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Thread: The stimulus will fail...
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02-16-2009, 12:20 PM #13
Re: The stimulus will fail...
I think you might want to research this a little biit more before preaching such certainties. I read something just this morning which spoke to the idea of Texas' future deficit problems. I will have to look on my other computer to see where it was in my history and post the link.
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02-16-2009, 01:17 PM #14Legendary RSR Poster
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Re: The stimulus will fail...
In 2008, Texas ran a very small deficit of $10 Million (compared to it's GDP of about $1 Trillion) which it recouped by lowering property taxes in certain areas of the state. But we have a balanced budget amendment so any deficit the state ever has is quickly made up as to not roll over debt to future generations (Obama and the Democrats, take notice).
And how exactly does a government deficit equate into an upcoming bad economy or the need for a state income tax?
I understand that's the in-the-box thinking liberals have in regards to the economy. But in the real world, those numbers dont add up. You should be encouraged though -- CA is doing exactly what you think will work in actually raising all kinds of taxes, fees etc to make up for their budget short fall.
The Gubmint there takes and takes and takes ....
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02-16-2009, 02:29 PM #15
Re: The stimulus will fail...
I answered Gregs question. United States. He just didn't like my answer because he doesn't see the connection between how education enables people to run successful private businesses and infrastructure allows businesses to move product and communicate. Those are two examples of huge spending that set the framework for private enterprise. It seems silly to debate that.
You are right that I live in a small house and drive cheap efficient vehicles. I buy clothes from the outlets and my one t.v is 29 inches and 10 years old. No there is no surround sound stadium seating either. I also spend an outrageous amont of money each year traveling so to each their own. Visiting my accountant this morning, she said my wife and I are one of the few she worries about because we have no debt outside of the house mortgage and a few straggling student loans.
The country is in a different situation though Trap. Every economic indicator is spiraling down and will continue to go down. Do you really thiink that extra $13 a paycheck the american public will get next year because of the tax cuts will make a difference? Spending is investment if done properly. One can debate that the stim. might be bad from an investment standpoint and there might be better ways of inserting that spending but to throw out a blanket statement that "spending has never worked" is really right wing ideology and oblivious to how businesses become successful and how this nation has been built.
If everyone out there in america lived in an affordable house, purchased affordable automobiles, did not have credit cards and avoided Best Buy intoxication then we wouldn't even be having this debate and I would be praising tax cuts. It ain't that way though...unfortunately.
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02-16-2009, 02:31 PM #16Legendary RSR Poster
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Re: The stimulus will fail...
And as to Galen's assertion about some deficit here in Texas ....
http://www.cbpp.org/9-8-08sfp.htm
Best I could come up with is a "possible budget deficit" in 2010, but that's not certain depending on how fast the economy turns itself around -- BTW, housing sales are way up in TX without the nonsense of Obama's spending plan.
So if it's good for the 7th largest economy in the world, why wont it work for the entire US?
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02-16-2009, 03:17 PM #17
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02-16-2009, 04:17 PM #18Legendary RSR Poster
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Re: The stimulus will fail...
Do the math ....
1. It's a possible future deficit, based on economic conditions right now. Maybe read the whole thing first?
2. Texas has a GDP of $1 Trillion. I am no math major, but that works out to a possible (and meager) 3.5% shortfall. Very easily made up with no drastic action as adding a state income tax.
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02-18-2009, 03:28 PM #19
Re: The stimulus will fail...
Trap, it's no wonder you have no compassion for those less fortunate than you. It's kinda like McCain saying... the economy is sound.... What does he know? he has 7 houses and a secure income. It also irks me to no end to hear him calling the stimulus package "passing debt on to our children"
.... Like the trillion in debt W racked up in his unwarranted attack on Iraq will not be passed on to our children.... but trying to help THE PEOPLE IN THIS COUNTRY by spending a tril is somewhat worse than spending it on killing 500,000 people?
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