My Rant on the Media's Deficit Panic.

Discussion in 'The Constitutional & RKBA Forum' started by 45Auto, Sep 24, 2010.

  1. 45Auto

    45Auto Active Member

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    :eek:
    Am I the only one who feels insulted? It seems that every time I turn on the radio or t.v., some knuckle head is talking about the budget deficit. Yes, I know it’s bigger than ever, but it seems to me that no one has a memory anymore.

    The venerable Ronald Reagan ran up the biggest budget deficit the nation had ever known and he increased the size of the Federal Govt by a sizeable magnitude. President George H.W. Bush was no better. (Clinton eliminated the deficit and had a budget surplus - but we won’t mention that). Then, George W. Bush spent the Clinton surplus, ran up a deficit bigger than Reagan’s and even fathered the Wall Street Bailout before he left office. During G.W.B’s presidency no one got all that excited by G.W.B’s record deficit, until the world financial crisis started crashing. G.W.B. pushed for a bank bailout and got it with join GOP and Democratic support.

    Now, here we are. The big media outlets think we are so stupid that we will NOW get all excited about the current budget deficit. If it was no big deal under President Reagan why is it the only thing the media talks about today?

    It seems to me there are far more pressing and basic policy issues to be discussed than the deficit. For example, why not overhaul the tax code to encourage making things and jobs in the USA (make it hear, pay less) ? Close up tax loopholes, like those that permit corporations to move their headquarters to bogus mail drops in the Bahamas and then pay no taxes? One that I have a problem with is how you can really be in favor of law and order if you don’t believe in laws to regulate the crooked practices of Wall Street Banks and Investors? Why is ‘Vini the Loan Shark’ a crook but credit card corporations are 'good businessmen'? Who owns the U.S. news outlets anyway? But I’ll never hear these issues debated. It’s only the deficit, the deficit, and the deficit.

    Anyway, please excuse my rant. I’m sure many of you have memories and have had similar thoughts.

    All the best,

    Greg
  2. NRA_guy

    NRA_guy Member

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    Yes, past Republicans have run up major deficits and have been as bad (or worse than) Democrats.

    Truth is, "moderate" Republicans and "liberal" Democrats have teamed up to screw US taxpayers and use taxes and deficits (future taxes) to buy votes.

    But nobody has come close to the deficits Obama has run up.

    And that will destroy the US. It may well be too late to prevent the destruction.

    Deficit spending is tied to high taxes and to the lack of jobs (especially manufacturing jobs) in the US.

    You cannot fix the economy unless you fix government spending.
  3. Bobitis

    Bobitis Guest

    I'll bite...

    Clinton benefited from Reagans policies. It had nothing to do with his efforts.
    Clinton then went on to decrease the military budget (score one for fiscal insanity). Then ran from the bombing of the USS Cole (terrorist act). Don't forget Somalia, watergate, troopergate, and the dubious honor of being impeached for lieing under oath. Great man there.:rolleyes:

    Bush was left with rebuilding our military, and our country was attacked under his watch. He started the war on terrorism with the democrats approval. Everyone rallied around him till they decided to jump ship when the political wind blew their direction.:mad:

    GW tried to step in when Fannie and Freddy got out of control due to liberal logic. He was knocked down, and the rest of our current situation is history.
    He gets all the blame for trying to save our country, while Nero plays the fiddle and fans the flames.

    Yes, GW made some mistakes. Everything Obama does is a mistake. Every time he opens his mouth. The liberals own the media, and the general public is too stoopid/lazy to do any research. After all, if you hear something often enough, it must be true.:(

    Obamas budget has put all others combined to shame.

    They'res plenty of blame to pass around to be sure. But the largest culprit is the current administration. They put all the blame on anyone else.

    Reagan knew what he was getting into, and manned up to the table.
    Clinton knew what he was getting into, and ran like a girl.
    Bush knew what he was getting into, and got slammed with the largest attack on US soil since Pearl Harbor. Then he Manned up as well.
    Sadly, he's been crucified ever since. Even to this day, almost two years into hope and change, our multi trillion dollar deficit is blamed on GW.

