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“Governments don’t reduce deficits by raising taxes on the people; governments reduce deficits by controlling spending and stimulating new wealth.” —Ronald Reagan GREECE isn’t the only country to try spending its way to prosperity, and soon enough finding a sure way to poverty.

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Editorial, Pages 18 on 07/21/2011

Print Headline: This is no time . . .

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  • GeraldWells42
    July 21, 2011 at 12:22 p.m.

    Why you keep on idolizing FDR is a puzzle to me. FDR and his policies that were enactied only prolonged the Depression. In 1939 or so his Secretary of Treasurer said something to the effect, "we (FDR and the Congress) have spent billions of dollars and it has not gotten us of the Depression". It was not World War II that actually got us out, but the pent up demand after the war. But we are still suffering the effects of the New Deal legislation. One example is the creation of the National Relations Labor Bureau where it is now trying to control where a business may locate its facilities, Boeing and South Carolina. Other piece of legislation was the Social Security Act which is still haunting his still. Is was and still is nothing but a Ponzi scheme. The Constitution does not give the power of the government to steal income from someone (FICA)to give to others. And, also, it is one of the many ways that has forced people to become dependent upon the government, along with food stamps, welfare among others. If Social Security, Medicare & Medicaid are not fixed now, when? Certainly not in the future for that will never happen. This is until we become Greece. If deficit spending is not brought under control now, when? I think that the balance budget amendment is a good start and the process should be started now, not delayed. But in the meantime, the over spending has to stop now.

  • Coralie
    July 21, 2011 at 12:47 p.m.

    GeraldWells says "the Social Security Act which is still haunting his still. Is was and still is nothing but a Ponzi scheme."
    According to this, all insurance policies are Ponzi schemes.
    In fact, one might say that all investment is a Ponzi scheme.

  • GeraldWells42
    July 21, 2011 at 1:36 p.m.

    A Ponzi scheme "is a fraudulent investment operation that pays returns to separate investors, not from any actutral profit earned by the organization, but from their own money or money paid by subsequent investors". Hence, social security is a Ponzi scheme. Your next two sentences are not true because your premise is wrong. One can say that all investments are gambles for one does not know the outcome of the investments whether the investment is in stock, bonds, a business, etc.
    The risk may be high or low, but it is still a gamble.

  • GrimReaper
    July 21, 2011 at 3:34 p.m.

    "The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.....Roosevelt's policies were very destructive. Roosevelt's policies made the depression longer and worse than it otherwise would have been."
    Milton Friedman

    FDR was also one of the worst violators of the Constitution to ever occupy the White House.

  • Coralie
    July 21, 2011 at 5:08 p.m.

    Gerald, what actual profit is earned by an insurance company except from subsequent investors? How does it differ from Social Security except for the fact that insurance companies make profits for their stockholders?

  • ImUnarmed
    July 21, 2011 at 5:33 p.m.

    The Reagan quote is an excellent joke.

    "Reagan of course never balanced a budget, on the contrary he was responsible for record deficits as high as 6% of GDP, almost tripling the national debt. Neither did he control spending – he presided over a 69% increase in federal spending, much of which went to the military. He raised taxes on the people no fewer than 10 times during his tenure, including a massive tax hike in 1982 in the middle of a recession. No question, Reagan knew what he was talking about. He’s exactly the right person to ask for advice about balancing the federal budget precisely because he never managed to balance his budget, just as in our little Arkansas media world, ADG columnist Bradley Gitz is the right person to lecture Obama on economics precisely because he declared bankruptcy a few years ago. Yes, bankrupt deficit spenders are the fiscal experts of the hour. We need to hear more of their advice!"

    arkansasmediawatch.wordpress. com/2011/07/21/adg-fun-with-reagan/

    Just recently, Bradley Gitz managed to pack 9 lies about Reagan into a single paragraph. Do Arkansas Democrat Gazette editors have any sense of responsibility? Apparently their role model is Rupert Murdoch. Shame.

    arkansasmediawatch.wordpress. com/2011/07/11/bradley-gitz/

  • DontDrinkDatKoolAid
    July 21, 2011 at 6:43 p.m.

    The moron still has not come to understand, cause and effect in the matters of history.
    ~
    Coralie it goes to motive and intent. I do not see you going far in this matter.
    ~
    Gerald, oldpatriot good to see the two of you.

  • ImUnarmed
    July 22, 2011 at 10:06 a.m.

    Right-wing lunacy truly is a cult, as amply demonstrated by Arkansas Democrat Gazette editors and their sorry trolls.

  • Populist
    July 22, 2011 at 10:46 a.m.

    Oldpatriot,

    O.K. Let's not blame the Depression on Roosevelt who did not take office until March 4, 1933. Hoover was in office during the crash and the next couple of years of drops. At the least, FDR was a comforting presence during times of uncertainty. Many of the great public works built during the Depression still stand in Arkansas. Many of the lake projects, dams, and even parts of the Little Rock zoo are still enjoyed by Arkansans today.

    Apparently the Gang of 6 and Obama are pushing a plan which is hated by the far right (against any tax increases on the wealthy) and the far left (against any belt tightening on entitlements) so it is probably a pretty good place to start. When the loonies on the right and the loonies on the left are all upset, it must be good. We've simply just have to exercise reasonable prudent fiscal management. The rich should be taxed appropriately and we need to make sure that welfare is not too attractive an option for those who want to take advantage.

  • Coralie
    July 22, 2011 at 4:16 p.m.

    Maddjackk says "Coralie it goes to motive and intent. I do not see you going far in this matter."
    The motive and intent of a Ponzi scheme is to make profit. The motive and intent of the insurance industry is to make profit--but that is not the motive and intent of Social Security.
    So what did you mean?

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