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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (474312)4/23/2009 12:35:53 PM
From: Tenchusatsu2 Recommendations  Read Replies (3) of 1577024
 
RW, quite a few lies in that column:

> The truth: No one's paying new taxes directly related to the bailout.

A convenient dodge. Of course the Democrats aren't issuing taxes "directly related" to the bailout. Instead, they're just borrowing over a trillion dollars per year. So much for PAYGO.

You used to be a "deficit hawk," so I'm surprised you didn't see right through this B.S. immediately.

> Our national debt already stands at $11 trillion. Most of that debt was run up in the last eight years, when government spending outpaced declining tax revenues. The Iraq war is close to costing the nation $1 trillion. Hurricane Katrina cost us about $110 billion.

a) Tax revenues did not decline, but rather increased over the past eight years.

b) The cost of the Iraq War is currently $659B, or $110B every year. Chump change compared to the bailout.

c) The fact that the national debt increased by leaps and bounds during the Bush administration is no excuse to increase it by even bigger leaps and bounds under Obama.

And here's my favorite line:

> But potential losses aren't the same as real ones.

Sounds like an argument CJ would make. Can't wait for the "potential losses" to actually get realized in the form of massive inflation.

Tenchusatsu
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