I heard someone on the radio say the creation of the Fed and the abandoning of the gold standard doomed our economy decades ago.

Yeah, they let anyone have a microphone these days.

It's easy(and quite popular)to blame the current administration, but in reality, Alan Greenspan is as much to blame as anyone else.

When you're right, you're right.  Reagan *AND* Bush should both get the blame for the mess they collaborated on.  But even Reagan left *SOMETHING* to build on, once he raised taxes to cover his earlier screwups.

Old, Yea that's right I know I am old. But Food doesn't taste as good as it used too.

Bill Lee's,Rice Bowl, Mexicali Basque food all of favorites of mine. But food that fed a Family of six in the 60's. Cost less then than what it costs to feed a lonely old man.

Yea, the food just doesn't taste that good anymore.

Random,

Reagen raised taxes you say. Sacrilegious.  

I almost starved to death during Reagan's "trickle down" reign.   That wouldn't happen to us now, but I would feel terrible for the young ones out there who are on a tight budget.

Of course this administration has nothing to do with the housing problems, oil quadrupling, a war on two fronts, bad responses to natural disasters, utility rates tripling, banks failing, taxpayers footing the bill for those failures, the dollar taking a huge dive, and Wall Street on the verge of crashing. When you are a Monarch, you're just a figure head. It's everybody else's fault. Now then, I'm off to the fox hunt, let them eat cake.

It's sorta like saying, "Hey, Ted Bundy had nothing to do with those murders, he's too handsome to need to rape and kill."

Well Aud, get ready for much worse (trickle up) under Barry then.

Two of the boys (one trucking co. owner and one welding co. owner) called last night as we talked about what Barry's $250K would do to us. You see $250K is nothing for a gross for a small business. Out of that you'd be lucky to net $100K. But barry's plan looks at the above the line gross as being eligible for new marginal rates as well as taking away AMT and other investment incentives.

I advised them to get ready for new pricing schedules (their suppliers will be) if Obama wins. They agreed.

Our higher prices will trickle up through the economy like scat through the goose and you may get a minor tax reduction under Barry, but trust me on this -- the increase in prices you will pay for goods and services will offset that by a factor of at least 10.

So be happy with your anti-trickle down theory. Until the BO Trickle UP theory kicks in!

Or we could put everything on the credit card like Bush did.

I assume that out of the gross income of 250 grand, that small business is paying salaries, expenses and taxes.   Perhaps they could ask people to work for free, ask vendors to give them services for free and ask the government to exempt them from paying taxes.  That way they could take home the whole enchilada.

We all have deductions made from our salaries. The bigger the salary the more gets deducted.   If we work overtime, our taxes go way uuuuuuppppp.   We just don't whine as much as self employed people do.

Cat it was Reagan who put everything on a credit card.  Clinton paid it off.

Oh I know, Mom.  Republican presidents LOVE credit cards.  Bush is just as guilty as Reagan was for taking no fiscal responsibility and expecting someone else to pay their bills. 

Reagan turned around and signed the largest tax increase in history--and things got better.  That's partially how Clinton paid it off.

Reagan may have been incipiently senile at that time, but he was demonstrably sharper than Shrub.

Clinton and Ruben started the credit and mortgage fiasco. Do some research.

As far as the other comments, I know now why you had to work for someone else.

No whining here, just don't want to hear it from you when prices go way up (ala Jimmy Carter -- int rates 20+%, Infl 13%, Unempl 7+%, GDP  "growth" negative 2+ successive quarters [true recession]........ live it, learn to love it.......

Clinton  "paid it off"  by cutting the crap out of the military, no war, raising taxes [even of SS]..........

Biggest thing he had going though was Republican Congress

Thats when he started doing better economically [spending curtailed, etc.]

Its the lead, follow, or get out of the way ethic. Clinton took the latter course....

Barry won't have Republican Congress to bail him out [curtail spending]

But you'll have to see it to believe it I guess............ Wonder how long blaming Bush will work

(but you're still blaming Reagan so I guess I answered my own question)

Prices have ALREADY gone up, Chico.  Are you not aware of the inflation we're experiencing?

