Ron Paul says deficit can be cured by 2015

http://paul.house.gov/index.php?opt...-a-cut&catid=62:texas-straight-talk&Itemid=69

Just stop the increased spending and/or reduce levels back just a few years. Why won't the cons do this??? We know the dems won't.

 

Because they love big government too. See that is why the cons increased defence spending by $50 billion. The pentagon has no audit so money is easily "lost". They are all a bunch of crooks.

 

his views seem to make sense - i dont see how someone so practical could win office though when others are much better actors / pure politicians

this politics game isnt about whats doing right, its about convincing people about whats right and then doing whatever you feel like

score one for pres obama

 

Compromise.

 

The politics game is about scoring campaign donations and then paying back those donations.

 

Because anyone thinks its this easy is either lying to apease people or doesnt have any clue.

You can inflate the bubble, you cant undo the recession. You cant go back to a couple of years ago and pretend nothing happened, its not that easy. Anyone trying to say it you dont want anything to do with the gouvernement.

 

“The Congressional Budget Office (CBO) projects that in the absence of new legislation, budget surpluses would be sufficient by 2006 to pay off all of the federal debt available for redemption. What would happen to the budget after that? If current laws that control revenues and outlays remained unchanged, the government would begin to accumulate a stock of nonfederal assets (such as stocks and bonds), which could grow to almost $3.2 trillion by 2011.”

http://www.cbo.gov/doc.cfm?index=2731&type=0&sequence=2

 

Date of the above
February 2001

Amazing they would make such a prediction with revenues already slowing including several months of negative revenues just previous the publication of their statement. And of course the economy went into recession the very next month, without any legislative changes.

Thankfully Bush did the right thing and turned the economy around and by 2007 had had 3 years of declining deficits, down to $161 Billion.

Then the Democrats took over and look where we are now.

 

That really won't solve the deficit, just shift it to states and local governments. See Paul Ryan's plan for more details, ie increased deficit of $7 trillion by 2020.

 

In that case liberals have nothing to fear and should stand aside and let conservatives balance the budget.

Then the federal government would be fiscally sound.

What's not to like about that?

 

I am not the biggest W. Bush fan, but he actually had the deficit receding. Had we just not done the HUGE omnibus garbage, TARP, etc... we would be fine. Germany rejected the big government spending plan and they did great. Obama rejected history and sound economics and went for the liberal dream of big government and spending and now we are in a really bad position.

 

Your numbers are incorrect:

Debt
9/30/2010 13,561,623,030,891.70
9/30/2009 11,909,829,003,511.70
9/30/2008 10,024,724,896,912.40
9/30/2007 9,007,653,372,262.48
9/30/2006 8,506,973,899,215.23
9/30/2005 7,932,709,661,723.50
9/30/2004 7,379,052,696,330.32
9/30/2003 6,783,231,062,743.62
9/30/2002 6,228,235,965,597.16
9/30/2001 5,807,463,412,200.06
9/30/2000 5,674,178,209,886.86


Deficit
9/30/2010 1,651,794,027,380.00
9/30/2009 1,885,104,106,599.30
9/30/2008 1,017,071,524,649.92
9/30/2007 500,679,473,047.25
9/30/2006 574,264,237,491.73
9/30/2005 553,656,965,393.18
9/30/2004 595,821,633,586.70
9/30/2003 554,995,097,146.46
9/30/2002 420,772,553,397.10
9/30/2001

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

 

1st off, why do we need a balanced budget? You don't even run on a balanced budget if you borrow to buy a house or car or any other purchase. Why should the gov't not be able to borrow if the price is right?

Having to balance the budget every year would fiscally hurt.

 

No, you just spend half your income paying interest on the money you owe.

Which is what we have to worry about the most with our growing national debt.

Someday we may not be able to afford a fire department because the entire federal budget goes to Social Security, Medicare, Medicaid and interest on the debt.

