(D) Barney Frank Calling for More Deficit Spending!

[GenSeneca]

All the Bush Haters like to pretend they care about deficit spending and the debt...CRYING about how he's been spending our childrens, and grand childrens tax money... but they go quiet when a Democrat calls for such things... or they make vain attempts to justify deficit spending:

"There needs to be an immediate increase in spending and I think this is a time when deficit fears need to take a second seat... I do think this is a very important time for a kind of dose of Keynesianism."

Of course... its TOTALLY OK when someone with a (D) wants to spend money we don't have...

BTW, Keynesian economics is the school of economic thought that ALL Socialist Countries adhere to... Please note they are all bankrupt.

 

[bododie]

Barney tried to make the entire issue about racism to deflect attention from his involvement. He's a coward. He's a democrat.

 

[Frolicking Dinosaurs]

Barney Frank is one of those characters like Chuck Hagee on your side - the weird uncle hardly anyone in the family likes, but they tolerate him because he is family. I believe you will see Frank losing a lot of his power once Obama is president because the Dems will be able to afford the luxury of internal strife once again - and they will root out the less effective members. This is similar to what the neo-cons have done with the true conservatives within their ranks during their time of a Rep prez and congress.

 

[BigRob]

Barney Frank is one of those characters like Chuck Hagee on your side - the weird uncle hardly anyone in the family likes, but they tolerate him because he is family. I believe you will see Frank losing a lot of his power once Obama is president because the Dems will be able to afford the luxury of internal strife once again - and they will root out the less effective members. This is similar to what the neo-cons have done with the true conservatives within their ranks during their time of a Rep prez and congress.

I take it he will lose the chairmanship of his committee?

 

[top gun]

All the Bush Haters like to pretend they care about deficit spending and the debt...CRYING about how he's been spending our childrens, and grand childrens tax money... but they go quiet when a Democrat calls for such things... or they make vain attempts to justify deficit spending:

"There needs to be an immediate increase in spending and I think this is a time when deficit fears need to take a second seat... I do think this is a very important time for a kind of dose of Keynesianism."

Of course... its TOTALLY OK when someone with a (D) wants to spend money we don't have...

BTW, Keynesian economics is the school of economic thought that ALL Socialist Countries adhere to... Please note they are all bankrupt.

He's talking about a 2nd stimulus package that even George Bush has said he wants to consider and the Fed Chairman has recommended.

Now I'm not saying I personally think running up more debt is a good idea but it's being tossed around equally by both sides.

 

[The Scotsman]

All the Bush Haters like to pretend they care about deficit spending and the debt...CRYING about how he's been spending our childrens, and grand childrens tax money... but they go quiet when a Democrat calls for such things... or they make vain attempts to justify deficit spending:

....damn good point!

The rhetoic of keynes may have worked 20 years ago but if, and I'm assuming here they're talking about spending on capital projects, that would be difficult to justify in these days of globalist economies. The same argument is being made here that we should spend our way our of recession but unfortunately the potential winners of keynesian economics are Indian Steel plants, Russian Aluminium Smelters and the purveyors of cheap Chinese plastic cr4p!

 

[Frolicking Dinosaurs]

I take it he will lose the chairmanship of his committee?

I certainly hope so. I will be very disappointed if he doesn't.

 

[GenSeneca]

....damn good point!

Thanks Scotty

He's talking about a 2nd stimulus package that even George Bush has said he wants to consider and the Fed Chairman has recommended.

Now I'm not saying I personally think running up more debt is a good idea but it's being tossed around equally by both sides.

Would this be in addition to the $1000 stimulus package Obama wants? (not to mention all the other deficit spending he has proposed)

As for it being tossed around by both sides... Both sides are nuckin futz to suggest spending our way out of an economic downturn... Don't sit on the fence about it, take a side. Whether you think its a good or bad idea, let your representatives in Washington know.

I believe you will see Frank losing a lot of his power once Obama is president...

Wanna make a bet? Frank is a sweetheart to the Left, the media just loves the guy and he is the highest profile gay in Washington.... He was having a fling with the CEO of Fannie or Freddie (I forget which), he was instrumental in the housing meltdown... yet... No scandal is being reported, much less investigated. Frank aint goin nowhere, and he sure as hell aint gonna lose any power - they will promote him to a more powerful position if possible.

 

[primerib]

The Fannie Mae man lover. Getting it in the pocket and up the ass. His sexual orientation is his biz but when you are on the take and having an affair there is something seriously wrong.

He said "forget about the national debt, forget about the budget deficit, we need massive spending immediately and an across the board tax increase." I'm not paraphrasing.

How did this person get elected to public office? Where is the media on these stories????

 

[bododie]

How did this person get elected to public office

By the same people who have kept Kennedy the murderer in office forever. Mass. seems to like deviancy a lot.

 

[Andy]

As for it being tossed around by both sides... Both sides are nuckin futz to suggest spending our way out of an economic downturn... Don't sit on the fence about it, take a side. Whether you think its a good or bad idea, let your representatives in Washington know.

The universal standard for judging the economy is the GDP. The GDP calculation includes government spending. The politicians understand this, and know how to use government spending as a way of manipulating the GDP for political gain to a vastly ignorant population.

In other words, it's true that government spending can't really pull up a failing economy, but it is true that it can manipulate the numbers to give people a warm fuzzy even if the economy is still weak.

It's the same tactic Clinton used to make it appear as though there was a budget surplus, which caused all the liberal goons to have warm fuzzys, even when the debt was still increasing by leaps and bounds. It will no doubt work on Obamabots too. They don't even know what he support anyway. It's not likely they'd know much about the economy.

Barney Frank is one of those characters like Chuck Hagee on your side - the weird uncle hardly anyone in the family likes, but they tolerate him because he is family. I believe you will see Frank losing a lot of his power once Obama is president because the Dems will be able to afford the luxury of internal strife once again - and they will root out the less effective members. This is similar to what the neo-cons have done with the true conservatives within their ranks during their time of a Rep prez and congress.

Barney Frank is one of the main front and center, leading democrat. He won't be removed because he stands for what the majority of the party stands for. What conservatives that have been moved out?

 

[GenSeneca]

In other words, it's true that government spending can't really pull up a failing economy, but it is true that it can manipulate the numbers to give people a warm fuzzy even if the economy is still weak.

I think we can chalk this up to yet another "issue" that Democrat voters would rather avoid acknowledging, much less discuss.

Its sad that they are so quick to write this off, or excuse it as being somehow practical, or claim its hypocritical to even make an "issue" out of it since there are Republicans on board for such proposals....

The Democrats are positioning themselves outspend Bush with even greater levels of deficit spending and vastly increasing the size of the debt. They are looking at repealing the cap on Social Security contributions so that individuals will not be limited to contributing only on their first $90k.

In the short term, it will make the system flush with money and I expect they will use this tactic to make it appear as though they are being fiscally responsible. However, in the long term, it will dramatically increase the size of unfunded liabilities inside the system, which already sits around 54 trillion.