Where will the money come from to pay for HR 1?

[Slade3200]

I would love that too.

Then do it:
I would love for you to acknowledge that our massive debt isn't a good thing instead of trying to pooh-pooh it.

Prove to me that it is and I’ll gladly acknowledge it

 

[Orangecat]

Then do it:
I would love for you to acknowledge that our massive debt isn't a good thing instead of trying to pooh-pooh it.

Prove to me that it is and I’ll gladly acknowledge it

You need proof that $28 trillion in debt isn't good?
Piss off.

 

[Slade3200]

Then do it:
I would love for you to acknowledge that our massive debt isn't a good thing instead of trying to pooh-pooh it.

Prove to me that it is and I’ll gladly acknowledge it

You need proof that $28 trillion in debt isn't good?
Piss off.

Yes, sounds like you don’t have an argument to back it up.

 

[Orangecat]

Yes, sounds like you don’t have an argument to back it up.

I don't need an argument. Rational adults know we have a debt problem.

 

[Stryder50]

The US is a country with a treasury and can pay for things using taxation of its citizens, as well as selling treasury bonds or other financialization tools such as loaning to banks.

And yet we have the highest debt in human history. Perhaps we should rethink the practice of borrowing from future generations.

It is not the amount that is being borrowed that matters. It is about the cost of servicing that debt, and it is cheap as shit. Hell, about a year ago the federal government got PAID to borrow money. Few people have a grasp of finance, that is unfortunate.

A bit more to it than that. Here's some numbers to consider. Note in the upper right is a "time machine" function for looking back over the recent decades to gauge the growth/increase of deficit and debt. The younger you are, the more you'll be paying this off and/or dealing with the inflation and devaluation it creates. Of course our children, grandchildren, etc. will have a larger share of the burden it produces.

https://www.usdebtclock.org/

 

[Slade3200]

Yes, sounds like you don’t have an argument to back it up.

I don't need an argument. Rational adults know we have a debt problem.

Well if you’re so rational then why don’t you rationally tell me how it is going to cause me or you problems?

 

[Orangecat]

Well if you’re so rational then why don’t you rationally tell me how it is going to cause me or you problems?

I never claimed it would cause you or I problems. That's called a straw man argument employed by you.
Someone is going to have to pay it back, and here you are agreeing:

Do you think we should default on paying it back?

No way, why would we do that?

So you think paying back $28 trillion dollars won't be a detriment to those who eventually have to do it? Grow up and stop advocating borrowing money for someone else to repay.
If we can't even agree that holding and growing the highest debt in human history is a ticking time bomb, there's no need to continue this discussion. I'm not going to play that silly liberal game of "debt is good". It's not. It's spending money you don't have for immediate gratification, instead of staying within your means and controlling your inner child that's having a tantrum in the candy aisle.

 

[Stryder50]

Well if you’re so rational then why don’t you rationally tell me how it is going to cause me or you problems?

I never claimed it would cause you or I problems. That's called a straw man argument employed by you.
Someone is going to have to pay it back, and here you are agreeing:

Do you think we should default on paying it back?

No way, why would we do that?

So you think paying back $28 trillion dollars won't be a detriment to those who eventually have to do it? Grow up and stop advocating borrowing money for someone else to repay.
If we can't even agree that holding and growing the highest debt in human history is a ticking time bomb, there's no need to continue this discussion. I'm not going to play that silly liberal game of "debt is good". It's not. It's spending money you don't have for immediate gratification, instead of staying within your means and controlling your inner child that's having a tantrum in the candy aisle.

Actually, that $28 Trillion is "immediate" Deficit on the annual national budget, essentially unfunded and "borrowed" by printing money to cover the "bonds" "sold" to the Treasury. There's a sort of Ponzi scheme playing out but since it's by the Guv'mint it's "Legal" ~ sort of. Financially it's still Debt and a drag down on the dollar and it's purchase power, etc. ...

The larger Problem some might not pick up on in the link I just provided above is the "Unfunded Liabilities" portion such as: "Social Security", Government Pensions and Benefits, and Interest and Principal on the Deficit/Debt, ETC.; to the tune of another @$160 trillion.

So rounding off, at this time, there's about a $190 Trillion Debt load owed payment upon Principle of by the about 330 million USA Citizens. Of which ONLY about 125 million (just over a third) are actual "TaxPayers".

Put another way, almost two thirds of our nation are the "freeloaders" riding on the debt and redistributed wealth of the other third and those are resources rapidly shrinking. So get ready for a near future "Big Bust of Economy/Dollar" folks.

https://www.usdebtclock.org/

 

[Orangecat]

Actually, that $28 Trillion is "immediate" Deficit on the annual national budget, essentially unfunded and "borrowed" by printing money to cover the "bonds" "sold" to the Treasury. There's a sort of Ponzi scheme playing out but since it's by the Guv'mint it's "Legal" ~ sort of. Financially it's still Debt and a drag down on the dollar and it's purchase power, etc. ...

Indoctrinated drones like slade3200 lack the deductive reasoning skills to comprehend that, obviously.

 

[Care4all]

What could HR1 possibly cost? It's a voting rights bill, no?

https://www.congress.gov/bill/117th-congress/house-bill/1/text?q={"search"%3A%5B"hr1"%5D%7D&r=1&s=2

 

[Slade3200]

Well if you’re so rational then why don’t you rationally tell me how it is going to cause me or you problems?

I never claimed it would cause you or I problems. That's called a straw man argument employed by you.
Someone is going to have to pay it back, and here you are agreeing:

Do you think we should default on paying it back?

