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Author Topic: George Bush has cut the national debit in half  (Read 1289 times)

Offline Shamus

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George Bush has cut the national debit in half
« Reply #30 on: October 05, 2007, 04:42:29 PM »
Quote
Originally posted by Holden McGroin
The trade deficit can be helped with a weak dollar.  Ask Boeing.

(I am just seeing a silver lining to the dark clouds)


It most certainly can if we have something to export.

Has Boeing taken over the old saying of "whats good for General Motors is good for the country"?

shamus
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Offline SkyRock

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George Bush has cut the national debit in half
« Reply #31 on: October 05, 2007, 05:13:52 PM »
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Originally posted by lazs2
skyrock... you are not reading it correctly... even with gutting the military... under klinton our share of debt was slightly higher than second bush... less than first bush... the real large amounts were under democrats... but... they all do it.

lazs

I was reading debt per share, and I quoated the numbers posted.  What is incorrect about my post?
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Offline Holden McGroin

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George Bush has cut the national debit in half
« Reply #32 on: October 05, 2007, 05:39:27 PM »
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Originally posted by Shamus
It most certainly can if we have something to export.
 


In 2006 we only exported 1.024 trillion dollars worth of goods:

agricultural products (soybeans, fruit, corn) 9.2%
industrial supplies (organic chemicals) 26.8%
capital goods (transistors, aircraft, motor vehicle parts, computers, telecommunications equipment) 49.0%,
consumer goods (automobiles, medicines) 15.0% (2003)

Apparently you are right:  We have nothing to export.
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Offline Fishu

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George Bush has cut the national debit in half
« Reply #33 on: October 05, 2007, 06:39:36 PM »
Quote
Originally posted by Holden McGroin
In 2006 we only exported 1.024 trillion dollars worth of goods:

agricultural products (soybeans, fruit, corn) 9.2%
industrial supplies (organic chemicals) 26.8%
capital goods (transistors, aircraft, motor vehicle parts, computers, telecommunications equipment) 49.0%,
consumer goods (automobiles, medicines) 15.0% (2003)

Apparently you are right:  We have nothing to export.


And in the meanwhile imported 1.861 trillion worth of goods.. ouch.

You have more services to export than goods in relation to imports. The worth of exported services was 0.42 trillion while the value of imports was 0.34 trillion.
« Last Edit: October 05, 2007, 06:41:56 PM by Fishu »
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Offline Holden McGroin

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George Bush has cut the national debit in half
« Reply #34 on: October 05, 2007, 07:13:50 PM »
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Originally posted by Fishu
And in the meanwhile imported 1.861 trillion worth of goods.. ouch.
 


I believe that is why it's called a trade deficit.  I believe if the numbers were reversed, some different terminology would be required.
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Offline john9001

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George Bush has cut the national debit in half
« Reply #35 on: October 05, 2007, 07:40:11 PM »
well if they keep sending us goods in exchange for "worthless paper" ( as someone called it), who is the fool?
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Offline ROC

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George Bush has cut the national debit in half
« Reply #36 on: October 05, 2007, 08:23:49 PM »
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Offline Fishu

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George Bush has cut the national debit in half
« Reply #37 on: October 05, 2007, 09:52:42 PM »
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Originally posted by john9001
well if they keep sending us goods in exchange for "worthless paper" ( as someone called it), who is the fool?


Dunno...  When they realise the paper is worthless you'll be in a world of hurt. What goes around, comes around.
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Offline crockett

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George Bush has cut the national debit in half
« Reply #38 on: October 05, 2007, 10:01:31 PM »
Quote
Originally posted by lazs2
skyrock... you are not reading it correctly... even with gutting the military... under klinton our share of debt was slightly higher than second bush... less than first bush... the real large amounts were under democrats... but... they all do it.

lazs


First off the amount of the debit is illrelavent. It doesn't matter if it was 5 trillion under Bush one and 500 trillion under Clinton. I didn't even bother reading the numbers so I can't say if they are accurate or not. Simply because that number doesn't matter if you can pay it off.

The only thing that matters, is if you can pay off the debit. That is what balancing the budget means. The amount of spending, means nothing as long as the money is there to pay for what you spent.

That is what Clinton did, which you seem to miss in your typical have to bash a liberal idealism. Clintion "balanced" the budget. That means the govt had "surplus" money to pay off that debit at the end of the fiscal year.

Clinton did not pay off the debit and make it zero. He put govt spending in check and balanced the budget just like you do with your checkbook, hopefully.

Had we stayed on Clinton's plan the national debit "would" have been paid off. However Bush came in and threw away everything Clinton admin did, then went on to double the national debit in less than 6 years.

