Tax cuts in 2001 haven't affect the economy (4-6 years to kick in). They will, because you have absolute faith in trickle-down economics (they don't work, they just expand the gap between the wealthy and everyone else).
Unfortuently, the tax cuts took effect right away. The major issue was they were spent on consumer items (thus keeping the sector and market afloat) and not on savings or any other items for the future....the intended effect was to continue to float the economy and create new jobs through high consumer demand....did it work, yes it did....but with every good party, there comes a hangover...(we had the clinton hangover in 2001-2003 and the bush one is coming soon) what will the government do to control spending and deficits....
Meanwhile the Republican pension plan is the real problem! Yeah right! These guys would love to be able to default on pensions. Then they let the government pick up the tab and/or the renegotiate with the unions to screw new workers.
The 2006 pension act now forces all corporations (and non-profits) to carry pension liabilities and expenses on their balance sheets versus as a carried smoothed expense below the line.....this means that companies now have to face the reality of ENSURING their beneficiaries will be taken care of and making companies put money into the plans and make them fully funded...unions spin it as if the corporations are dumping pensions, there is what is called PBGC insurance so if a company goes bankrupt, it is now managed by the insurance company...explain to me how that hurts the worker...
Oh wait, it is Clinton's fault. Man, you gotta love still being able to blame Clinton these days. He only
balanced the budget, whether it was saving 20 million here or there, I don't see how that is some huge knock... sounds like running government like a business unlike the guys who claim to run government like a business...
i never said it wasnt something to pull that off, but what is so good about spending more than you earn even if you incur more debt....sounds like neither the republicans or democrats have it right....either economic plan you look at stinks to high heaven...
My favorite part down at the bottom, its YOUR fault, the American who is living beyond your means. Yeah, you know who you are! I mean you grew up thinking you'd be like those people on MTV (a
Viacom subsidiary), but in turns out now you just got massive debt and are under-educated. But at least you got 200 dollar sneakers and a blow habit. Too bad we are going to offshore any chance for you to find a middle class job and live within your means. Sucka!
you damn right it is the americans fault. I bust my ass, have zero debt, and PAID my way through college by working 40 hours a week and only going to college 1/2 time due to the excessive bills. When there is a NEGATIVE savings rate (spend 1.06 for every 1.00 you make) you do not see that as an issue? There is NOTHING that any government can fix.
When corporations like GM are rolling cars off the assembly line at a LOSS cause $75 of the $100 cost are due to stupid union agreements that hinder corporate development and the chinese can undercut us due to their costs, you dont see that as an issue?