You can max out all your credit in your personal life and declare bankruptcy every 7 years if they'l let you but I don't want my country run that way.

 

If you borrow that much to pay 1/2 your income to interest than you are the idiot. The gov't isn't paying 1/2 of its income in interest. That would mean 1.1T dollars to interest.
Interest rates are cheap right now.
How convenient you didn't mention military spending as part of gov't payouts. Hmmm.

SS is/has been paid by every working person. If the gov't borrowed from it, that is a different issue. But SS is stand alone and to some exten Medicare and medicaid as well. Those are payroll taxes everyone pays regardless on income. Except the high income earners stop paying after a point.

 

Lol, so the Bush Admin and its rubber-stamp Congress raised the debt, increased the deficit, locked us into 2 long-term wars, devalued the US dollar to historic lows and sit around wathcing as the subprime crisis blossomed into an economic mushroom cloud... and you're thanking them?

Still recovering from the Great Republican Recession, a recovery which the Republicans are desperate to block and have been working feverishly to ensure that nothing of substance makes its way out of Congress.

 

At least not yet.

Obama will spend ONLY $400 to $500 billion on interest in 2011 out of a $3.6 trillion budget.

But thanks to Obama and the Democrats the national debt will double in 20 years at current rates and we have historically low interest rates at the moment.

Unfortunately for the borrow and spend libs that won't last forever and spending half our budget on interest is not that far away.

 

Why not freeze state and local expenses?

 

Borrowing for a house or car is acceptable, I guess, but you don't borrow to pay the light bill. A balanced budget is receivables covering short term liabilities as well as expenses related to long term liabilities. Having 40% of your expenses covered by credit will soon enough build into unserviceable debt obligations.

 

Here is what the Bush administration and it's "rubber stamp" congress did:


Total debt ceiling increases under Bush and Republican Congress (6 years): $3.4 trillion

While this is certainly not excusable, the following below is just insanity!!!

Total debt ceiling increases under Bush and Democrat Congress (2 years): $2.35 trillion

Total debt ceiling increases under Obama and Democrat Congress (1 year): $3. trillion

Now, the party of ZERO comprimise and ZERO ideas, the Democrat party made it clear by not wanting any real spending cuts, and adding now $2.4 trillion more to the debt...Democrats want to continue wreckless irresponsible spending.

In conclusion, with the House, Senate and Presidency, when Democrats have controlled 2 out of the 3, Democrats have caused our debt ceiling to raise $7.75 trillion in less than 5 years. Compare that to $3.4 trillion by 6 years of Republican control of the House, Senate and Presidency. Just think, it only took a "rubber stamp" Congress for Obama in ONE YEAR to come within $400 billion of matching 6 years of Bush's "rubber stamp" congress in debt ceiling raises. How about that rubber stamp thing!!!

 

This just illustrates that the govt is GROWING beyond our means to fund it.
Entitlements are a big part of the problem too - the govt spent the SS money and now we have to pay this huge obligation from daily tax intake.

 

If we win enough Senate seats in the 2012 elections we will. This will make 1994 look like a bunch of RINO's. Why do you think Ron Paul isn't running for his House seat this time? He's satisfied that even if he isn't president that the new generation will carry the torch.

edit:

Well I may have had bad information. I tried to look up who was running for his seat and it looks like he's running after all.

Second edit:
He announced he wasn't running, but he still has a committee to re-elect:

http://dailycaller.com/2011/07/12/r...election-to-congress-will-aim-for-presidency/

http://ronpaulforcongress.com/html/candidate.html

 

Because the majority of our politicians don't understand the problem?

Then years ago, we were spending half as much and had a surplus.

 

The conservatives have not balanced the budget even when they controlled both houses of Congress and the White House. They really never solved the deficit even when Reagan was President and had the Senate. So, what makes you think it will happen now?

Besides, conservatives really do not want to solve the root causes of the budget, just the symptoms.

 

There was never a surplus under Clinton since the debt kept rising.