$3.5T Not As Big As You Might Think

[Papageorgio]

Responsible? That’s how it works

Bush had a budget surplus and ya know what he DIDN’T do? Pay down the debt.

Know why? Because banks would have freaked out.

He could have purchased SS Treasury Bills to avoid the issues we now face but he didn’t do that. THAT would have been responsible.

What he did do was hand out tax cuts

A month and a half into Bush's presidency we dipped into a recession and stayed there until November 2001, in fact he sent $200 out in stimulus to every American. He should have cut spending and raised taxes on every American so every American would be a part of a solution. We need that now, cut spending across the board and raise taxes across the board, but no politician has the balls to do that, so we just spend more and blame the rich for not paying their fair share, whatever the hell that means.

 

[ColonelAngus]

If the spending bill is being wholly financed by the government stealing more of our money….how the fuck is that NO COST?

 

[BluesLegend]

Earth to retard, so what, A LOT more don't have 401k's, the rich get richer and the working class get by, even with a 401K, which most MUST tap into for any emergency.
Then they get raped by the financial company, then get raped by the government in taxes.

Pensions?
Reagan got rid of those.

When you point out to the corporation hating left that the working class has trillions invested in the very same corporations they pop a gasket ^^^

 

[Lesh]

A month and a half into Bush's presidency we dipped into a recession and stayed there until November 2001, in fact he sent $200 out in stimulus to every American. He should have cut spending and raised taxes on every American so every American would be a part of a solution. We need that now, cut spending across the board and raise taxes across the board, but no politician has the balls to do that, so we just spend more and blame the rich for not paying their fair share, whatever the hell that means.

So now we're going to get lost in THOSE weeds?

Bottom line is that we do NOT pay down the debt. Ever. We pay the interest. That's how the system works.

And guess what? The interest is affordable

 

[Ordinary Guy]

So, Trump can pass a $2.3 trillion tax cut for the rich and republicans have no issue with that but Biden signing a bill for $1.2 trillion more for infrastructure and Americans and republicans blow a gasket.

I got a big tax cut and I am far from rich, of course we aren't idiotic enough to pay more than $10,000 annually in mortgage interest either

 

[Ordinary Guy]

So now we're going to get lost in THOSE weeds?

Bottom line is that we do NOT pay down the debt. Ever. We pay the interest. That's how the system works.

And guess what? The interest is affordable

famous last words of every country that went belly up

 

[mudwhistle]

Responsible? That’s how it works

Bush had a budget surplus and ya know what he DIDN’T do? Pay down the debt.

Know why? Because banks would have freaked out.

He could have purchased SS Treasury Bills to avoid the issues we now face but he didn’t do that. THAT would have been responsible.

What he did do was hand out tax cuts

You really need to stop comparing Bush to Democrats....because they're both on the same team.

 

[Ordinary Guy]

Not to mention NY gets 40 billion for state housing upgrades, Pelosi's park at 200 million, another few billion so immigrates can have free college, Democrats are using tax money to buy votes

 

[Staidhup]

Actually it jumped as soon as Obiden's EOs went into effect.
Inflation is at it's highest since the Carter Adm.
Inflation punishes people with large families the most.

Inflation hurts everyone, from the top to bottom, especially hard hit are the lower middle, retired, those starting out on their own, and minimum wage earners. It doesn't effect the poor as much because of government safety net programs.

 

[mudwhistle]

I got a big tax cut and I am far from rich, of course we aren't idiotic enough to pay more than $10,000 annually in mortgage interest either

no.....the Democrats said those were tax-cuts for the wealthy...and besides....Pelosi says they were just crumbs to us peeons anyway..and Democrats never lie.

 

[Lesh]

Inflation hurts everyone, from the top to bottom, especially hard hit are the lower middle, retired, those starting out on their own, and minimum wage earners. It doesn't effect the poor as much because of government safety net programs.

First of all...inflation is not always bad. it's HOW MUCH inflation we have that matters.

Inflation is what makes mortgages affordable.
Inflation in the 2-3% range is actually desirable.

We currently have had a couple months of 5% inflation. Yea that sucks but ain't a killer. We're coming out of a national shutdown so that's not real surprising and it's likely not going to last all that long or go much higher.

It's also partly driven by housing costs...which have already started to level off.

 

[OKTexas]

Here's Why Democrats' $3.5 Trillion Legislation Isn't (Quite) As Big As It Sounds

It's a lot of money, but still less than the Great Society — and still not what they spend in Europe.

www.huffpost.com

In fact it includes Medicare and other items that save $1T.

Including savings on drug costs. Something long overdue

What a load of commie bullshit propaganda. As usual congress is using accounting lies to keep the over all price of the bill low. They claim some of the items will expire after two or three years when they know that will never happen. Once an entitlement is created and put in mandatory spending they will never expire. The fact is the bill will cost at least three times what's being advertised.

.

 

[mudwhistle]

It's like insurance, you pay for everyone that doesn't.
Do corporations give you a discount when they get a tax break?

Yep....everyone pays and the illegals collect the benefits.

 

[mudwhistle]

First of all...inflation is not always bad. it's HOW MUCH inflation we have that matters.

Inflation is what makes mortgages affordable.
Inflation in the 2-3% range is actually desirable.

We currently have had a couple months of 5% inflation. Yea that sucks but ain't a killer. We're coming out of a national shutdown so that's not real surprising and it's likely not going to last all that long or go much higher.

It's also partly driven by housing costs...which have already started to level off.

Inflation is always bad. It means if you have a fixed income....you don't have as much money as you thought you had.
Obama spent his entire presidency signing regulations that cost us more money.
Biden has doubled down on inflation. He makes Jimmy Carter look like a great president in comparison.
It won't take much for them to crash the economy and send us into a Great Depression from all of the ridiculous spending.

 

[ColonelAngus]

All the dumb fucks who voted Biden, but are now paying more for EVERYTHING.....CONGRATS.

You cut off your nose to spite your face......brilliant.

 

[bendog]

Inflationary pressure began on Jan 6

 

[g5000]

Here's Why Democrats' $3.5 Trillion Legislation Isn't (Quite) As Big As It Sounds

It's a lot of money, but still less than the Great Society — and still not what they spend in Europe.

www.huffpost.com

In fact it includes Medicare and other items that save $1T.

Including savings on drug costs. Something long overdue

The argument that other countries and LBJ spent more is not a sound one. It's the fiscal analog of moral equivalency.

 

[Decus]

So now we're going to get lost in THOSE weeds?

Bottom line is that we do NOT pay down the debt. Ever. We pay the interest. That's how the system works.

And guess what? The interest is affordable

Interest payments on the Federal debt are projected to be over $524 billion dollars in 2021. How many projects can you fund for $524 billion dollars???

Government - Interest Expense on the Debt Outstanding

The interest is NOT affordable and a terrible waste of taxpayer funds.

.

 

[Ordinary Guy]

no.....the Democrats said those were tax-cuts for the wealthy...and besides....Pelosi says they were just crumbs to us peeons anyway..and Democrats never lie.

all I can say is during Obama we wrote another check outside withholding for $6k-$8k with same deductions, that amount dropped to $800 to $1000 during Trump but actual withholding dropped as well.

 

[BluesLegend]

no.....the Democrats said those were tax-cuts for the wealthy...and besides....Pelosi says they were just crumbs to us peeons anyway..and Democrats never lie.

While whining about the actual tax increase on the wealthy the SALT cap.