Comments by "whyamimrpink78" (@whyamimrpink78) on "FLASHBACK: Trumps Says Paying Down The Debt Will Be ‘Easy’" video.

  1. Entitlements cost way more than defense. Also, over the past decades defense spending has been dropping where entitlements have been increasing if you look at it in terms of percent GDP.
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  2.  @PEPLUVER1 , for years defense spending has been stagnate. It is actually one of the advantages of the 2 party system. One party increases it the other doesn't.
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  3.  @narrativenationUFC , defense spending, in the end, makes up less than 20% of our total spending and around 4% of our GDP. Defense spending was as high as 10% of our GDP in the 60s but has dropped since. Medicare, Medicaid and SS has been increasing in terms of percent of GDP and is now higher than defense where Medicare alone is around 3% of GDP. SS is around 5% of GDP. Fact is defense spending has been dropping for years. You can only cut so much.
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  4.  @SandmanJr90 , I am. And you are familiar with the book "How to Lie with Statistics"? Or the phrase "Lies, damn lies, and statistics"?
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  5. You don't have to raise taxes to pay off the debt. Raising taxes does not always mean more revenue. 10% of 100 is greater than 50% of 10. Also, the current deficit is around the norm is you compared it to previous deficit. The economy is growing and doing well, so well that the Fed is looking to raise interest rates for the third time this year.
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  6.  @bboywolf  , yes
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  7. The deficit went down under Obama because republicans took control of the House to slow down spending. Under Trump the deficit is around the norm from previous deficit when you look at it in comparison to percent GDP.
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  8. MMT is a 3rd grade understanding of economics. The federal government does not control the money supply, it never has. The Federal Reserve does.
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  9.  @MrJc9600  , the Fed is raising interest rates, something it did not do under Obama. It is doing it three times. Initial claims are down and under Trump worker participation rate is stagnate where prior to that it was dropping. That means more people are looking for jobs and unemployment is still dropping. Fact is the economy is booming and Trump is the reason why. People are willing to spend without fear of the government taking their money away. Wages have increased faster than inflation recently as well.
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  10. MMT is a joke. The Fed controls the money supply.
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  11. People like Kyle and his fans don't understand economics. I have conversed with many of them and it is amazing how they only use talking points as opposed to actual reasoning.
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  12. What is higher? 10% of 1000 or 50% of 100? Just because a tax rate is lower does not mean lower revenue.
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  13. Kayla, KS is doing fine economically especially for being a farming state. They are around average in economic growth. You can point to KS where others can point to CA and Connecticut.
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  14. Schiwi M, you can say the same for Democrat logic where 100% tax rate will make the country rich.
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  15. Henry, Japan has interest rates close to 9% in the 80s. Japan also had low inflation the past couple decades leading to them to have low interest rates.
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  16. Henry, the federal government does not create currency.
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  17. Henry, again, that is not true. The Fed controls the money supply. Hyperinflation is not fear mongering, it occurred in the 60s and 70s when we had easy monetary policy in place.
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  18.  C Wilson , we also spend more on education than most of those countries combined. So by your standard we spend too much on education.
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  19.  @SandmanJr90 , defense spending is less than 20% of our government spending.
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  20. @Lucifer Morningstar , you can easily google it. I get the numbers form usgovernmentspending.com.
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  21.  @narrativenationUFC , so people who work in the military are not part of the 99%?
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  22.  @Leinja , healthcare rankings are arbitrary. Anyone can do a legit analysis on the stats and create any ranking they want.
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  23. jojo, there is value in having programs like Medicare and social security, I just want them ran at the state and local level. You asked about how much we should pay in defense. I can say the same thing for entitlement programs. It varies by area. In some states and local areas there is a strong charity environment where in others there isn't. To me a system that is ran locally is managed better overall. To give an example in the 60s the Community Mental Health Act was passed and was met with mixed results. Some were that not enough institutions were built as the federal government did not budget well. Another was that many states saw it as a way to simply pass the cost onto the federal government and stop funding local hospitals which created the problem of many people with mental health becoming homeless as opposed to homeless people simply being poor. Overall the federal program designed to "help" the people did not do well. As for defense spending that is the responsibility of the federal government. The reason why is because defense is there to deal with international affairs where states can't. The federal government is there to serve the states, not the people. One way is a defense from foreign nations and deal with international affairs. As a drawback the military cannot enforce domestic laws on the people without consent of the governor of the state. This is due to the Posse Comitatus Act. So how much should the federal government spend on defense? The answer is that it depends on the situation. Sometimes more sometimes less. It all depends on the environment. But for entitlement programs the federal government should really be spending zero where states should be handling that as they can manage those programs better.
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  24. bryan s, states can handle entitlement programs. If we cut back we pass the responsibility onto the states. That is not a bad thing as states usually manage those programs better.
