Gary Johnson compares U.S. to Greece, laughs at Obama's economic plan
(CBS News) The presidential nominee for the Libertarian Party, Gary Johnson, laughed at Mr. Obama's economic proposals before he offered a dire warning that the U.S. faces a monetary collapse.
© 2012 CBS Interactive Inc. All Rights Reserved. In an interview with Hotsheet, the former Republican New Mexico governor harshly criticized President Obama's statement he made on the on the economy where he called on Congress to pass additional aid for states and provide support for the construction industry.
"He talked about the U.S economy and the tools he has to allow the federal government to be flexible when it comes to states. Well, what he's talking about is printing money," said Johnson, who is a critic of federal monetary policy.
During his news conference Friday morning on the economy, the president warned against too much austerity too quickly, saying it could damage economic recovery. Johnson disagrees, saying that too much spending will lead to monetary collapse.
Johnson said the U.S. is "not immune from the mathematics of continuing to borrow and print money," adding that "we're only six years away from being in Greece's same statistical situation."
The president warned about Europe's economic challenges as the Euro Zone struggles to determine a path forward with Greece, Spain and Italy facing deep debt and high unemployment. Mr. Obama said Europe's challenges could impact the U.S.'s economic recovery. Johnson said the president is applying a double standard.
Gary Johnson: Top ten political questions
"On one hand he's talking exactly what we need to be doing and on the other hand he's getting us further in debt which is what he says is getting the European countries in trouble," Johnson said.
Johnson, who first ran as a Republican candidate for president but dropped his failed bid after not gaining significant support, said he would propose to cut $1.4 trillion from the 2014 budget - 43 percent of the federal budget. He also called for the tax system to be based on consumption instead of income, supporting what is known as the "Fair Tax," or a 23 percent national sales tax. He said it "reboots the economy for the next 100 years."
"Because in a 0 percent corporate tax rate environment, if the private sector doesn't create tens of millions of jobs, I don't know what it's going to take to do that," he said.
As for cutting the budget, Johnson breaks dramatically from both the Republican and Democratic parties. He would cut federal programs and make drastic reforms to Medicare and Medicaid, which Democrats tend to oppose, and he would cut 43 percent from the Defense budget, which Republicans tend to oppose.
"It's almost laughable when [presumptive Republican nominee Mitt] Romney talks about balancing the federal budget but that he's going to increase spending for the military and he's going to hold Medicare in check," Johnson said.
The Libertarian Party candidate will be on the ballot in all 50 states. He's also met Federal Election Commission requirements of raising $5,000 in 20 states and can receive matching funds, a rare feat for a third party candidate.
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Others say that companies will not open factories if there isn't any consumers. If Apples profit margins don't show this country has consumers nothing does. It also ignores the fact that by creating jobs they create customers. here is the math, jobs=income=sales, the more you have of each the better the wheels turn.
Stimulus has only worked for bankers, the 99percent people keep blaming corporations, but the real cause of our problems were the banks creating a false investment bubble, then profiting form its bursting. But then the Media doesn't like people to know that do they.
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I PAID FOR IT! IT'S MY MONEY AND THAT SOB CAN'T HAVE IT!
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YOU WORKED YOUR WHOLE LIFE? IT'S YOUR MONEY TOO!
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ALL THE SOBS WHO ARE IN THE UPPER 50% SHOULD NOT BE ALLOWED TO COLLECT IT. THEY DON'T NEED IT! WE DO!
As for the earlier comment about Johnson "not cutting" the defense budget, I suggest reading Mr. Johnson's website. It is clear that his intent IS to cut defense spending significantly and in a large way. Given that the current defense budget (excluding "off budget" items) is roughly 800 billion dollars (under Obama) and Romney wants to increase that, it is difficult to see how either Romney or Obama can claim they plan to be "fiscally responsible". Can anyone rationally represent that our current defense expenditures, which represent 46 percent of the TOTAL WORLD expenditure on defense, are in any way reasonable or appropriate?
With respect to the statement that "Our Libertarians are supporting entrenched interests the same way so-called Communists are doing in China", I beliee it would be helpful if sources or evidence supporting that claim were provided.
With respect to the statement "Communism and Libertarianism are both great ideals that fail to account for the reality of human nature" I would ask the following questions: (1) Should not strive for those ideals rather than giving up?; and (2) What empirical evidence supports this claim, given that there is currently no major nation that is actually being run on libertarian principles?
