“I don't have the time to type an economic dissertation - markets are global - no company is going to sell energy for less than the price determined by the market place. And deficit spending has been in place since Wilson adminstration - 4 trillion of the debt was borrowed from the Social security trust fund - thats money we owe ourselves - the rest can easily be paid down over time by implementing a wiser tax policy - everybody used to freak out when the debt hit a trillion when Reagan was in office - the economy will begin to rebound as all economies go through booms and bust cycles - there is simply no need to panic”
SonofHercules on Oct 1, 2012 at 00:41:55
“Referring to that 4.7 trillion from ss and other pension funds as intragovernmental debt that we owe ourselves is a stretch. It's not as if the dept of energy owes it to the dept of education. It's as much of a publicly held debt as any T Bill. The only real distinction is that it can be renegotiated or renegged upon. They'll pay it one way or another before they do that. We've got trillion dollar deficits forcasted as far as the eye can see. We would be in deep trouble now if the interest rates were normal. We're getting close to the tipping point where we're not going to cycle out it.
The public owns most of the land that produces the oil. It's a matter of negotiation to control what market it can be sold on.
“Total nonsense - you are a partisan idealogue not qualified to discuss economic theory - 5 minutes ago you were talking about future bankruptcy when in fact we have been bankrupt for over 90 years and energy independence which is not possible because markets are global. ”
SonofHercules on Oct 1, 2012 at 00:13:14
“Please educate us then. Why have we been bankrupt for 90 years and why does that make the current debt a non issue? We've been downgraded because of the $16 trillion current debt that's not being addressed.
As far as the global market goes, I will support any candidate who tries to limit the sale of resources from public lands to domestic market. It's nuts to pay Opec rates for oil from public land.”
“Hardly - the defecit is due to lost tax revenue - he did not do any new spending”
SonofHercules on Oct 1, 2012 at 00:00:32
“Obamacare, 800 billion stimulus through a snow blower with nothing to show for it. Pell grants, food stamps. Look at the revenue in Bush's second term. The growth outweighed the tax cuts. Obama's in a bad situation. Govt spending is growing out of control. He has done absolutely nothing to reign in the spending. He sequesters the military while the pigs at GSA are swimming in cash and laughing at us. If he raises taxes he'll kill the little growth we have. We need a lot less govt spending until private growth returns. ”