The debt limit!

[Delldude]

LOL....your boy the super liberal.

 

[Delldude]

The difference is you can't create money. The Federal Government can. Also, you can't increase your debt limit. The Federal Government can.

LOL... how is my credit card limit any different than the Feds? My card people say, dude, you've reached you debt limit.....we can't raise your limit because you have lousy credit.

 

[DudleySmith]

A lot of it was borrowed and low or negative interest rates, and spread out over many years across a $150 trillion dollar economy; it isn't so much a debt issue as what it is being spent on, mostly worthless corporate welfare and no real spending on infrastructure and defense. As for 'inflation', that is almost all just price gouging due to little or no real competition in our domestic markets any more.

It's not like right wingers actually care about debt, they have yet another 'Fair Tax' scam to sell to the suckers at the moment.

 

[Flopper]

Then if it happens it happens. If Republicans give in to the commies and they continue putting us further and further in debt with their pork, the media will blame the Republicans just like they did under the two years with them in charge under Trump. If they hold tough and we end up in default, the lying MSM won't blame the Democrats for refusing to come to the table, once again, they will blame the Republicans.

What do we have to lose?

Do you serious believe that defaulting on our debt would accomplish anything other than adding higher interest payments to the deficit. Democrats would blame Republicans and Republicans would Democrats and the the only thing that would change would be higher deficits to cover higher interest payments and America's place as the safest place for sovereign debt would be challenged by Japan, China, and several European countries.

 

[Flopper]

That's what the Republicans are holding out for uninformed voter. They want concessions on spending in return of raising the ceiling so we won't have this problem again in the future. But asking a Communist to stop spending to gain power doesn't work. Their idea of compromise is do it our way, or take the highway.

Democrats are not going to agree to stop funding programs they consider essential. They cut the deficit in 2021, 2022, 2023 est., and 2024 est.

 

[Dekster]

The GOP won't let us default. They will pass some nominal debt increase that will keep Biden from being able to fund much of anything else new.

 

[Ray From Cleveland]

Democrats are not going to agree to stop funding programs they consider essential. They cut the deficit in 2021, 2022, 2023 est., and 2024 est.

No they did not and I supplied my source to you about that.

It's not about essential programs, it's about vote buying like wanting to spend nearly a half-trillion to buy votes of younger people paying for college. It's about giving millions to leftist places like the Kennedy center. It's about spending millions to fund an LGBQRST museum and black wax museum. It's about the millions they are going to spend on a Moochele Obama trail. It's about the 100 billion we gave to Ukraine for their war with the promise of more if they need it. It's about tearing down perfectly good bridges because the left deemed them racist and building brand new ones. It's about the hundreds of billions spending on something we have absolutely no control over like climate change. It's about the millions taxpayers are paying to give discounts to low income people that don't want to work on their internet and cable bill, and some getting it for free.

It's about the tremendous waste of money buying votes and pork the Democrats want to continue.

 

[Ray From Cleveland]

Do you serious believe that defaulting on our debt would accomplish anything other than adding higher interest payments to the deficit. Democrats would blame Republicans and Republicans would Democrats and the the only thing that would change would be higher deficits to cover higher interest payments and America's place as the safest place for sovereign debt would be challenged by Japan, China, and several European countries.

Perhaps, but Democrats could stop that from happening, but they won't. It's the Democrat motto: You do it my way or take the highway.

 

[Nostra]

A government shutdown is the result of lawmakers disagreeing over how much to spend on future bills. A shutdown is not a default on the debt ceiling. Get a clue. You are so fucking ignorant and stupid.

Many of the shutdowns has been over the debt ceiling, Simp.

So tell us how many times have we defaulted in the debt. Give us the number, Dumbass.

 

[Lesh]

When I reach my debt limit with a credit card, I must cut spending, immediately....how would this be any different?

You seem to have a fundamental misunderstanding here.

What you advocate is not paying off your EXISTING credit card debt

 

[Ray From Cleveland]

You seem to have a fundamental misunderstanding here.

What you advocate is not paying off your EXISTING credit card debt

That's not his point. His point is by adding to that debt, it only makes things much worse.

 

[Lesh]

That's not his point. His point is by adding to that debt, it only makes things much worse.

No it’s not. He wants to refuse to raise the debt ceiling to pay existing debt.

It’s like a husband trying to curb his wife’s excessive spending by not paying off the credit card debt, mortgage, and car payments.

The result would be bankruptcy

 

[Ray From Cleveland]

No it’s not. He wants to refuse to raise the debt ceiling to pay existing debt.

It’s like a husband trying to curb his wife’s excessive spending by not paying off the credit card debt, mortgage, and car payments.

The result would be bankruptcy

Correct, but the solution is not to keep giving your wife more credit cards to spend with. We would be in default, not bankruptcy. That's why it''s more important than ever for you to contact your dem representative and tell them to work with Republicans instead of insisting they won't move an inch on spending.

 

[Dadoalex]

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.

I have never understood the GOP position on this.

How many times does the GOP need to kick themselves in the nuts with this before they realized it's their own nuts they're kicking?

The ceiling will be raised or the fed will print money to pay the bills.
Only one reasonable choice.

 

[Dadoalex]

Unavoidable spending. There was a global pandemic, in case you have forgotten.

"At the end of fiscal year 2020, the debt was $26.9 trillion. Trump added $6.7 trillion to the debt between fiscal year 2017 and fiscal year 2020, a 33.1% increase, largely due to the effects of the coronavirus pandemic and 2020 recession.

In his FY 2021 budget, Trump's budget included a $966 billion deficit.16 However, the national debt actually grew by $1.5 trillion between October 1, 2020, and October 1, 2021."

US Debt by President: Dollar and Percentage

So you're saying Trump was not responsible for increasing the debt by $7T but Biden is responsible for the inflation the increase caused?

HMMMMM....

 

[JGalt]

So you're saying Trump was not responsible for increasing the debt by $7T but Biden is responsible for the inflation the increase caused?

HMMMMM....

Actually China was responsible. The largest part of Trump's spending was in response to the COVID pandemic.

 

[Rigby5]

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.

Wrong.
Debt means not only stealing from our children, but is saddling the future with continual poverty.
The ONLY time an unbalanced budget makes any sense at all is when you borrow for something that will increase production much more than the debt it creates, like the St. Lawrence Seaway, Interstate Highway system, Hoover Dam, etc.

Debt in order to help Kyiv to steal oil from the Russians or put NATO nukes on Russia's border, is criminal.

 

[Rigby5]

So you're saying Trump was not responsible for increasing the debt by $7T but Biden is responsible for the inflation the increase caused?

HMMMMM....

Wrong.
Trump did not cause inflation at all.
Prices were dropping under Trump.
Biden caused the price increase by the illegal economic sanctions against Russian oil.

 

[Rigby5]

Why was raising the debt limit BEFORE Covid necessary?
Why was Trump running trillion dollar deficits BEFORE COVID?

There was a recession caused by Bush over borrowing, and it did not entirely go away under Obama.
One can not fault Obama or Trump for some recovery borrowing.

 

[Delldude]

You seem to have a fundamental misunderstanding here.

What you advocate is not paying off your EXISTING credit card debt

No, just the reality of the situation. Only way one reaches their credit card debt limit is by using to spend too much. Once you reach your limit, the card doesn't work anymore until you pay down some of your debt. Which is counter to your lame assertion of not paying the existing balance off.

Duh....