DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Interesting Statistic buried in this article..

**NEWyear** · 07-10-2011, 06:27 PM

It's an NRO piece with the lameo title of: Warren Buffett’s Worst Investment

http://www.nationalreview.com/corner...n-d-williamson

It blabs about Buffet (Who I think is boring as hell) and then, we get this:

What did we do at the end of World War II? We cut spending — radically. In 1944, federal spending was 43.6 percent of GDP. By 1948 it was down to 11.6 percent of GDP. Now, I've never checked on this.. But if it's accurate (And I have no reason to think NRO would lie) it explains what happened to those giant deficits.

We cut spending and got our house in order.. (The industrial capacity we developed over the course of the war, and the rest of the world laying in smoking ruin, didn't hurt either.)

So..

When will we see a similar fiscal reckoning? According to the dems, never.

Our massive, post ww2 growth wasn't predicated on government mandates.. What makes the libs think DC demanding different light bulbs and solar panels will have the same effect as a consumer demanding a washing machine?

They talk about the sky high deficits pf the period as though they just vanished one day, never to return.. But they fail to mention that we cut spending to about half of average revenue.

There's no evidence that jacking taxes beyond about 20% of gdp will result in additional revenue.

So WHAT ARE YOU GOING TO DO for a repeat performance, Libs?

Cause from here, it looks like there is no comparison to be made with the post ww2 debt situation.. At all.

In any way.

07-10-2011, 06:27 PM	#1
NEWyear Join Date Oct 2005 Posts 569 Senior Member	Interesting Statistic buried in this article.. It's an NRO piece with the lameo title of: Warren Buffett’s Worst Investment http://www.nationalreview.com/corner...n-d-williamson It blabs about Buffet (Who I think is boring as hell) and then, we get this: What did we do at the end of World War II? We cut spending — radically. In 1944, federal spending was 43.6 percent of GDP. By 1948 it was down to 11.6 percent of GDP. Now, I've never checked on this.. But if it's accurate (And I have no reason to think NRO would lie) it explains what happened to those giant deficits. We cut spending and got our house in order.. (The industrial capacity we developed over the course of the war, and the rest of the world laying in smoking ruin, didn't hurt either.) So.. When will we see a similar fiscal reckoning? According to the dems, never. Our massive, post ww2 growth wasn't predicated on government mandates.. What makes the libs think DC demanding different light bulbs and solar panels will have the same effect as a consumer demanding a washing machine? They talk about the sky high deficits pf the period as though they just vanished one day, never to return.. But they fail to mention that we cut spending to about half of average revenue. There's no evidence that jacking taxes beyond about 20% of gdp will result in additional revenue. So WHAT ARE YOU GOING TO DO for a repeat performance, Libs? Cause from here, it looks like there is no comparison to be made with the post ww2 debt situation.. At all. In any way.
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