Rational Nation USA

I was once a republican. I believed that maintaining the national debt at a manageable sustainable level is important. The Republican party said they did as well. I believed that annual budget deficits were often unavoidable during recessionary cycles but knew that during grow cycles budgets needed to be balanced in order to be able to sustain a manageable national debt level. I thought te Republican party believed the same. I was wrong on both counts as the Republican party has been most responsible for our national debt explosion every since Ronald Wilson Reagan was our president. It continues under Trump unabated and NO ONE   in the Republican party is even talking about the national debt or budget deficits any longer. It’s like no one cares anymore. Likely that is because they don’t. The Republican Party aversion to raising taxes during growth cycles is stuff of legendary proportions. Even though that is how debt control works. Reducing taxes to “stimulate economic...

by: Les Carpenter Rational Nation USA Birthplace o Independent Conservatism Liberty -vs- Tyranny As the chickens come home to roast... Unbelievable we have been this stupid. ( Reuters ) - Global leaders on Saturday arranged a round of emergency calls to discuss the twin debt crises in Europe and the United States that are causing turmoil in financial markets . After a week that saw $2.5 trillion wiped off global stock markets, they are under pressure to show political leadership and reassure markets that Western governments have both the will and ability to reduce their huge and growing public debt loads. French President Nicolas Sarkozy, who chairs the G7/G20 group of leading economies, conferred with Britain's Prime Minister David Cameron ahead of a call planned for this weekend by G7 finance ministers and central bankers. "They discussed the euro area and the U.S. debt downgrade. Both agreed the importance of working together, monitoring the situation closely ...