates were 87% and even 91%.

* As to your claim of "Obama overspending", non-defense discretionary spending is at the lowest level since Eisenhower was in office.

As I previously delineated, the problem is lack of revenue as a result of the previous numerous failed tax cuts.

* I find your concern for hyperinflation fascinating given the economy remains in a deflationary spiral.

NeilMacCallister  12/09/2012 03:39 AM Report

Gee Max, ..tell us SPECIFICALLY how America BENEFITS from Barack Obama overspending America's national budget by 6 TRILLION DOLLARS in his first 4 years???

..and then continue your discussion -- after of course, you take your OWN Federal Income check down to the bank to invest it into some more GOLD -- before Barack Obama's inflation arrives and destroys every single American's wealth.

Max83  12/09/2012 02:00 AM Report

Another brilliant human being well-worth listening to:

''Giovanni Dosi: Combining Schumpeter and Keynes to Boost Innovation''

Video Link: https://www.youtube.com/watch?v=5tfYL_mqrNI

''Many people would not think of putting Joseph Schumpeter and John Maynard Keynes in the same economic framework, but Giovanni Dosi believes the insights of both are needed to fully understand how to boost innovation in an economy. Dosi, director of the Laboratory of Economics and Management (ELM) in Italy, makes the case in this INET Interview that Schumpeterian innovation must be combined with Keynesian demand management to sustain economic growth over time.''

Max83  12/09/2012 01:33 AM Report

Very good interview with Lord Skidelsky, a truly enlightened human being in my opinion:

''INET's Interview with Robert Skidelsky''

Video Link: https://www.youtube.com/watch?v=gtomtvnkvrQ

''In this extensive interview, one of the world's foremost scholars of John Maynard Keynes explains the many ways Keynes's insights are more relevant than ever.''

Max83  12/08/2012 10:00 PM Report

It is very important to be aware of the difference between sustainability vs. efficiency.

Sustainability in my opinion is long term holistic planning and it is promoted by Keynesianism.

Efficiency in my opinion is short term technological planning and it is promoted by the Chicago School of Economics.

The USA needs to follow a sustainable path and not an efficient path i.e. it seems good to improve fossil fuel efficiency of vehicles, but the truly sustainable approach would be to look for alternative sustainable energy sources that are not fossil fuel based, because fossil fuel is finite and contributes to climate change.

Efficiency pretends to offer solutions, but in reality it is just delaying the inevitable and prolonging a bad habit.

Efficiency is an illusion to think that one is always in and always has control and it is based on arrogance, whereas sustainability is to have certainty and confidence while maintaing humility and awareness that change is inevitable and evolution is natural.

Max83  12/08/2012 09:09 PM Report

I really like that Alan Greenspan admits in the Bloomberg video I linked to below to the flaws and limitations of the economic models that he and many other economists have been using for most of their careers.

I think that most traditional economists are actually more mathematicians than they are economists and I feel that is really the problem. I myself consider Mr. Greenspan really more an accountant and mathematician than a true economist.

Accountants are good for the micro-economic private sector environment, but are potentially fatal as we have seen in 2008 for the macro economic public sector environment, because their ''existentialist as above so below'' approach does not apply to macro economics and the imperfect but beautiful physical world we live in.

As long as we define economics as a science instead of as an art form I think we will continue to run into problems and will put people in charge of long term macro economic planning that really do not have the awareness and perspective to fill these positions, because they might be outstanding accounts, but poor economists/psychologists.

Austrian-ism is good for personal and individual financial planning, but Keynes-ism is superior for macro economic strategy.

I for example consider myself a Keynesian, but I personally take privately the Austrian route and have invested in physical gold as a hedge against inflation that is a result of Keynesian stimulus that I support on a macro-economic scale at this time.

You cannot be an Austrian and be for a gold standard and then invest in gold, that is schizophrenic :-) or be a Keynesian and invest in cash only and demonize gold. You can do that of course, but you will be a broke man or woman fairly quickly :-)

The person who fares the best of course in either environment is a value investor like Warren Buffett, but my comment is not really about investing, but more about economics and policy.

So to all Keynesian I say: ''Buy some physical gold'' and to all Austrians I say: ''Please stay out of politics.'' :-) hahahahaha

The really dangerous guys are the Chicago School hahahaha To them I say: ''Stop existing!'' :-)

NeilMacCallister  12/07/2012 03:27 AM Report

Does anybody like "reality exercise"???

Let's say that Reid and Boehner went to their President and reported "Sir, we have the votes to institute a 100% tax rate!!" .."The Congress would like to grant YOU 100% of America's GDP, to spend as you see fit!!"

Who would say "Yes!!!" to that RAPE of the heart of mankind???

I believe Mitt Romney would have said "You are idiots!"

I believe Barack Obama would say "Thank you, ..You have FINALLY seen it my way!"

***

George Washington said "No" when asked to accept a crown of "King".

Not ONE person in Congress, ..OR in our media, ..or Charlie Rose, ..or David Brooks or Doris K. Goodwin has the guts to say such a "No".

America was murdered on Nov. 6th, 2012.

We killed ourselves, ..It was a mass suicide.

Max83  12/06/2012 06:09 PM Report

This is a very interesting interview/article with Alan Greenspan on Bloomberg from today. This might be interesting for you JoeFriday and Ellen_Dibble in regards to Social Benefits and where the issues are with it and where Julianna Goldman might be coming from on this issue. I absolutely agree that we most definitely need a national discussion on this issue to get on the bottom of it and to understand all the factors involved in it and most importantly to become aware of the opportunities this challenge presents. Crises always offer great opportunities for positive and innovative reforms in my opinion.

