Market crushed
- Thread starter Jazz4ever
- Start date
1: You didn't even accurately summarize his plan. He's saying cut 1% every year. You said: "Did you guys know if our government reduced spending by 1% accross the board we would have a balanced budget in 7 years and be completely out of debt in 10 years." That makes it sound like a one-time 1% cut. Then again, you're probably one of JSL's friends (
), so I don't expect you to understand why those two things are VERY different, especially when stretched out over a decade.2: His "baseline" argument is the same mistake made by the S&P rating agency. For details on why that leads to a $2 trillion math error (although they're a little policy-wonkish) you can see here: https://www.treasury.gov/connect/blog/Pages/Just-the-Facts-SPs-2-Trillion-Mistake.aspx
3: Paul's argument relies upon the belief that cutting spending leads inevitably to rapid economic growth (changing the denominator). This is the same math that allowed Paul Ryan to claim that he solved the long-run deficit and has been roundly debunked.
4: It's actually a lot more than 1% cuts when you take into account inflation over time. The stated goal is to take government spending down to 18% of GDP. That reduction, in real terms, would be the equivalent of cutting the entire US defense budget. Twice.
So in summation, yes, I know more than one of the looniest US Senators currently sitting. And you should be ashamed of yourself for not knowing more than him too.
candrew
Well-Known Member
File this under rather be lucky than good:
I sold all my stock in August of 2008 about 3 weeks before the market crashed because I just closed on my house and I had almost no cash.
I just made a huge killing two weeks ago when I sold cheap stock I bought in early 2009 (mostly GE) only because my wife has been bitching to me for a new car.
PM me if you'd like to subscribe to my newsletter
I sold all my stock in August of 2008 about 3 weeks before the market crashed because I just closed on my house and I had almost no cash.
I just made a huge killing two weeks ago when I sold cheap stock I bought in early 2009 (mostly GE) only because my wife has been bitching to me for a new car.
PM me if you'd like to subscribe to my newsletter
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