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Old 12-03-2011, 10:02 PM   #46
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Originally Posted by Irvine511 View Post
which prevented a Second Great Depression.

he also knows that it's not "government spending" that got us into this mess, it's the lack of revenue the government is able to collect due to the Bush tax cuts and Bush's economic collapse.

and he knows that Republicans don't cut spending. they only cut taxes. it isn't politically popular to cut spending.
Recessions always cause debt but the spending can be under control. As that graph shows the wars weren't as expensive as the domestic spending and spending grew under Bush (espeically with Pelosi) and with Obama/Pelosi even more. So the argument is really about how the left wants to raise spending until tax increases are a forgone conclusion. If Bush didn't spend as much there still would be deficits because of the housing collapse and yes lowering taxes without lowering spending doesn't make sense especially when Reagan lowered them from a 70% top rate. The Laffer curve won't work in lower tax scenarios. Like I said Bush didn't know what to do (he admitted so) when dealing with the tech bubble. It was just "let's go shopping" and when private debt was to the point that people couldn't keep on shopping the stimuluses borrowed on their behalf to try and do it for them with pointless results. If Obama wins I will be waiting with bated breath on these tax increases and seeing if they are actually used to narrow the deficit.

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Old 12-04-2011, 01:49 AM   #47
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Maybe not textbook socialism but clearly social democracy and statism when government spending in the U.K. is 47% on the GDP with the country's largest employer being The National Health Service.
Government spending in France and Sweden is 53%, Denmark 52%, Germany 44%, Ireland 42%, Spain 41% and Norway 40%.

The U.S has closed the gap considerably in the past 4 years (thanks to Obama's checkbook and European cuts) but our percentage is still considerably lower than Europe when you factor in that we pay for Europe's defense as well as ours.

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Old 12-04-2011, 01:55 AM   #48
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Paying for Europe's defense seems like a really good fiscal policy, doesn't it?

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