Comments about ‘Tea Leaf: Rambling about U.S., world economy’

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Published: Tuesday, June 28 2011 3:00 p.m. MDT

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What in Tucket?
Provo, UT

In my home we have to balance the budget or my wife bust's me. Seems to me a balanced budget amendment is the only thing that will work. It works for Utah. Keynsian stimuli have never worked and there are many, many examples. For every dolar you put in you get 80 cents back. Guess you make it up on volume. The solution is the free enterprise system. take off the restraints and let it go. And stop spending!

Spanish Fork, UT

"We can get a firm handle on future government spending and bring annual budget deficits back to affordable levels."

Yeah? Who's going to do that? Democrats? Republicans? I have no confidence that ANY politician is going to make the hard choices that need to be made.

I'm generally a very optimistic person, but I'm having a hard time of it lately.

Alpine, UT

Jeff and What In Tucket:

Spot on! The key issue is that once hooked on heroin, i.e. debt, the public is loathe to give back the ill-gotten gains the debt brought, and accept a lower standard of living. Even worse, the new standard of living sans the debt is even LOWER than it would have been had the debt never been incurred. The combination of interest payments, principal payments, and the higher interest rates that result from the debt binge eat into funds that otherwise would have been available to save or consume. So the result of more debt will only be a lower long-term standard of living.

It's time to take the pain, slow the economy by stopping the spending, and then get government out of the way of entreprenuers and those who are willing to work hard. In the end, everyone would be better off.

Salt Lake City, UT

What are you talking about Mr. Obama? Vice President Biden announced months ago that the recession is over, Mission Accomplished! Tax and spend our way to prosperity. Even Paul Krugman admitted that we need another war like WWII to turn the economy around as it did in the forties. I hope it was hyperbole, our three current wars are more than enough.

Cedar Hills, UT

With Obama at the helm its like having Lloyd Christmas driving the train over the edge of the canyon. Dumb and dumber. Obama was supposed to be soooo smart but then reality set it and people realized this green horn had zero experience with anything other than community organizing. No experience as a governor. No experience as a CEO. Only 1 year as a congressman. It doesn't get any greener than that. And we all elected him?? Is anyone surprised with the state of the union? You shouldn't be. The blame Bush crowd wore out that card 18 months ago and are now left grumbling silently as to why Obama and his wealth redistribution - spend and borrow - economic insanity is doing exactly as many predicted it would. There ain't no magic here folks, capitalism is being strangled to death by Obama and the ONLY remedy is to cut our losses and start over with a new president who actually knows something about economics and capitalism..... and who isn't a socialist.

conservative scientist
Lindon, UT

Excellent commentary by Mr. Thredgold. Points very well made.

Kaysville, UT

The sky if falling, the sky is falling.


Sugar City, ID

What was the threshold number that so alarmed the Republicans? $12,000,000,000,000? $13,000,000,000,000? Certainly not $10,000,000,000,000.
When the Republicans took over from the Clinton presidency, there was a surplus. A debate arose concerning what to do with the surplus. The extreme left wanted to use the money as a down payment for government programs. The right wanted to return it to "the American people" with almost all of the tax cuts going to the upper 5%. Some in the middle wanted to gear the tax break towards the consuming middle class. If people are buying then things are being made. The right won. The tax cuts to the wealthy did not pay for itself nor did it trickle down. No new jobs were created but the wealthy increased their share of the national wealth. Now all of the sudden the world is coming to an end unless we cut spending. And the Republicans would rather that happen than to undo the tax cuts to the wealthy. Well, let come to an end.

Mcallen, TX

How scary--obama's in the drivers seat. Put on your seat belts.

Salt Lake City, UT

Interesting ramblings and FDRfan I love revisionist history and unbias analysis, thanks!

American Fork, UT

Cutting spending will only hasten the economic collapse. Put on your seatbelts and hang on. It's necessary but it will be painful. Let's clean up this mess.

Howard Beal
Provo, UT

Let's just blame the teacher unions...

