The debt limit!

[JimH52]

Since the two parties no longer have the ability to work together like normal, reasonable adults, they figure that any change has to come from crisis.

This ain't the way it's supposed to work, the parties know that, but that's where we are in our decline: The deck hands pointing at each other while the Titanic sinks.

And we sit...realizing that we can do nothing about it...while they play their childish games of economic chicken.

 

[Ray From Cleveland]

Since the two parties no longer have the ability to work together like normal, reasonable adults, they figure that any change has to come from crisis.

This ain't the way it's supposed to work, the parties know that, but that's where we are in our decline: The deck hands pointing at each other while the Titanic sinks.

It's sinking because the public doesn't pay attention or care. Don't worry about it, government will figure it out.

That's why I'm all for a consumption tax to erase all new deficits. If the deficit increases, so does the consumption tax. When people have to pay for this spending, they will make sure their voices are heard.

 

[Nostra]

And we sit...realizing that we can do nothing about it...while they play their childish games of economic chicken.

Link us up to all the times when you clowns started bleating DEFAULT ON THE DEBT that we actually defaulted on our debt.
I’ll wait.

 

[hadit]

If the moronic MAGA members of the House push the country into default...the real GOP will suffer for generations to come.

Then it sounds like a good idea for the democrats to negotiate, right? Why is it that larger numbers is only a problem when Republicans have them? It's okay for the democrats to run a mini-dictatorship with everyone bowing to the queen bee who rules with an iron fist, but boy, don't let the other guys have any power. It's okay for them to force the minority party to negotiate to get anything they want, but not for Republicans to do it?

 

[hadit]

It's sinking because the public doesn't pay attention or care. Don't worry about it, government will figure it out.

That's why I'm all for a consumption tax to erase all new deficits. If the deficit increases, so does the consumption tax. When people have to pay for this spending, they will make sure their voices are heard.

Failing that, eliminate payroll withholding. If you had to write a check every quarter, it would sink in real quick just how much you're losing to the government with every paycheck. Even if you got a refund back at the end of the year, you would still have to make that payment and it would be painful for a lot of people to see how much of their money the government gets to use interest free. Then, move election day to the day after that check is due in one of the quarters. Not after April 15, we need to get people voting right after they make one of their payments to the government.

 

[Godboy]

Of course you will…

He will cut taxes and increase spending like all Republicans

No, that isnt going to happen. Conservatives actually have values that we dont throw away depending upon which way the wind is blowing at any given moment.

 

[JimH52]

No, that isnt going to happen. Conservatives actually have values that we dont throw away depending upon which way the wind is blowing at any given moment.

You wanna crash the economy under Biden...while you let trump screw up royally. He gave the 1%ers Billions and then bragged about it a Mar a lugo.

 

[jbander]

No, that isnt going to happen. Conservatives actually have values that we dont throw away depending upon which way the wind is blowing at any given moment.

This is comedy,

 

[jbander]

No, that isnt going to happen. Conservatives actually have values that we dont throw away depending upon which way the wind is blowing at any given moment.

Your hate group you call a party looks like a criminal organization to me. And the jail sentences will prove me right.

 

[jbander]

Same difference. Losing these "free rides" will force business to raise prices for the ultimate consumer.

I've never been a big advocate of business taxes , they can dump them as long as it is compensated by the corresponding increase in personal tax rates. Apples to apples. But that's not what the wacko right wants, they want to get rid of business taxes and not replace it with corresponding numbers. They are idiots.

 

[Papageorgio]

If the moronic MAGA members of the House push the country into default...the real GOP will suffer for generations to come.

It won’t happen but dream on.

 

[Papageorgio]

Since the two parties no longer have the ability to work together like normal, reasonable adults, they figure that any change has to come from crisis.

This ain't the way it's supposed to work, the parties know that, but that's where we are in our decline: The deck hands pointing at each other while the Titanic sinks.

Yet you vote for them, happily. You are part of the problem.

 

[JimH52]

Your hate group you call a party looks like a criminal organization to me. And the jail sentences will prove me right.

They are led by a political Mafia Boss.

 

[Flopper]

Preparing to ‘play chicken’ with default: Understanding Republicans’ ‘debt limit terror’​

The United States is the only major industrial nation with a debt ceiling. America’s debt ceiling, moreover, applies only to budgetary appropriations that have already been made; it has no impact on future spending or borrowing. Indeed, as one legal scholar has argued, since legislation passed by Congress and signed by the president implicitly authorizes the U.S. Treasury to spend the money necessary to implement it, a separate requirement to increase the accrued debt creates the possibility of default, and may therefore be unconstitutional.