That's what your so called "conservative small govt" Republicans do best. See you Republicans want to always whine about taxes and all this BS but at the end of the day, they always overspend and cause this kind of issue.
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Offline lasersailor184

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George Bush has cut the national debit in half
« Reply #39 on: October 05, 2007, 10:15:05 PM »
Quote
Originally posted by crockett
First off the amount of the debit is illrelavent. It doesn't matter if it was 5 trillion under Bush one and 500 trillion under Clinton. I didn't even bother reading the numbers so I can't say if they are accurate or not. Simply because that number doesn't matter if you can pay it off.

The only thing that matters, is if you can pay off the debit. That is what balancing the budget means. The amount of spending, means nothing as long as the money is there to pay for what you spent.

That is what Clinton did, which you seem to miss in your typical have to bash a liberal idealism. Clintion "balanced" the budget. That means the govt had "surplus" money to pay off that debit at the end of the fiscal year.

Clinton did not pay off the debit and make it zero. He put govt spending in check and balanced the budget just like you do with your checkbook, hopefully.

Had we stayed on Clinton's plan the national debit "would" have been paid off. However Bush came in and threw away everything Clinton admin did, then went on to double the national debit in less than 6 years.

That's what your so called "conservative small govt" Republicans do best. See you Republicans want to always whine about taxes and all this BS but at the end of the day, they always overspend and cause this kind of issue.


Basically, you can "Balance the Economy," or you can "Balance the Budget."  Most of the time, doing one either way will work to direct detriment to the other.


I'll be the first one to swear off socialism, and never telling someone else what to do, but all American Citizens need to learn economics.  It's embarrassing the extreme lack of knowledge of it, and even more so the politician's ploys to play off of your fears.
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Offline bj229r

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George Bush has cut the national debit in half
« Reply #40 on: October 05, 2007, 10:35:33 PM »
The only number of significance is the portion of the annual budget devoted to debt service....it seems to be quite small. For about 5 years in the 90's (coincidentally or not starting after the THEN fiscally conscious GOP won the House, our projected annual deficits went from 200 billion to nearly zero---Only reason for that was greater-than-expected tax revenues from a hot economy, and military budget cuts, and welfare reform...which was predicted to be a disaster. (Doesn't seem to have been such) At any rate, by the time Clinton LEFT office, we ere heading into a small recession, followed by 9/11 and a BIG recession, and the need to put all the military cuts BACK in, plus a LOOOTTTT more. The only response from the left side of the aisle is that things were rosey under Clinton.
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Offline rpm

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George Bush has cut the national debit in half
« Reply #41 on: October 05, 2007, 11:45:04 PM »
Quote
Originally posted by crockett
That's what your so called "conservative small govt" Republicans do best. See you Republicans want to always whine about taxes and all this BS but at the end of the day, they always overspend and cause this kind of issue.
You forgot to mention they always expand government while they are at it. Otherwise, spot on.
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Offline Sixpence

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George Bush has cut the national debit in half
« Reply #42 on: October 05, 2007, 11:46:58 PM »
The trade deficit is different from the national debt. Actually, the weak dollar is a result of the 500 billion dollar trade deficit. This is just things starting to equal out. Now canadians are coming across the border to buy our stuff instead of us going to canada to buy. This is a boon for American business.

I'm no good at economics, but it would seem to me as the trade deficit swings the other way the dollar will become stronger. And I could be wrong, but I would say the greenback is pretty strong if it takes a 500 billion dollar trade deficit for foreign currency to equal ours in value.
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Offline Shamus

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George Bush has cut the national debit in half
« Reply #43 on: October 06, 2007, 12:45:08 AM »
Quote
Originally posted by Holden McGroin
I believe that is why it's called a trade deficit.  I believe if the numbers were reversed, some different terminology would be required.


Pay no attention to the man behind the curtain :)

shamus
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Offline crockett

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George Bush has cut the national debit in half
« Reply #44 on: October 06, 2007, 01:41:00 AM »
Quote
Originally posted by rpm
You forgot to mention they always expand government while they are at it. Otherwise, spot on.


Yes and the other thing they fail to realise in regards to the big picture. If we didn't have a national debit, taxes would very likely be much less. Meaning the glorious goal of less taxes that Republicans swear to love, would end up coming naturally as a result of our country having a surplus budget.

Just like if you are in heavy debit personally. If you want to get out of it, you have to cut back on things you would like to have and focus on paying off your bills. Once you pay them off, you are then free to do as you will.

That's what needs to happen in this country, we need to put full focus on paying off the debit then we can worry about tax cuts and social programs.
« Last Edit: October 06, 2007, 01:43:20 AM by crockett »
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