Supply-Side Economics

[whell]

Originally Posted by Rajoo

This thread is about hog wash. Tax breaks for the middle class, that's truly Fake News. I spent mine at Starbucks in Oakland yesterday, $5.00 for a medium latte. Here is the reality.



The bolded text is a reality check. What good does a measly tax cut do when the economy goes into a recession and incomes get depressed due to unemployment. Anyone remember the Reagan economic miracle, aka Woodoo Economics?

http://time.com/money/5071344/gop-ta...-middle-class/

Good thing most folks apparently don't agree with you:

http://www.sca.isr.umich.edu/

[Rajoo]

Originally Posted by whell

Good thing most folks apparently don't agree with you:

http://www.sca.isr.umich.edu/

So how many grad students does Richard Curtin have?
What you have linked is an opinion survey of consumers, as if .........never mind.

[Rajoo]

Borrowed money doing it's magic again? How about recessions down the road?

[Chicks]

Originally Posted by Rajoo

Borrowed money doing it's magic again? How about recessions down the road?

Shiller, the Nobel Laureate whose pinkie knows more about economics than Whell will ever comprehend, warns that the upcoming midterm rout may cause economic collapse. He mentions that other big pro-business president, Calvin Coolidge. We all know how his economic “wisdom” turned out.

https://www.bloomberg.com/news/video...ket-down-video

[finnbow]

House Republicans will take up a balanced-budget amendment when they return from recess, several sources tell us. This follows on the heels of their $1.3-trillion budget bill and their massive tax bill. WHY DO THIS NOW? Here’s what we think: It’s almost election season, and it would be helpful if GOP lawmakers could go home and be able to say they voted to support balancing the federal budget, even though they voted boosted discretionary spending by a ton, and have not touched entitlement spending, which, they have said for years, is the driver of U.S. budget deficits.

This is like Donald Trump proposing to lead a campaign to make adultery illegal.

https://www.washingtonpost.com/blogs...now-heres-why/

[Chicks]

Starbucks!? Oakland!? You must be one a them dang lefties Whell keeps a’warning us on, son!

Don’t let on to ol’ Whell, but his Deetroit is dang near as leftist as Oakland! Wouldn’t want to frighten him, all them pinkos nearby and all.

http://www.oregonlive.com/today/inde...essive_th.html

[Chicks]

More economic leaders weigh in on this unsustainable economy with these absurd tax cuts. Unlike local yokel Whell, these guys actually know what they're talking about.

No less than five of the country’s most distinguished economic leaders sounded the alarm in The Post on Tuesday. Michael J. Boskin, John H. Cochrane, John F. Cogan, George P. Shultz and John B. Taylor warned in their Post Opinions essay, “A debt crisis is on the horizon,” that “even if economic growth continues uninterrupted, current tax and spending patterns imply that annual deficits will steadily increase, approaching the $1 trillion mark in two years and steadily rising thereafter as far as the eye can see.”

the reality of what Boskin, Hiatt and the others say could not be more clear or more serious. Just 10 years ago, our debt was $9.4 trillion. Today, it is $21 trillion. Of that, more than $15 trillion is held by the public. And according to the experts, the public’s debt burden could quickly rise to $20 trillion in just five years. If that happens and interest rates rise to 5 percent —1.5 percentage points higher than that which the Trump administration predicts — the aforementioned economists say “the interest cost alone on the projected $20 trillion of public debt would total $1 trillion per year.” That is more than America’s current $654 billion defense budget.

https://www.washingtonpost.com/blogs...-crisis-looms/

[whell]

Originally Posted by Chicks

More economic leaders weigh in on this unsustainable economy with these absurd tax cuts. Unlike local yokel Whell, these guys actually know what they're talking about.



https://www.washingtonpost.com/blogs...-crisis-looms/

Of course, I fully agree with the comments of the economists in your WaPo post. The ballooning of the debt that they're bowling about occurred under St Barry. That was real, incurred federal debt. Were these guys howling then while money the Feds didn't have was flying out the door? Or did they wait, like you are, until St Barry leaves office to try to blame someone else for the debt St Barry ran up, and howl about projected debt?

I don't like the Omnibus either, but the funds haven't been spent yet. I will say that my optimism about getting federal spending under some control has dimmed a bit. But listening to folks like you crow about debt fears is a bit like listening to the builders of the Titanic discussing leaky plumbing in the galley.

[finnbow]

Originally Posted by whell

Of course, I fully agree with the comments of the economists in your WaPo post. The ballooning of the debt that they're bowling about occurred under St Barry. That was real, incurred federal debt. Were these guys howling then while money the Feds didn't have was flying out the door? Or did they wait, like you are, until St Barry leaves office to try to blame someone else for the debt St Barry ran up, and howl about projected debt?

Are you really that dimwitted? Deficit spending is exactly what was called for in the midst of the second worst economic downturn in the nation's history. Obama brought the nation back from the brink of economic collapse with his economic policies (which the GOP fought every step of the way). One would think you'd realize this coming from Detroit, home of the domestic auto industry that Obama saved. Jeez.

[Chicks]

Originally Posted by finnbow

Are you really that dimwitted?

He’s a diehard Trumpie. Kinda goes without saying.