Investors lose a trillion dollars in one day

[Riot]

Originally Posted by joeydb

I'm saying it doesn't help, and by definition those on it aren't moving the economy forward. And I'm saying it's among the first things to be reduced as expenses go.

It doesn't account for ALL of our debt...just $9,000,000,000,000 up until 2004. More than that now.

http://www.cato.org/pub_display.php?pub_id=2807

I hate to break it to you "failed Reaganomics" followers, but unemployment benefits and welfare most certainly DO move the economy forward during a recession, by providing ready cash that is spent in the economy immediately. The churn keeps everyone afloat while the economy recovers. That is common financial knowledge. What "by definition" are you talking about? Not any accepted financial definition.

The right wing wants to take away any help for poor starving children. 25% of the children in this "great country, where the millions of unemployed are just unmotivated" are living in poverty. You're on that bandwagon. Think about that. Is that what you envision America to be? Where we have fellow citizens homeless and starving and left on their own?

Because magically, somehow, they could all be rich if they would only get off the public dole and work because you did it? You think that is possible? That's what you want, your vision for America?

Do you think it is even doable any more, in the country where the Republican party has spent the last 40 years trying to disassemble the middle class and remove any remote help from fellow citizens to give someone a chance? Do you realize that the country isn't what it was after WWII, as far as opportunity? That the wage disparity is too great, that real wages are too stagnant, the "job creators" have taken their jobs out of this country? That what we live in today is the "new reality", and you'd better get used to it?

That's disgusting. We are better than that. We are one of the richest nations in the world, and we treat our citizens better than that.

[joeydb]

Originally Posted by Riot

I hate to break it to you "failed Reaganomics" followers, but unemployment benefits and welfare most certainly DO move the economy forward during a recession, by providing ready cash that is spent in the economy immediately. The churn keeps everyone afloat while the economy recovers. That is common financial knowledge. What "by definition" are you talking about? Not any accepted financial definition.

The right wing wants to take away any help for poor starving children. 25% of the children in this "great country, where the unemployed are just unmotivated" are living in poverty. You're on that bandwagon. Think about that.

Nine trillion isn't peanuts. And that's a BIG chunk of the 14.5 Trillion.

[Riot]

Originally Posted by joeydb

Nine trillion isn't peanuts. And that's a BIG chunk of the 14.5 Trillion.

Not in the real world. Only in scary right-wing panic land.

14 trillion = national debt

3.6 trillion - social security trust fund

4.0 trillion - Bush unfunded wars, unfunded Medicare Rx bill, other policies (ongoing expense)
3.0 trillion - Bush unfunded tax cuts (ongoing expense)

2.0 trillion - tax loss due to recession

1.4 trillion - Obama policies, temporary stimulus, etc (most paid back)