Poll: In order to solve our fiscal issues, the ONLY thing we need to do is

[sportjunkie07]

personal responsibility... the buck stops here, for everyone.

[mardi gras skin]

I'd like to see us generating revenue and spending at about 17% of GDP. Right now, we're collecting at 15% and spending at 25% so it would take a 2% of GDP increase in revenue and an 8% of GDP decrease in spending to get us there. In dollars, we would have to raise revenue by about $320 Billion and reduce spending by about $1.28 Trillion to achieve a balanced budget at 17% of GDP. That's where I'd like to see us.

Didn't answer the poll because I thought "some combination of tax hikes and spending cuts is required" was too broad. A 4:1 ratio makes me fairly sympathetic to the "drastically reduce spending" crowd.

[Burgold]

You know you're tired when you read the title and you think you saw...

In order to solve our facial tissues, the ONLY thing we need to do is... and you're thinking, "hankerchiefs, maybe?"

Edit: and isn't your last option all of the above vs. none of the above. Cuts and tax increases will be necessary, closing loopholes, finding new innovations that we can be the leaders in that everyone will want and need, etc. Mainly, we need to make a discovery that everyone in the world will need and want to buy from us.

[twa]

Obviously the answer is more Americans on food stamps and unemployment according to the administrations multiplier effect of them creating wealth.

http://hotair.com/archives/2011/08/16/video-obama-ag-secretary-says-rise-in-food-stamps-is-putting-people-to-work/

[AsburySkinsFan]

There is no "only thing" that needs done.

[Bang]

I think the FIRST and most important thing that can help is to back away from the brink of war every time the ideologies disagree.

The first thing we need to do is strive to find some common ground to end the ridiculous refusal to even consider anything from the other side. I put a lot of this on the right, but not all. However, obstructionism is certainly the game they're playing to keep Obama weak, unfortunately, the "politics above all" attitude is harming this country, and I fear the harm done may be irreversible.

Compromise is forgotten. Listening is unheard of. Screaming, yelling, insulting, lying, manipulating, selling us out.. these are the normal ways of Washington doing business.

Until that changes to a more civil atmosphere, there will be no solution to any problem.

~Bang

[Kilmer17]

It's simple.

Efficiency and progress is ours once more

Now that we have the Neutron bomb

It's nice and quick and clean and gets things done

Away with excess enemy

But no less value to property

No sense in war but perfect sense at home:

The sun beams down on a brand new day

No more welfare tax to pay

Unsightly slums gone up in flashing light

Jobless millions whisked away

At last we have more room to play

All systems go to kill the poor tonight

Gonna

Kill kill kill kill Kill the poor:Tonight

Behold the sparkle of champagne

The crime rate's gone

Feel free again

O' life's a dream with you, Miss Lily White

Jane Fonda on the screen today

Convinced the liberals it's okay

So let's get dressed and dance away the night

While they:

Kill kill kill kill Kill the poor:Tonight

[NoVaO]

Obviously the answer is more Americans on food stamps and unemployment according to the administrations multiplier effect of them creating wealth.

http://hotair.com/archives/2011/08/16/video-obama-ag-secretary-says-rise-in-food-stamps-is-putting-people-to-work/

http://money.cnn.com/2008/01/29/news/economy/stimulus_analysis/index.htm

The industry research firm Moody's Economy.com tracked the potential impact of each stimulus dollar, looking at tax rebates, tax incentives for business, food stamps and expanding unemployment benefits.

The report found that "some provide a lot of bang for the buck to the economy. Others ... don't," said economist Mark Zandi.

In findings echoed by other economists and studies, he said the study shows the fastest way to infuse money into the economy is through expanding the food-stamp program. For every dollar spent on that program $1.73 is generated throughout the economy, he said.

"If someone who is literally living paycheck to paycheck gets an extra dollar, it's very likely that they will spend that dollar immediately on whatever they need - groceries, to pay the telephone bill, to pay the electric bill," he said.

Tracking that single dollar spent through the economic chain shows what economists call the ripple effect, Zandi said. For example, that dollar spent at the grocery store in turn helps to pay the salaries of the grocery clerks, pays the truckers who haul the food and produce cross-country, and finally goes to the farmer who grows the crops.

The report pointed to expanding unemployment benefits as the program that gets the next biggest bang for the buck. That's because, although the unemployed are already getting checks, they need to spend the money. For every dollar spent here, the economy would see a return of $1.64, Zandi said.

Finally, Moody's report says business incentives such as tax breaks for buying new equipment - so-called accelerated depreciation - would give the least bang for the buck and potentially provide the slowest infusion of money. A dollar spent there would generate only 33 cents in the economy because, Zandi said, it takes longer for businesses to implement any benefit received.

Another study that was actually done by the Bush administration, of all people:

http://wdr.doleta.gov/research/FullText_Documents/ETAOP2010-10.pdf

Extending unemployment benefits for America’s long-term jobless can only help the economy, say experts on Wall Street and in Washington. But Republicans in Congress are determined not to appropriate any more money for unemployment assistance, citing the need to reduce federal spending.

Jobless benefits for two million Americans are set to expire within two weeks—a development that could have negative ramifications for an already weak economy. Alec Phillips, an analyst with Goldman Sachs, told The Wall Street Journal that allowing unemployment insurance to expire would lower economic growth by half a percentage point.

