tag:blogger.com,1999:blog-6616959642391988608.post5702294434705569706..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Federal finances continue to improveScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-6616959642391988608.post-52391912155776010892013-02-06T14:19:43.741-08:002013-02-06T14:19:43.741-08:00I don't have the facts in front of me to back ...I don't have the facts in front of me to back this up, but I think it's safe to assume that the taxes generated by Baby Boomers' withdrawals from their retirement accounts will be much less than the tax revenues lost as they stop working, and the extra spending required as they start collecting their social security checks. Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-8206094127589413102013-02-06T09:38:02.549-08:002013-02-06T09:38:02.549-08:00With all the focus on raising taxes (or the new pr...With all the focus on raising taxes (or the new preferred word "revenue"), I have never seen any analysis of the impact on future tax receipts from the vast number of baby boomers who will soon have to make Required Minimum Distributions from qualified retirement accounts.<br /><br />Seems to me that there is a huge reservoir of untaxed income about to become a gold mine for the Fed GovAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-12846127378181653372013-01-17T21:41:02.517-08:002013-01-17T21:41:02.517-08:00great article destroyed by ridiculous claim that h...great article destroyed by ridiculous claim that higher gov spending leads to higher unemployment. you have that backwards - higher unemployment leads to higher gov spending.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-55747740556372963312013-01-15T06:10:25.424-08:002013-01-15T06:10:25.424-08:00Scott,
"Note that since the end of 2009, sp...Scott,<br /><br /> "Note that since the end of 2009, spending has been almost flat.."<br /><br />That's hardly comforting considering 2009 spending consisted of supposedly one-time blowout emergency spending like the stimulus and bailouts. The fact that the budget has grown at all means all that spending has been built into the baseline.Paulhttps://www.blogger.com/profile/06843411100678811292noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-38337685695217989922013-01-15T02:58:30.361-08:002013-01-15T02:58:30.361-08:00The lessons history are that great empires are des...The lessons history are that great empires are destroyed from within - not without - ultimately by ineffectual governments, mis-allocation of resources, corruption,squandering the nation's wealth on military mis-adventures,and the moral decay, materialism and loss of vitality of their populace.Williamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-25009784304046229392013-01-14T18:43:30.438-08:002013-01-14T18:43:30.438-08:00Ok, so chop $100billion off of Defense spending. ...Ok, so chop $100billion off of Defense spending. Chop $200b, Chop $300bil. <br /><br />So now we'll have a $700bil. deficit. <br /><br />And have a weaker defense for it. <br /><br />Barking up the wrong tree. <br /><br />Caveat: Yes there is waste and abuse in the Defense budges, just like there is waste and abuse in virtually every government department and agency. <br /><br />The Bobhttps://www.blogger.com/profile/18190525712352815677noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-49485339421327262232013-01-14T18:15:59.782-08:002013-01-14T18:15:59.782-08:00To be specific about 2012 Defense Spending:
US - ...To be specific about 2012 Defense Spending:<br /><br />US - $715 Billion<br />China - $143 Billion<br />Russia - $71.9 Billion<br />United Kingdom $62.7 Billion<br />France $62.5 Billion<br />Japan - $59.3 Billion<br />Saudi Arabia - $48.2 Billion<br />India - $46.8 Billion<br />Germany - $46.7 Billion<br />Brazil - $35.4 Billion<br /><br /><a rel="nofollow">http://www.huffingtonpost.com/2012/08/Williamhttps://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-33752169980330427572013-01-14T10:16:48.667-08:002013-01-14T10:16:48.667-08:00US spends more on defense than next 10 nations tog...US spends more on defense than next 10 nations together, yet is virtually impossible to invade. Are the Mexicans going to march north? The Canadians onto a quick land grab?<br /><br />"Clinton... reductions in defense spending, not one of his better policies". Where is the logic?Gloeschihttps://www.blogger.com/profile/10705125909506053628noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-61885387529260462022013-01-13T17:36:58.643-08:002013-01-13T17:36:58.643-08:00It's part of an interesting pattern of late.