Lastly, I would point out that most of the other statements made here appear to be nothing more than "tinkering" with the current system. Printing MORE money, arguing over "gee, defense spending or medicare spending", recommending more and more "stimulus" paid to businesses and banks (which certainly does NOTHING to put money in most people's pockets), "closing tax loopholes"-all of it appears to be rehashing what we've done for the past forty years or more. Has any of that ever actually worked? For forty years, middle class incomes have been flat or shrunk, haven't they?. For forty years our schools and infrastructure have decayed, haven't they?. For forty years we have cut taxes to the point where they are now lower than they have been in decades (including cutting capital gains to the point where Mitt Romney pays 15 percent on 240 million, but a 50 thousand dollar a year teacher pays 15 percent income taxes PLUS another 7.6 percent in "payroll taxes)-and yet all the promised jobs and prosperity have not appeared, have they?. Given that NONE of that has worked effectively (simply wander down main street USA if you think it HAS worked), than shouldn't we just once, perhaps, try something entirely different as a rational solution to our problems?
Let's look at the Ryan budget (endorsed by Republicans and Romney). It calls for massive layoffs of government employees, massive cuts in state funding, and cuts in Social Security, Medicare and Medicaid, and education. All these are cuts to HUMAN programs and will hurt the elderly, the disabled, and children. AND THESE CUTS WILL NOT DO ONE SINGLE THING TO IMPROVE THE ECONOMIC ENVIRONMENT FOR BUSINESS. INSTEAD OF CAUSING PRIVATE SECTOR BUSINESSES TO EMPLOY MORE WORKERS, IT WILL CAUSE THEM TO LOSE CUSTOMERS AND CUT BACK ON EMPLOYEES OR CLOSE THEIR DOORS. Then we will be like Greece, Spain and the rest of Europe.
Here is a better plan. Let's rebuild America's crumbling infrastructure. Cut out the wasteful foreign aid and invest in America. Let's employ another 200,000 to 400,000 unemployed workers to build new roads, bridges, waste and sewage plants and water treatment plants, rebuild railroads and high speed rail, and projects that benefit OUR economy. Just think how much gasoline we could save if we weren't sitting in gridlocked traffic jams every day. And for every construction job 4 to 6 peripheral jobs are created. That is creation of 1 million to 2 million jobs. That has turned 1 to 2 million unemployed people into taxpayers and CONSUMERS. And actually with 1 to 2 million newly employed business gains 3 to 6 million new consumers when you include spouses and children. And instead of cutting funds to states causing states, counties, and cities to lay off another 200,000 to 400,000 employees, Congress needs to increase funding. But funding needs to be specific to maintaining or increasing the level of workers employed, not for use in lavish spending of deficit reduction. States, counties, and cities will see deficit reduction as their economies grow if they use discretion in spending. EVERYBODY WINS. The government takes in more tax revenue, the workers have more money to spend, and businesses have more customers and expand. That is how you grow an economy.
Yes, we need to reduce deficits and even pay off some government debt. But America can't do it by AUSTERITY programs. We need to do it by rebuilding American infrastructure. We need to do it by tax reform (especially eliminating loopholes that allow 15% of people making over $250,000 to pay NO taxes at all). And yes, a larger consumer tax would be much fairer than the current tax system we now use. We need to cut deficits by cutting WASTE, not by cutting HUMAN programs (especially programs that are paid for by taxes taken out of payroll checks, i.e. Social Security and Medicare). We need to cut "perks" to Congresspeople and Congressional budgets before we cut essential services to real Americans. Congress needs to develop integrity and a sense of duty to the American voter instead of their "big money" campaign contributors.
The Catholic have a stand... No prisoners, ever, anyplace, anytime. Now, they have almost total control of this government. Look South!!!!
Opinions, everyone has one. A few facts do help an opinion. There are more D Catolics than R Catholics. that have been elected.
In the case of Catholic, remove brain, insert dogma, and now that dogma is an "opinion". Dogma is interesting in that it comes from the pope and cannot be discussed, and cannot be wrong because it came from the pope.
There is no successful Catholic nation in the world.
There is no successful socialist nation in the world.
California has been under Catholic control for the past 20 years (Schwargnegger, Brown, and a Catholic legislature).
California is following in the footsteps of everything south of the US border.
Complete failure in budgets. Complete failure in education. Complete failure in infrastructure.
Complete failure in keeping an English language. Complete failure in everything. Catholic can take the credit of all of this.
Today it was announced that there are fewer Caucasians born in the US than "minorities". This makes Caucasians a "minority"
Yet, for the past 30 years, the Govt has said we have 10M illegal aliens in the nation. And, the INS says there are 50 k being shipped back every month. The INS also says that about 10 get through for each stopped. This makes more than 5M per year that have gotten through each year for the past 30 years. Today it was said that there are over 50 M "Hispanics" in the US.
Vote every R and D Catholic out, and restore the borders. Vote every Catholic out and restore the Constitution.
