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Originally Posted by justplugit
#1 your right Spence, people will debate this forever because it is also
speculative and conjecture.
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That McCain would have had a massive (i.e. 1T++) 2009 budget deficit is neither speculation or conjecture.
Look at the numbers.
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#2 Agree it was caused by both parties, however imho spending cuts,
10% across the board, except military, as a start and TAX CUTS for small and medium size business will help with unemployment.
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The military can easily take a 10% spending cut. The issue there is with the programs local Congress people have a desire to continue funding for. This is also a bi-partisan issue.
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#3 That makes sense. However, sending jobs overseas started 35 years ago as high taxes and government over regulation is what started the move.
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Globalization is what started the move. Just as manufacturing shifted to the US in the late 1800's we're pushing it onto Asia at the turn of the century.
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#4 My Grandsons will have gray beards before emerging countries help our US economy.
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Nope, it's already happening. I work with manufacturing companies every day in the US and the growth in Asia and BRIC countries is a huge part of their business which helps them them employ Americans.
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#5 Private investment in tech companies is a better route as competition will get us there faster and the taxpayer won't have the expense of another bureaucracy and having to pay benefits and retirement for government employees.
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This is a classic Keynesian scenario. The problem is that private business will almost always take the path of least resistance which means short term shareholder value. People may mock Obama wanting to invest in environmental tech that's slow to produce, but odds are the future success of America will be based on these technologies.
-spence