And just curious, Chico--how much of the Iraq War have we paid out of our budget and not put on the credit card?  And how much money do we owe other countries (like China and Japan) while we make "loans" to GEORGIA to the tune of a billion $.  And WHY are we loaning countries money when we are so in the red ourselves?  And HOW is lowering our taxes going to IMPROVE our budget problems and our deficit?  Hey, the money for all these goodies has to come from SOMEWHERE.

"The Crime of the Century." Unsound money invites pervasive corruption from those close to the printing press, a principle that traces back to Ludwig Von Mises from his fiat money teachings. My maintained list of crimes of the century is long, starting with the Greenspan monetary drug dealer actions to create the failed bank condition (while taking a second Swiss paycheck), the Clinton-Rubin raid of the US Treasury gold supply (near zero cost leasing), the ongoing suppression of key prices (gold & silver in the futures market), the price capping of long-term USTBond yields (in futures market and credit derivatives managed by JPMorgan), the continued Enron accounting in the hidden banking system (see off balance sheet charade in defiance of BIS & G7), then the export of fraudulent US-based mortgage bonds worldwide (Wall Street handiwork).

The point is CB, raising taxes and protectionism (with increase co. regulation, etc.) all Barry proposals BTW -- will only serve to make what you are complaining about far far worse!

What I'm complaining about is the skyrocketing deficit.  LOWERING taxes (Bush's big idea--in the wake of wars on TWO fronts!) will continue to increase the deficit.  See, taxes are like income--for the government.  If you choose to lower your own income (taxes) but you decide you can't live without all that new stuff  you want (like a war,) but you're also unwilling to give your stuff back (like pull out of Iraq) then you must "buy" that stuff on credit.  Then, when you die (or are termed out of office, in this case) SOMEONE is left holding the bag on all your purchases (in this case, the taxpayers of the future.)

And don't make me LAUGH about regulation!  We are witnessing EVERY DAY what happens when companies are given enough rope to hang themselves--and guess who pays for that, too?  The TAXPAYERS!

Talibangelist-

lewrockwell.com

mises.org

The currency is artificial. There isn't anything behind it but reputation. And that's going away. Keynes himself, considered father of modern economics (fiat), admitted that this system only works during a depression. He was wrong, it never works, but still the point is, it isn't supposed to work.

I still think you really mean the National Debt, not the deficit. The deficit is just a fiscal year snapshot, a P&L if you will.

The National Debt is almost 10 Trillion now but if you include the off bal sheet items like SS and Medicare, etc. it would be more like 53 Trillion. And we are adding to it daily with all these bailouts.

Repub or Dem or Ind, we should all worry about the fact that. Bush, Repubs, Dems, have done an abysmal job of handling the National Debt. No matter what taxation policies have been applied in the past, the truth is about 18 to 19% of GDP is all that will come in as revenue. It is the spending that has gone out of control, and certainly the Iraq War is a large contributor. Barry will keep that going (trust me) and he will in addition add Trillions during his 4 or 8 years. McCain is the only hope to quell some of the spending. But believe what you choose to.........

This Dem Congress and Senate with a Dem WH will drive our economy (bad as it may already be) into the ground. But I know, you will have to be shown. And that is OK..... it is what it is.......

So Chico-  Basically if Obama get's elected, the world will end then huh? 

Hey, I'm all for lower taxes, and if republicans are so inline with being "Fiscally Responsible" then why haven't they cut spending at all? 

Bill Clinton and the Republican congress were lambasted for cutting military spending in the 90's.  Mostly by the old school Regan heads. 

If republicans are for smaller government, then why did it grow under Regan, grow under Bush 1.0 and is still growing under Bush 2.0?  

Becasue all polticans are scared to cut government funding where it will truely affect people loosing thier jobs in that sector. 

This Dem Congress and Senate with a Dem WH will drive our economy (bad as it may already be) into the ground. But I know, you will have to be shown. And that is OK..... it is what it is.......

Maybe that's true, Chico.  I don't know.  What I DO know is that Bush has done our economy NO favors, and if McCain really is the deregulation King that everyone says he is, what with Phil Gramm as his economic advisor, then I'll take my chances with Door #3, since I already know Door #1 is Bush and Door #2 is...More Bush. 

I'm glad you have faith that I might learn my lesson should Obama further ruin our economy in 4 years, though, but what have the last 8 years taught you?  What MORE do you (and your fellow Republicans) need to see before you are "shown?"  Seriously.