Myth Of The Fiscal Conservative Busted - Con Job

Who was the last Republican president to balance the budget? Why does the GOP claim to be fiscally responsible? Cenk Uygur breaks it down.

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[oeyesea]

Lucky thing republicans don't remember very well. I suppose anybody who doesn't feel patronized by FOX "news" would believe shit like jcmartinez87 believes.

[MrMinyNuke]

slander slander slander

[jcmartinez87]

This Cenk guy doesn't know what the hell he's talking about. The budget was never balanced under the Clinton administration nor was a surplus created. The National Debt went up every year while Clinton was in office. How is that possible with surpluses? Most idiots like Cenk don't understand that the national debt is comprised of two parts: the Public Debt and Intra-Governmental Debt. The two balanced out did NOT create a surplus. Clinton only reported the numbers from the Public Debt.

[NYerintransit]

The Republican Party.

Sucking slightly less than the other team since 1854.

[baydood510]

@baydood510 (CONT) btw the glass steagall argument is a red herring. Ofcourse you need glass steagall if you give banks that much power in the first place!! u con job..

[baydood510]

@durhamdf Lol. You cant speak for them all douche and anarcho capitalist in general are not against reinstating glass steagall act.(ron voted agianst btw) besides, there was widespread fraud during the housing bubble/crisis. fraud is illegal, yet it wasn't prosecuted. if they won't prosecute wall street banks for fraud what makes you think they'll enforce these little, arbitrary regulations?You have no idea what is going on with BofA. ahaha keep watching TV and getting your figures from them

[durhamdf]

@baydood510 (contd)... and anyways, most of this crisis is due to the exact policies you anarcho capitalists have been calling for. That is the repeal of glass steagall and the passing of the CFMA under Bush that led to the creation of tiny mortgage companies that were responsible for half of the Liars Loans that went belly up in 07' & 08'. Now you cranks are suggesting we double down on those same moronic policies, that by the way led to the slowest decade of growth in 50 years!

[durhamdf]

@baydood510 B of A posted 6 billion in profits for Q3 in 2011...that is a far cry from when the free market economists of the 19th century were in charge and we had major banks failing every 20 years with full blown bank runs! Unemployment is at 8.6%, where do you get your numbers buddy,? You are trying to argue that a depression every 20 years under you laissez faire cranks was more stable than 0 depressions in the ~70 years that Keynesian economics has been mainstream? LOL! (contd)...

[baydood510]

@durhamdf It benefits them or else they would be worse with there decades of economic stagflation. There haven't been banks that gone under since the recession? Now again, Is bank of america not looking hopeless? Have the feds not bailed out trillions to commercial and central banks? unemployment is >10% and that is low balling it. The recession is NOT over, you cant be a real economist. ron paul says the debt, spending is unsustainable. Not that its over NOW? Your deceptive and unreliable.

[durhamdf]

@baydood510 Why does it matter if Japan has a strong manufacturing sector? THey still have a debt to GDP ratio that is double our own! And yes, compared to the depressions of the 19th and early 20th century under the classical economic flunkies this recession is relatively mild! We don't see bank runs, massive deflationary spirals, 30% unemployment etc! Again, the point is, ROn Paul is an alarmist moron who predicted the dollar would collapse and U.S. treasuries would become worthless. 0 for 2!