Under Sanders, income and jobs would soar, economist says

[Elwood Diggler]

We

We should never be running at a deficit. It puts us in the vulnerable position of having to borrow money. Our debt is already 76% of our gdp.

Growing Deficits Are Projected to Drive Up Debt

In CBO’s baseline projections (which incorporate the assumption that current laws will generally remain the same), growth in spending—particularly for Social Security, health care, and interest payments on federal debt—outpaces growth in revenues over the coming 10 years. The budget deficit increases modestly through 2018 but then starts to rise more sharply, reaching $1.4 trillion in 2026. As a percentage of GDP, the deficit remains at roughly 2.9 percent through 2018, starts to rise, and reaches 4.9 percent by the end of the 10-year projection period. The projected cumulative deficit between 2017 and 2026 is $9.4 trillion.

The projected deficits would push debt held by the public up to 86 percent of GDP by the end of the 10-year period, a little more than twice the average over the past five decades. Beyond the 10-year period, if current laws remained in place, the pressures that had contributed to rising deficits during the baseline period would accelerate and push debt up even more sharply. Three decades from now, for instance, debt held by the public is projected to equal 155 percent of GDP, a higher percentage than any previously recorded in the United States.

Such high and rising debt would have serious negative consequences for the budget and the nation:

When interest rates increased from their current levels to more typical ones, federal spending on interest payments would rise substantially.Because federal borrowing reduces total saving in the economy over time, the nation’s capital stock would ultimately be smaller than it would be if debt was smaller, and productivity and total wages would be lower.Lawmakers would have less flexibility to use tax and spending policies to respond to unexpected challenges.The likelihood of a fiscal crisis in the United States would increase. There would be a greater risk that investors would become unwilling to finance the government’s borrowing needs unless they were compensated with very high interest rates; if that happened, interest rates on federal debt would rise suddenly and sharply.

https://www.cbo.gov/publication/51129

what's the united states debt to asset ratio?

 

[NLXSK1]

simple. you have no fucking credibility

Then just stop replying to me... Simple... I have no reason to lie.

 

[Not GOP]

Sure, Bernie does great in states that are 90-95% white. Let's see how well he does in the south. I love how Democrats have super delegates to decide your vote doesn't count, and then decide the party's nominee for you. In the end, the party's establishment will choose who moves on.

 

[Elwood Diggler]

We

We should never be running at a deficit. It puts us in the vulnerable position of having to borrow money. Our debt is already 76% of our gdp.

Growing Deficits Are Projected to Drive Up Debt

In CBO’s baseline projections (which incorporate the assumption that current laws will generally remain the same), growth in spending—particularly for Social Security, health care, and interest payments on federal debt—outpaces growth in revenues over the coming 10 years. The budget deficit increases modestly through 2018 but then starts to rise more sharply, reaching $1.4 trillion in 2026. As a percentage of GDP, the deficit remains at roughly 2.9 percent through 2018, starts to rise, and reaches 4.9 percent by the end of the 10-year projection period. The projected cumulative deficit between 2017 and 2026 is $9.4 trillion.

The projected deficits would push debt held by the public up to 86 percent of GDP by the end of the 10-year period, a little more than twice the average over the past five decades. Beyond the 10-year period, if current laws remained in place, the pressures that had contributed to rising deficits during the baseline period would accelerate and push debt up even more sharply. Three decades from now, for instance, debt held by the public is projected to equal 155 percent of GDP, a higher percentage than any previously recorded in the United States.

Such high and rising debt would have serious negative consequences for the budget and the nation:

When interest rates increased from their current levels to more typical ones, federal spending on interest payments would rise substantially.Because federal borrowing reduces total saving in the economy over time, the nation’s capital stock would ultimately be smaller than it would be if debt was smaller, and productivity and total wages would be lower.Lawmakers would have less flexibility to use tax and spending policies to respond to unexpected challenges.The likelihood of a fiscal crisis in the United States would increase. There would be a greater risk that investors would become unwilling to finance the government’s borrowing needs unless they were compensated with very high interest rates; if that happened, interest rates on federal debt would rise suddenly and sharply.

https://www.cbo.gov/publication/51129

you should have lectured the shrub on this considering he spent $3 trillion (and going up) blowing up iraq uncecessarily. how much has the pentagon's portion of that debt so we can go blow up more shit?

 

[Elwood Diggler]

Then just stop replying to me... Simple... I have no reason to lie.

nah, it's more fun fucking you with logic and intelligence. it's really funny when you get frustrated and keep posting stupid shit. besides, you asked the question

 

[Elwood Diggler]

I think the insults and threats seem weighted on your side a bit more. RIU is very hostile toward conservatives.