    We have a history of accomplishments that liberals have taken advantage of; yet when they hold all the cards, they can't admit their own ignorance.
    They tell you what you want to hear to get your approval. When they have it, they slowly stick the shiv in your back so you don't feel it. When you're dead, you don't even know it.

    Obama has taken this one step further. He's pretty much proclaimed that the people should accept the knife and praise him for it.:eek:

    Sorry for the ramble 45auto...

    You'll never here the truth about the deficit or who's to blame. The libs own the media and the internet. Print it when you read it. Soon it will be gone. That's what history is about. The winner is the one that last reported in.
    Last edited by a moderator: Sep 24, 2010
  4. springerbuster

    springerbuster New Member

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    Bobitis I could not have said it better myself.
  5. obxned

    obxned New Member

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    The deficits during the Bush years were written and approved by our leftist congress. Bush lacked the brains or cajones to veto the disaster.
  6. Bobitis

    Bobitis Guest

    Bush tried to stop the mortgage meltdown. He was overridden. He had brains and cajones. He tried. The wars on terrorism helped exacerbate the deficit.

    What are you talking about?
  7. Hatch

    Hatch Former Guest

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    There's a few other things that went on as well... and some of them date back a bit so the relevance was probably discounted but it's certainly clear now!

    During the Great Depression congress passed the Glass-Steagall Act http://en.wikipedia.org/wiki/Glass-Steagall_Act This was a banking control bill that established reforms and rules that restricted how much money a bank could loan out based on cash on hand, what kind of investments a bank could make, in effect separating commercial and investment banks.

    Along comes http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act This stripped out a lot of those regulations, so what we saw was the merger of banks and investment firms, Citi + Travelers = Citigroup, etc... (this kind of safeguard was in place to prevent these mergers for a reason!) This law was signed by President Clinton.

    Add in Credit Default Swaps which looked great on paper and the ratings were manipulated... and you have a lot of non money moving around from bucket to bucket without bringing any value except the note itself.

    Then you add the CRA, signed into law by Jimmy Carter. http://en.wikipedia.org/wiki/Community_Reinvestment_Act

    With CRA you get Federal law that basically says housing loans must be made, as the laws are revised and watered down you get to what we actually saw. Non Disclosure home loans. Banks would not ask if someone's income met the ability to repay a loan. Why? Because of this law signed in 1975... http://en.wikipedia.org/wiki/Home_Mortgage_Disclosure_Act

    Look what this law setup...

    HMDA data can be used to identify probable housing discrimination in various ways:

    * If an institution turns down a disproportionate percentage of applications by certain races (e.g. African Americans), ethnicities (e.g. Hispanics) or genders (typically women) then there is reason to suspect that the institution may be discriminating against these classes of borrowers by unfairly denying them credit. Such discrimination is illegal in the United States.

    * If an institution has a disproportionately low percentage of applications by certain races (e.g. African Americans), ethnicities (e.g. Hispanics) or genders (typically women) then there is reason to suspect that the institution may be discriminating against these classes of borrowers by unfairly discouraging them from applying for mortgage loans. Such discrimination is illegal in the United States.

    * If an institution has a disproportionately low percentage of applications from certain areas, compared to areas immediately surrounding the area in question, then there is reason to suspect that the institution is engaging in redlining.

    * If there is a disproportionate prevalence of high-interest loans to certain classes of borrowers (e.g., Hispanics or women) then there is a reason to suspect that the institution is engaging in discrimination


    So.... to avoid alienating anyone but aliens, and boil those down to a point, and point at a couple certain administrations....

    Lets say someone decides to open a for profit business... a BANK! and they want to put their bank in... City X! Because there's an entire community of 3 headed purple space aliens in X and they don't have enough banks, there's three or four banks, but there's room for more!... along come these laws... now you add a "community organizer" who is a lawyer, and he takes these laws and takes the poorest bank to court and says, "Your Honor, I can prove Bank XYZ is discriminatory under US Laws... they arent making loans to 3 headed purple space aliens!"

    Once the first bank loses and settles, it's a legal precedent... the rest better get onboard with making bad loans. Then it goes National, then you do the Credit Default Swaps and it goes GLOBAL!

