National Debt growing...Again??
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From: Toronto, Canada
Simple, $1.3 Trillion tax cut. We are borrowing money to give to ourselves. It's like taking a cash advance on a credit card to pay your minimum payment. "Say" there is a surplus but really just borrow the shortfall and enough to give some back.
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From: Nashville
This is sort of where I was going cthree! If we are spending more than we are bringing in, why would we give $ back?
Scot
Scot
Originally posted by cthree
Simple, $1.3 Trillion tax cut. We are borrowing money to give to ourselves. It's like taking a cash advance on a credit card to pay your minimum payment. "Say" there is a surplus but really just borrow the shortfall and enough to give some back.
Simple, $1.3 Trillion tax cut. We are borrowing money to give to ourselves. It's like taking a cash advance on a credit card to pay your minimum payment. "Say" there is a surplus but really just borrow the shortfall and enough to give some back.
Joined: Oct 2000
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From: West Deptford NJ
Originally posted by babylou
I'm in the oil biz and there are no special tax breaks for oil companies. There also has been a depletion of reserves for two years now.
I find it funny that Americans are willing to pay $8/gallon for bottled water with little spouts and bitch when gas is $2/gallon of which $0.35 is taxes.
Originally posted by Zippy
So that we can give tax breaks to the oil companies. It's amazing how we have a surplus and in a few months it seems to be evaporating. It's also amazing how we can go from an oil glut to a shortage in a few short months. Old economy new economy, it all depends on who makes campaign contributions. 
Originally posted by Sunchild
It costs a lot to manufacture a fake energy crisis.
It costs a lot to manufacture a fake energy crisis.
I find it funny that Americans are willing to pay $8/gallon for bottled water with little spouts and bitch when gas is $2/gallon of which $0.35 is taxes.
I drink water out of the tap, but I find it funny that the oil reserves are being depleted.
Who has control of those reserves, could it be the oligopoly (or in this case the oilgopoly) that was once many oil companies that has magically be transformed into just a few. It seems to me that all those companies existed because Standard Oil (the monopoly that went around buying all of its competitors) had a habit of making oil very expensive. Just a thought.
Scot,
I agree, here in NJ we sold bonds a few years back so that we could make our state pension plan payments. This was coupled with a tax break. So what we did here was to sell long term debt to pay an operating expense so that we could give back taxes. A bit convoluted, eh?
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From: Laurel
The National Debt is a major factor in interest rates: Higher debt equal higher consumer interest rates because the Feds are borrowing more and available credit is reduced.
Did you think oil-based campaign donors would be the only ones to get paid off?
Our economy also requires a certain level of unemployment to ensure that salaries remain under control (low.) All of the talk about layoffs on this board (and the fact that the Washington Post Tech Jobs section went from 75 pages to 8) indicate that this will be a banner decade for corporations.
[Edited by jschmidt on 05-20-2001 at 09:29 AM]
Did you think oil-based campaign donors would be the only ones to get paid off?
Our economy also requires a certain level of unemployment to ensure that salaries remain under control (low.) All of the talk about layoffs on this board (and the fact that the Washington Post Tech Jobs section went from 75 pages to 8) indicate that this will be a banner decade for corporations.
[Edited by jschmidt on 05-20-2001 at 09:29 AM]
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From: Dunnellon, FL
Those damm Democrats, they are to blame for all thats wrong witn our country! Wait a second. There is a Republican in office now. Those damm Republicans! They are to blame for all thats wrong with our country. 
Don
Don
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