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Re: [Phys-l] frizzi

Question:

Isn't it time to stop this off-topic thread?

KC

-----Original Message-----
From: phys-l-bounces@carnot.physics.buffalo.edu [mailto:phys-l-bounces@carnot.physics.buffalo.edu] On Behalf Of John Denker
Sent: Saturday, 20 August 2011 5:54 PM
To: Forum for Physics Educators
Subject: Re: [Phys-l] frizzi

On 08/20/2011 02:17 PM, LaMontagne, Bob wrote:
where we are is big debt and a very bad recession (I won't use
hyperbole and say the word depression)

Yeah. That's what happens when the previous administration, which inherited from Clinton a strong economy and a budget surplus, nevertheless manages to run huge deficits year after year /before/ the very bad recession hit, and then hands off a moribund economy to the current administration.

And, as John M. has repeatedly pointed out, debt and recession are not the same thing. Repeatedly mentioning them in the same sentence does not make them the same thing. Not even close.

Why was it permissible for the previous administration to borrow when it was the wrong thing to do, yet not permissible for the present administration to borrow when it is the right thing to do?

Why was it permissible for the previous administration to borrow, yet not permissible for the present administration to be in debt?

Why was it OK for Republican majorities to raise the debt ceiling 7 times during the previous administration, but not OK to raise it again now?

Why was it OK for the Republican majority to threaten to do away with filibusters entirely if the Democrats did not allow an up-or-down vote on Bush-nominated judiciary candidates, yet OK for the Republican minority to filibuster and obstruct innumerable well-qualified Obama-nominated judiciary candidates, not to mention executive and agency candidates? It cracked me up to learn that a Nobel laureate in economics was not qualified for a seat on the Federal Reserve Board.
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