If Gary Bauer were had a clue about how economies actually work, he would realize that the fact that we control our own currency and can print money at will is the one HUGE difference between us and Greece. Greece is in such dire straits because they can't devalue their currency against the Euro. This is simple economics that anyone quoted in a major newspaper should be able to understand.
Secondly, anyone with half a brain would realize that suddenly changing our tax system from taxes on income would have two effects:
1. The people earning higher incomes would gain huge benefits compared to our current system. We currently have a mildly progressive tax system. Gary Bauer wants a wildly regressive tax system. You can decide for yourself if a progressive tax system is more fair than a regressive tax system.
2. Consumption would take a hit if we start collecting a National sales tax. A decrease at this time in consumption is far more likely to send us into a decade long depression than a few more years of deficit spending.
We the people need to elect representatives who understand the current situation means propping up the economy, but long term spending must be curbed. A lot of Democrats don't get it, but I don't see a SINGLE Republican, let along a Libertarian who understands that.
Both the R and D have been invaded by Catholic. There are more Ds in this religion than Rs. There is a game of "good cop - bad cop" going on. the Rs are the "bad cops". The shadow party (Catholic) has invaded both parties. The sole goal of these politicians is to further the pope in the dogma that is present in the Catholic Church. There is no nation in the world that is Catholic and successful.
So, now Ryan (R) (C) comes up with a budget that has been blocked by both parties for four years. (It is the Catholic bloc that has caused much of the budget distress). Reid claims to be Mormon, however, he eats with Cs.
The Ds must be heroes and to do this, the Rs have to be the bad cops. (Remember, there are more Ds in office than Rs.) So here comes a R to the rescue, with a totally unusable budget that is bound to be destroyed. This makes the good cops (D) heros, and the bad cops (R) villains. So, to get more Catholic in, have good cop bad cop show, and get more Ds in office. The office of Pres. "candidates" by the Rs was a total sham. The only "candidates" are (Catholic). (If it looks like a duck and smells like a duck, call it a Catholic). Romney flocks with the Catholic.
The US is now in the sights of the Vatican, and unless action is taken quickly, then the US will be just another failed nation, just exactly like every nation to the south of the US.
Vote every Catholic out and then the Constitution will be secure, Women's rights will be secure, "all men are created equal" will be normal, and the illegal aliens will have to go over a very high fence, and the US will be secure.
Now the Rs are the bad cops of the "good cop -bad cop" scene. So the Catholic want to have you elect more Ds. Then there will be a majority, not just a big bloc that there are no successful Catholic nations on earth. There is more D Catholic than R Catholic. The Catholic are playing good cop. The Catholic are really what stops government from working. Vote all the Catholic out and restore the Constitution.
www.fairtax.org
The book - The Rich Don't Pay Tax...Or Do They by John Gaver
Isn't that what got us into this mess?
Communism and Libertarianism are both great ideals that fail to account for the reality of human nature. Our Libertarians are supporting entrenched interests the same way so-called Communists are doing in China.
"As for cutting the budget, Johnson breaks dramatically from both the Republican and Democratic parties. He would cut federal programs and make drastic reforms to Medicare and Medicaid, which Democrats tend to oppose, and he would cut 43 percent from the Defense budget , which Republicans tend to oppose."
Neither of the stupid major parties are taking our situation seriously. Budget cuts certainly have to be done, but not just to social programs, but also to the military. However, there must also be a supply side to this, i.e., plans to boost the economy. This cannot be something as lame as reduce taxes for the rich -- are you kidding me?
I also very much favor his national sales tax idea, but there also needs to be a base tax rate PAID BY EVERYONE. I don't believe anyone should live and work in this country without paying taxes. Implementing both of these will certainly put us on firm financial ground for many years into the future.
Everyone pays taxes. State and local and sales taxes are a real burden when you are trying to support a family of three or four on thirty thousand dollars a year. Most people who pay zero Federal Income Tax are barely getting by. We can and should close loopholes. We can and should pass laws to push employers to pay workers enough to get them into a taxable income. We can and should reform tax codes that reward people to have children they can not support.
For example, I do not have a Mercedes car. I do not care what the price is.
If I have a vested interest, then I care.
If the price of food goes up, I care.
If I pay no taxes, I do not care what the tax rate is, so let it be anything.
the bottom 48 percent pay no taxes.
They do not care, and hey, let the taxes go up so I do not have to pay.
This is the thinking of Robin Hood, and the socialists.
Robin Hood did not work. Socialism has no successful place in the world.
Unless there is a nominal tax on the "poor" the system is a failure.
Unless a person has to pay something for a Dr. visit, the cost is immaterial.