tag:blogger.com,1999:blog-8355052.post1858916195584761942..comments2024-03-28T09:52:15.415-04:00Comments on Common Denominator: Budget Thoughts...Ken Schenckhttp://www.blogger.com/profile/09745548537303356655noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-8355052.post-86176909655201985752011-04-20T17:36:08.525-04:002011-04-20T17:36:08.525-04:00Just to be clear, I called Hannity & Palin loo...Just to be clear, I called Hannity & Palin loons... I would hate for anyone to blame our sound QT analyst for this. With respect to them both, I think the only reasonable conclusion is that they are not interested in truth - but rather, power of some sort or another. As, of course, are people from all ideological camps. Of course they get some things right - you can't be talking that much and not say something truthful :)::athada::https://www.blogger.com/profile/09046982982270546995noreply@blogger.comtag:blogger.com,1999:blog-8355052.post-21933324223344522512011-04-20T17:21:16.725-04:002011-04-20T17:21:16.725-04:00That we have a lot of debt is obvious. For a littl...That we have a lot of debt is obvious. For a little historical perspective, note that our payments on federal debt as a % of GDP hasn't really been this low (this decade) since before I was born!<br /><br />Also good to keep in the forefront that economic forces (of themselves, not the irrational people behind them), like chemistry and physics, worry only about the facts, not ideology. We can pass a resolution in congress that X economic system sucks or that global warming simply doesn't exist... and all you'll have is a resolution.<br /><br />http://www.fool.com/investing/general/2011/04/14/will-the-us-default-on-its-debt.aspx::athada::https://www.blogger.com/profile/09046982982270546995noreply@blogger.comtag:blogger.com,1999:blog-8355052.post-8661898605783410812011-04-20T15:21:36.269-04:002011-04-20T15:21:36.269-04:00NGF and Craig,
Neither of you have heard me for w...NGF and Craig,<br /><br />Neither of you have heard me for what I am saying. We <i>must</i> plan out a budget that immediately begins to take in more than it gives out. I completely agree with you both. And I agree that it should be a more substantial debt reduction that Obama is proposing.<br /><br />The debt ceiling is a completely different issue. The debate is how much reduction how quickly.Ken Schenckhttps://www.blogger.com/profile/09745548537303356655noreply@blogger.comtag:blogger.com,1999:blog-8355052.post-49432481121041392852011-04-20T15:01:42.466-04:002011-04-20T15:01:42.466-04:00Ken there are consequences to poor economic policy...Ken there are consequences to poor economic policy and when you overspend and do take not serious measures to stop doing it then sooner of later it comes time to pay up. What in the world makes you think that continuing to run up the national budget and printing more money will save us? Is that the way you run your own finances? Do the Schencks think they can spend their way to propserity or will they become bankrupt if they do? When you borrow almost 50 cents for every dollar you spend, you are pumping up the debt bubble and sooner or later it is going to burst. Maybe we can inflate our way out of this mess, but then our dollars will buy less. I do not think you understand the serious consequences of these economic policies. Being the scholar you are, tell me where running up large debts for mostly public entitlements and printing money to pay for it while at the same time being a consummer economy that manufactures less made a country properous. You need to quit reading Keynes and Paul Krugman. It will not work, you will see unfortunately. Better take some of that fiat cash from your tax return and buy some gold or silver!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8355052.post-9263258269486341752011-04-20T13:45:16.205-04:002011-04-20T13:45:16.205-04:00When obama was senator he didn't want to raise...When obama was senator he didn't want to raise the debt ceiling the last time this came up. Now he does. it fun to see him change his mind, what little of one he has,Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8355052.post-83445590702348000372011-04-20T12:25:09.059-04:002011-04-20T12:25:09.059-04:00Craig, you are presenting the fallacy of false alt...Craig, you are presenting the fallacy of false alternative. But just to be clear, I did not call Ryan's plan lunacy. I said that anyone who votes against raising the debt ceiling is loony. Even if we Ryan's plan was passed--or something much, much more radical--we would still need to raise the debt ceiling to keep from defaulting on our current loans. We would absolutely lose our AAA credit rating with S&P in that case.Ken Schenckhttps://www.blogger.com/profile/09745548537303356655noreply@blogger.comtag:blogger.com,1999:blog-8355052.post-85889958895405765472011-04-20T12:20:55.609-04:002011-04-20T12:20:55.609-04:00Once again Ken your knowledge of economics seems n...Once again Ken your knowledge of economics seems naive. When will you realize and understand that this nation is broke and printing money to pay for overpromised entitlements and government services is unsastainable? Does the Schenck family household practice Keynesian economics and rack up huge credit card bills and buy stuff for your kids even though you cant afford them? Calling someone loony because they want to restore some financial sanity is foolish. How much lower does the dollar have to go or higher does gold and silver have to rise before you understand that we are in serious trouble in the US and inflation is going to cause worse pain? Yes, raise taxes on the rich to solve the problem, typical answer. How about take all their money and see if that will solve the problem. It will not. This problem will not be solved until those in Washington stop the wreckless spending. The politicians have overpromised entitlements to people and now the Nanny State is broke. Printing more money to pay for the govt goodies will only make the probable economic collapse worse.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8355052.post-36114771076698440752011-04-20T10:13:47.146-04:002011-04-20T10:13:47.146-04:00No one is taking The S&P thing seriously. Thi...No one is taking The S&P thing seriously. Think about it: they are saying that there is a real chance that the US will fail to pay off its bonds. Even the markets yawned by pushing Treasury Bond rates LOWER. <br /><br />While the Ryan plan was produced by (and I quote) a loon and the Obama plan is only a step in the right direction, we ain't Greece!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8355052.post-87567049290817202782011-04-19T22:43:28.735-04:002011-04-19T22:43:28.735-04:00It was part of a Lenten vow... ;-)It was part of a Lenten vow... ;-)Ken Schenckhttps://www.blogger.com/profile/09745548537303356655noreply@blogger.comtag:blogger.com,1999:blog-8355052.post-74765387833054841562011-04-19T22:40:53.182-04:002011-04-19T22:40:53.182-04:00Speaking of beating heads against walls... why in ...Speaking of beating heads against walls... why in the world were you watching one loon interview another? ;) Well, it's not Sunday yet, so perhaps that goes with the theme of darkness & confusion for now.::athada::https://www.blogger.com/profile/09046982982270546995noreply@blogger.com