CIA Director: Deficit a Threat to National Security Video

Complete video at: http://fora.tv/2009/10/23/CIA_Director_Leon_Panetta

CIA Director Leon Panetta argues that the growing budget deficit will weaken national security and burden future generations. "The borrowing we have to do around the world," says Panetta, "makes us more dependent on those countries."

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CIA Director Leon E. Panetta talks with the Commonwealth Club about terrorism, nuclear proliferation, and other issues threatening America's national security. He describes how the CIA is responding to these threats, and discusses his plans for the Agency's future. - Commonwealth Club of California

Leon Edward Panetta became the 19th Director of the Central Intelligence Agency on 13 February 2009. As Director, he leads the Agency and manages human intelligence and open source collection programs on behalf of the Intelligence Community.

Mr. Panetta has dedicated much of his life to public service. Before joining CIA, he spent 10 years co-directing with his wife, Sylvia, the Leon & Sylvia Panetta Institute for Public Policy, based at California State University, Monterey Bay. The Institute is a nonpartisan, not-for-profit center that seeks to instill in young men and women the virtues and values of public service. In March 2006, he was chosen as a member of the Iraq Study Group, a bipartisan committee established at the urging of Congress to conduct an independent assessment of the war in Iraq.

From July 1994 to January 1997, Mr. Panetta served as Chief of Staff to President Clinton. Prior to that, he was Director of the Office of Management and Budget, a position that built on his years of work on the House Budget Committee. Mr. Panetta represented Californias 16th (now 17th) Congressional District from 1977 to 1993, rising to Budget Committee chairman during his final four years in Congress.

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marsCubed: A Polish saying. "To get a bargain you need to spend more money" Investment is not magic,it is not even communism, it is something idiots do not do. Seriously, in IQ tests it is even a Q posed in various ways. Republican policy is blisteringly dumb, it is granny at a flea market picking through the nastiest cheapest boxes of smelly shoes. We want an America which leads and inspires the world with a vision of a better future, innovation and stability. Not smelly old shoes as a 'bargain' trophy

NoGuff: "the economy is slow because people are not spending a lot of money" --That's a byproduct. People aren't spending money because their money has been devalued due to this massive recession. When jobs are lost people tend to spend more carefully.

NoGuff: First, you are a Marxist. Second, you spread lies & misrepresentations. And third, stop bothering me, you don't live here, and the people who know the least about America are the last people I should spend my time debating America's problems with.

NoGuff: Tax cuts are investment incentives, you dip. Some are aimed that way, some are not. Please name some investment incentives other than tax ones. They are the easy & quick to enable. You forget that back when tax rates were 90%, most people were poor. Cars were a luxury. Millionaires were few & extremely rich. Now, most people have big TVs, microwaves, cell phones, families have more than 1 car, most investors in the stock market are middle class, and we have more millionaires than ever.

marsCubed: @NoGuff The equality gap has grown massively. It is not about which country Someone is in.. In your case the question should be what planet they are on. Dogma is the problem NoGulf. We just want a balanced sensible economy. calls for more inequality and driving workers through miserable conditions is just dumb, it trashes markets and your own economy for the sake of a few populist jingles.

marsCubed: @NoGuff AND.. the reason you are talking to me, is that nobody else can be bothered with your line of inequality and corp hyping. We all want a good economy, just not the dogmas. I am talking to you so anyone reading this thread gets a sense of how shallow arguments coming from your side are. hope that is all clear now.

allgoo19: NoGuff: "You forget that back when tax rates were 90%, most people were poor. Cars were a luxury. Millionaires were few & extremely rich." Regardless of your reasoning, the fact remains. Economy boom kept up for 25-30 yrs. According to you, high tax rate and regulation destroy the economy. Market crash started happening only after those were removed. Why things keep happening in opposite of what you say?

NoGuff: "Market crash started happening only after those were removed" --You mean before the 1929 crash?

allgoo19: NoGuff: "You mean before the 1929 crash?" Good point. It was before regulation(G&S Act) put in place and tax were very low(25%), which led to the depression. Depression was only the end result, banks were shutting down by hundreds since early 20's. That was the reason for the regulation. "Why things keep happening in opposite of what you say?" And your answer is??

NoGuff: "It was before regulation(G&S Act) put in place and tax were very low(25%), which led to the depression" --But you just wrote that the G&S Act came after the depression. Which is it? This is truly amazing. Finally, the true Neo-Communist agenda is revealed. You want to return the USA to the point where most people are poor and only a few select Elitists will be super-rich and in control. Have fun with that, because I'm against you 100%.

allgoo19: NoGuff: "--But you just wrote that the G&S Act came after the depression. Which is it?" Learn a history first. If you did, you wouldn't be asking such question. Did you go to school? Lack of regulation and low tax rate (25% 1925-1931, everything was controlled by conservative idea including prohibition) led the economy to depression. G&S Act:1933. Didn't we learn anything? "Why things keep happening in opposite of what you say?" And your answer is??

