The debt limit!

[busybee01]

Continually raising the debt limit, the FED printing more money, and idiotic wasteful spending is what caused the 9.1% inflation rate under the first year of Biden, as opposed to to the 1.5% inflation rate we had in February of 2019.

How many times does an idiot stick a fork in a wall socket before they realized they're getting the fuck shocked out of them?

No it did not. What is happening bis big businesses are raising prices to increase their profits. If they were raising prices because their costs are skyrocketing, then profits would not be increasing as much as they are. Their costs may go up 5% but they increase prices 10%.

 

[busybee01]

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

Trump also gave out big tax cuts which increased the deficit.

 

[Nostra]

When did I say that, CLOWN?

Got you and the other idiot Moonglow mixed up. I do that with you single digit IQ Dimwingers from time to time.

 

[Nostra]

So now your lie is they never add a new department?

Your lies are mounting fast today.

Moonglow where did you run off to?

 

[Ray From Cleveland]

Trump also gave out big tax cuts which increased the deficit.

At least it went to the American people and not some corrupt European country.

 

[Nostra]

Trump also gave out big tax cuts which increased the deficit.

The tax cuts didn't increase the deficit, they increased revenues. Spending that was out of control under Dimwinget run House and Senate ran up the deficit, Simp.

 

[Ray From Cleveland]

No it did not. What is happening bis big businesses are raising prices to increase their profits. If they were raising prices because their costs are skyrocketing, then profits would not be increasing as much as they are. Their costs may go up 5% but they increase prices 10%.

So we have a labor shortage where the only way to attract workers is to greatly increase pay offers. But companies can't pay new workers more than the current workers, so all workers get an increase. Fuel had doubled in price. In spite of our gasoline going a little bit lower, diesel is still ridiculously high. That brings us to utilities which also doubled in price in some places.

Labor costs: huge increase.
Utility costs: huge increase.
Transportation costs: huge increase.

This isn't algebra, this is 2+2=4. All these huge business costs gets passed down to the consumer which means huge inflation.

 

[Clipper]

Got you and the other idiot Moonglow mixed up. I do that with you single digit IQ Dimwingers from time to time.

Then you must get Trump mixed up with the toddler caucus in the GOP Nuthouse of Representatives. They both come up with some of the same empty headed rants & lunacy.

Trump ran his University & the retard caucus are graduates. As is Ron Johnson.

 

[80zephyr]

It will keep going up, no Congress or President will ever drop the debt. It is just politics as usual.

Truth!! Cutting the spending will lead to losing elections. W will spend to bankruptcy.

 

[sparky]

Truth!! Cutting the spending will lead to losing elections. W will spend to bankruptcy.

We've been a bankrupt nation for a while IMHO

Nothing our Congresscritters have done in the past generation have slowed down the juggernaut

Inflation is the debtors friend , until the debtee's well runs dry.....

~S~

 

[Orangecat]

Somebody is sure triggered. Even when you go for insults, they're weak and lame. Americans were a WHOLE lot smarter when Democrats were running the country.

You lead a really sad life, obsessing over another country’s politics.

 

[Nostra]

Then you must get Trump mixed up with the toddler caucus in the GOP Nuthouse of Representatives. They both come up with some of the same empty headed rants & lunacy.

Trump ran his University & the retard caucus are graduates. As is Ron Johnson.

Nope. Just you Dimtard single digit IQ types. You all share the same half a brain, and only use 1/4 of it.

 

[Ray From Cleveland]

You lead a really sad life, obsessing over another country’s politics.

How exciting can politics be in Commieda? We have people from all over come here (particularly Europe) because their politics is just plain boring.

 

[jbander]

No. You dont get to decide.

who in the hell decides , the politicians decide, and you pick the politician that represents what you think is right. You decide. If the people decide they want something from the government , then raise the taxes to get it. Not complicated at all. You hate Nazis think that it is your decision , that makes you wrong .

 

[jbander]

Money is a necessary part of our economy. It is a medium of exchange. Everybody needs money on their pocket to buy food and pay the rent.

That said.

Our constitution gives congress the authority to create our money. When congress creates money there is no debt and there is no interest.

So then, why do we borrow it from a private bank creating debt and interest? This makes no sense.

Because printing money devalues the dollar and that then lowers the interest rate and make are products more competitive in the world market. Lot of it can be printed, but the balance is critical , the solution is tax the filthy fat rich. Simple

 

[P F Tinmore]

Because printing money devalues the dollar and that then lowers the interest rate and make are products more competitive in the world market. Lot of it can be printed, but the balance is critical , the solution is tax the filthy fat rich. Simple

Indeed, and raising the debt limit means printing more money.

If an economy is expanding, it will need more money. If it is not, it just creates inflation.

 

[jbander]

Something Republicans should consider before playing chicken with the debt limit.

IF YOU ARE CONCERNED AT ALL ABOUT THE ECONOMY, YOU WOULD BE A ABSOLUTE IDIOT TO VOTE FOR ANY RIGHT WINGER FOR PRESIDENT>

 

[jbander]

Indeed, and raising the debt limit means printing more money.

If an economy is expanding, it will need more money. If it is not, it just creates inflation.

Not true, raise the debt ceiling and raise taxes to pay for it. Tax the overstuffed. Like I said, some can be resolved by printing money., It is a critical balancing act.

 

[jbander]

Printing money is a tool that economist can use to resolver some economic issues, but there are multiple tools , printing money resolve some things , improves something's but also can make some things worse. But the point is it is just a economic tool.

 

[P F Tinmore]

Printing money is a tool that economist can use to resolver some economic issues, but there are multiple tools , printing money resolve some things , improves something's but also can make some things worse. But the point is it is just a economic tool.

MMT is pretty good at explaining that.

However, that deviates from my original post. I was questioning why we were borrowing money to be repaid with interest when we can print it ourselves at no cost