Ben Bernanke, a Tea Partier?

Ben Bernanke, a Tea Partier? (Full Version)

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Sanity -> Ben Bernanke, a Tea Partier? (4/8/2010 6:32:34 AM)
Welcome to the club, Ben! [:)] quote: Federal Reserve Chairman Ben Bernanke sounds a warning on growing deficit Federal Reserve Chairman Ben S. Bernanke warned Wednesday that Americans may have to accept higher taxes or changes in cherished entitlements such as Medicare and Social Security if the nation is to avoid staggering budget deficits that threaten to choke off economic growth. "These choices are difficult, and it always seems easier to put them off -- until the day they cannot be put off anymore," Bernanke said in a speech. "But unless we as a nation demonstrate a strong commitment to fiscal responsibility, in the longer run we will have neither financial stability nor healthy economic growth." His stern lecture came as the economy is emerging from the worst recession in years, sending the stock market up considerably over the past year and raising public hopes for a return to prosperity. But the economic downturn -- with tumbling tax revenue, aggressive stimulus spending and rising safety-net payments such as unemployment insurance -- has driven already large budget deficits to their highest level relative to the economy since the end of World War II. This has fueled public concern over how long the United States can sustain its fiscal policies. http://www.washingtonpost.com/wp-dyn/content/article/2010/04/07/AR2010040703116.html

pahunkboy -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 6:40:47 AM)
higher taxes? Ouch.

Jeffff -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 6:44:29 AM)
Cut spending!

Sanity -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 7:07:18 AM)
No more politics as usual. Reduce the deficits...

mnottertail -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 7:10:41 AM)
right. where do we cut?

Sanity -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 7:18:23 AM)
Ah, excellent question, Grasshopper! quote: Bernanke did not endorse any particular approach to reducing the deficit. But he laid out the "difficult choices." "To avoid large and ultimately unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above," he said. quote: ORIGINAL: mnottertail right. where do we cut?

mnottertail -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 7:26:05 AM)
Yeah, we all know that the whale is undoubtably the largest mammal alive today, and he has said nothing heterodoxic than that. Entitlements are eating us alive, no doubt. Taxes may have to be raised. The military has got to be significantly cut, and we cant get bogged down in these bullshit, pointless, chaotic, unreasoned wars that squander our treasure. The private sector and the public sector need to take longer views of our country, and not just squeeze the biggest zit for the short term gratification at the expense of the long term vapid panderance. That same sad tired refrain is not at all new, hell, been said with different intensity forever, but never been done, and our troubles are not incubated in this administration. We've been borrowing for a long long long long fuckin time against our patrimony. Ron

brainiacsub -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 8:14:55 AM)
Thomas, are you suffering from Alzheimers or some other form of dementia or are you just retarded? Jeff and I already tried to answer this question for you 3 days ago: http://www.collarchat.com/fb.asp?m=3148183 FYI - Bernanke is not a Tea Partier. He is a pragmatist who understands that both the left and the right will have to make concessions to reduce the deficit. The Tea Partiers are right wing extremists who would never agree to tax increases, cuts in military spending, or cuts in entitlement spending for white people. Give this a rest already until you can come to the table with something more substantive than "Reduce deficits now!" quote: ORIGINAL: Sanity Ah, excellent question, Grasshopper! quote: Bernanke did not endorse any particular approach to reducing the deficit. But he laid out the "difficult choices." "To avoid large and ultimately unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above," he said. quote: ORIGINAL: mnottertail right. where do we cut?

subrob1967 -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 9:27:34 AM)
quote: ORIGINAL: mnottertail right. where do we cut? 20% across the board...Surely there's at least that much in wasteful spending.

Sanity -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 9:40:25 AM)
What about foreign aid? Theres a good place to start. Theres got to be a lot of fat out there. quote: ORIGINAL: subrob1967 quote: ORIGINAL: mnottertail right. where do we cut? 20% across the board...Surely there's at least that much in wasteful spending.

subrob1967 -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 10:16:28 AM)
quote: ORIGINAL: Sanity What about foreign aid? Theres a good place to start. Theres got to be a lot of fat out there. quote: ORIGINAL: subrob1967 quote: ORIGINAL: mnottertail right. where do we cut? 20% across the board...Surely there's at least that much in wasteful spending. I'm talking everywhere, salaries, pensions, military, subsidies, foreign aid, grants, loans, you name it. If the federal government is footing the bill, that bill needs to be cut 20%, regardless of how much short term hurt it causes.

popeye1250 -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 10:52:04 AM)
quote: ORIGINAL: Sanity What about foreign aid? Theres a good place to start. Theres got to be a lot of fat out there. quote: ORIGINAL: subrob1967 quote: ORIGINAL: mnottertail right. where do we cut? 20% across the board...Surely there's at least that much in wasteful spending. Why raise taxes? Just so the congress can spend more of our money? We need to cut or better yet eliminate many programs. Foreign aid is one of the Lobbyists favorites. They make $Billions off of it. It's rampant with corruption, $45 B last year. And we can cut the State Dept by 50%. Anyone know what their budget is? And do away with "Education" and "Energy" Depts. Tens of thousands of paper pushers that don't do anything for The People. That's just a start.

variation30 -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 11:00:10 AM)
raising taxes will not occur. it's too unpopular. 1) continue borrowing until people stop buying our crappy debt. 2) print money and wish they didn't stop releasing the M3 so you could get a good laugh as it rocketed off the charts. 3) ?????? 4) make the 1970's look like a time of unparalleled prosperity.

