[Rhodes22-list] Economics - More Good News

[stan]

Brad, like you I am always on the run but had to respond - we are told by 
the artists that inflation is low -
that is the real  BS - it is not - believe someone who is in the real world.

ss

----- Original Message ----- 
From: "Brad Haslett" <flybrad at gmail.com>
To: "The Rhodes 22 mail list" <rhodes22-list at rhodes22.org>
Sent: Monday, July 16, 2007 6:21 AM
Subject: Re: [Rhodes22-list] Economics - More Good News


> Stan,
>
> Here is one of the simplest explanations of deficit vs debt on the net.
>
> http://www.citizenjoe.org/node/270
>
> Looking at raw numbers unadjusted for inflation is meaningless.  Trying to
> pin down which Presidential administration was responsible for what is
> difficult since you have to look at the make-up and actions of the 
> Congress
> in power at the same time.  Anyone can cherry-pick the data and spin their
> own BS.  The meaningful number is debt as a percentage of GNP.  Ours is 
> now
> around 65%, high for us but in line with Germany and France and well below
> Japan.  Where things get scary is looking down the road.  The annual 
> budget
> is composed of two parts, mandatory spending and discretionary spending.
> Fighting a war, rebuilding from Katrina, etc. is discretionary spending.
> Mandatory spending is long term social programs like medicare and social
> security.  Those of us like myself, small government conservatives, cringe
> when the folks we send to DC increase mandatory spending (think Bush 43's
> enhancements to medicare) knowing that these obligations are headed for a
> demographic peak down the road.  We don't like fighting expensive wars
> anymore than anyone else.  That's why I think we should declare victory on
> the "war on poverty" and move on. Solving the discretionary spending issue
> is incredibly simple.  Give the President line item veto authority and
> establish term limits for Congress.
>
> Dave,
>
> The prime result of 'printing' money is inflation.  Inflation is low. 
> Show
> me the money!
>
> Brad
>
>
> On 7/15/07, DCLewis1 at aol.com <DCLewis1 at aol.com> wrote:
>>
>>
>> Stan,
>>
>> I'm sure your daughter knows this stuff better than any of  us, but
>>
>> National debt/deficit - synonyms;  see
>> _http://www.investorwords.com/3201/National_Deficit.html_ (
>> http://www.investorwords.com/3201/National_Deficit.html)
>> although I've seen some literature that would make me think the deficit 
>> is
>> the difference between revenue and expenditures, and debt is the portion
>> of
>> that  deficit that's made up by borrowing - another portion of the 
>> deficit
>> can be
>> made  up, for example, by just printing $.
>>
>> Comparison figures for the same years for the national debt and deficit: 
>> I
>> think Brad posted the PROJECTED INCREASE to the national debt, not the
>> national debt.  The national debt is many trillions of dollars.
>> Additionally, I
>> don't think his numbers represent intergovernmental borrowing  (i.e.
>> borrowing
>> from the Soc Sec funds) which are substantial for each  year. For
>> quantitative
>> chronological info re the national debt  see:
>>
>> _http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm_
>> (
>> http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm
>> )
>>
>> Dave
>>
>>
>>
>> ************************************** Get a sneak peak of the all-new 
>> AOL
>> at
>> http://discover.aol.com/memed/aolcom30tour
>> __________________________________________________
>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>>
> __________________________________________________
> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list