How can the atmosphere not be tense when you are attacked immediately for being conservative.

that's because conservatives are the dumbest fucks in history. they keep fighting for a system that they don't participate in nor benefit from. have any conservative policies ever worked? anywhere?

 

[NLXSK1]

nah, it's more fun fucking you with logic and intelligence. it's really funny when you get frustrated and keep posting stupid shit. besides, you asked the question

You asked me a question, I gave you an answer and you called me a liar. There is no response to that... End of conversation. You are not fucking with anything you are being rude and ignorant.

 

[Elwood Diggler]

It is his fault the way the welfare system is structured?

Why dont you marry and support her?

"boing"

she's already married ace

 

[Elwood Diggler]

You asked me a question, I gave you an answer and you called me a liar. There is no response to that... End of conversation. You are not fucking with anything you are being rude and ignorant.

why? because i don't believe your smart enough to earn an income that would generate a tax bill of $13k? that's logic son. anyone reading your posts can come to the same conclusion

 

[6ohMax]

View attachment 3604326

hmm

 

[Elwood Diggler]

So a worker's marital status and number of dependents is a factor in pay now? More social engineering ready to fully fucking backfire... Take cover Catholics, jobs are gonna become scarce!!

how much more is the pentagon's budget vs welfare spending?

 

[Fogdog]

Jesus Christ. Is there anything that's not the Republicans fault? Democrat politicians must love you...
Voting people into office over and over again, while holding them accountable for nothing. Your Obama's wet dream. He even has you convinced OBAMAcare has nothing to do with OBAMA! It's fucking incredible! Absolutely amazing.

Well, Obamacare has nothing to do with the erosion of middle class wages. Obamacare is in part a response to people getting laid off and otherwise losing healthcare benefits through employers. Erosion of middle class wages very much has its roots in GOP union busting, beginning with Reagan's assault on unions through Wisconsins' right to work law.

 

[2ANONYMOUS]

Imo the minimum wage should be a living wage depending on your location that's tied to inflation

Yeah but when your inflation is out of wake , people got to realize they cannot have the best of both worlds i mean if for instance milk , gas bread went up to what average person pays around the world i think people in USA would be really fucking freaking out

 

[Elwood Diggler]

If everyone in the company of 100 was making minimum wage you just increased the costs to the business by $600,000 per year before matching taxes... I am sure that no business owner is going to care... Especially if the business is making like $200,000 in profits... You know, they will just suck it up an continue to operate at a $400,000 loss due to the newfound compassion of those evil business owners. You know, cause raising costs causes love.... Or something...

yeah......you ran a factory and now are paying $13k in taxes lolol

 

[NLXSK1]

yeah......you ran a factory and now are paying $13k in taxes lolol

I have done lots of things in my life. You come across like you are 15.

If we cannot at least have the mutual respect of accepting personal statements then I have no use for you because you are acting 15 and conversation is pointless.

Your call where you want it to go from here.

 

[NLXSK1]

Yeah but when your inflation is out of wake , people got to realize they cannot have the best of both worlds i mean if for instance milk , gas bread went up to what average person pays around the world i think people in USA would be really fucking freaking out

So it would be good if everyone was equally miserable?

Thanks to our government our standard of living is dropping at least 2% per year if they get what they want by manipulating the markets and overprinting money causing inflation.... It destroys savings and is not a natural condition of the economy but it serves to lower the debt service and so the government does it even though it is really hard on the elderly and poor... So much compassion....

 

[2ANONYMOUS]

n the U.S. we cannot keep living like we have twice the income that we really have. Just trying to throw more money at the problem like our government has been doing will just make matters worse in the long run because this nation cannot afford to take on more debt. Passing the costs to some future generation is simply not possible. No future generation can possibly pay our huge rapidly increasing debt and soon nobody will be stupid enough to continue to finance our increasingly risky debt at the abnormally low interest rates that came about by illegal actions of the Federal Reserve. The Federal Reserve Bank created 4 trillions dollars to buy most of our new recent national debt and mortgage debt with money that they created and that nobody will buy in the future. It is a Ponzi scheme. Our national debt will double in just the time Obama was in office.

The more there is a risk of a default or of a currency devaluation Interest rates are going to rise. We may be able to pay $20 trillion dollars of debt at 3 percent interest with some pain but at 6 percent interest or above for any extended period of time it will cause total economic collapse.

There is no easy answer to the world debt problem because many people and nations have been living beyond their means for many decades. They have been amassing debt and entitlements that cannot be sustained and with their aging populations there is no next generation being rasied that will have the numbers or the ability to pay the bills. So now the chickens are coming home to roost. The credit line of many nations are maxed out and the young cannot support the entitlements that the old were promised.

