Comments on: Larry Summers is playing economic Jeopardy http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: TobyONottoby http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/#comment-43254 Tue, 01 May 2012 00:06:18 +0000 http://blogs.reuters.com/great-debate/?p=12604#comment-43254 rgrelb –

““The independent Congressional Budget Office confirms that it would stabilize the debt as a share of the economy – thus returning us to a tenable fiscal path. … ”
The rebuttal to Toby’s remarks was already in Hubbard’s comments.

“Yes, temporarily, debt to GDP stabilizes, using its own assumptions. The CBO does not say it works beyond 10 years. Given the increase in retirees, after that point, debt to GDP quickly passes 100% under the Obama Budget.”

The rebuttal to rgrelb remarks was already in remarks was already in my quote of the Summers article cited by Hubbard.

Regarding HOW “a tenable fiscal path” would unfold: “It would do that while allowing increased investments in education, research and infrastructure that are critical to stronger, shared economic growth in the years to come. By focusing on building a strong economy for the future, it expands the tax base and reduces pressures for future tax increases.”

Since we have to go sentence by sentence, I’ll repeat the crucial second sentence in advance: “By focusing on building a strong economy for the future, it expands the tax base and reduces pressures for future tax increases.”

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By: elemming http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/#comment-43247 Mon, 30 Apr 2012 02:21:29 +0000 http://blogs.reuters.com/great-debate/?p=12604#comment-43247 The Ryan and Romney tax and budget plans are a bad joke with balance achieved by future unspecified means. The Ryan plan in particular calls for future unspecified tax increases by closing loopholes, this from a person and a party that has pledged not to increase taxes.

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By: kavailer http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/#comment-43244 Mon, 30 Apr 2012 00:04:21 +0000 http://blogs.reuters.com/great-debate/?p=12604#comment-43244 Dear All,
I came to this great country during the Reagan years when America was prosperous in jobs and in leading the World in all fronts. We had a great Actor & great President. Mr Reagan was and still is the best President America had in my lifetime.
Now we have a Buffon in Chief, please spare by saying that I prejudice, I am a minority as well. I like to say that Mr Obama is great speaker, like Cicero during the Roman Empire he liked his Presidency, a great smile and people like him.
The easiest way to pay our debt is as follows,
All Senators and Politician must reduce their flying times by half for this year, this goes for the President and the First lady with her Entourage, the VP and the Speaker of the house.

Politicians, millionaires should not get free flights, If you are Senator you are here to serve your constituents, and the American people, not the American people serving you.

Congress and Senators pay Frozen until 1) pass a Budget, 2) reduce our Debt.
FIRE ALL THE GSA, certainly they have squandered tax money, fire any politician that stands for the GSA too.
Simplify our Tax laws; reduce the red tape, and CREATE REAL JOBS. Not $7 PT JOB
GET Rid of the IRS .
Executives in the EPA are against Oil companies, truth came out, some of workers are good people others simply want have personal agenda.
GET RID OF CZARS all of them are sucking blood for our system of government.

Lastly but not least, it’s tough what I have to say, but we need to stop Printing money, and stop patronizing to Social groups
For all the illegal’s, I say get out now, and come here legally I did it so can you.
Lastly get rid of Reid, Pelosi, and some other old timers, they should be FIRED!

If a Congresmen/ Senator does not show up for the section, reprimanded him, deduct his pay, and after three strikes suspend him without pay. Let’s get some homework done.
Lastly I would love to run as Politician not for money or Power .I want to see American back the way I came in and found it 28 years ago, it think its just a Dream. Like Dr Martin Luther King, I also have a dream to see our country to be the best in the World. No matter if you are white Black or other skin color. We are all GOD’s Creation. We have too much laws, and regulations. The Roman Empire lasted 427 years, let’s work together so America will not fall apart, otherwise we end up like the Roman Empire.

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By: rgrelb http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/#comment-43243 Sun, 29 Apr 2012 22:10:16 +0000 http://blogs.reuters.com/great-debate/?p=12604#comment-43243 TobyONotToby:
“Dean Hubbard: The rebuttals to your arguments were already present in the article you cite. See, for example, this paragraph:
“The independent Congressional Budget Office confirms that it would stabilize the debt as a share of the economy – thus returning us to a tenable fiscal path. … ”
The rebuttal to Toby’s remarks was already in Hubbard’s comments.