...It's part of an interesting pattern of late. <br /><br />Republicans claim to want to balance the budget and then create enormous deficits. <br /><br />Then Democrats re-balance things after claiming that they want to increase spending on important national investments. <br /><br />People just do not end up doing what they say they are going to do...bt1138https://www.blogger.com/profile/12843326237379459791noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-64514441156231803322013-01-13T11:40:01.218-08:002013-01-13T11:40:01.218-08:00Last year, I predicted that California would blowu...Last year, I predicted that California would blowup due to its deficit. However, I was apparently wrong with Gov Brown now claiming that California will have a revenue surplus this year. I guess the California miracle is real. Given that teachers, highway patrol officers, and essentially everyone working for the state of California earns much more than similar workers here in Pennsylvania (my McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-80917574449966476842013-01-13T10:32:25.804-08:002013-01-13T10:32:25.804-08:00Philly Fed President Plosser just put this post in...Philly Fed President Plosser just put this post in fine literature format. No offense, Scott. You really must read it.<br /><br />The Economic Outlook and Long Term Growth.<br /><br />http://www.philadelphiafed.org/publications/speeches/plosser/2013/01-11-13_new_jersey_economic_leadership_forum.cfm<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-10585708417626097442013-01-13T08:09:11.324-08:002013-01-13T08:09:11.324-08:00A quick way to cut Federal spending would be to fo...A quick way to cut Federal spending would be to fold the flags up on the USA and write a new constitution -- everything and everybody receiving payments from the Federal government would be out in the cold instantly -- just an idea...McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-66928984903722243142013-01-12T05:19:42.491-08:002013-01-12T05:19:42.491-08:00wow. I have never seen the correlation made betwee...wow. I have never seen the correlation made between govt spending and unemployment made to succinctly. the left has virtually no argument except that cutting spending is "MEAN". my retort? what's compassionate about high umemployment and saddling our future with excessive debt.stevehttps://www.blogger.com/profile/07387986994469835875noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-79584145112457737712013-01-11T20:58:40.455-08:002013-01-11T20:58:40.455-08:00Cut spending, cut spending, cut spending.
Cut ent...Cut spending, cut spending, cut spending.<br /><br />Cut entitlement, wipe out USDA, wipe out Labor, wipe out HUD, wipe out Commerce, privatize the VA, wipe out Homeland Security (major P.U.) cut Defense in half.<br /><br />Cut, cut, cut, cut, cut.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-31864164404498668832013-01-11T20:55:59.199-08:002013-01-11T20:55:59.199-08:00Inept may be too soft a word to describe the attem...Inept may be too soft a word to describe the attempts by both this administration and Congress in the budget arena.<br /><br />Watching the Fiscal Cliff fiasco made me want to jump up and scream, "Term limits for both the House and Senate are needed!". Anita Clark Realtorhttps://www.blogger.com/profile/10205768974680954250noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-84644750175575132672013-01-11T19:18:23.801-08:002013-01-11T19:18:23.801-08:00The choice between guns and butter is upon our nat...The choice between guns and butter is upon our nation -- a balanced approach to cutting guns and butter is likely, which is precisely why the military-industrial Republicans are framing the budget cuts as entitlement cuts exclusively -- the exercise of cutting government spending is agonizing for the both the big government Democrats and the military-industrial Republicans -- as far as I'm McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-50706850793908218012013-01-11T17:25:18.563-08:002013-01-11T17:25:18.563-08:00Raising taxes early in his first term wasn't o...Raising taxes early in his first term wasn't one of Clinton's best moves. What really helped the economy was his strong dollar policy, his welfare reform, trade liberalization, and tax cuts in his second term. A big part of the decline in government spending under Clinton, however, came from reductions in defense spending, arguably not one of his better policies. He also pushed a little Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-6798378455282796812013-01-11T14:23:28.030-08:002013-01-11T14:23:28.030-08:00Don't mention Clinton - raised taxes, produced...Don't mention Clinton - raised taxes, produced budget surplus.<br /><br />Little primer on sustainability of deficits: <br /><br />if deficit grows faster than economy it's UNSUSTAINABLE. Pure mathematics.Gloeschihttps://www.blogger.com/profile/10705125909506053628noreply@blogger.com