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Date Posted: 11:32:14 08/08/10 Sun
Author: Jeffman
Subject: Re: Indiana has been bucking the national trend for three months.
In reply to: Shirley 's message, "Re: Indiana has been bucking the national trend for three months." on 16:27:41 08/06/10 Fri

I did feel the same way... I thought the Drug bill was a mistake... The Iraqi war was a mistake to start but once we had destroyed what was there we had to stay. The tax cuts didnt 'cost' anything at the time because we were running surplus's and govts shouldnt run surplus. I dont think either part should spend like they have for the last 20 years. I dont care which part calls for sanity up there. Someone has to stop and say... ANY new spending must be paid for by a cut somewhere else. Otherwise we end up like Greece or Portugal or other countries that have found themselves spent to the point of destruction.

What Reagan and Cheney talked about is something we now call MMT (Modern Monetary Theory). I think parts of it are right but even within MMT deficits do matter because you can flood the market with too much cash which devalues the dollars an causes inflation. The debt at some point is a burden on our economy. Even with MMT during times of plenty the govt is supposed to pay down debt so that during recessions they can loosen the pursestrings. We have just continued to keep the pursestrings open and that is unsustainable.

>Did you feel the same way when Republicans passed the
>Drug Prescription Bill? How about the Bush tax cuts?
>How about the Iraqi War? The Drug bill was the
>biggest unfunded expenditure since the '60s. Look
>what the tax cuts cost. Why is it that one party is
>expected to exercise pay/go but not the other?
>
>Remember, Reagan and Cheney said deficits don't matter.

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