Yes, temporarily, debt to GDP stabilizes, using its own assumptions. The CBO does not say it works beyond 10 years. Given the increase in retirees, after that point, debt to GDP quickly passes 100% under the Obama Budget.

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By: etakacs http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/#comment-43241 Sun, 29 Apr 2012 21:47:23 +0000 http://blogs.reuters.com/great-debate/?p=12604#comment-43241 The bottom line is, Mr Obama and Larry Summers have never held a job in economy, other than those supported and funded by government largesse. While Mr Mavros makes a comment regarding Romney’s mental qualifications-he made it in the private sector. Mr Obama and Mr Summers have been of the leech variety. You cannot borrow your way to prosperity, it is idiotic to think you can.

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By: Edward65 http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/#comment-43240 Sun, 29 Apr 2012 17:24:06 +0000 http://blogs.reuters.com/great-debate/?p=12604#comment-43240 Response to GMavros ,,,,,, You are completely wrong about what you believe about President Obama. He may have been duly elected, but he received enormous sums of money from Wall Street. Wall Street feasted and feted Obama and McCain was left the crumbs. Romney may have come from Wall Street, and yes he is getting a lot of financial support therefrom, but so is Obama.

Billionaire hedge fund managers, Warren Buffett, a majority of Goldman Sachs partners: All in Obama’s camp. Please do your research before making such careless remarks.

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By: Progdef http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/#comment-43238 Sun, 29 Apr 2012 16:59:28 +0000 http://blogs.reuters.com/great-debate/?p=12604#comment-43238 Please keep up the good fight Dr. Hubbard.

What an on-going smash and grab job this is:

“It would do that while allowing increased investments in education, research and infrastructure that are critical to stronger, shared economic growth in the years to come.”

Democrats will divert productive investments to their “investments” in education (wasted civil service union slush), research (crazy loans and grants to companies that have quasi-bribed Democrats via on-going kickbacks in teh form of campaign contributions), and infrastructure (again largely wasted on SEIU slush).

Warren Buffett and the private sector invests in companies like GEICO creating jobs and growth and perhaps the best incentive toward students actually getting an education, opportunity to propser afterwards. Democrats invest in ever marginally accelerating waste.

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By: johnwerneken http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/#comment-43237 Sun, 29 Apr 2012 16:37:13 +0000 http://blogs.reuters.com/great-debate/?p=12604#comment-43237 It’s just values not math. Forget the math. There are two ways to look at a man or a community. My way, each has a chance and may well end up miserable; the community almost certainly will prosper but rather unevenly. In the other, each man has a reasonable prospect of a good life, and society may well advance, but more slowly and more evenly. I unambiguously favor view one.

Face it that is what it comes down to. Make your choice, do the human thing and find the allegedly relevant (NOT) allegedly factual (immaterial whether true or not) arguments later.

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By: JTinTokyo http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/#comment-43236 Sun, 29 Apr 2012 16:26:42 +0000 http://blogs.reuters.com/great-debate/?p=12604#comment-43236 GMavros,

With all due respect, you attempt to rewrite history. Barack Obama was elected in 2008 with a majority of support from investment bankers. Obama selected one of Wall Street’s favorites, Tim Geithner, to be Treasury Secretary. Geithner has served the interests of the investment bankers well and he will head off to a lucrative position in Goldman Sachs after the elections. In fact, Obama has done little to rein in the investment banks and there is little evidence he will do so during a second term. Obama is, frankly, no FDR. I have little hope that Romney will rein in the banks but I have no hope that Obama will do so if he is reelected.

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By: alanguil http://blogs.reuters.com/great-debate/2012/04/27/larry-summers-is-playing-economic-jeopardy/#comment-43235 Sun, 29 Apr 2012 15:32:23 +0000 http://blogs.reuters.com/great-debate/?p=12604#comment-43235 You in academia don’t seem to understand the real world. The declining number of business owners are reacting to taxes and Obamacare. When Maryland raised taxes on the “rich”, it ended up with less revenue. California is experiencing the same thing, declining revenue. The same thing is happening with Obamacare. Companies are refusing to hire because of the cost of Obamacare. And because of demographics, the number of small business owners is declining. The “rich” are making sure to keep their income low. I am not “rich”, but I will stop hiring to make sure that I don’t enter the “rich” category. This is the real world. Focus on creating jobs, not getting even.

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