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According to our experience of the last 7 years, we should expect interest rate cuts, tax cuts, and more fiscal expansion either at the same time or in some seq

According to our experience of the last 7 years, we should expect interest rate cuts, tax cuts, and more fiscal expansion either at the same time or in some sequence. Each of them will help solve our problem. There is no fiscal conservative left in America.

voisin 2y ago
> There is no fiscal conservative left in America. Truer words have never been spoken. Fiscal conservatism died with Reagan.
- sanp 2y ago
  Yes, Reagan the fiscal conservative who tripled the deficit and national debt: https://www.pbs.org/wgbh/commandingheights/shared/minitext/ess_reaganomics.html https://www.pbs.org/wgbh/commandingheights/shared/minitext/e...
  - imtringued 2y ago
    Greek austerity imposed by Germans had resulted in the doubling of debt as percentage of GDP.
    - Rinzler89 2y ago
      Which Germans imposed Greek austerity? AFAIK Greek austerity was imposed by Greece's major creditors, but Germany was only one of many.
      - buran77 2y ago
        Between Brussels and Frankfurt (EU institutions I mean) the general consensus was that the Greek situation was more akin to loansharking than anything else. And Germany was undeniably the largest driving factor behind this approach, and the country that most benefited from it.
        Rinzler89 2y ago
        But what was the better alternative for Greece?
- MisterBastahrd 2y ago
  In what way was Reagan a fiscal conservative other than making the poor targets for pain? He destroyed half the social safety net in this country while running on a hideously bigoted platform and STILL ended up spending an insane amount of money compared to his predecessors. The only fiscal conservative of the past 50 years in the White House was Bill Clinton.
  - Slava_Propanei 2y ago
    [dead]
  - MathMonkeyMan 2y ago
    I saw an interview where Bill quipped "You know how we balanced the budget? We used a little thing called 'arithmetic'."
    - lostlogin 2y ago
      Imagine a candidate who could make a quick, sharp and accurate quip. Out here in the wider world, American elections are more terrifying every time they come around.
    - silverquiet 2y ago
      That one of the two American political parties believes they can lower the deficit by cutting taxes (primarily for the wealthy but that's immaterial to the basic math here) has always created some sense of unreality for me; I really no longer understand what the goal is for many of these people and I often think that they don't really know either. It's almost pure nihilism except when it comes to lust for power.
      - jpgvm 2y ago
        It's much less deep then nihilism. Their goal is simply to live their life as richly as they can at the expense of those they consider less than themselves. They are the wealthy and they act accordingly. Why anyone sees Republicans as anything else boggles my mind. Anyone who isn't a billionaire and is voting Republican may as well be a turkey voting for Thanksgiving.
- deleted 2y ago
  [deleted]
- unyttigfjelltol 2y ago
  Fiscal conservatism died with fiat and John Maynard Keynes' "In the long run we are all dead."
- trts 2y ago
  maybe more like Bush. Clinton was the last president who oversaw a brief surplus in the federal budget and once said "the era of big government is over". pretty wild to think that surplus was in part driven by the internet boom. now we have some kind of stock market boom while the federal deficit is 10% of total GDP and national debt is growing by a trillion dollars (a million times a million) every 100 days or so.
bongodongobob 2y ago
"Fiscal conservativism" is the equivalent of a household not purchasing any insurance, not going to the doctor or dentist, and saying "look how affordable everything is if we cut out all those stupid things? It's wasteful spending!" Then you get into a car accident, go to the hospital, lose your job, and cry about the inefficiency of the market because you now have a huge bill that you can't pay. It's short sighted at best. True fiscal conservatism would be all about social safety nets and free education to grow the economy, but y'all just want to save a few hundred bucks on your property taxes, everything else be damned.
- bugbuddy 2y ago
  You are using a straw man. The reason we have a democracy and freedom of speech is so that each of us can voice our opinions and vote for those that share them. Unfortunately, nothing is perfect.
  - bongodongobob 2y ago
    I'm using the term as it's used 9/10 times it comes up. I've never in my life met a self proclaimed fiscal conservative that didn't just mean "I want lower taxes". The way to lower taxes is a healthy and intelligent population. That is seen as a cost but is actually an investment that pays massive dividends. That's what a fiscal conservative would do, invest at the societal level. Otherwise they're basically just a libertarian.
    - latency-guy2 2y ago
      So a strawman. You set up the premise, you set up your misunderstanding, and then expect everyone else to follow your misunderstanding. You've even redefined what a "fiscal conservative" would actually do (if you were the one defining it). Then you pulled in "libertarian" out of nowhere. Which is an obvious set up for another strawman, so lets lean into it. Whats a "libertarian"?
      - ben_w 2y ago

voisin 2y ago

> There is no fiscal conservative left in America. Truer words have never been spoken. Fiscal conservatism died with Reagan.

