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      08-05-2011, 05:19 PM   #31
Echo M3

Drives: E90 M3
Join Date: Sep 2009
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Originally Posted by 11Series View Post
OK, so we agree that we have tools that were successful in the Great Depression, but you don't want to use them because we would go into debt to use them.

or there is another option....

How did they fund the infrastructure projects in the Great Depression?
Hint: Revenue Act of 1932

How did Clinton fund the balancing the budget? Reagan ran up the debt to 17-18 Trillion dollars (adjusted for inflation). Reagan put us in worse debt in the 80's than we are now, and Clinton was still able to balance the budget. Clinton did something to the tax code that helped balance the budget... What was it again???
Clinton had something at his disposal that we do not: a GROWING ECONOMY. Same goes for 1932. You are advocating raising taxes in a stagnant/receding economic climate??

You will get your infrastructure built, but at the cost of throwing the economy into a deeper recession than before.