"If the US Govt was run like a business, we'd never go over budget!"

[Taverner]

WRONG!!!!!

I love to debunk this Reich wing talking point - because its so untrue. Most businesses live on credit. When they start off they never start on cash alone. Its always a Small Business Loan.

Then, when they turn a profit, they can borrow MORE money.

Most, if not all, businesses are up to their eyballs in debt.

And its not called "deficit spending" in the business world, its called CREDIT

[louis-t]

1. They said the same before Reagan was elected

and GHWB and GWB. We all know what kind of businessman GW was. A lousy one. Reagan spent trillions, and so did GW.

[Statistical]

2. Depends on the company.

AAPL: Total Assets: $47.5 billion. Total Debt: $0.0 billion

Add to that Microsoft, Walmart, Cisco Systems.

Lots of other companies have very low debt to income ratios. Walgreens for example refused to expand its stores based on debt instead using cashflow to pay for new stores in cash protecting shareholder value.

A lot of companies are addicted to debt though just as addicted as the Federal Govt.

[AnArmyVeteran]

3. How much did they pay in taxes? I paid 21% of my income in taxes last year.

[Statistical]

5. 21% federal income tax? You need a batter accountant.

Still it is easy to lookup yourself.

Apple for example:
Income Before Tax 12,066.00
Income After Tax 8,235.00

So 12 billion before taxes - 8.24 billion after taxes = 3.76 billion in taxes or 31.3%.

[donco6]

13. That's long term debt.

Short term debt (less than 1 year) . . . I don't know of any business that doesn't use a line of credit.

[Statistical]

17. Not all business do.

Apple has $10 billion in cash and another $13 billion in short term investments.

Some companies pride themselves on simply not using credit when not necessary.

Even short term lines of credit have carrying cost. It makes no sense to have short term debt costing interest while you have $23 billion just sitting their earning LESS interest.

[Swede]

4. That's why the credit crunch was so dangerous.

No credit=no payroll=no business.

[RT Atlanta]

6. Remember in early 2001 & MBA Bush?

Same shit was brought up about how well a "business manager" could run a lean and more efficient government.

[conscious evolution]

7. He was successful

The major stockholders(KBR,Raytheon,GoldmanSachs,etc...) made a killing.

[dchill]

15. Bush didn't run gov't as a business...

he ran it FOR business. So do all Republican and most Democratic presidents. If they don't, they'll be destroyed in the name of "just doing business."

[rfranklin]

8. Corporations run deficits constantly...

Sometimes for years at a time. Look at the airlines. Look at the car makers. Anyone who says not is an idiot. (which may be redundant when talking about right wingers.)

[WinkyDink]

9. Beth Steel, GM, ...............

[fascisthunter]

10. Exactly the Opposite!!! Because of Profit, Companies Break Laws constantly

while only paying fines because the crime itself proves to still be profitable even with the fine.

[tsuki]

11. You mean like Wall Street? nt

[harun]

12. There are plenty of business's that have never been within budget.

And the reason the U.S. is over budget is military spending.

[fishwax]

14. we just finished 8 years of the MBA/CEO presidency

Nobody with any sense wants to go back to that again.

"And its not called "deficit spending" in the business world, its called CREDIT"

:thumbsup:

[TheKentuckian]

16. True, it would just get by on tax breaks, cleanup, and bailouts from the gover...

Oh yeah, well we don't know much about how it would work when you remove that step.