Mitt says he'll fire Big Bird!

[Charles]

Originally Posted by wgrr

This country has only been "flush" one time in our history. That was in 1835 and 6 under President Andrew Jackson. A country being debt free is not a good thing. It was a topic of much economic discussions in 2000 when, if we followed the 1990's economic model set by Clinton and the Republicans who controlled Congress, we would be 100% out of debt now and, actually have a huge revenue surplus. There were major concerns amongst the Fed and economist in the world that a "flush" US would cause major world economic problems around the world. Educate yourself.

I don't fault people that think running a budget for a nation is the same as running a budget for your household. It absolutely is not the same. Your household can create wealth if you borrow money to buy it. If you pay cash no wealth is created. Once again educate yourself.

The economics of the US and the world are complex. In order to improve our economic outlook, we need steep tariffs on imported goods, tax increases that are fairly distributed, and investment in infrastructure instead of investing in endless wars that accomplish nothing. Eisenhower did warn us, but what does a five star general know about the military industrial complex?

For the sake of argument, I will concede that Jackson's policies of ending the 2nd BUS and attempting to return to hard currency was the direct result of the Panic of 1837.

And since the one time the elimination of the Federal debt caused a financial crisis, why is it we've suffered so many other financial meltdowns before and since the implementation, and consequent abandonment, of Jackson's policies?

Chas