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  25. jojo, the addition of the space force is being proposed to save money. The reason why is because the air force currently handles issues related to space. A space force will pass the responsibility onto a specific group where they can micromanage it better. Prior to the late 40s the military was essentially combined into one where they were separated into different departments of the Air Force, Navy and the Army.
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  26. Aleksander, prior to the war on poverty the poverty rate was dropping. Since then it has remained stagnate. A lot of times these federal programs are not the best where local governments manage these programs better. Another example is the Community Mental Health Act passed by JFK. That act led to mismanagement of funds where only around half of the mental health institutions were built and none of them were fully funded. There is a desire to have money spent by government to help the people. The question becomes what is the best route? To me it is allowing the local government manage those programs as the federal government has shown to do a very poor job at managing them.
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  27. Henry, MMT is a joke. The Federal Reserve controls the money supply.
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  28. potstab, when it comes to programs designed to help the people the federal government has always done a poor job at managing them.
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  29. Henry, the federal reserve controls the money supply. The reason why is because if the federal government controlled the money supply than come election time they will just print money to buy votes and not care about long term effects such as inflation.
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  30. Henry, congress does not control the money supply, the Federal Reserve does. Collecting taxes is collecting revenue. Coining money is to deal with foreign trade. For years there were different currency. It wasn't until the mid 1860s that we had a unified currency system in the US. Please learn your economic history.
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  31. People who support MMT have a 3rd grade understand of economics.
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  32. Henry, we have had many recessions in this nation. Prior to the mid 1860s we were a developing nation that still went to war to end slavery and push to keep us unified. You really can't compare today's economic times to the past. The point is this, when you say Congress has the power to coin money it was to deal with foreign trade, not domestic trade. That is why we had different forms of currency for years until the mid 1860s. It wasn't giving Congress the power to control the money supply. That was set up by the people and today mainly the banks. Ruml's comment was in response to the end of the gold standard and it not related to MMT. Again, the Federal Reserve controls the money supply, not the federal government. The federal government never had that power nor should it. You pick one comment from one person and completely misrepresent it proving that once again supporters of MMT have a 3rd grade understanding of economics.
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  33. Henry, I know what inflation is, we had hyperinflation in the 60s and 70s. To counter that the Federal Reserve raised interest rates in the late 70s early 80s to 21% to slow down economic activity. That resulted in Carter losing the presidency. That is why the federal government does not control the money supply. If they did they would push for short term goals to win elections instead of long term goals like the Fed does.
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  34. But please, explain inflation to me.
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  35. Henry, you have no clue what you are talking about. The Fed is private. And what do you mean "breakdown on the supply side"? MMT is a complete joke.
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  36. martynas, Volcker raised rates to slow down lending which lowered inflation. Interest rates were kept low because for years people followed the Phillips curve which said when inflation went up unemployment went down. That eventually broke down because investors soon realized that prices were getting way too high and thus something had to give. What gave was employment where people were laid off. Thus Volcker had to raise interest rates to slow down inflation. There is a desire to have inflation because people naturally want raises. Raises in wages means inflation. But inflation has to be controlled because if it isn't than prices go out of control where companies have to cut back meaning they cut back on employment. Thus raising interest rates is a way to slow down inflation. Raising rates do not add to inflation.
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  37. I love how supporters of MMT have no clue how basic economics functions.
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  38. Henry, the board of governors are nominated by the Senate, but it is tradition to leave them be unless something egregious happens. Also, other private entities are subjected to government oversight as well.
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  39. martynas, so you are admitting that more money will lead to higher inflation?
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  40. martynas, slow down in lending means less creation of money. Money is created by the inverted pyramid where a bank will loan out 90% of what they have creating more capital. When you slow down lending you slow down the creation of money essentially. Government does not set the price. You seem to be confused on this issue.
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  41. In the US banks can only keep around 10% of the income that is placed in there by law.
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  42. To increase output you have to increase productivity. Just spending money does not grow the economy, producing does. That is why MMT is a joke. A video I saw literally had a flying guy throwing money around and things just appeared. It isn't that easy. If there isn't anyone to produce than nothing will be developed no matter how much money you created. The idea of just creating money to pay for things is not a novel solution. That is what the Romans did when they started producing coins with less gold in it to create more currency. Zimbabwe does it with trillion dollar bills. People who look at MMT as if it is some sort of new idea are fools. The only difference between that and what the Romans did is that now we have computers where you can just change numbers on a screen. But the basic idea of creating money to pay for things still is in place, it doesn't work.
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  43. The economy is growing. You have to take a step back before going forward. A larger economy means more tax revenue thus paying off of the debt.
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  44.  @clintholmes2061 , nice rebuttal, really changes my perspective on things. Just got back from getting my pants sewn. The owner of that company is doing well due to the strong economy. Same with other businesses in my area. Trump is doing well.
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