News: Treasury figures show a 77% increase in the deficit over the first four months of the budget year. (I think they start the budget year in Oct. 2018) This is due to a combination of decreased revenue due to the tax cut and spending increases. Trump talks big, but is silent on the issue.
The argument from the GOP has always been that a tax cut will pay for itself by stimulating the economy which will increase tax revenue. I like paying less tax myself but I doubt that the effects of tax cuts are always positive for the country. The last tax cut during the Bush year led to one of the worst recession in history. So why do we buy into this tax cut concept?
To me it is obvious that if you decrease revenue coming in, then you must decrease what you are paying out. Otherwise the deficit increases. The criticism of the Democrats have always been that they like to spend more and more and so need to keep raising taxes. But when the GOP cuts taxes, they still spend more and more. It doesn't take a genius to see that neither way is sustainable but the GOP strategy is worse for the country.
It is, of course, no upside in cutting any benefits. For example, seniors who are the most conservative among the electorates, would go crazy if you cut Medicare. So the GOP, who needs their support, would never cut Medicare. The most liberal Democrats are advocating Medicare for all. This will mean much bigger deficits unless there is a big tax raise. That is not realistic at this time. So both sides are just trying to please their supporters and not really doing anything logical.
As I always said, we need pragmatic centrist to get elected. But is that really possible? It certainly is not possible on the GOP side as long as Trump is the president.
Sunday, March 10, 2019
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I almost doubt you'll get anyone like that winning the nomination for either party anytime soon. Right now, it's the extremists on both sides that are getting the nominations and winning. If a centrist somehow wins the nomination, the extremists of their party will pressure them to a more extreme agenda. It's a sad reality that I wish I was wrong about.
ReplyDeleteHeck, when the Starbucks guy said he might run, you had left wingers trash him on social media for his centrist ideas. When I see someone like Mayor Bloomberg try to run, the tea party and right wingers bash him. Heck, if you had more senators like the late John McCain, who are not afraid to go against party agendas, things might be different, but the safe bet is to go along party lines.
-LBOAYM
That's why I am thinking of Biden, despite his age. He is the only centrist who may get the nomination since I think Obama, who is very popular among the Democrats, would have to support his friend and vp. If he nominates a young man or woman to be his vp, then he/she may learn in office that centrist ideas work best.
ReplyDeleteThe trouble is all the young ones are from liberal states, except O'Rourke, and may not win the swing states. They are all too liberal. Amy Klobuchar from Minnesota would be best bet for the midwest swing states. She is also less liberal than the others. She had come out against free college tuition for all. But I still think Biden is the best bet to win Pennsylvania, Ohio, Michigan and Wisconsin. If you don't win these, killing it in New York and California wont't matter.
It will be interesting to see if Biden even runs. I'm just not sure that the powers that be will elect him as their nominee. I have a feeling that if he runs, he'll go through some big time bashing by the far left. You might be right though, that he can get votes in the rust belt that'll get him the Presidency.
ReplyDelete-LBOAYM
You are right in that if Biden enters the race, his approval ratings will drop dramatically. He has been in politics so long that it would be easy for anyone to find fault in his past. But I think the country would be better serve to have him beating Trump and then give someone young experience as #2.
ReplyDeleteInteresting the right is attacking Beto O'Rourke already. I think they believe that he is most likely to emerge as the next young leader of the Democrats. They are saying he is the white Obama. Well, that should help him with the Democrats and maybe independents!
March Madness is almost here. What is your prediction? I don't see any clear favorites. Gonzaga just got beat by St. Mary! There is no super team. I guess Duke would still be the favorite if Williamson is able to play like he can. I guess Virginia would be my pick. But that is without any conviction on my part!
Well, I think that conservatives are going to attack any Democrat right now, but Beto is a big name out there and a threat. I think they're a little worried at how much support he received in the last election. I personally don't know much about him and will reserve judgement. Actually, I don't know a whole lot about the candidates except for Sanders, Warren and Booker. I know a little about Castro but I think Castro would take votes away from Beto in the primaries.
ReplyDeleteI'm a little interested to see what conservatives are saying about Beto and why they are calling him a white Obama. Don't underestimate the hate for Obama. So, if they're already labeling him that, he must be a big target.
I'll be interested to see if Williamson comes back this year. I can't imagine that he'll deliver a championship if he doesn't come back the first weekend of the tournament. I think if he hasn't been practicing, that there will be chemistry and conditioning issues. MSU is dealing with a similar situation with Ward. But MSU gets Ward back this weekend, so it'll help that he will be able to get his feet wet. Virginia is a good, solid team. Their defense gives teams fits, though I think MSU has played them well in the past. North Carolina seems to be playing well and as long as Roy Williams is healthy, I'd give them a good chance. So if I had a gun to my head, probably NC. But you know I'd be rooting against them the whole time. I still don't understand how they got through the scandal with no penalties. Maybe you can explain that!
What's your take on the scandal with these people paying all this money to cheat to get into schools? I don't understand why anyone would do that. It's just paying to get into a college of their choice. There are many good schools out there and to me, it's a waste of money. How does a student who would not be able to get into the school survive the rigors of the academics? Do they pay people to take their tests?
-LBOAYM
Don't know much about NC except they must be playing well now. But they were killed by M earlier so it shows anyone can win or lose at any time. Whoever gets hot can win it all.
ReplyDeleteI will talk about the scandal in a new blog soon. I am just trying to figure out the angle from which to write about.