A Trillion-Dollar Blunder

Townhall.com ^ | October 2, 2018 | Stephen Moore

[CodeToad]

” Even Keynes wanted a balanced budget,”

No, he did not. He said the exact opposite. You obviously don’t know Keynes.

He said government spending grew the economy and deficient spending was necessary. You cannot have government “investment” without spending more than was taken in.

Keynes was a socialist idiot that claimed the government is the only entity that creates jobs and that commercial activity was only the result of government spending.

The moron forgot that taxes are the only revenue government has and commercial activity must come before taxes can be paid.

[Theoria]

Keynes argued that surpluses should be accumulated during good years so that they could be spent to stimulate demand during bad ones. End of story.

[bert]

——You cannot have government “investment” without spending more than was taken in-—

How ever, government bonds are in effect mortgages or deeds of trust for one time appropriations made for projects with say 50 or 75 year life and several years in execution before completion.

Being able to issue bonds, the government does not need to have $30 billions cash on hand at the time of the appropriation for the purchase of fighter jets.

[PeterPrinciple]

Typical Democrat that thinks raising taxes increases revenue when raising taxes actually decreases revenue.

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There may be some issues of how much but the more important issue for me was where and how the money is spent.

Does the government spend the money where they decide or do we decided where to spend the money?

[CodeToad]

“End of story.”

You’re pretty arrogance for an ignorant person. Keynes clearly stated that deficient spending from borrowing was necessary.

You need to read a book or two.

[CodeToad]

Bonds are different kind of taxation. It borrows from the future by promising to tax others in the future to repay bonds.

I find bonds are legitimate uses of raising money, but they do contribute to higher taxation as the taxes to repay the bonds are raised but also business as usual taxes are kept at their same pace. This leads to both the BAU taxes and the bond taxes.

It would be difficult to have government live within its current revenue means. Wars, natural disasters, and other unforeseen issues means having savings but there are still unforeseen issues that need to borrow.

The solution is simply to live within our means to both pay as we go and borrow only as necessary.

When the people can vote themselves money from the treasury the nation is doomed. We are doomed. The people vote for welfare which isn’t even in the constitution.

[Theoria]

' Keynes clearly stated that deficient spending from borrowing was necessary.'

Exactly what we are doing now. What part has changed? We are borrowing because we refuse to make cuts and to live within our means. The economy will not be what it is today once we start living in a 3 trillion dollar budget instead of the 4 trill today.