NoGuff: "Learn a history first. If you did, you wouldn't be asking such question. Did you go to school?" --Wow, a lot of chastising there for simply asking you to be clear in your writing. I mean, if I knew about G&S Act thoroughly I woulnd't have asked. "low tax rate ... led the economy to depression" --Really? Do you have anything written by any economists or such professionals that will back up your idea that low tax rates lead to the Great Depression? Or is that just your idea?

allgoo19: NoGuff: "Wow, a lot of chastising there ..." You answer a many questions that I didn't ask but don't answer questions I asked. "Why things keep happening in opposite of what you say?" And your answer is??

NoGuff: "but don't answer questions I asked" --Ask away. "Why things keep happening in opposite of what you say?" --They don't.

allgoo19: NoGuff: "They don't.." They do. I'll repeat, so you post your point. 25%Tax rate 1925-1931. 1929 market crash, no G&S Act in place. 1932 tax hike began up to over 90% till 1963. Coming out of depression then led to boom 40's, 50's and 60's. 1970's, partial repeal of G&S Act began. 1980, Reagan elected, cut tax to 50%. later in his term to 25%. 1987, "Black Monday" market crash.--fast forward--2000, total repeal of G&S Act. Bush elect, cut tax to 35%. 2008 market crash.

libertyeconomics: The deficit=a threat to national security. Wow. Finally, we get some common sense. People don't understand that security is a corollary of economic prosperity/independence.

libertyeconomics: What allgoo completely overlooks is that a recession is a GOOD thing. I mean, it isn't good that the government, through inflationary stimulus, creates false economic activity (i.e., bubbles) to begin with. But the quicker the government pulls life support from counter-productive activity, the quicker we return to GENUINE economic growth. Thus allgoo may have a point: when the communists run out of money, their system goes into a recession. He needs to brush up on Murray Rothbard.

NoGuff: "boom 40's, 50's and 60's" --COME ON!!!! I guess WWII had NOTHING to do with ending the Depression? IT WAS THE ONLY REASON YOU LYING NIMROD! "1970's" --Socialist spending policies coupled with oil embargo crippled economy, NOT lower taxes. I really can't believe you. "1987, 'Black Monday'" --Crash, or major correction? "Bush elect, cut tax to 35%. 2008 market crash" --Wow. 7+ yrs of positive growth then he gets blamed for out of control oil speculators. You Libs are really something

NoGuff: Yes, I'll agree that in the bigger picture occasional recessions are good because it corrects inflated growth (the "dot com boom") with solid, proper growth.

allgoo19: NoGuff: "COME ON!!!! I guess " Where's your rebuttal? During high tax and regulation of 1932 to 1964, according to your opinion, the economy would go nowhere but down? Instead, the economy was booming. During W. terms, there was no "boom" just up and down, then crashed. Show me any link that Bush had "economic boom".

NoGuff: "Where's your rebuttal" --Wow, I'm really getting tired of you. Its right there in the message you didn't read. "economy was booming" --So the 30s was a boom. I should get my money back from that history class. "there was no "boom" just up and down" --Slow, steady economic growth is not a "boom" or up/dn. "Show me any link that Bush had 'economic boom'" --When you show me where I wrote W had one. Booms are not the goal bc they're followed by busts. Slow growth is the goal.

allgoo19: NoGuff: "When you show me where I wrote W had one(economic boom)." Thanks for admitting. He never had good economy going, always bad, sometimes worse than others. Google "Presidents and economic prosperity" No.1 Clinton No2. Johnson No.3 Kennedy No4. Reagan......No.8 W. Bush(counting only 1st term) If his 2 terms were counted, he'd be dead last behind his father. Where's your proof that tax cut and deregulation helped economy to boom? W. and Reagan are definitely not good example. So?

NoGuff: "Thanks for admitting" --Wow. You're insane.

allgoo19: NoGuff: "Wow. You're insane." It should always be followed by "because". Describing something alone won't make you win the debate unless you explain it. "insane", because? I have presented so many evidences. So where's yours? Deregulation caused a big economic boom for 25 yrs? According to you, 1945 to 1970 should be an economic disaster. Instead, it was boom only because of war? How about Gulf war I and Gulf war II, did they cause economic boom?

eliasmouawad: Search for US DEBT FORMULA

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