Fox News Sunday discussion of American debt

[ExquisiteDoom]

He doesn't talk about how you cannot keep it loose forever before the bonds bubble up and burst. He doesn't mention how the fed is buying up the US government's bonds! He doesn't even get into what is important. Those 2 trillions WILL be monetised, or we will collapse, simple as that. but if we do monetise it inflation will go out of hand. Let's see how China and japan enjoys losing their obligations price to inflation.

[klim8hokes]

Obama didn't "inherit" anything in the sense he willingly took on the roll of POTUS. If he didn't like it, he could have walked away. He sure likes having a scape goat.

I forget, how was the economy the first 6 years of Bush before the Dems took control? I'm no fan of Bush when it comes to economic policy of growing government but it's easy to forget that Bush didn't write law, he stupidly signed what the democratic congress put before him.

It's YOUR economy Obama. Man up.

[jrs89]

It's our economy. Start offering some solutions.

[klim8hokes]

Start offering solutions? As if Tim Geitner and Obama are reading this?

Let me think...Ok, here's a solution:

Cut my TAXES!!!  If I have more of my money, I can invest it in my company, purchase more equipment, hire people to run it, they can use their shiny new pay checks to buy stuff , creating demand for goods to be produced. Repeat.

Do you know how fast this Economy would have jump started if the Govt suspended all income taxes for 6 months? Imagine how much money would have been spent.

[jrs89]

Do you wonder if people would just save the cut and squash its multiplier effect?

[churrs]

do you even know how you are afforded public services that you take for granted - TAXES. Being a citizen of a country is a fucking privilege

[heracleus666]

Is this for real? all caused by BOOOOOSH? BHAHAHAHA dont make me cough up a lung. You are a LIAR, sir. Manchurian candidates favorite sophist

[irisojects]

Goolsbee is joking isn't he? Or does he think the American people are that dumb. Well if he is that DUMB I am going to call up and get his card card number so I can go shopping on his dime. Because he thinks this is all going to work out on our dime.Thats about all we will have left if we continue to follow Obama. I am being optimistic about having a dime left.

[AirborneIdentity]

I think it is historical revisionism, like Holocaust denial, to blame the economic crisis on President Obama.

[aeuiono]

I think it is historical revisionism, like Holocaust denial, to claim the economic crisis occurred all 8 years of President Bush's presidency.

Democrats caused the crisis when they took power in 2006 by expanding liberal subprime programs and turning a blind-eye to Fannie and Freddie.

I think it is cowardice to blame Obama's destruction of the economy on Bush. And it is historical revisionism to blame Republicans, bc only Dems supported Bush's interventionism.

[jrs89]

The expansion of subprime programs date back to the late 90s. Fannie and Fredie aren't the cause. In the late 90s there was much debate over the regulation of the derivatives market . Greenspan and others had war with congress over whether to regulate it or not. It's not republicans and it's not democrats, it's everyone. We were making bets on over-valued financial instruments with over-valued financial instruments. This is not a partisan issue, it's called a bubble. Housing prices were up.

[aeuiono]

A bubble is one thing, but this bubble didn't pop, it exploded like a bomb.

This recession is not a typical boom/bust. Housing prices especially skyrocketed in California, Florida, and Nevada as Freddie and Fannie began targeting subprime loans to immigrants, and progressives (yes Dem and Rep progs) pushed for destroying so called "red-lining".

[jrs89]

The bubble exploded like a bomb because when a small number of loans defaulted they were counting on a bunch of other "stable" loans to "cushion" the impact. Because these loans were so overvalued and there options were traded around like crazy that when a enough cards feel the whole house fell down. Freddie and Fannie still aren't the root. These papers were traded by high leveraged firms. It's not just the loans, but rather it's more of an issue of how they were securitized and traded.

[aeuiono]

Why are we losing more jobs at a faster rate under Obama? Obama's policies are not working. Obama is ruining the economy.

Bush did his part too (supported by Democrats, chastised by Republicans). Obama is Bush on steriods, killing our jobs, prepping us for inflation, hurting trade, spending too much, harnessing us to massive debt, and killing our prosperity.

[AirborneIdentity]

I just think it is too convenient to blame the recession on someone who had no control over it.

I believe it is historical revisionism to blame Bush's failures on Obama.

[aeuiono]

No one is blaming Obama for Bush's mistakes.

The Democratic Congress, who took control in 2006 expanded liberal programs that caused the recession.

Bush's mistakes in dealing with the recession were supported by Democrats, not Republicans.

Obama has expanded Bush's policies and made them his own. Obama is responsible for the economy getting WORSE.

[AirborneIdentity]

lolwut

[jrs89]

Regardless of the effectiveness of Obama's policy or any government intervention, the economy was forecasted for job loss to accelerate anyways. This is the results of finance and credit markets taking their toll on production and investment and the first wave of layoffs. In 2009 we've seen the result of weakened consumer spending which represents just over 2/3 of our economy. The drop in consumption has accelerated the job losses we've been experiencing lately.

[aeuiono]

The White House released a projected job-loss chart, arguing that with Stimulus we would unemployment would be around 8% in May, but with Stimulus unemployment would be at 6%. Now that Stimulus has passed (but not all spent, exactly as the WH planned) unemployment is over 9%.

What's worse is that the WH's estimates of recovery via Stimulus assumes an average 4% growth of GDP.

Obama's plan was to pour gasoline on the fire to extinguish it. Now we just have a bigger fire.

[HollywoodWags]

So, how is it that Obama can talk about the government running hte ENTIRE HEALTH CARE INDUSTRY and no one on the left seems to wonder just how in the hell that can be paid for.

These people running things are idiot infantile punks.

[nzpete1234]

So all this massive spending is actualy a spending CUT???

WOW.

[RogerOnTheRight]

Goolsbee ought to be horsewhipped.

Sure, Earth is big compared to the Moon, but if you compare it to the Sun, it's really tiny.

I meant to spend $100 trillion, so my mere $10 trillion is really a belt-tightening cut.

All hail Obama!

[pollyu2]

With the inflation that is coming, $4 gasoline will seem cheap.