The Hard Reality of a Debt Ceiling Showdown: Jim Jordan eviscerates Biden for not negotiating with House Republicans

[Richard-H]

The Debt ceiling makes about as much sense as a Coin Operated Self-Destruct!

 

[Richard-H]

Do you all know what's worse than the Democrats "Tax and Spend" policies?

The Republicans "Not Taxing yet Spending as much as the Democrats"

 

[Richard-H]

Do you think there is any way to get Washington to cut spending in the budgetary process? I can't even get democrats to admit they have a spending problem too. Isn't it bad for congress to know they have a blank check for whatever spending mess they create? I'm not saying fighting the debt ceiling is an answer, but is there anything at all to get Washington to cut their spending?

Why is it that people like you only whine about the Federal Debt when there's a Democrat in Office?

Never a peep when there's a Republican in Office.

"I am not worried about the deficit. It is big enough to take care of itself." -Ronald Reagan

 

[BULLDOG]

A full 1/4 of the debt our country has acquired since it's inception was made during trump's term. Let that sink in for a minute. 1/4 of the total debt under trump, and his party. Now the repubs think it's a good idea to start worrying about it.

 

[Coyote]

Too funny. Shutting down the world for the flu is nobel. Shutting down (sort of) the US government because they won’t cut their ridiculously massive soending is a tragedy.

Refusing to pay the bills you’ve incurred is reckless. If you want to cut spending then don’t appropriate in the first place.

 

[Seymour Flops]

I believe the US credit rating was permanently downgraded.

Link?

 

[JusticeHammer]

Did Gym ever get around to reporting the sexual abuse of his wrestlers?

Stupid question from a stupid Dem.

 

[Seymour Flops]

Refusing to pay the bills you’ve incurred is reckless. If you want to cut spending then don’t appropriate in the first place.

Not a completely correct analogy.

It's more like refusing to cosign for limit increases on a non-working spouse's fistful of credit cards unless he or she agrees to some very reasonable limits on future spending.

 

[Coyote]

Not a completely correct analogy.

It's more like refusing to cosign for limit increases on a non-working spouse's fistful of credit cards unless he or she agrees to some very reasonable limits on future spending.

Disagree. You pay bills, then change your spending. Government shutdowns wreak havoc.

 

[Zincwarrior]

Link?

You link. The internet is out there.

 

[Zincwarrior]

Disagree. You pay bills, then change your spending. Government shutdowns wreak havoc.

TV is already warning of the evilz coming. The Democrats set a trap and the CHRISTOMAGAs are gleefully cartwheeling into it.

 

[Seymour Flops]

Disagree. You pay bills, then change your spending. Government shutdowns wreak havoc.

The last ones saved money.

This spouse won't slow the spending down if we raise the limit first and then negotiate after. They will just cackle at us and call us a stupid loser..

 

[Seymour Flops]

You link. The internet is out there.

I googled the internet and found out through that research you are wrong.

 

[Zincwarrior]

I googled the internet and found out through that research you are wrong.

Moody's would like to have a word.

 

[Coyote]

The last ones saved money.

This spouse won't slow the spending down if we raise the limit first and then negotiate after. They will just cackle at us and call us a stupid loser..

The problem here is the one saying we won’t pay our bills are the ones responsible for a huge chunk of our debt. No. You pay your bills. Then change your spending.

 

[BackAgain]

The debt ceiling shouldn't be a partisan issue. We need to pay our bills.

Brandon should honor his word and at least pretend to work in a bipartisan fashion. That would involve meetings, discussions and negotiations.

But Brandon (as we all know) is a compulsive liar and a stupid hack. So none of that will happen.

 

[Seymour Flops]

The problem here is the one saying we won’t pay our bills are the ones responsible for a huge chunk of our debt.

So, my spouse and I have both been on a drunken spending spree. But now one of us has wised up. It's up to the wise one to hold the still drunken one accountable. No more credit increases until we agree on a plan to stop heading toward bankruptcy.

No. You pay your bills. Then change your spending.

That would be great, if there was the slighear possibility that the Democrats would be willing to change their spending after they got exactly what they wanted from the Republicans to enable more spending.

