Deficit Increased by $7B under Trump, But now the GOP tries to claim fiscal Responsibility????

[Toddsterpatriot]

You don't understand what the debt ceiling is

You don't understand how checks work.

 

[Admiral Rockwell Tory]

Ya know what GDP was in 2019? BEFORE the pandemic? yea. 2%

The GDP in 2019 was 1.95%, not 2%.

 

[Lesh]

What about all the tax increases contained within the bill? They easily violate Biden's ridiculous claims that people making less than $400,000 a year would see no new or higher taxes.

Well let's hear about those taxes you old fuck. WHAT taxes are 'in the bill". Links would be nice fuckhead

 

[Lesh]

The GDP in 2019 was 1.95%, not 2%.

You're right. Trump had screwed things up worse than I gave him credit for

 

[The Banker]

the GOP didn't do 1/10th as much deficit spending as the Dims, turd. Trump increased deficit spending by $1 trillion over 4 years, but Biden will increase the deficit by $7 trillion in one year, and you blame Republicans for the deficit. How fuck stupid and dishonest can a person be?

what are you fuckin stupid. You are just completely lying. Typical Trump trash lying about everything.

Trump increased the deficit by $7B a record for just 4 years.

In 2016 the budget deficit was $587 B/year. Trump doubled that to $1.1 T by 2020, then covid hit and Trump doubled it again.

You're a dumb fuck, and a liar

 

[Toddsterpatriot]

The United States debt ceiling or debt limit is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury, thus limiting how much money the federal government may pay on the debt they already borrowed.

"already borrowed"

EXISTING OBLIGATIONS

Link?

 

[Admiral Rockwell Tory]

How many times have you fuckers made claims like that and forgotten them instantly when they didn't happen?

About one in a hundred that it didn't happen! Pelosi and the Dems tanked the economy in 2008 to ensure Obama was elected.

 

[Lesh]

Link?

United States debt ceiling - Wikipedia

en.wikipedia.org

 

[Lesh]

About one in a hundred that it didn't happen! Pelosi and the Dems tanked the economy in 2008 to ensure Obama was elected.

Holy shit.

That's probably the most dishonest thing you have ever said...and you're a habitual liar.

That Recession started before ANY legislation that was passed by the Dem house took effect.

But hell...why not tell us HOW that actually happened you lying old fuck

 

[Eric Arthur Blair]

Trump added TWO trillion to give his cronies a tax cut and you said NOTHING.

You have proof of course from a reputable source.

And newsflash...this 3.5T is paid for in Medicare Plan D drug savings (by negotiating like the VA does) and small tax increases for the top tax bracket and Cap gains.

Of course the rich and drug companies are fighting it tooth and nail

That's your imaginary plan, anyway. If the socialists on the left could tax Bezos and Zuckeberg and Bloomberg
etcetera any appreciable amount it would have already been done.

Millionaires in Congress like Pelosi, Feinstein and Mark Warner are going to raise their own taxes?
Gfy.

 

[Toddsterpatriot]

United States debt ceiling - Wikipedia

en.wikipedia.org

You don't have a real source? LOL!

 

[Lesh]

You don't have a real source? LOL!

I gave you a source...

You provided NOTHING

 

[Lesh]

You don't have a real source? LOL!

Under Article I Section 8 of the United States Constitution, only Congress can authorize the borrowing of money on the credit of the United States. From the founding of the United States until 1917, Congress directly authorized each individual debt issued. To provide more flexibility to finance the United States' involvement in World War I, Congress modified the method by which it authorized debt in the Second Liberty Bond Act of 1917.[3] Under this Act, Congress established an aggregate limit, or "ceiling," on the total amount of new bonds that could be issued.

The present debt ceiling is an aggregate limit applied to nearly all federal debt, which was substantially established by the Public Debt Acts[4][5] of 1939 and 1941 which have subsequently been amended to change the ceiling amount.

From time to time, political disputes arise when the Treasury advises Congress that the debt ceiling is about to be reached and indicating that a default is imminent. When the debt ceiling is reached, and pending an increase in the limit, Treasury may resort to "extraordinary measures" to buy more time before the ceiling can be raised by Congress. The United States has never reached the point of default where Treasury was incapable of paying U.S. debt obligations, though it has been close on several occasions. The only exception was during the War of 1812 when parts of Washington D.C. including the Treasury were burned.[6]

Note the (2) those are annotations...links to sources

 

[Lesh]

Millionaires in Congress like Pelosi, Feinstein and Mark Warner are going to raise their own taxes?

Yes. They've done it before

 

[Admiral Rockwell Tory]

Fuck yourself cappy.

Cappy? If I didn't know better I would say you were drinking underage.

 

[Eric Arthur Blair]

Yes. They've done it before

Woolly mammoths wandered the globe at one time too. Doesn't mean it will happen again.

What are Pelosi and the other fat cats waiting for? The next ice age to strike?
They could tax the rich at any time.

You are too fucking funny and outlandish (and dishonest) for words.

 

[Lesh]

Cappy? If I didn't know better I would say you were drinking underage.

Problem is you old fat fuck...you don't know shit...cappy

 

[Toddsterpatriot]

I gave you a source...

You provided NOTHING

A source that claimed you need to borrow to pay interest. LOL!

Second, infusions of cash to the Treasury from tax revenues vary greatly by month, and tax revenues in October and November tend to be fairly muted. Thus, the required cuts to federal spending when an increase in federal debt is precluded are particularly large during these months. If Treasury wanted to be certain that it always had sufficient cash on hand to cover all interest payments, it might need to cut non-interest spending by more than 40 percent.

How worried should we be if the debt ceiling isn’t lifted? | Brookings

If the debt limit binds, how would the U.S. Treasury operate? How much would federal spending have to be cut? How would the economy be affected? Wendy Edelberg and Louise Sheiner explain the stakes and potential ramifications.

www.brookings.edu

 

[Lesh]

Woolly mammoths wandered the globe at one time too. Doesn't mean it will happen again.

So your claim was that it wasn't possible for Dems to raise their own taxes...and when confronted with the fact that they HASVE done so (in fact several times) in the past...THAT is your stupid response??

 

[Lesh]

A source that claimed you need to borrow to pay interest. LOL!

Second, infusions of cash to the Treasury from tax revenues vary greatly by month, and tax revenues in October and November tend to be fairly muted. Thus, the required cuts to federal spending when an increase in federal debt is precluded are particularly large during these months. If Treasury wanted to be certain that it always had sufficient cash on hand to cover all interest payments, it might need to cut non-interest spending by more than 40 percent.

How worried should we be if the debt ceiling isn’t lifted? | Brookings

If the debt limit binds, how would the U.S. Treasury operate? How much would federal spending have to be cut? How would the economy be affected? Wendy Edelberg and Louise Sheiner explain the stakes and potential ramifications.

www.brookings.edu

Do you have ADD? You wanted an explanation of the debt ceiling. You got it.

What do you want to be educated about now?