Comments on: An optimist’s view of the White House Fri, 05 Dec 2014 14:27:05 +0000 hourly 1 By: MoBioph Tue, 12 Nov 2013 04:13:20 +0000 stambo2001:

You want more pipelines between Canada and the US so the US can export oil to Canada, is that it? Because, as I’m sure you’re aware, the US has now surpassed Saudi Arabia as the world’s biggest oil producer, and US production is still rising. (That this is not all good news can be gleaned from my first comment. I wouldn’t welcome depending on fossil fuels to do anything but get us to better energy sources ASAP. I’d even prefer nuclear over oil and coal, despite Fukushima. Thorium reactors would be especially preferable.)

Check the US federal debt held by the public as a percentage of GDP from 1940 to 2012, and you’ll see it peaked at about 110% of GDP in 1946, and was, as reported at the CIA Factbook, 72.5% of GDP in 2012. The US did pretty darn well after 1946, too.

Here are some more data for public debt (% of GDP, CIA World Factbook), along with CPI (% annual inflation, WSJ/Heritage Foundation) data, among nations in 2012:


Would you find the standard of living acceptable in the country with the lowest public debt? How about the country with the highest public debt?

PS – Thanks, tmc. It seems to me that we foreshadow a grim future if we only cast the present in a negative light.

By: tmc Mon, 11 Nov 2013 22:37:15 +0000 @OnTheGround, you are spot on. The republicans had the house, senate, and presidency during the 107th, 108th & 109th congresses. That’s six years they had control and yet did nothing. Neither party intends to. They just spew rhetoric to keep the population quite.

By: OnTheGround Mon, 11 Nov 2013 16:19:50 +0000 This article provides some balance of opinion compared to the usual push and pull of ranting politics. Here are some financial questions.
How did the national debt increase from 1980 to 2008?
When former New Mexico Governor Gary Johnson was telling the truth about this, he basically had to leave the Republican party.
Here it is: In the twelve years of the Reagan/Bush administrations, the national debt quadrupled. The Bush/Cheney administration inherited a balanced budget from the Clinton administration – the first years of a federal balanced budget since the Eisenhower administration in 1958. In the eight years of the Bush/Cheney administration, they doubled the national debt and catapulted the nation and the world into financial crisis. The Obama administration has had to mop up.
Here is another question, what is the first year since 1980 that income tax on the top tax bracket has gone up?
That would be 2013 – this year. In the early 1980s, this tax rate was 70%. Both Republican and Democrat administration consistently lowered this tax rate to what it is today.
What has been the result of lowering this tax rate? This has been the biggest “peacetime” transfer of wealth to the top in the history of the country. Many ordinary people have suffered because of this, and the shrinking of the middle class is one direct result.
Here is the last question. How much did President Hoover raise the top tax bracket rate when the Great Depression hit? He raised the top tax bracket from 25% to 63%.
Go figure.

By: sarkozyrocks Mon, 11 Nov 2013 15:03:53 +0000 Let’s quote James Carville…shall we…Can there be any more partisan Democrat?? “We can admit that there’s some real, deep, fundamental problems with this president.”.

Call Carville what you wish, but he’s not a stupid man, and won’t throw himself under the bus to defend the indefensible. Defending the indefensible destroys journalistic credibility faster than a New York minute.

By: tmc Mon, 11 Nov 2013 13:31:27 +0000 @stambo2001 is basically right. This administration has not really shined as we had hoped it would. But @MoBioph’s first post is far more important in the long run. There is hope for the world. Yes, the USCA is in decline and probably should be, but Asia is on the rise and seems quite capable of leading humanity to new heights in the 21st century.

By: stambo2001 Mon, 11 Nov 2013 12:31:10 +0000 #’s 1 and 3 are tied together. Printing $85 Billion a month is NOT a recovery. It’s a giant rug they’re using to try and hide the truth.
#2. move beyond 9/11 into full police state complete with secret courts, secret evidence, extrajudicial assassination of citizens, and draconian civil surveillance that would make the Gestapo blush.
4. Forcing Irans hand? This doesn’t even exist, the latest talks were a complete and utter failure.
5. Pivot to Asia? Oh, you mean when Obama cancelled his personal appearances and sent underlings instead? He got called for traveling.
6. Middle ground on energy? Paying money to failed solar firms owned by democratic doners? Blocking the pipeline?
7. Reduced deficit? But astronomical debt accumulated, the likes never before seen in history.
8. Frank-Dodd? Really? Protecting the bankers for crashing the economy?

And this was supposed to be an optimists view.

By: MoBioph Sun, 10 Nov 2013 03:24:44 +0000 According to the OMB, from 2009 to 2013, as a percent of GDP, the annual deficit figures are:

Year__% of GDP

That the 2013 deficit is substantially less than half the 2009 deficit by this measure is due partly to GDP growth, which must’ve been revised upward quite a bit if your $901 trillion figure is accounting for just 4.1% of GDP in 2013, bertibus.

And I hadn’t heard that the Hoover Institute had started cranking out “progressives,” cab717. When did that change? Before or after the GOP became the Party of Andrew Jackson, in response to which, the Democrats became the Party of Romney – George, that is? (Except for Mitt’s RomneyCare.)

By: frtillman Sat, 09 Nov 2013 12:39:16 +0000 WTF have you been smoking!!!!!!

I look to Reuters for 1 of my “go go” news feeds, Ian Bremmer you have to be one of the most naive persons I have ever heard of.

By: cab717 Sat, 09 Nov 2013 11:54:23 +0000 Another pathetic attempt by progressives to salvage what will turn out to be 8 years of wasted time. You can put a positive spin on anything I guess.

Notably, Obamacare was left out of the list, which is supposed to be Obama’s signature achievement and prospective legacy, around which we’ve experienced eight years of political polarization and an American public that consistently polls that it doesn’t approve of it. And now with its implementation, Americans are finding out that it’s neither what they thought it was nor what they were promised. As each layer is rolled out, Americans will see this is the stink bomb that keeps on giving.

Most promising Democratic administration since JFK? Obama walks around saying he was unaware of this, didn’t know about that, is outraged about bad outcomes (website, Benghazi, IRS, AP, Syria, etc.) while being completely disingenuous about the impact of Obamacare (you can keep your plan, your doctor, your premiums go down) and dodging responsibility. He’s one of the most divisive presidents in recent history with an astounding record of non-leadership, a joke abroad and a lame duck at home.

To go over the items you enumerate above would be a waste of time since all you are trying to do is “put lipstick on a pig.” You only need to list one achievement: a government takeover of 1/6 of the US economy that if not eventually repealed will lead to Universal, single-payer government health care, which is what Obama and his leftist allies wanted all along. In Obama’s mind he’s done; mission accomplished: all the rest is details and damage control.

JFK is rolling over in his grave.

By: bertibus Sat, 09 Nov 2013 11:00:10 +0000 “Don’t look now, but the deficit is vastly decreased from the levels that Obama inherited when he took office.”
How can you print this blatant lie?
A cursory search shows the following:
2013 – $901 trillion budget deficit (projected)
2012 – $1.1 trillion budget deficit
2011 – $1.3 trillion budget deficit
2010 – $1.3 trillion budget deficit
2009 – $1.4 trillion budget deficit
2008 – $455 billion budget deficit