Jon Stewart rips Obama a new one on debt deal

[TremblingBluStar]

The stimulus check idea probably would have worked better if they were in the form of Best Buy gift cards. That way you HAVE to spend them on things to improve the economy.

The economy of China maybe, but not the US economy!

I think that both parties will find (assuming they already do not know) that cutting spending means Americans lose jobs. In an election season where jobs should have been the number one issue, this is not a good thing! Less spending means less money in the economy, and less demand for the goods and services that would get the private sector going.

Say what you will about government programs, at least the US government is guaranteed to hire Americans in most cases. Look at what giving billions to the banks got us!

 

[TremblingBluStar]

I spent mine on paying off my bills.

That still benefits the US economy. Money you spend on bills is money you don't have to spend later on the bills. Which means you can buy a new TV or whatever.

 

[MacLeod]

"No More Boom and Bust" or so claimed Brown when he was chancellor, the levels of spending were unsustainable, and it seems as if for all the extra millions/billons spend we saw neglegable improvement.

Yeah I didn't understand the logic of the non-means tested giveaways like the child tax credits and the kids savings accounts. That shit made no sense whatsoever. I was making £40K with no debts beyond my mortgage and we were getting £300-400/year for our kid - why? Stupid stupid stupid.

Not stupid, it's pretty smart. It gives middle class people a reason to vote Labour, they're getting stuff off them, and might help them pay for their child's maintenance while in further education, rather than the child needed the EMA or extra student loans, grants or allowances. That was never the problem. The problem was/is the PFIs.

As well as allowing the public sector to become bigger than the private sector. It's simple maths

Private sector is a net contributor to the tax pot
Public Sector is a net debitor of the tax pot.

 

[ichab]

One, make your points without the language.

Anyone can use just about whatever language they want here, so lighten up Francis.

Two, lets hear the FACTS behind your blaming the Republicans for this mess. You accuse but with lack of evidence. Give us the unedited facts and let the readers decide.

Sane people already know the Republicans (George Bush in particular) are to blame for the current financial crisis, but for those that need proof, may I suggest you Google "Everything that happened in the world between 2000-2009".

Too funny. Your side always loves to gloss over the fact that Bush tried to reform Fanny and Freddy but was blocked at every turn by democrats like Chris Dodd and Barney Frank. You're also glossing over the fact that your side took control of congress in 2006 and has controlled the white house since 2008. A very famous democrat once said 'The buck stops here" and Truman was right. If you're the president of the United States, don't whine and point fingers. Be a leader and take responsibility.

Your side lost control of the house because for all their chest beating, democrats were no different than the republicans that were sent packing. They were against raising the debt ceiling when Bush was in office, now they're all for it. They were against spending when Bush was in office, now they're all for it. Americans don't like hypocrites, no matter which side it is. If Obama keeps pointing fingers and not accepting blame, he's going to lose no matter how many different ways you guys try and spin the responsibility on someone else. Very few will buy it.

 

[Lindley]

I actually agree that the hypocrisy needs to stop all around. However, problems of the past don't negate the problems of the present. I would respect Obama if he decided to own the current troubles, but it would be a symbolic gesture; we know the real situation.

They were against raising the debt ceiling when Bush was in office, now they're all for it. They were against spending when Bush was in office, now they're all for it.

Well, when Bush was in office (up until the very end) the economy was going gangbusters. Now it isn't. Different circumstances, different needs. That's why simple positions like "we need to cut spending!" or "we need more stimulus!" are pretty useless when they aren't placed in a greater context.

 

[suarezguy]

I spent mine on paying off my bills.

That still benefits the US economy. Money you spend on bills is money you don't have to spend later on the bills. Which means you can buy a new TV or whatever.

True. I'm against state capitalism (not to be confused with regulations for safety) but it's unfair to expect a stimulus to have a massive effect immediately (though its effect also shouldn't be too small).