In any event, although debates about the national debt have become increasingly partisan, Congress and the president have agreed to increase the debt ceiling over 100 times since World War II. The debt limit has also been “suspended” — a distinction, made for political reasons, without a substantive difference — seven times. The debt ceiling was raised three times while Donald Trump was President. In 2019, when Congress suspended the debt ceiling until July 2021, Trump exulted that the agreement was “phenomenal.” The ceiling has been raised twice with Joe Biden in the White House.

Preparing to ‘play chicken’ with default: Understanding Republicans’ ‘debt limit terror’

Moody’s has estimated default could result in a 4 percent drop in GDP, 9 percent unemployment and a $15 trillion loss in household wealth.

thehill.com

We can't worry about the debt, Biden has one more time to raise the debt. If if's good for tramp why not make it good for Biden.

The national debt has increased under every presidential administration since Herbert Hoover. The United States has raised its debt ceiling at least 90 times and has never reduced it. Also the US is the only country in the world that has a debt ceiling.

The debt ceiling should be abolished for following reasons.

• The debt ceiling does not serve any useful purpose. It has not imposed any fiscal discipline on Congress.
• We don’t know what would happen to interest rates and the standing of the U.S. if Congress someday failed to raise the debt ceiling, but we do know the effects would be very negative. This is not a risk we should take.
• Our country faces a lot of long-term economic challenges— high levels of inequality and limited economic mobility, slow productivity growth, climate change, high health care costs, and an unsustainable trajectory for the federal debt. We should address those directly. Bickering over the debt ceiling is a waste of time and energy, creates unnecessary uncertainty, threatens the benefits of issuing the world’s safest asset and undermines public confidence in our political institutions.

Why Congress needs to abolish the debt limit: Testimony before the House Budget Committee | Brookings

Louise Sheiner presents testimony to the House Budget Committee in support of abolishing the debt limit.

www.brookings.edu

 

[Ray From Cleveland]

Failing that, eliminate payroll withholding. If you had to write a check every quarter, it would sink in real quick just how much you're losing to the government with every paycheck. Even if you got a refund back at the end of the year, you would still have to make that payment and it would be painful for a lot of people to see how much of their money the government gets to use interest free. Then, move election day to the day after that check is due in one of the quarters. Not after April 15, we need to get people voting right after they make one of their payments to the government.

If we did that then the 87,000 new IRS agents Dementia wants to hire wouldn't be nearly enough. I understand the point but the reason we have social safety nets in the first place is for the large percentage of our country not responsible enough to do the right thing.

IMO there is only one way to bring this spending under control, and that is to get everybody involved in it. When they passed the 1.7 trillion dollar pork bill, did anybody care? Outside of us who follow politics nobody did because it didn't affect their lives. It's just another day.

If that passage of the bill increased our consumption tax from five cents on the dollar to eight cents on the dollar, it would be a cold day in hell before the Democrats would ever take leadership again.

 

[Flopper]

The US is only country in the world that votes on whether the nation will honor is promises to it's people and the holders of the nations debt.

 

[rightwinger]

You are right, but the only way to stop them from taking control of s[pending every year is by calling their bluff. Like I said if business sees the squeeze they will tear the right apart. They own the republicans.

Republicans talk the talk, but they don’t walk the walk

They fear the wrath of the public if they intentionally threw the economy into chaos

 

[rightwinger]

Then it sounds like a good idea for the democrats to negotiate, right? Why is it that larger numbers is only a problem when Republicans have them? It's okay for the democrats to run a mini-dictatorship with everyone bowing to the queen bee who rules with an iron fist, but boy, don't let the other guys have any power. It's okay for them to force the minority party to negotiate to get anything they want, but not for Republicans to do it?

Democrats don’t negotiate with terrorists

 

[Ray From Cleveland]

Democrats don’t negotiate with terrorists

4 prisoners Obama exchanged for Bowe Bergdahl now in senior Taliban posts

Four of five former Guantanamo detainees whom former President Barack Obama released in exchange for Bowe Bergdahl in 2014 now hold senior roles in the Taliban's interim government.

www.foxnews.com

 

[eddiew37]

Does even one of our republican traitors know that ONE QUARTER of our debt was accumulated in Dumps 4 years????