Sanity -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 11:11:48 AM)
Touchy this morning are we? [:D] I never agreed with your faulty premise, there is no reason for me or anyone else to have to write out a federal budget detailing where every penny should land as a prerequisite for discussing or decrying our astronomical deficits. And you obviously don't know anything about the Tea Partiers. Is it just another one of your very curious 'jokes' whenever you pretend that you do? quote: ORIGINAL: brainiacsub Thomas, are you suffering from Alzheimers or some other form of dementia or are you just retarded? Jeff and I already tried to answer this question for you 3 days ago: http://www.collarchat.com/fb.asp?m=3148183 FYI - Bernanke is not a Tea Partier. He is a pragmatist who understands that both the left and the right will have to make concessions to reduce the deficit. The Tea Partiers are right wing extremists who would never agree to tax increases, cuts in military spending, or cuts in entitlement spending for white people. Give this a rest already until you can come to the table with something more substantive than "Reduce deficits now!"

Sanity -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 11:13:44 AM)
quote: ORIGINAL: subrob1967 I'm talking everywhere, salaries, pensions, military, subsidies, foreign aid, grants, loans, you name it. If the federal government is footing the bill, that bill needs to be cut 20%, regardless of how much short term hurt it causes. quote: ORIGINAL: popeye1250 Why raise taxes? Just so the congress can spend more of our money? We need to cut or better yet eliminate many programs. Foreign aid is one of the Lobbyists favorites. They make $Billions off of it. It's rampant with corruption, $45 B last year. And we can cut the State Dept by 50%. Anyone know what their budget is? And do away with "Education" and "Energy" Depts. Tens of thousands of paper pushers that don't do anything for The People. That's just a start. Agreed. "This ain't rocket science... "

Thadius -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 11:17:58 AM)
quote: ORIGINAL: Sanity quote: ORIGINAL: subrob1967 I'm talking everywhere, salaries, pensions, military, subsidies, foreign aid, grants, loans, you name it. If the federal government is footing the bill, that bill needs to be cut 20%, regardless of how much short term hurt it causes. quote: ORIGINAL: popeye1250 Why raise taxes? Just so the congress can spend more of our money? We need to cut or better yet eliminate many programs. Foreign aid is one of the Lobbyists favorites. They make $Billions off of it. It's rampant with corruption, $45 B last year. And we can cut the State Dept by 50%. Anyone know what their budget is? And do away with "Education" and "Energy" Depts. Tens of thousands of paper pushers that don't do anything for The People. That's just a start. Agreed. "This ain't rocket science... " There is only one area where we shouldn't cut spending. Paying back the debt, if anything we need to add a couple of percentage points into that category, while cutting the rest (even 10% across the board would be a huge benefit).

popeye1250 -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 11:38:09 AM)
And all that debt we owe to China doesn't make us vulnerable, it makes China vulnerable. "Hey, we're broke, we'll give you 15 cents on the dollar or,.....nothing!

MrRodgers -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 11:43:58 AM)
quote: ORIGINAL: Sanity What about foreign aid? Theres a good place to start. Theres got to be a lot of fat out there. quote: ORIGINAL: subrob1967 quote: ORIGINAL: mnottertail right. where do we cut? 20% across the board...Surely there's at least that much in wasteful spending. Where has big Ben been ? Problem is the culture where we look at this or that by themselves wouldn't save much. So when the pentagon outright loses $300 million, and still can't account for it (and more) it doesn't even hit the news. Who cares ? Get this kinkroids..that $300 million is but approx. one tenth of one hundredth of one percent. That's 1/10 of .01 of .01 all federal spending.

DomKen -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 12:32:38 PM)
quote: ORIGINAL: Sanity What about foreign aid? Theres a good place to start. Theres got to be a lot of fat out there. Care to guess what percentage of the federal budget is foreign aid? Cutting it entirely would have effectively no effect on the deficit much less the debt. There is only one part of the discretionary budget large enough to have a significant impact on the deficit. It dwarfs the entire rest of the discretionary budget. Its budget is almost a full order of magnitude larger than the next most expensive department. For the truly clueless out there it is the Department of Defense budget and it is the only place enough savings can come out of to actually balance the budget and even that will require tax increases or restructuring a lot of contracts.

belladevine -> RE: Ben Bernanke, a Tea Partier? (4/8/2010 2:15:59 PM)
Whoops! I made a HUGE error on my earlier post. This is the video I meant to include. Let the truth be told....I am only A Human! http://www.youtube.com/watch?v=uzUozo1628U

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