Is it "Congress's" Constitutional Duty To Raise The Debt Ceiling?

[GMCGeneral]

To whom is that the "implication"?

That all Liberals want to eliminate the military and raise taxes all the way up to 100%

 

[Independent thinker]

I never said they did... What you did pretend earlier is that you were against spending (which you weren't since you can't post any proof to your well known lie).

That is the whole point. Democrats NEVER talk about cutting spending and now we are at 32 trillion dollars in debt.

 

[Independent thinker]

Trump was running up unprecedented amount of debt BEFORE the pandemic hit retard

I don't remember him wanting to spend 50 trillion dollars on the Green New Deal.

 

[Independent thinker]

Why are you asking MORE questions?

You're a coward and a fraud.

Don't complain about the shit resulting from your moronic choices for POTUS. Own them.

Now acknowledge.

You're a coward and a fraud. Everyone here knows that.

 

[Independent thinker]

Utter bunk.

The budget deficts fell under Democratic presidents with Democratic-controlled Houses...

FY1994: -$50b
FT1995: -$40b
FY2010: -$120b
FY2011: +$5b
FY2022: -$1,400b

Since the debt has been out of countrol, 4 out of those5 fiscal years saw a drop in the federal budget deficit. And even the one which went up, went up by only $5b.

That's because they inherited Republicans demanding fiscal responsibility.

 

[task0778]

Trump was running up unprecedented amount of debt BEFORE the pandemic hit retard

Thanks to Pelosi and the House democrats and those in the Senate. And don't give me crap about the tax cuts, revenue went UP after those cuts were passed.

 

[Faun]

That's because they inherited Republicans demanding fiscal responsibility.

More bunk.

They inherited no such thing.

 

[Natural Citizen]

Any mainstream discussion with regard to a so-called debt ceiling, particularly any discussion that's benchmarked upon terms of controversy which have been mediated by the the useful idiots working the cable news entertainment platforms, is meaningless and will always prove to be an unfruitful endeavor.

The problem is the monetary policy itself. The monetary policy itself demands that there always be more debt in the system than currency.

Placing that aside, Congress has been derelict in its constitutional duty for years.

They pretty much pass everything over to the court.

 

[Natural Citizen]

Ah jesus this bunch of bullshit again

Tax revenues ALWAYS increase unless we are in a Recession. You understand what GDP INCREASE means?

No? Oh

Well over 80% of the GDP is government spending.

Do you not grasp the significant relevance of this?

 

[WorldWatcher]

Thanks to Pelosi and the House democrats and those in the Senate. And don't give me crap about the tax cuts, revenue went UP after those cuts were passed.

Saying that tax cuts increase debt is not the same as saying tax cuts decrease revenue.

Take $100 in taxes in the current year. In the next year taxes would be $110 based on growth. However give a $5 tax cut and revenue is less than projected ($105 v. $110), there was a $5 tax cut, and yet revenue still increased year over year ($105 v. $100).

The term is "missed opportunity cost", which in the above example is $5 in revenue not realized.

WW

 

[jc456]

Only in your midnight confessions.

I don't need them.

 

[jc456]

not the same as saying tax cuts decrease revenue.

always increases revenue. Always.

 

[Independent thinker]

More bunk.

They inherited no such thing.

I see you are in denial.

 

[The5thHorseman]

I don't need them.

If you're seeing my ass, you must be.

 

[Blues Man]

Not only that, but you don't get to print up as much money as you want.





Unless the deal is super good for your side, most politicians will wait until the last minute, sign the bill anyway, and then tell the voters the bastards on the other side left us with no choice because the repercussions of a default are too horrific to contemplate. This deal was as good as we could get so we voted for it but really didn't want to.

As for trust, IMHO both parties blew that away a long time ago.

The deal isn't " super good" for any side which is the very definition of a good compromise.

The whiny assholes on the both the right and left who cry if they don't get everything they want need to grow up and realize this.

 

[jc456]

The point, dope, is there isn’t enough there to make much of a difference and it would be done at the expense of the most vulnerable people in the nation.

why? What changed?

 

[jc456]

If you're seeing my ass, you must be.

now you're flashing me? wow. you got you some issues bubba. LOL hahahaahahahhaa wow.

 

[Hutch Starskey]

why? What changed?

Huh?

 

[task0778]

Saying that tax cuts increase debt is not the same as saying tax cuts decrease revenue.

Democrats have been saying or implying that for decades. What we know is that revenue increased after the Trump tax cuts, what we do not know is what the effect would have been without the tax cuts. Some say that the higher tax rates would have resulted in more revenue IF economic growth remained static, but most economists would say that tax cuts do result in more money to invest and spend in the private sector and so in effect you have a lower tax rate applied to a larger GDP. Which is not to say that the tax cuts paid for themselves; they didn't. So, what would the debt increase have been without the tax cuts, more or less? Nobody knows the answer, but one thing is certain: the vast majority of people in the middle classes that pay taxes significantly benefitted from those tax cuts. Why? Cuz their tax rate went down and their standard deduction went up.

 

[Faun]

I see you are in denial.

No, I see you're making baseless claims that don't comport with reality.

In reality, from which you are not posting, All 3 of those Democratic presidents ... Clinton, Obama & Biden ... all came into office following previous years where Democrats controlled the House. So your claim that they "inherited Republicans demanding fiscal responsibility," really translates into they inherited fiscal responsibility from Democrats. That's not to say Democrats are fiscally responsible ... they're not. But the record shows they are more fiscally responsible than Republicans.