The Final Presidential Debate Covered Much We'd Already Heard and One Thing We Hadn't
It's the debt, stupid.
Today, everyone will be talking about about rigged elections, leaked emails, and puppets in the wake of the final presidential debate of the 2016 election. But one much-overlooked aspect of last night's debate was that moderator Chris Wallace finally brought up, in the final ten minutes, a topic no previous moderator bothered to touch: a little thing called "the national debt."
Both candidates were predictably disappointing, with Trump wanting to cut taxes and raise spending while ignoring that it would explode the debt, and Clinton wanting to raise spending and raise taxes while denying any negative effects on job growth. Debt denialists in both parties tend to ignore the belief of mainstream economists that a high threshold of government debt correlates with low economic growth.
Watch the video above for Reason TV's recap of the final presidential debate.
Produced by Zach Weissmueller.
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Everyone?!? I doubt anyone I have face to face conversations with today will be bringing it up.. Hell, nobody talked about it at the parent teacher conference I had this morning.
Mr Weissmueller, have you considered that perhaps the reason why it seems like everyone is talking about it is because you hang out with a pretty vapid group of people? Maybe you should change your social circle a little.
No you're a towel.
We're all towels now.
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So Tulpa is Towlie?
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I think people out in the non-Internet real world are politely sidestepping face-to-face discussion of the election. Probably partly out of disgust, partly out of fatigue.
Just so.
I think this election is so polarized that most people who aren't paid to jabber about it are keeping their yaps shut, because they understand that no discussion of the candidates can possibly be constructive and/or change anyone's mind.
Yup.
Probably partly out of disgust, partly out of fatigue.
"No, politics!" was the rule at a recent family reunion. "So... anybody seen the new Ghostbusters movie?" didn't go over so well.
Yeah, a lot of people are either not giving a shit or making a point to avoid it.
But I think we can figure out what he actually means fairly easily.
They'd be talking about the Project Veritas videos if reason would write about them.
Well, apparently O'Keefe has a reputation for editing videos in a disingenuous manner or to advance a narrative, AKA what the media already does. Of course, I am not one to gainsay whether or not anything the videos show is true, but given this is my first experience with James O'Keefe, he's innocent until proven guilty in my eyes.
Heck, we won't have to worry about the debt if Clinton is elected. Once she launches the Great Patriotic War Against Russia For The Glory Of Queen and Empire, nobody will be thinking about debt or deficits.
The best thing about this election ending is not having to see these assholes' faces in the H'n'R feed twenty times a day.
Trump looks like he's doing his best "I'm pissed and you don't want to fuck with me" face. And Clinton looks like she has to take a big shit. And she must have a bout an inch of makeup on her face.
The next 4-8 years is going to be something.
"the belief of mainstream economists that a high threshold of government debt correlates with low economic growth"
- What is a high threshold? Do you mean high level? Or do you mean to say that there is a threshold over which higher debt tends to correlate with lower growth rates?
- The economists' contention is for countries with governments that issue debt that is (rationally) expected to be paid back in real resources, which are squeezed from future domestic taxpayers via normal tax channels. But when the debt is in the form of promises to pay creditors in terms of fiat currency ? and one that is the reserve currency for much of the world, ? all holders of the currency and currencies tied to it pay via the inflation tax, a.k.a. debasement. The US debt will never be paid in real things, only more debt.
That is how the system is designed - borrowing money into existance makes the money less valuable so, even at zero interest, you cannot pay all of it back without borrowing more to make up the shortfall, making it worth even less less.
But...but...but isn't debt a kind of wealth? (snicker)
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