Indian Expat
Bangalore, Karnataka

This article is so glib. There are two parts to the business of government: income and expenses. This article only focuses on the expenses of the US gov. But what about income? Nowhere here does the writer note that the Republican Senate cried like a baby until the Bush tax cuts were extended. The non-extension of a temporary tax cut on the rich certainly would have brought money into the coffers, allowing the debt to be paid down. Where is the discussion on that point? Where is the discussion on the fact that the richest individuals in the US have an effective tax rate of 15-20% thanks to the capital gains rate? I'm a CPA so I see this firsthand every year. It's extremely unfair to the rest of us not blessed enough to be trust-fund babies.

While the writer didn't come right out and say he's an Obama-hating Republican, it's quite clear. Deseret News, care to employ me to write about the other side of the debate? Or are we only concerned with one side?

Sugar City, ID

L left out the group that wanted to use the surplus to pay down the debt. That was the other side to Keynesian economics. The burden to reverse the trend of deficit budgets must be shared but STARTING with reversing the Bush tax cuts for the top 5%.

Mcallen, TX


Obama has set a worlds record for spending and you keep giving history lessons on George Bush. Wer'e spending ten million dollars a day fighting in Libya and have tripled the amount of troops in Afganistan the past two years. We need to fix the problem and quit playing the blame game.

Salt Lake City, Utah

Obama talks about cutting out national debt by $2 trillion over 10-years ..... while requesting a $1.4 tillion increase this year in our debt ceiling.

Makes a much sense as an alcoholic asking for more booze to help him kick his drinking addiction.

Salt Lake City, UT


It's true that saving and building up a reserve during plentiful times is a necessary side to Keynesian economics, and if that doesn't happen, Keynesian economics will fail. Two points though:

Do you ever see the American people (or government, for that matter) ever being responsible enough to not spend the surplus when they have it? Even if we had a huge surplus, the government would find something to spend it on. Keynesian economics is completely unrealistic based on that alone.

Clinton's surplus is a nice talking point, but not quite as rosy as most people think. It was fueled on a massive economic bubble which burst shortly after he left office, not to mention the fact that most of the surplus was only projected, based on the current economic conditions. Anyone familiar with the dotcom burst would know that those conditions changed rapidly shortly after he left office.

Still, even a projected surplus is better than what we have now. I'd rather have Clinton than Bush or Obama, and that's saying something.

Draper, UT

As we listen to the constant bickering about what to cut here and who to tax there, I am amazed that never once has cuts to foreign aid been mentioned. I am tired of sending millions and billions to foreign countries, especially ones who are happy to take our aid while plotting to kill Americans. It's time for the United States to quit trying to buy allies and take care of its citizens here at home.

Sugar City, ID

I agree with you on all points. The objective is to have the discipline to do what is right. The problems are a non engaged electorate, spin masters and hired guns as talk show hosts. Just pay attention to the state of agitation and hatred from those who regularly listen to such shows. Can we expect rationality from such?

Deep Space 9, Ut

To "Pagen | 9:24 p.m." wow, that is one of my favorite dead horses that you continue to beat.

First off, Bush did not double the debt compared to the 2000 debt levels. In 8 years Bush increased the debt by $4.3 Trillion, which means that the debt increased by 77%, or a factor of 1.77. Now, so that we have the same comparison point, since Obama has been in office, using the 2009, 2010, and 2011 budget years only, the debt will increase by $5.158 Trillion in 3 years, and by the end of the 2012 budget year is expected to be close to $6.4 Trillion. So, 4 years of Obama gets us nearly 50% more debt than 8 years of Bush.

So, can you tell us why Obama is so great if he is outspending Bush at a rate of over 2 to 1?

If Bush's unfunded war is so bad, why is Obama's so good? See "Obama's Unauthorized war on Libya costs $9,421,000 a day: Are you getting your money's worth" in the LA Times.

So, if what Bush did was wrong, why is it that Obama is good for_the_same_things?

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