No way, why would we do that?

So you think paying back $28 trillion dollars won't be a detriment to those who eventually have to do it? Grow up and stop advocating borrowing money for someone else to repay.
If we can't even agree that holding and growing the highest debt in human history is a ticking time bomb, there's no need to continue this discussion. I'm not going to play that silly liberal game of "debt is good". It's not. It's spending money you don't have for immediate gratification, instead of staying within your means and controlling your inner child that's having a tantrum in the candy aisle.

I’m just looking for you to lay out some knowledge and explain how this debt is going to effect us. If not you and I then who and how? Who do you think is going to have to pay it back? When are they going to have to pay it? And how is it going to effect us as a country?

 

[Slade3200]

Well if you’re so rational then why don’t you rationally tell me how it is going to cause me or you problems?

I never claimed it would cause you or I problems. That's called a straw man argument employed by you.
Someone is going to have to pay it back, and here you are agreeing:

Do you think we should default on paying it back?

No way, why would we do that?

So you think paying back $28 trillion dollars won't be a detriment to those who eventually have to do it? Grow up and stop advocating borrowing money for someone else to repay.
If we can't even agree that holding and growing the highest debt in human history is a ticking time bomb, there's no need to continue this discussion. I'm not going to play that silly liberal game of "debt is good". It's not. It's spending money you don't have for immediate gratification, instead of staying within your means and controlling your inner child that's having a tantrum in the candy aisle.

Actually, that $28 Trillion is "immediate" Deficit on the annual national budget, essentially unfunded and "borrowed" by printing money to cover the "bonds" "sold" to the Treasury. There's a sort of Ponzi scheme playing out but since it's by the Guv'mint it's "Legal" ~ sort of. Financially it's still Debt and a drag down on the dollar and it's purchase power, etc. ...

The larger Problem some might not pick up on in the link I just provided above is the "Unfunded Liabilities" portion such as: "Social Security", Government Pensions and Benefits, and Interest and Principal on the Deficit/Debt, ETC.; to the tune of another @$160 trillion.

So rounding off, at this time, there's about a $190 Trillion Debt load owed payment upon Principle of by the about 330 million USA Citizens. Of which ONLY about 125 million (just over a third) are actual "TaxPayers".

Put another way, almost two thirds of our nation are the "freeloaders" riding on the debt and redistributed wealth of the other third and those are resources rapidly shrinking. So get ready for a near future "Big Bust of Economy/Dollar" folks.

https://www.usdebtclock.org/

At what point does the dollar bust? What is going to cause it to bust?

 

[Slade3200]

Actually, that $28 Trillion is "immediate" Deficit on the annual national budget, essentially unfunded and "borrowed" by printing money to cover the "bonds" "sold" to the Treasury. There's a sort of Ponzi scheme playing out but since it's by the Guv'mint it's "Legal" ~ sort of. Financially it's still Debt and a drag down on the dollar and it's purchase power, etc. ...

Indoctrinated drones like slade3200 lack the deductive reasoning skills to comprehend that, obviously.

I’m simply asking questions and instead of actually answering and discussing details you seem to just be getting angry and flinging insults. Makes it seem as if you don’t know what you’re talking about.

 

[Orangecat]

I’m just looking for you to lay out some knowledge and explain how this debt is going to effect us. If not you and I then who and how? Who do you think is going to have to pay it back? When are they going to have to pay it? And how is it going to effect us as a country?

Try reading the thread instead of mindlessly regurgitating your spin, kid.

 

[Orangecat]

I’m simply asking questions and instead of actually answering and discussing details you seem to just be getting angry and flinging insults.

I'm not angry at all. Any thinking adult knows our debt is a problem.

Makes it seem as if you don’t know what you’re talking about.

It may seem that way to fools, true.

 

[Slade3200]

I’m just looking for you to lay out some knowledge and explain how this debt is going to effect us. If not you and I then who and how? Who do you think is going to have to pay it back? When are they going to have to pay it? And how is it going to effect us as a country?

Try reading the thread instead of mindlessly regurgitating your spin, kid.

I’ve been reading. You’ve dodged all my questions or at the most given vague deflections and childish insults. You don’t understand enough about economics to back up your position... that much is obvious

 

[Slade3200]

I’m simply asking questions and instead of actually answering and discussing details you seem to just be getting angry and flinging insults.

I'm not angry at all. Any thinking adult knows our debt is a problem.

Makes it seem as if you don’t know what you’re talking about.

It may seem that way to fools, true.

The ol “everybody knows it” excuse doesn’t mean anything. If you can’t back it up with explanation and facts and details then you’re not reflecting understanding of the situation. You’re simply repeating stuff that you’ve been told.

 

[danielpalos]

I’m simply asking questions and instead of actually answering and discussing details you seem to just be getting angry and flinging insults.

I'm not angry at all. Any thinking adult knows our debt is a problem.

Makes it seem as if you don’t know what you’re talking about.

It may seem that way to fools, true.

Is that why Tax Cut economics is a standard operating procedure for the republicans?

 

[Orangecat]

Is that why Tax Cut economics is a standard operating procedure for the republicans?

Tax cuts don't add a penny to the deficit or debt. Spending does. Learn to think.

 

[Slade3200]

Is that why Tax Cut economics is a standard operating procedure for the republicans?

Tax cuts don't add a penny to the deficit or debt. Spending does. Learn to think.

Are you joking? Taxation is revenue. When you cut taxes it effects revenue and you don’t think that effects the deficit?! Wow you know even less about economics than I thought.