    Add in a few more things...

    Clinton who is quoted as considering himself an "economist" rode the .dot-com bubble, life was GREAT while he was president, everyone was buying houses, everyone had great jobs! Except... there was no value behind the corporations and there was no income behind the home loans. Oops! And who's holding the bag on this? You and I are... because the unconstitutional entities Fanny and Freddie are backed by the taxpayers. OUCH!!!!

    Bush 43 strolls into office, the .dot-com bubble bursts... then there's 9/11 and then just to top it all off... there's Katrina. Those three events are unparalleled in history for a country to sustain. The cost of any single one of them would reduce most of the nations on the planet to rubble. Add in a Sept attempt to overthrow the Fed and short the USD in Sept 08... well, you can see the recipe for disaster already forming, from the 70's. And everything we did only made things worse.

    The Federal Budget is now comprised of 56% on entitlements and we're borrowing 40 cents of every dollar we spend. Basically... Social Security, Medicare and Welfare are consuming the entire Tax Revenue, things like operating government, the defense of our country and anything else Congress spends money on, is ALL borrowed.

    In a nutshell... we're bankrupt. We've spent ourselves into oblivion. We have an administration that wants to spend us out of trouble... uh yeahhhhhh. And now, we've added nationalization and bailouts of Banks, Auto manufacturing and the start of taking over the health care industry.


    And I haven't even touched on foreign countries that are looking to dump the USD as a reserve currency or OPEC who would like to break the tradition of only trading in USD and go to a basket currency (no USD allowed in the basket... sorry!) and you end up with a LOT of USD coming home with no value attached to them. In a home where all the manufacturing jobs have left, where laws and regulations and taxes are stifling anyone who wants to do business, small or large, and people are actually proud of calling themselves Socialists.

    Terrified yet? If you aren't, you're not paying attention...
    Last edited: Sep 24, 2010
  8. Bobitis

    Bobitis Guest

    Welcome Hatch.:)

    Great first post.:D
  9. Hatch

    Hatch Former Guest

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    Hiya! and thanks... I was originally here looking to find some range and load data on Remmy Core-Lokt 180 gr .30-06 so I could see what to expect moving my zero from 150 out to 300 but I saw this thread first and I really wanted to respond. :)
  10. hogger129

    hogger129 Active Member

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    Clinton was not responsible for a budget surplus. That was thanks to a Republican-controlled Congress that block a lot of Clinton's spending measures.
    Last edited: Sep 24, 2010
  11. Hatch

    Hatch Former Guest

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    This is absolutely true... Congress makes the law, and the budget, the President only signs them.

    I think the GOP got in trouble when they started spending money like drunken sailors in the mid-late 90's and early 00's... you add in all the sex scandals and... just stuff that's so far from what typical "conservative" values are... voters stayed home in 2008, and independents who were disenchanted with the RINO's deliberately drank the Kool-Aid.

    Now I'm not a Bush fan by any means... I can go on at length with things he screwed up HUGE!!! But it's especially a liberal tactic to blame him for things that never started on his watch, and he had bigger fish to fry... At the same time will I take Bush over Gore and Kerry? ABSOLUTELY!


    The great part of Obama is that we get so much of the liberal agenda showing it's hand at once, compared to another decade or two of slowly degraded rights and unconstitutional laws and entities. On top of that, there's now a new batch of combat trained young Americans who have no illusions what Socialism or Theocracy mean, and they will freak if Obama goes nuclear. Which is his only card... they're going to lose super majority in both houses of Congress this year, that's a foregone conclusion... 2012 is their only chance to hold onto power...

    No... I'm not a conspiracy nut who thinks ancient civilizations built calendars that stop on 2012 because they foretold the fall of the world blah blah blah... but yes, I think for the ultra left liberal cause, it's the only base that Dem's have anymore, since their politicians are either pandering to EVERY single issue voter, regardless of the cause, or losing their own center-middle base because they've been hijacked and dragged into liberal hell...

    how many dem's are stumping on the value and merit of the Obamacare act? How many are talking about the hundreds of billions of tax payer dollars to rescue auto unions? How about the UNSPENT money from TARP??? where is that? Where is that going to be spent in the next 6 weeks? Unions? Advertising? "Shovel ready projects"?...