sanp 2y ago
Yes, Reagan the fiscal conservative who tripled the deficit and national debt: https://www.pbs.org/wgbh/commandingheights/shared/minitext/ess_reaganomics.html https://www.pbs.org/wgbh/commandingheights/shared/minitext/e...
- imtringued 2y ago
  Greek austerity imposed by Germans had resulted in the doubling of debt as percentage of GDP.
  - Rinzler89 2y ago
    Which Germans imposed Greek austerity? AFAIK Greek austerity was imposed by Greece's major creditors, but Germany was only one of many.
    - buran77 2y ago
      Between Brussels and Frankfurt (EU institutions I mean) the general consensus was that the Greek situation was more akin to loansharking than anything else. And Germany was undeniably the largest driving factor behind this approach, and the country that most benefited from it.
      - Rinzler89 2y ago
        But what was the better alternative for Greece?
MisterBastahrd 2y ago
In what way was Reagan a fiscal conservative other than making the poor targets for pain? He destroyed half the social safety net in this country while running on a hideously bigoted platform and STILL ended up spending an insane amount of money compared to his predecessors. The only fiscal conservative of the past 50 years in the White House was Bill Clinton.
- Slava_Propanei 2y ago
  [dead]
- MathMonkeyMan 2y ago
  I saw an interview where Bill quipped "You know how we balanced the budget? We used a little thing called 'arithmetic'."
  - lostlogin 2y ago
    Imagine a candidate who could make a quick, sharp and accurate quip. Out here in the wider world, American elections are more terrifying every time they come around.
  - silverquiet 2y ago
    That one of the two American political parties believes they can lower the deficit by cutting taxes (primarily for the wealthy but that's immaterial to the basic math here) has always created some sense of unreality for me; I really no longer understand what the goal is for many of these people and I often think that they don't really know either. It's almost pure nihilism except when it comes to lust for power.
    - jpgvm 2y ago
      It's much less deep then nihilism. Their goal is simply to live their life as richly as they can at the expense of those they consider less than themselves. They are the wealthy and they act accordingly. Why anyone sees Republicans as anything else boggles my mind. Anyone who isn't a billionaire and is voting Republican may as well be a turkey voting for Thanksgiving.
deleted 2y ago
[deleted]
unyttigfjelltol 2y ago
Fiscal conservatism died with fiat and John Maynard Keynes' "In the long run we are all dead."
trts 2y ago
maybe more like Bush. Clinton was the last president who oversaw a brief surplus in the federal budget and once said "the era of big government is over". pretty wild to think that surplus was in part driven by the internet boom. now we have some kind of stock market boom while the federal deficit is 10% of total GDP and national debt is growing by a trillion dollars (a million times a million) every 100 days or so.

bongodongobob 2y ago

"Fiscal conservativism" is the equivalent of a household not purchasing any insurance, not going to the doctor or dentist, and saying "look how affordable everything is if we cut out all those stupid things? It's wasteful spending!" Then you get into a car accident, go to the hospital, lose your job, and cry about the inefficiency of the market because you now have a huge bill that you can't pay. It's short sighted at best. True fiscal conservatism would be all about social safety nets and free education to grow the economy, but y'all just want to save a few hundred bucks on your property taxes, everything else be damned.

bugbuddy 2y ago
You are using a straw man. The reason we have a democracy and freedom of speech is so that each of us can voice our opinions and vote for those that share them. Unfortunately, nothing is perfect.
- bongodongobob 2y ago
  I'm using the term as it's used 9/10 times it comes up. I've never in my life met a self proclaimed fiscal conservative that didn't just mean "I want lower taxes". The way to lower taxes is a healthy and intelligent population. That is seen as a cost but is actually an investment that pays massive dividends. That's what a fiscal conservative would do, invest at the societal level. Otherwise they're basically just a libertarian.
  - latency-guy2 2y ago
    So a strawman. You set up the premise, you set up your misunderstanding, and then expect everyone else to follow your misunderstanding. You've even redefined what a "fiscal conservative" would actually do (if you were the one defining it). Then you pulled in "libertarian" out of nowhere. Which is an obvious set up for another strawman, so lets lean into it. Whats a "libertarian"?
    - ben_w 2y ago