If the spending beyond our means for decades has not been enough, many people in banks are still gambling with your investments. They take your money and use it as security to leverage investments worth thirty to a hundred times that amount. In 2008 some bubbles burst and many that were gambling lost. Some financial institutions got bailed but most did not learn their lesson. It is even worse today then it was in 2008. The world banksters are still gambling with savers money.

Some big corporations and financial institutions could not pay their debts because of the severe downturn in 2008. So they either went bankrupt or were declared too-big-to-fail by our government and the government bailed them out by American's taking on more future debt.

Things got so bad that since 2008 most banks will not lend anymore on commercial ventures, instead they are either still gambling on markets or they are sitting on their money. Nobody wants to lend for economic development because they are afraid that they will never get paid back. Many others businesses that could expand will not because they are afraid of higher costs in the future through government taxation and regulation. That is one reason people are dropping out of the workforce. There are less businesses in America in 2015 than there were before the 2008 crash.

 

[Elwood Diggler]

I have done lots of things in my life. You come across like you are 15.

If we cannot at least have the mutual respect of accepting personal statements then I have no use for you because you are acting 15 and conversation is pointless.

Your call where you want it to go from here.

i wouldn't bitch too much about a so called 15 yr old making you look completely uninformed. i'm just refuting your posts which are anchored in wishful thinking or complete stupidity. the jury is out on which it is.

if you don't like my opinions, i'd counsel you to keep your backwards, inaccurate and illogical opinions to yourself. you don't have exclusive rights to post your ramblings without someone else proving them false.

you ever come up with any conservative successes yet? surely there have to be some to explain your blind loyalty

 

[Fogdog]

Yeah, when Regan cut taxes the economy took off like a rocket...

I never said the deficit is going up, I said it was massive. It was tripled and now liberals are pointing at it being lower. My point is and always has been the DEBT has grown steadily for decades. Politicians overspend every single year and nobody seems to care beyond pointing fingers.

Economists disagree whether the stimulus worked.

We are now how many more trillions of dollars in debt? Who is gonna pay that back and when?

You are so misinformed, I worry about the pools you clean.

Reagan didn't cut taxes, he "reformed" the tax code. Economists argue about the benefits of this too.

And he increased spending. Most of which went to GOP hogs at the trough. It was the beginning of the largest deficit created during good economic conditions. Before Reagan, the national debt was mostly run up by Vietnam war. After Reagan, it was run up by feeding GOP hogs like defense companies, oil companies and corrupt bankers.

Obama adroitly managed the recession. He handled it without cutting spending and by keeping interest rates low. Now that the crisis is over, the deficit is shrinking along with the very necessary debt accrued by the intelligent use of debt through the crisis. The proof is in those graphs that @Flaming Pie posted. No Republican would have managed the crisis this well.

 

[2ANONYMOUS]

Another reason for the lack of quality jobs is that the government cannot institute a policy to buy American or they risk a trade war with other nations in the global economy that are also living beyond their means. The trade war probably is coming anyway because unemployed people of nations will demand that their government do something to protect their jobs and all government can do to keep jobs at home is to allow protectionism.

That happened in the 1930's and it made a bad recession into a long world depression. That now seems to be our future and along with the deflation depression or hyperinflationary depression that is bound to come, it will allow the rise of populist demigods who will convince people that they know who is to blame and that they have all the answers. In other words, we are now repeating the same mistakes of the 30's that led to the nationalist socialistic movements and the start of World War II. It will not be different this time except the stakes for the world will be much higher.

The same mistakes in housing in the US are being made all over again. I do not think this is a good time to invest in residential real estate unless you plan to actually live in the house. The recent climb in values will probably be short lived as this country goes back into the next phase of this depression. Foreign investment speculators who think we are in recovery are once again buying real estate and driving up prices. The percent of Americans owning their own home is actually still falling and have fallen to 1990's home ownership levels. Family income in the United States and hours worked is still falling. The recovery is mostly phony and what recovery there seems to be is really built on the Federal Reserve creating more money and more government borrowing. The recovery is going to speculators in the top one percent. The rich are getting richer and the poor are getting poorer.


If I have a sure message to people who are listening, it is this - Learn to live on an income that is less than half of what you were living on in your good times. Within the decade your income will be far less and/or it will buy far less goods and services. Also prepare for big government trying to manage and run every aspect of people's lives. Certain people are going to think the only way to handle this is through forced government control and then rationing. Do not be surprised if there is civil breakdown and even Balkanization's when the people get fed up. It has already started in some nations. It is going to get much worse than most anyone imagines.