In a report commissioned by the Bush administration U.S. Department of Labor, it is estimated that every dollar spent on jobless benefits has the effect of $2 spent in the economy. This is because unemployment checks allow the out-of-work to still be a part of the consumer economy and purchase goods and services.

[twa]

Yeah NOVAO,listening to Goldman Sachs has worked out real well

how about they publish their internal study and let's take a peek?

[Predicto]

The funny thing is that in keeping with the idea that everything should be on the table, and every little bit helps, this really should be part of the solution.

You crazy libertarian you.

[Stadium-Armory]

Educate the population.

[sjinhan]

reduce the benefits for the social programs...

Single payer health care....

raise taxes for EVERYONE, but probably more aggressive for the higher incomes...

make smart cut in the military spending...

invest in programs that will help American reinvent itself to compete with the new world economy...

[Destino]

It would also help to acknowledge that economies go up and down. While there is a lot that needs to be done the timing is equally important. Drastic spending cuts while the economy is down will not spur economic activity and I've yet to see anyone argue otherwise. The debt has somehow eclipsed the fact that the economy is still in the tank and unemployment is still high.

[Springfield]

Educate the population.

So, you want to increase spending?

[Stadium-Armory]

It would also help to acknowledge that economies go up and down. While there is a lot that needs to be done the timing is equally important. Drastic spending cuts while the economy is down will not spur economic activity and I've yet to see anyone argue otherwise. The debt has somehow eclipsed the fact that the economy is still in the tank and unemployment is still high.

True. The goal is to balance the budget over the business cycle (as in, over time). In times of economic growth, you run a surplus. In times of contraction, you spend that surplus to reignite growth. And on goes the cycle.

Cutting spending during a recession doesn't work, and I think history bears that out.

[Predicto]

Need to do both, of course.

[twa]

If we do not grow the economy neither combined will save us

[NoCalMike]

I think another problem when it comes to the "jobs" issue is that neither side is really being honest about what it means to be competing in a global economy. If America is going to be competing iin the global economy than the fact is most of these manufacturing jobs are never coming back. That is a fact. The only way a lot of those jobs would find their way back to American shores is if our own standard of living was drastically reduced.

That MUST BE acknowledged first. Neither side is saying it, because it doesn't sound or play well with people who are out of work and/or who have been in the manufacturing industry for years, generations even.

The second step is to come up with some type of plan that retrains our society in the fields that are growing and have lasting power. That is going to mean making higher education more accessible. People out of work, aren't likely to go 30k in debt to go to college and be retrained. They probably couldn't even get approved for the loans needed even if they did want to.

The American standard of living as we knew it 20-30 years ago is very artificial right now. People aren't making salaries that are keeping up with inflation. What people were doing instead, were getting credit cards. Buying what they couldn't buy on their salary, with credit cards. Which is probably the worst thing possible.

[December90]

The American standard of living as we knew it 20-30 years ago is very artificial right now. People aren't making salaries that are keeping up with inflation. What people were doing instead, were getting credit cards. Buying what they couldn't buy on their salary, with credit cards. Which is probably the worst thing possible.

You just described very concisely, what the problem is with the Federal Government.

[Koolblue13]

It's simple.

Efficiency and progress is ours once more

Now that we have the Neutron bomb

It's nice and quick and clean and gets things done

Away with excess enemy

But no less value to property

No sense in war but perfect sense at home:

The sun beams down on a brand new day

No more welfare tax to pay

Unsightly slums gone up in flashing light

Jobless millions whisked away

At last we have more room to play

All systems go to kill the poor tonight

Gonna

Kill kill kill kill Kill the poor:Tonight

Behold the sparkle of champagne

The crime rate's gone

Feel free again

O' life's a dream with you, Miss Lily White

Jane Fonda on the screen today

Convinced the liberals it's okay

So let's get dressed and dance away the night

While they:

Kill kill kill kill Kill the poor:Tonight

That ruled! I'll see your DK and raise you

Come on baby, eat the rich,

Put the bite on the son of a *****,

Don't mess up, don't you give me no switch…

C'mon baby and eat the rich,

C'mon baby and eat the rich…

C'mon honey, here’s your supper,

C'mon baby, bite that sucka!…

[solo]

I’ll eat you, baby you eat me,

Eat two, baby get one free,

Shetland pony, or extra pepperoni,

Just pick up the phone…

Eat Greek, or eat Chinese,

Eat salad, or scarf up grease,

You're on the shelf, you eat yourself,

Come on, and bite my bone…

[Chorus]

Come on baby, eat the rich,

Bite down on the son of a *****,

Don't mess around, don't you give me no switch…

C'mon baby and eat the rich,

C'mon baby and eat the rich…

Sittin’ here in a hired tuxedo,

You wanna see my bacon torpedo!…

[Kilmer17]

Who would win a fight between Lemmy and God?

[Koolblue13]

Who would win a fight between Lemmy and God?

Trick question, Lemmy is God!

[williams17]

We need to find a happy medium. raise taxes, and cut spending. But lets not cut spending on education and senoir citizen programs. That is wrong. Lets cut spending on the military, and earmarks, and raise taxes.

[Koolblue13]

End our Wars.

[Predicto]

We need to find a happy medium. raise taxes, and cut spending. But lets not cut spending on education and senoir citizen programs. That is wrong. Lets cut spending on the military, and earmarks, and raise taxes.

Gotta cut spending on senior citizen programs or reform them somehow - Medicare is, hands down, the single biggest factor in our long term fiscal problem.