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Topic: There is no debt crisis |
There is no debt crisis
Fox News, by Sally Kohn
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Original Article
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Posted By:KarenJ1, 12/7/2012 10:20:11 PM
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| After the Great Depression and in the lead up to World War II, the United States debt to GDP ratio was over 100%. And what did we get for that? Not only the resolution of a major world conflict but the New Deal, a package of government stimulus programs that rebooted the economy and created two generations of broadly shared prosperity in America. Today, the debt to GDP ratio is 60%. So what exactly is the crisis? Some economists say the more correct measure is the ratio of interest payments to GDP, in which case our current interest-to-GDP ratio
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Comments:
Really?? I will never, ever understand how these fools can be so truly delusional. I guess they think if they keep saying that it will become true.
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Reply 1 - Posted by:
earlybird, 12/7/2012 10:28:08 PM (No. 9054562)
Sally Kohn, Expert on Everything.
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Reply 2 - Posted by:
Killian Bundy, 12/7/2012 10:31:41 PM (No. 9054567)
Oh, so by Lefty math, $16T(debt) is 60% of GDP (15T - 2012)?
/not even a third grade lie
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Reply 3 - Posted by:
TOOTALL, 12/7/2012 10:51:18 PM (No. 9054600)
Read ´The Forgotten Man´ by Amity Schlaes. It exposes the myth.
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Reply 4 - Posted by:
woodsman, 12/7/2012 11:00:32 PM (No. 9054609)
No problem...all we need is a world war
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Reply 5 - Posted by:
harleynyc, 12/7/2012 11:03:48 PM (No. 9054614)
She´s a quack.
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Reply 6 - Posted by:
johnnygeneric, 12/7/2012 11:15:36 PM (No. 9054627)
I agree with early bird. The Debt to GDP is roughly equal or 100%. By next year, the debt will certainly exceed GDP.
What is this lady smoking?
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Reply 7 - Posted by:
woofwoofwoof, 12/7/2012 11:28:25 PM (No. 9054642)
She´s Fox News´ court jester.
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Reply 8 - Posted by:
montanabound, 12/7/2012 11:29:59 PM (No. 9054645)
No comments allowed after the article. Why would Fox News allow this obvious lie to go unchallenged?
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Reply 9 - Posted by:
BcdErick, 12/7/2012 11:36:15 PM (No. 9054652)
Really embarrassing. Who feeds her?
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Reply 10 - Posted by:
Axeman, 12/7/2012 11:43:05 PM (No. 9054657)
Made me a little sick just to read that. Like staring at a rotting road kill. So much misinformation. Is this to be a new "talking point" (Big Lie)?
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Reply 11 - Posted by:
Distorted, 12/8/2012 12:05:18 AM (No. 9054674)
Collosal twittery. The debt matters as we near the terminal point when market buyers of our bonds come to the inevitable conclusion that the US people have no intention, and more importantly, no means to repay during the term of the bands the value except by printing more paper. At that moment, as it will happen within a period of a few days, the dollar and our economy plus "progressives" illusions will be toast.
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Reply 12 - Posted by:
Safari Man, 12/8/2012 12:20:16 AM (No. 9054684)
Sally Kohn is a talking head. Kohn Head.
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Reply 13 - Posted by:
NotaBene, 12/8/2012 12:52:17 AM (No. 9054700)
Fox News is with the Others.
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Reply 14 - Posted by:
enuf8, 12/8/2012 1:27:29 AM (No. 9054710)
Who´s her mentor, Jaun Williams?
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Reply 15 - Posted by:
DaBigGuy, 12/8/2012 2:16:28 AM (No. 9054729)
This diatribe is hallucinogenic, somewhere in the uber-scary Jackson-Lee/Pelosi realm of illogic.
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Reply 16 - Posted by:
chumley, 12/8/2012 2:53:15 AM (No. 9054739)
By all means, lets take a simple concept and get it all confused with meningless formulas and ratios. progressives love to do that. Baffle the rubes with BS.
How about this? We have spent 16 trillion dollars that we dont have and cannot pay back. Does anyone even know how much a trillion is? Can you picture a pile of a trillion of anything? I cant.
Step 1...Admit you have a spending addiction and are powerless to help yourself.
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Reply 17 - Posted by:
Country Boy, 12/8/2012 4:39:16 AM (No. 9054774)
I thought Fox News had their token moron in Juan Williams. OK, they have two morons now.
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Reply 18 - Posted by:
IowaDad, 12/8/2012 5:39:28 AM (No. 9054796)
And there is no debt crisis in Greece, Portugal, Italy, Spain, Argentina, Zimbabwe.
The reason why we have a debt crisis is that we are competing globally. We are no longer the industrial superpower, with a young population rapidly expanding the economy. No -- our government insists on using borrowed money to invest in failure. And they have created plenty of failure.
At present, every time the government spends a dollar, it has to borrow 40 cents.
That´s just nuts!
Wash you mouth out with soap, Sally Kohn.
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Reply 19 - Posted by:
HicksvilleKid59, 12/8/2012 5:53:14 AM (No. 9054799)
Sally, babe. Please get a clue. The New Deal hindered the recovery from the
Great Depression. The war helped the recovery.
When will the libs recover from the FDR brainwashing and look at what really happened? There is tons of info out there.
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Reply 20 - Posted by:
ussjimmycarter, 12/8/2012 6:29:07 AM (No. 9054813)
FOX News is full of brain damaged people. Don´t watch them if you want facts! READ!
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Reply 21 - Posted by:
franq, 12/8/2012 7:09:48 AM (No. 9054851)
Who is Sally Kohn?
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Reply 22 - Posted by:
vesicant, 12/8/2012 7:56:33 AM (No. 9054918)
This is a straight-faced parody of the Democratic position, right? Right?
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Reply 23 - Posted by:
lizzee1, 12/8/2012 8:07:17 AM (No. 9054932)
Unemployment was higher in 1938 than in 1932. So much for the New Deal.
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Reply 24 - Posted by:
ROLFnader, 12/8/2012 10:13:46 AM (No. 9055174)
#22, I think she must be Roy´s daughter. The shock of learning that her dad was sleeping with J Edgar Hoover has made her absolutely daft. Well, it´s something serious, even if I did make all that up.
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Reply 25 - Posted by:
NorthernDog, 12/8/2012 10:27:29 AM (No. 9055192)
Reminds me of just a few years ago when home buyers were taking out mortgages for 105% of the home´s value. The reasoning was that the home´s value would keep going up and the debt as a % of home value would quickly fall. What could possibly go wrong?
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Reply 26 - Posted by:
marthaville, 12/8/2012 6:35:52 PM (No. 9055719)
Let´s see. Obama will string out the "Great Recession" until the second year of his third term, then get us into a world war. Sounds like the kind of plan he has. President for life to top FDR.
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