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View Diary: Obama admits he's already conceded more than warranted (360 comments)

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  •  Both sides aren't serious about deficit (3+ / 0-)
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    Aspe4, apimomfan2, Paper Cup

    reductions.  If they were, there would be a whole lot of tax increases, and spending reductions.  A 50/50 tune would be $600,000,000,000 from the most wealthy, and $600,000,000,000 in spending cuts, PER YEAR.  When you have a $1,200,000,000,000 annual deficit, 2,200,000,000,000 over 10 years is not a whole lot.

    There is no hell on earth appropriate enough for those who would promote the killing of another person, in the name of a god.

    by HarryParatestis on Wed Dec 19, 2012 at 10:58:22 AM PST

    •  Actually it is (1+ / 0-)
      Recommended by:
      ferg

      since the biggest part of the deficit is caused by the economic downturn. In good economic years the current deficit would be more like 400 billions and cutting that in half would put it well below GDP growth and inflation.

      •  What part is caused by Pntagram Bloat and Wars of (3+ / 0-)
        Recommended by:
        apimomfan2, Paper Cup, schnecke21

        Choice? And the Bush tax cuts, which have suddenly morphed into "potential tax increases" rather than "restoration of the Reagan tax structure"?

        "Is that all there is?" Peggy Lee.

        by jm214 on Wed Dec 19, 2012 at 11:14:39 AM PST

        [ Parent ]

      •  Well, we are not in an upswing. This is where (0+ / 0-)

        the wealthy needs to pony up, and the rest of us need to do more with less.  Not only this, but we also need to create an economy that brings in enough tax revenues to pay down the debt for the next 50 years.  That comes to about $330,000,000,000 per year.  The rich want to reap the benefits of living in, or the owning of America.  So the must pay the price, like any other commodity.  If it gets too expensive, there's always China, or India, or Mexico, or wherever the hell they want to go and own.  Warning:  Watchout for any stray bullets, or stray nationalizations of your properties.

        There is no hell on earth appropriate enough for those who would promote the killing of another person, in the name of a god.

        by HarryParatestis on Wed Dec 19, 2012 at 12:01:45 PM PST

        [ Parent ]

    •  So why is deficit reduction so important? (0+ / 0-)

      Please explain to me.  I understand if the interest being paid back is too high but right now interest rates are dirt low.  That's another reason why chained CPI for social security is a cruel blow.  Retirees are already being squeezed by poor returns from low interest rates.

      "The real wealth of a nation consists of the contributions of its people and nature." -- Rianne Eisler

      by noofsh on Wed Dec 19, 2012 at 12:00:39 PM PST

      [ Parent ]

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