    It's not a great time to be bragging about being in the party of corruption, lies and scandal... unless you're king maker... Oops! Obama keeps costing incumbents their jobs! Look at New Jersey and Virginia. Look at Tea Party wins defeating RINO's all over the country...

    Lets see what DC does the day after elections!
  12. 45Auto

    45Auto Active Member

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    President Ronald Reagan was a good man and we all loved him. But he was quite a big spender, and he inflated the size of the Federal Govt. His deficit was as big in his day as Obama's is today, and yet it WAS ok. This is no attack on Reagan only a comment upon several outcomes of his presidency. I don't think the sky was falling under Reagan's big deficit and I don't think it's falling now, at least not over the deficit. The way people think these days is another matter.

    Frankly, I no longer use terms like, "liberal" and "conservative." These words have become emotional rants of the propaganda machine. They have no clear meaning.

    I look for people who love the USA (common, guys this is a great country.). I also appreciate those who love our fellow Americans, no matter the party. Those who are important to me are those who appreciate our system of government. I like grown up honest patriots who pay their taxes because nothing is free. And I say a big "thank you" to those who spend so many hours on local county road commissions, school boards, city counsels, etc. because those things are hard work and not at all fun. But nothing gets done unless someone is willing to work on it (andif we don't like it we run for office). That's my America guys, no liberals no conservatives, only good people working together trying to do the best they can with what they have got.

    Picture it this way. You have two city cops in thier cop car stopped on the side of the road. One calls the other a "liberal communist" and the other answers that his partner is a "conservative nazi". They argue so much that neither one notices that someone is taking the tires off their patrol car while another crook is siphoning out the gas. That's the sort of politics I think we should avoid.

    Best regards,
    Greg
  13. carver

    carver Moderator

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    No jobs? Where did they go? Can I hear anybody say NAFTA, or GATT? Who signed these bills into law?
  14. kingcuke

    kingcuke Member

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    Budget deficits are not all created equal, it's like anything else there's good debt and bad debt. I'm not about to enter in a discussion about Regan's sainthood or Carters demonization but would like to make the point that the budget deficit doesn't scare me as much as the unregulated derivatives market where there is $20 in promises for every single dollar of GDP.
    That's what caused the crash (just like in the Great Depression 20 to 1 leveraging in an unregulated market).
    What caused the recession is the 25yr drive to a service economy. One does not create widespread wealth by providing service, only by adding value by creating a product or commodity. The vaunted innovative financial instruments which drove us up the mountain and over the cliff are nothing more than indexes roughly equivalent to the bookies daily line for financiers to bet other peoples money.
    The argument between which party or president is better or did what to me is just like the Andrea Dworkin quote:
    ""The argument between wives and whores is an old one; each one thinking that whatever she is, at least she is not the other."
  15. Jeff Midguard

    Jeff Midguard New Member

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    Good point Carver. And dont forget the "Community Reinvestment act" which made homeownership available to people who could not have otherwise been approved for mortgages.
  16. 45Auto

    45Auto Active Member

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    Good point. And the folks who want to keep doing things like this are so good at distracting us from their activities.
  17. Bobitis

    Bobitis Guest

    There is also 'well intentioned' debt.

    It's a noble concept at best. Freddie and Fannie and their leaders/supporters, played a HUGE role in our current economic crisis.

    Many decades of social engineering have brought us where we are today.

    "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness".

    We have the right to persue happiness. We don't have the right to expect it.
  18. 45Auto

    45Auto Active Member

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    "good debt"... "bad debt"... and now... "well intentioned debt?" Clever spin!
  19. hogger129

    hogger129 Active Member

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    "Good debt, bad debt..."

    Choosing between the lesser of two evils is still choosing evil.

    One is just as bad as the other. Difference is they spend the money on different things.
  20. Bobitis

    Bobitis Guest

    But, but, but...

    It was for a good cause.:rolleyes:
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