Maggie's Farm

We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.

Our Recent Essays Behind the Front Page

Much Sorry with Delays
Birth, Death and All That Stuff in Between
How to Honor Labor Day, Every Day
My Yom Kippur Miracle (Repost from 2010)
Good intro to fly casting
Peach update, with pie
NYC update
Easy for you to say: To the elites on mass immigration
For NYC on 9/11, Sailors' Snug Harbor
Pickled Peaches
Water Shoes
Labor Costs in U.S.
Your "identity"
Good news about The Great Courses
Uses of Hot Pepper Jelly/Sauce, Chutneys, and Jams
A Saturday Drive to Litchfield County, CT
How to Pick a Kayak
Civilized: Fruit forks and knives
Loads of kayaking on Cape Cod
Psychology Experiments' Questionable Results

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Tuesday, December 13. 2022

Tuesday morning links





Posted by Bird Dog in Hot News & Misc. Short Subjects at 09:00 | Comments (18) | Trackbacks (0)

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"VDH: Our Parasitic Generation" Unfortunately VDH is spot on as usual. It makes one weep with sadness due to what has happened in a relatively short amount of time. Half of the country is quite willing to go along with the demise of the American dream. For those of us that have spent many decades in this country it is truly painful.
#1 JC on 2022-12-13 10:21 (Reply)
Yeah. That was a rather depressing reading.

Our educational institutions have never spent much time on the evils of communism. Growing up in the 70’s, we were taught all about the evil nazi’s, and rightfully so. Woodrow Wilson and FDR were placed high on pedestals. Nothing was said about the multi millions of people that the communists killed. Who’s Mao? Who’s Stalin? Look what those right-wingers tried to do to the good folks in Hollywood.
#1.1 B. Hammer on 2022-12-13 11:40 (Reply)
QUOTE:
VDH: Our Parasitic Generation

It's Hanson's usual Gish Gallop, designed to tickle the fancy of people who already agree with him. We'll start with just the first claim.

QUOTE:
We are $31 trillion in collective debt. The new normal is $1.5 trillion budget deficits.

Sure. But, deficits are not inevitable. For instance, the U.S. was running a cash surplus during the Clinton administration. However, in the following election, America had a choice of setting some of that money aside ("a lockbox"), or cutting taxes ("tax cuts pay for themselves"). Due to a peculiarity in the American electoral system, the minority won out with tax cuts.

U.S. Federal Deficit by President
 
#1.2 Zachriel on 2022-12-13 12:59 (Reply)
Since spending bills originate in the house, it is more reasonable to corelate deficits to who was in the majority in the house rather than who was president. The result ends up being much different.
#1.2.1 mudbug on 2022-12-13 13:22 (Reply)
The spending deficits are worse than the 31 trillion. That is using the cash accounting methods. Using the accrual accounting methods we are probably triple that number at least. I think that a law was passed to mandate accrual accounting several decades ago but the treasury simply won't comply.

https://www.cpajournal.com/2020/12/07/the-fight-of-a-lifetime/
#1.2.1.1 indyjonesouthere on 2022-12-13 17:56 (Reply)
indyjonesouthere: The spending deficits are worse than the 31 trillion.

Deficits for social spending in the United States, including Social Security and Medicare, are expected to be about $70 trillion over the 75 year timeline. To maintain benefits, increased taxes will certainly be required. The sooner action is taken, the less painful the solution will be.
#1.2.1.1.1 Zachriel on 2022-12-14 07:50 (Reply)
If the U.S. makes no changes, then, over the 75 year timeline, the deficit will climb to $350 trillion. This is mostly because the U.S. is not even currently paying its bills.

However, assuming 2% growth, in 75 years, the GDP will be about $100 trillion in 2097, and the U.S. will have produced about $4,000 trillion over the period.
#1.2.1.1.2 Zachriel on 2022-12-14 08:15 (Reply)
Those are all linear assessments in a world that is often non-linear.
#1.2.1.1.2.1 indyjonesouthere on 2022-12-14 14:00 (Reply)
indyjonesouthere: Those are all linear assessments in a world that is often non-linear.

Well, sure. So, are you saying that one can safely ignore your point about accrual accounting? Of course not.

While not everything can be known, some things can be reasonably estimated. It is a reasonable presumption that the United States will continue to run significant deficits if there is no change in policy. In addition, while disasters can and do occur, it is reasonable to put money aside for emergencies, rather than running up debt unnecessarily.
#1.2.1.1.2.1.1 Zachriel on 2022-12-14 14:37 (Reply)
You only need ask yourself how many times they have solved the social security funding and yet here we are, trying to solve it once again.

The best way to solve the political funding problem is to privatize the system and leave the politicians out of the funding and control which always leads to bigger and expanded programs. Leave funding level control to the individual just as a 401k does.
#1.2.1.1.2.1.1.1 indyjonesouthere on 2022-12-14 19:29 (Reply)
QUOTE:
“We’ve done all of this while lowering the federal deficit in the two years we’ve been in office $1.7 trillion,” Biden said before incorrectly adding, “Let me say that again — $1.7 trillion we’ve lowered the federal debt.”


The national debt was roughly $27.75 trillion when Biden took office, according to the Congressional Research Service. It is about $31.43 trillion today.

https://www.msn.com/en-us/news/politics/biden-falsely-says-he-cut-national-debt-by-2417t-e2-80-94-after-increasing-it-2437t/ar-AA15en47
#1.2.2 Zachinoff on 2022-12-13 14:23 (Reply)
The U.S. ran a surplus during the Clinton administration thanks to Newt Gingrich.
#1.2.3 OneGuy on 2022-12-13 18:35 (Reply)
OneGuy: The U.S. ran a surplus during the Clinton administration thanks to Newt Gingrich.

While Gingrich had an important role in welfare reform, Clinton had run on the promise to "end welfare as we know it."

The Deficit Reduction Act of 1993, which raised marginal tax rates and cut spending, led to the cash surpluses. It passed without a single Republican vote in Congress, with Vice President Gore cast the deciding vote in the Senate. Republicans predicted it would crash the economy. Instead, the reduction in federal debt helped fuel one of the longest peacetime economic expansions in modern American history. Many Democrats in Congress paid a political price.
#1.2.3.1 Zachriel on 2022-12-14 07:37 (Reply)
""Homeless" is a misnomer

"

These are drug addicts. Everyday they have to get some money to support their habit. Most often they commit a crime to get the money. The ACLU is most responsible for this mess. Make no mistake it is intentional. They want to make the country ungovernable
#2 OneGuy on 2022-12-13 10:27 (Reply)
Sam Bankman-Fried Did Not Kill Himself!
#3 Zachinoff on 2022-12-13 10:44 (Reply)
Do notice that SBF was going to testify to Congress and the day before that testimony he is arrested. TPTB need to control the narrative going forward. That is much harder to do if SBF starts blabbering ahead of the official narrative.
#3.1 indyjonesouthere on 2022-12-13 18:37 (Reply)
Re: SEC Files Separate Charges Against FTX CEO SBF For "Massive Years Long Fraud"

This is just to keep Congress from deposing SBF and to keep him otherwise quiet, probably so that he won’t incriminate elements of the Democrat party and the ruling elite. It likely has nothing to do with bringing SBF to justice either.
https://jonathanturley.org/2022/12/13/enough-of-that-the-justice-department-faces-questions-after-effectively-preventing-bankman-fried-from-testifying-in-congress/
#4 mudbug on 2022-12-13 11:35 (Reply)
The Washington Post is obsessed with race.
#5 indyjonesouthere on 2022-12-13 17:28 (Reply)

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