Obama says he will spend another $10 Billion

[trapperm]

Well, if he ends the Iraq war, we will have plenty of money to help out college students.

 

[PSCGuy]

Better here than in Iraq.

 

[chatolandia]

So it is better to spend the money killing people on another continent than helping College students here

you know, the future of this country and all...

 

[falconfan]

To get a decent job in modern America. You MUST have at least a bachelors degree. To get a bachelors degree you must pay thousands of dollars. So individuals like myself who are not blessed with parents who are able to spare thousands of dollars a year for college are forced to start life thousands of dollars in the negative. This is a fantastic idea and a much needed relief to thousands of young men and women as well as their parents.

And you use "tax and spend" in a rather loose fashion considering the primary point of this argument is that Obama would like to create a tax credit.... which is pretty much the opposite of taxing

 

[MystikWizard]

http://ap.google.com/article/ALeqM5hDz006qxJ-xRhnqo56MoC3t2OllgD91C296OA

Democratic presidential candidate Barack Obama recalled paying off his own mountain of student loan debt and promised struggling college students Tuesday he would help them pay for school.

Obama said he would give students a $4,000 tax credit to help pay tuition and fees in exchange for 100 hours of community service. The campaign said the program would cost $10 billion a year.

Yeah, lets give another $10 billion dollars a year away. Doesnt he know that our country has a huge deficit.

Obama - just another tax and spend liberal.

That's only if we have enough to pay off Hillary's $20 Million dollar debt first, her supporters are insisting we pay in the name of "unity".

 

[opinterph]

Hillary's $20 Million dollar debt

Hillary's $50 Million debt

Considering that 60 percent of Hillary’s debt has apparently disappeared in the last ten days and assuming that trend continues, her debt should vanish completely by Monday or Tuesday of next week.

they have to work for this credit through community service.

Apparently at the rate of $40 per hour. That’s roughly twice the average hourly wage for young college graduates. [Link]

 

[andysayshi]

Conservative estimates of the Iraq war put it's cost at $341.4 million per day. That's $10 billion every month.

Cost Of Iraq War

Seems to me Obama can balance that ledger sheet fairly easily.

Plus, his plan educates Americans, while the alternative kills and maims them.

 

[tmb1]

dont you mean to say "doesn't he know bush and the republicans have put us into a huge deficit."

This thread is so laughable!

 

[greydog]

http://ap.google.com/article/ALeqM5hDz006qxJ-xRhnqo56MoC3t2OllgD91C296OA



Yeah, lets give another $10 billion dollars a year away. Doesnt he know that our country has a huge deficit.
_____________________________________________________________________________________


Education is a good way to give it. He's not stupid...It's a tiny amount compared to the hundreds of billions that Bush has spent on the Iraq war and is the reason for the huge deficit, that our grandchildren and their grandchildren will have to pay.

 

[chatolandia]

and who would take us out of the deficit, "More Iraq War" McCain?



geez!


once again, forgetting the fact that educated people make more money than uneducated ones, and as such, pay more taxes

 

[naked gent]

There is a stark choice to be made here:

A) Invest 10 Billion in eduction and have American's unborn generations pay our debt for years to come.

B) Live within our means.

I choose B. We can not spend our money on every "good" cause. We must live within our means.

Americans in their personal lives cut back on purchases when they are in debt, the federal government must also. It is only common sense.

Given your view on this might I ask if you would support a tax increase if it would eliminate the deficit?

Concerning the topic it is sad that while in power the republicans spent money at a record pace yet couldn't find the money to help educate our work force.

 

[greydog]

No, I would not support a tax increase to eliminate the deficit.

I would support reducing the budget to eliminate the deficit.

We must live within our means. The American people are not a bottomless piggybank.

Interesting,... so you would reduce the budget.....McPane aint gonna like that...
He needs a BIG BUDGET to continue funding the WAR...for 100 years.

 

[naked gent]

No, I would not support a tax increase to eliminate the deficit.

I would support reducing the budget to eliminate the deficit.

