Deficit Negotiations
http://thedianerehmshow.org/shows/2011-07-05/deficit-negotiations
The White House says Congress has until July 22nd to come to an agreement on a plan to cut the deficit. One trillion dollars in spending cuts have been outlined, but Republicans and Democrats remain sharply divided on whether some tax increases should also be included. The Senate has agreed to cancel a planned recess next week to allow more time for negotiations: Join us for an update on the negotiation process and how proposed deficit reduction measures could affect the overall U.S. economy.
Guests
David Stockman
former Congressman from Michigan, R
budget director during the Reagan administration
David Wessel
economics editor, The Wall Street Journal; author "In Fed We Trust"
Alexis Simendinger
White House correspondent, RealClearPolitics
Chris Cillizza
author of The Fix, a Washington Post politics blog, and managing editor of PostPolitics.com.
Comments
Please familiarize yourself with our Code of Conduct and Terms of Use before posting your comments.
Etaoin stated on 7-5-11 @ 1:51pm.
"If you’re going to debate the future of this country, try to get your information both correct and complete"
It is you that needs to get your information straight. Since 2008 employment is down by 25% and the taxes that would have been collected by these employed individuals are not being collected because of unemployment.
Second. Obama wrote into law in December after lossing 63 seats in the Congress a temporary Payroll tax deduction which will further reduce government revenue.
Let add to the record that one million more people are on government assitance under Obama even with the 856 billions dollar Recovery Act.
Etaoin wrote on 7-5-11 @ 1:40pm
Remember, in December of last year the Republi-Cons used the filibuster to hold hostage the unemployment insurance benefits (along with the people who needed them to survive) unless those cuts were extended. Should Obama and the Democrats have gone along with that and abandoned those people.
Perhaps the Republicans knew the amount of waste and enabling that would take place if unemployment benefits were continued. From USA Today.
http://www.usatoday.com/money/economy/2011-07-04-jobless-benefits-fraud_...
Your not going to find that info in The World Alamac, Pg. 63
taoin Shrdlu wrote:
Jeffrey Manor on July 5, 2011 @ 10:26 am wrote: “The deficit is about $1.5 trillion. Total individual income taxes are $900 billion. even if you doubled income tax revenues, raising a further $900 billion, there would still be an unsupportable deficit.”
I don’t know where you got your figures from, but they are wrong (as is your argument). In 2008 revenue from just the individual income tax was over 1 Trillion dollars. Even with the continuing Great Recession (brought to us courtesy of Republi-Con policies, though some Democrats were guilty of following them) I doubt revenue has dropped that much.
=================
Shrdlu
If you want to be a spear-chucker, you should carry spears. Since my figures are from Obama's OMB at this link:
http://www.gpoaccess.gov/usbudget/fy11/pdf/hist.pdf
on Page 31.
You doubt revenue dropped that much.
You have no spear.
QED
The DR Show is right at the top of the Best Shows Ever. Listening to it yesterday, though, it made me sad to realize that each guest with his/her special talent is far above the general population in his/her knowledge of the nuts-and-bolts of the finance machine.
Defining the problems is not easy and looking for the solutions is not easy, either. Many callers just get angry, as if the problems are simple and so are the solutions.
What do we need to know in order to learn more? This applies not only to the world of finance, but to all areas that apply to living in our civilization as ciivilized human beings ought to be living.
mag1rick1 wrote:
"What do we need to know in order to learn more? This applies not only to the world of finance, but to all areas that apply to living in our civilization as civilized human beings ought to be living."
I’m no expert.
If you truly care to learn the truth, you are already one step up on majority of Americans, but you will have to go out of your way. Unfortunately encouraging open and discerning minds is not valued highly in much of today’s education system.
If you rely simply on blurbs and talking points of various medias, it is for sure your views will be skewed. Corporate ownership of large media outlets cloud truth considerably.
Couple interesting facts:
1/3 of high school graduates never read another book for the rest of their lives.
42 percent of college graduates never read another book after college.
Visiting a library might not hurt. One thing will lead to another, if you have an open mind and truly care to learn.
I can recommend what are some good books, but then I could be accused of encouraging an agenda.
But honestly it’s not all that complicated and truth is if you want to “win friends and influence people”, you want to learn as much as possible, but in communication with others, you may want to learn to simplify your message as much as possible. “Talking points” espoused by think tanks influence politics and Americans society greatly.
Actually most of the facts are plain to see. It’s as much about taking your blinders off and having courage to state the obvious even when other’s don’t. When “King has no clothes” don’t let others convince you that he does. Once you believe something that is obviously wrong just because it’s comfortable and because others seem to do so, you lose part of yourself. It’s a slippery slope-
Just my opinion.
Sohu YORK,jordan 9 + air max 2009, June 4,nike air griffey max 2, 2010 World Snooker Classic Wuxi in Wuxi Sports Park Stadium continues. Focus in a war,jordan 2011 + air max 2009, Hendry 1-5 loss to Murphy,air jordan trunne, missed the semi-finals. (Sohu sports Lai Han / photo) (Editor: Make Jie)