Won't happen. No way. Not even in the realm of possibility. We will exceed the speed of light and develop capability to time travel, before the Democrats will ever want to slow down spending.

 

[Coyote]

So, my spouse and I have both been on a drunken spending spree. But now one of us has wised up. It's up to the wise one to hold the still drunken one accountable. No more credit increases until we agree on a plan to stop heading toward bankruptcy.

That is the problem. It isn’t a credit increase. That occurred in the appropriations process. This is the bill.

That would be great, if there was the slighear possibility that the Democrats would be willing to change their spending after they got exactly what they wanted from the Republicans to enable more spending.

After their spending spree under Trump combined with the cuts in revenue, the Republicans really don’t have a fiscal leg to stand on. That’s why they want to cut our social safetynet.

Won't happen. No way. Not even in the realm of possibility. We will exceed the speed of light and develop capability to time travel, before the Democrats will ever want to slow down spending.

 

[BULLDOG]

Brandon should honor his word and at least pretend to work in a bipartisan fashion. That would involve meetings, discussions and negotiations.

But Brandon (as we all know) is a compulsive liar and a stupid hack. So none of that will happen.

Work with someone who wants to shirk our obligations? You know that's just goofy, right?

 

[Seymour Flops]

That is the problem. It isn’t a credit increase. That occurred in the appropriations process. This is the bill.

Even if that is right, my analogy still stands. If I'm the finally sober spouse, I'm going to tell the lush that if they insist on spending us into bankruptcy, and not agreeing to an increase in the credit limit means bankruptcy, then we might as well go bankrupt now rather than pass debts onto our grandchildren we know they will be unable to pay.

If that threat forces Democrats to negotiate seriously over spending cuts, that will be a huge step toward fiscal responsibility.

After their spending spree under Trump combined with the cuts in revenue, the Republicans really don’t have a fiscal leg to stand on. That’s why they want to cut our social safetynet.

Trump cut taxes not revenue. He increased revenue, just not fast enough to keep up with the drunken spending.

Go Figure: Federal Revenues Hit All-Time Highs Under Trump Tax Cuts​

• 06:30 PM ET 10/16/2018

Taxes: Critics of the Trump tax cuts said they would blow a hole in the deficit. Yet individual income taxes climbed 6% in the just-ended fiscal year 2018, as the economy grew faster and created more jobs than expected.

The Treasury Department reported this week that individual income tax collections for FY 2018 totaled $1.7 trillion. That's up $14 billion from fiscal 2017, and an all-time high. And that's despite the fact that individual income tax rates got a significant cut this year as part of President Donald Trump's tax reform plan.

Income Taxes After Trump Tax Cuts​

True, the first three months of the fiscal year were before the tax cuts kicked in. But if you limit the accounting to this calendar year, individual income tax revenues are up by 5% through September.
Other major sources of revenue climbed as well, as the overall economy revived. FICA tax collections rose by more than 3%. Excise taxes jumped 13%.

The only category that was down? Corporate income taxes, which dropped by 31%.

Overall, federal revenues came in slightly higher in FY 2018 — up 0.5%.

Spending, on the other hand, was $127 billion higher in fiscal 2018. As a result, deficits for 2018 climbed $113 billion.

Let's compare these results with Obama's last full fiscal year in office, 2016.

Individual income tax revenues went up by a mere 0.3%, Treasury data show. Fiscal 2016 also saw a 13% drop in corporate income taxes. FICA tax collections climbed by less than 1%. Excise tax collections dropped almost 3%.

Overall revenues increased by 0.5% — about the same as this year. The deficit? It climbed by $148 billion.

So, in other words, the government did better on revenues and deficits in the year after Trump's tax cuts went into effect than it did in Obama's last year in office.

Democrats' most consistent logical failing is static reasoning. That is an early childhood developmental level in which a person believes that a change will not affect anything except that one thing being changed. That reasoning goes like this with tax cuts: 'if taxes are cut, the government will get less money.'

In fact, tax cuts have consistenly preceded increases in revenue, for reasons that are obvious to some and an unfathomable mystery to others.