Here the article link and a short quote from the article:

http://www.bloomberg.com/news/2012-12-06/greenspan-says-painless-solution-to-u-s-debt-is-fantasy.html

''‘Social Benefits’

While Bernanke has refrained from identifying the mix of fiscal changes that are needed to stabilize fiscal policy, Greenspan said the “key part” of the deficit is “government social benefits to persons.”

Greenspan said the economy is poised for 2 percent growth, without specifying a time frame.

“Two percent is going to be our normal” for now, Greenspan said. “What is going to be the key factors in the long-term productivity outlook is innovation.”

“I think there are types of things out there we can have no insight into,” he said.''

Max83  12/06/2012 05:22 PM Report

Very good and insightful information from Julianna Goldman on the D.C. Dynamics and great questions from Charlie Rose towards the end of the interview. Let us hope Ms. Goldman can go on her well-deserved skiing holiday this winter :-)

Very good and true points from JoeFriday and Ellen_Dibble below.

Ellen_Dibble  12/06/2012 02:15 PM Report

It may be that entitlements is what the negotiations "ultimately does come down to," but at the same time "the NUMBER ONE driver...of both ...federal deficits and debt" is "massive decline in federal income tax revenue" -- or revise that to, "tax revenue." In other words, the negotiations are more about putting entitlements on the table than, say defense spending or education spending. (Did she say that?) The way I see it, entitlements is out there for national discussion because the last few years have revealed that conformity and diligence, the old-fashioned workers values that are instilled from kindergarten, no longer carry a lot of us through. We have to be a lot more nimble than a quarter century ago -- pensions are less absolute; jobs are less often life-long; health care is a big headache. And it's hard for masses of people to even begin to be that nimble without a well-functioning safety net. The safety net of individually created "wealth," which apparently is what the House is trying to advocate for, is a lot harder for the average earner, with the stock market and housing values alternately spiking and tanking. So the extent to which entitlements, from grade school education to elder support, can enable rather than squelch seems to me to be very much on the table in these negotiations. It's also quite possible that we can't see far enough beyond the fiscal cliff to know what exactly would be most productive. So what is a president to say? He seemed tired, but grounded, no-drama Obama, and why am I not surprised.

JoeFriday  12/06/2012 01:50 PM Report

Wow. In her prior appearances, Julianna Goldman has always struck me as smart and well-informed, but her statement that:

"I think one of the things that this ultimately does come down to, this set of negotiations, is entitlements. Ultimately that is where, that is what's driving the deficit and debt problem that the country has find itself in."

is completely and seriously WRONG.

According to the independent non-partisan Congressional Budget Office, THE NUMBER ONE driver, far and away over everything else, of both our current and mid-term future projected federal deficits and debt, is the massive decline in federal income tax revenue as a direct result of the numerous rounds of tax cuts enacted by the previous Republican administration and Republican Congressional Majority.

Sure, decades from now, healthcare will be a driver of federal deficits and debt, but the cost of Medicare is climbing far slower than private-sector healthcare, so the only problem Medicare has is it's purchasing medical care from a bloated greedy inefficient for-profit healthcare industry. THAT is what needs reining in, NOT Medicare. We could save far more money if everyone went on Medicare.

And Social Security is self-financed and has no relationship with federal general revenues and therefore no impact on federal deficits and debt.

I'm rather shocked that Julianna is so susceptible to propaganda.

JF

REMant  12/06/2012 11:36 AM Report

Total govt spending is twice as much as in the Depression, when the Fed'l budget peaked at 10.7% of GDP in 1934, after the war returning to about 11%. Now, at about 25%, Fed'l spending is more than twice and has remained fairly constant from 1960, peaking slightly at the end of the Carter admin. But at 15.4 % of GDP, Fed'l taxation is only slightly lower than the 17.8% avg for the 60-odd years since 1950. In the absence of other factors then, the problem has arguably been spending, not taxation, (as, indeed, it has through much of our history, the budget rarely being in balance), since one would expect lawmakers to reduce expenditures to match receipts if no one will vote more taxes. Yet there's nothing in the Constitution mandating a balanced budget, and the country has had the funds, at least until recently, the Fed to print some when it did not, and an economy that itself increasingly runs on credit.

But, as I've argued repeatedly, this policy has widened the disparity between rich and poor, eviscerated the middle-class and destroyed their livelihood, spurring a lot of the spending increase, hence redistribution to make up for it has merit, tho it should reach much further down than the $250K bracket, even if the object is to save what is left of it.

No one, however, believes the president will be inclined to reduce spending if higher taxes are voted, and, indeed, he's asked for more, apparently considering it affirmative action, supply- and demand-side stimulus, all rolled up in one.

While I can see the point being made in the GOP that agreeing to a tax hike in exchange for entitlement reform is good strategy in the short run, it's bound to embolden those already lining up with grant applications, and this kind of thinking inevitably increases moral hazard, as well as reduces private sector consumption and savings, and govt at all levels already takes up 40% of our economy.

And the economy both here and abroad has been showing increasing signs of slowing since the summer. The UK, for instance, just announcing another round of cuts and adding a year to its forecasts of recovery, while Spain's unemployment keeps increasing, and Hollande has gotten serious enough about budget-balancing to send the bourgeoise fleeing to Belgium, and perhaps a lot of beer drinkers, too, raising the tax on it 150%.

Still, ppl like Charlie seem intent on making war on foreign dictators, while ignoring our own, and the Fed works diligently to re-feather the nests of the rich and unemploy even more of us, while taxing us for it without our consent. All of which leads me to believe it will be "austerity," like it or not.