O'Neill says Cheney told him, `Deficits don't matter'

[NNN0LHI]

http://www.chicagotribune.com/services/site/premium/access-registered.intercept

WASHINGTON, DC -- Former Treasury Secretary Paul O'Neill said he was told "deficits don't matter" when he warned of a looming fiscal crisis.

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[fertilizeonarbusto]

1. not to dicky-pooh, they don't

the rest of us, however...

[Cooley Hurd]

2. A federal deficit doesn't matter to the rich or Corporate America...

...but to the rest of us, the ones who pay state and local taxes or those who rely on Social Security or public assistance, a large federal deficit means inevitable service and state grant cuts. And that equals higher state, local and school taxes, decreased benefits for SS and welfare recipients, and underfunded federal programs for the needy.

Deficits may not matter to Cheney, but they matter to the other 99% of us that aren't rich.

[nolabels]

3. They don't matter, huh

The story I hear is they want them to keep the economy and people clamped down with debt. These people are evil, they want to financially enslave the populations and keep them doing the bidding for Multinational global capital (which history has proved doesn't work, it only leads to more wars)

What the hell do you think the Ruskies are so repulsed by it for anyway. These folks wouldn't know what Fair Trade was if it slapped them in the face. I think that Yale must of gave * a B.A. just to get him to leave the campus. College degrees by default, that is an Ivy league school? There should be some way to rescind mistakes like that.

It's just wrong to think that the cabal of squatters at 1600 Pennsylvania have even one clue about how business works

[drscm]

4. Deficits do not matter

as long as a Democrat follows these Repugs to clean up their messes afterwards.

[Enraged_Ape]

5. Deficits DO matter to the uberrich...

because they collect the spoils of all this debt. They keep "loaning" (wink, wink) the money to the federal government who keep "asking" (wink, wink) for it. It's plain-and-simple a wealth transfer game, with most of the money going overseas and every poor, middle-, and even upper-middle-class American ending up the big loser.

[loudnclear]

6. They only matter when Republicans want to paint Dems as big spenders.

Otherwise, Cheny is right, they don't really matter. I said that back when Reagan was making an issue about the deficits so that the dittoheads would get mad at the "welfare queens" and vote against the Dems. (Who said race is not an issue? It's been an issue either directly or indirectly in every election since before the civil war).
Deficits is a "code word" for the conservatives...and they know who they are and what it means in the red states. Some other notable code words in past elections were "law and order" "street crime" "quotas"
"morality" "crack" and "unqualified."

Deficits are not now nor have they ever been a "real" problem. The US government will only print more money when they need to. All the sophisticated economics and jawboning won't change the simple fact the US government will never go broke unless it wants to. And you can take that to the bank!

[On the Road]

8. If Defecits Don't Matter,

how come the International Monetary fund send the Bush administration a letter warning that US defecits threatened the world economy?

http://www.nytimes.com/2004/01/07/politics/07CND-FUND.html

Jesus Christ, man, you think it makes no difference whether the national debt is $1 Trilion or $100 Trillion? The world is littered with countries who have destroyed themselves with irresponsible debt. Iraq is one. Argentina is another. A lot of historical European powers went down the tubes because their debt burden became so high -- often as a result of overextending the treasury on military campaigns.

"Defecits don't matter" -- please.

[MasonJar]

7. Actually you cannot stereotype people like that.

Last fall Bill Moyer had a guest on (whose name I can't remember.) He was rich; he was a Republican, but he was disgusted with the deficit. He did not want his grandchildren paying it off anymore than we want ours to pay off Bush's debt. Since Cheney does not think it matters, let him pay it.

[salin]

9. even worse is Cheney's reason why... "we won (midterms)... its our due"

He now shows that policy is NEVER a consideration with these guys. They don't care whether it is good or not for the country. It is all about short-term (greedy) gain... and political abuse of power... ie "We do it Because We Can."