Quote:
Originally Posted by spence
Yes, because I'm such a dunce you need to talk down to me 
If the commercial you quoted above is the same one I saw, Obama went on to add lose bank regulations as another big part of the problem...contradicting your post.
I'd hope we could all agree that the Bush Tax Cuts and regulatory policy did have a tremendous impact on both the deficit and the recession.
Does this justify going out of your way to angrily smear the Commander in Chief as a liar?
-spence |
Spence, please try to follow along...
Obama said that Republican tax cuts caused the current recession.
If, he said later on that the banks were also a part of the problem, UNLESS HE TOLD THE AUDIENCE TO IGNORE WHAT HE SAID ABOUT TAXES CAUSING THE RECESSION, then it does not contradict my post. Not in the least. He lied. Am I going too fast for you?
And if Obama did mention loose banking regulations contributed to he recession (which is true), do you know who signed the de-regulation into law, which allowed credit default swaps and collaterized debt obligations? The tea partier Bill Clinton.
"I'd hope we could all agree that the Bush Tax Cuts and regulatory policy did have a tremendous impact on both the deficit and the recession."
As for the tax cuts, you cannot say what impact, if any, they had on the recession, and here is why. Again, try to keep up...federal tax receipts INCREASED after the Bush tax cuts. It's possible that the cuts were stimulative. Meaning, if the tax rates were higher by X percent, you have no way of knowing that tax ravenues collected would have increased by the same X percent. You somehow don't know that, and I gather you work in a financial position of some sort? Unbelievable...
As for the regulatory policy...the de-regulation was passed by a Republican congress, and signed into law by Clinton. Both parties therefore seem to share blame. But I don't hear too many liberals suggesting that.
You say that the tax cuts had a tremendous impact on the recession? Spence, please tell me how a recession is caused by letting people keep a bit more of their own money? Hmmm?
Tax cuts may have worsened the debt,
IF you assume that higher tax rates would lead to more tax dollars collected. But we know, we absolutely know for certain, that tax revenue can increase following tax cuts. I'm not saying that the tax cuts necessarily
caused revenue to increase. But you can't say they didn't cause revenue to increase, either.
Spence, you're in finance? Do you know why stores have sales? Don't you admit that higher prices don't always mean you'll see higher revenue?
"because I'm such a dunce you need to talk down to me"
Bingo. Read your post here, Spence. It;s breathtakingly inaccurate at best, downright stupid at worst.
Finally, did Obama mention that one teeny-tiney cause of the recession was the liberal notion that poor people have a right to $400,000 mortgages? Did he admit to that? I bet not. And that also played a tremendous part. Yet Obama (and you) won't mention that...
But true to his liberal colors, Obama won't tell any of these people that they bear any responsibility for taking out stupid mortgages. Because one of the cornerstones of liberalsim is a complete, total, perfect, "lack of responsibility". If someone making $35,000 a year agreed to a $600,000 adjustable-rate mortgage, it wasn't that they were stupid and deserve to face the consequences. Nope. It was the banks's fault. Some mean Republican (probably a white guy in a Brooks Brothers suit) made them do it.
"Does this justify going out of your way to angrily smear the Commander in Chief as a liar?"
It's only a smear if it's not true. The man lied. So I called him a liar. Again, is that going too fast for you?
Good day.