We must live within our means. The American people are not a bottomless piggybank.

I see you're all for living within our means as long as its done your way and if not then you're not all that interested. In a form of government which demands compromise to achieve anything it seems you don't really desire a balanced budget.

How about this would you support say an across the board 5% reduction in spending and a 5% increase in taxes if that would result in a balanced budget?

The american people may not be a bottomless piggybank but their government is a good reflection of their spending habits. Both save nothing and buy as much as they can on credit.

Those who believe the problem is Washington need to expand their outlook.

 

[falconfan]

There is a stark choice to be made here:

A) Invest 10 Billion in eduction and have American's unborn generations pay our debt for years to come.

Don't you get that by not funding education in an increasingly pricey environment which demands perspective employees have bachelors degrees which cost thousand upon thousands to obtain IS having America's unborn generation pay our debt.

How on earth do you ever figure that a tax credit geared to help alieviate the future financial burden of the youth is endebting future generations. Far from it. It's making it more fiscally possible for them to start life in the positive.

 

[falconfan]

What you are suggesting it this:

Students get to start life in the positive. That $4,000, the student gets, will be added into the federal govt debt. Obama is not suggesting that we raise taxes to pay for it.


Student's children and grandchildren pay off his student debt.

Does that make sense????

It makes perfect sense because the student's children and grandchildren will also receive a tax credit when they reach an age when they need it. Not to mention that the plan is not simply hand money to kids. It's to allow them to do community service. That is working for it and at the same time improving their community at the same time.

The federal government must stop spending.

The federal government can't merely cease to function because Bush spent far far more than he had.

 

[opinterph]

… find the money to help educate our work force.

… That $4,000, the student gets, will be added into the federal govt debt. Obama is not suggesting that we raise taxes to pay for it.

An educated work force earns higher wages and will therefore pay more taxes.

Public benefits of attending college include increased tax revenues, greater workplace productivity, increased consumption, increased workforce flexibility, and decreased reliance on government financial support. [Link]

 

[naked gent]

Debt: Our national debt has nearly tripled over the last decade - just the interest payments on it last year took the personal taxes of all taxpayers west of the Mississippi. Our foreign debt has tripled. In just three short years, we went from the world's largest creditor to its largest debtor nation.

How much further East do you want to move that line?

The federal government must stop spending.

If you're not willing to compromise to solve the problem I don't think you believe its as serious as you seem to indicate it is.

A good portion of that added debt was the result of tax cuts, if you can't address that side of the equation then you're just pissing in the wind.

 

[opinterph]

An educated workforce would rather take a student loan and pay it off with the higher wages than pay more taxes.

There is no reason to get the federal government involved here.

Good point.

Even so, I think the practice of the Federal Government to underwrite/guarantee student loans is a good idea.

 

[naked gent]

http://www.taxfoundation.org/news/show/1410.html

136 million Federal returns were filed last year, 43.4 million owed no taxes.

Thus there were 92.6 million returns that paid taxes.

92.6/10 billion / 92.6 million = $108 tax increase a year.

I paid for my college education. It took me 10 years to pay them off, But I did.

What is wrong with America's youth, they want everything handed to them?

You might be right if the income tax provided the federal government with all its revenues but since it provides less than half of federal revenue your math is off.....way off.

Firs order of business, stop all new spending.

The first order of business is to return to the "pay as you go" system which, in the 90's, produced a somewhat balanced budget. The republican congress ended it in order to allow them to cut taxes which they could not have done had they retained it.

I was against those tax cuts for that very reason.....for some reason I'm guessing you were not.

 

[opinterph]

This is what I care about:

Balance the budget. Start paying down the debt. Keep tax rates reasonable.

STOP finding new ways to spend money we do not have.

If net deficit spending is your overriding concern, you should vote for Obama. He appears to represent the lesser of two evils with regard to the national debt.

The Tax Policy Center estimates that over 10 years, McCain's tax proposals could increase the national debt by as much as $4.5 trillion with interest, while Obama's could add as much as $3.3 trillion. [Link]