Annual interest on our debt will pass $ 1 trillion this year.

[kyzr]

At some point taxes destroy growth. It's an irrevocable fact. Having said that tax cuts are just as deadly once you apply them to an entrenched system.
The only sure fire method is a national sales tax and no payroll tax. Granted it's not perfect but 100 times better than the crap system we have now

YES!!!!!
My recommendation is to add a 4% national sales tax
Add an 0.50% financial transaction tax on stock, bond & derivative transactions
Fix SS & Medicare separately. Raise the cap and ages on SS.
Add a new Remittance Tax on all money sent out of the US. That $150b a year will pay for the wall and DHS.

I also would like to see a new Grace Commission to cut government spending.
I would also like Congress to ask Elon Musk, Warren Buffet, Jamie Dimon, and the Federal Reserve for recommendations how to fix the Budget Deficit and National Debt.

 

[kyzr]

There's too much promissory value that doesn't actually exist. You can't fix it either with higher taxes or tax cuts. Neither will work. It has to correct.... That means mass starvation and enormous poverty.

You are probably talking about the IOUs that prior admins put into SS when they stole the surplus under their "Unified Budget".
Money is money. See my post #81. We can balance the Budget and pay down the Debt over time.
The "safety net" may need to shrink with cuts to Welfare and Medicaid.

 

[CrusaderFrank]

That's right kids.

The interest alone on our $32 trillion national debt is almost $700 billion a year and spiraling up.

And do you know who most of this goes to ?

Everyone who voted for this needs to be held to account

 

[kyzr]

Everyone who voted for this needs to be held to account

Voted for what?

 

[justoffal]

You are probably talking about the IOUs that prior admins put into SS when they stole the surplus under their "Unified Budget".
Money is money. See my post #81. We can balance the Budget and pay down the Debt over time.
The "safety net" may need to shrink with cuts to Welfare and Medicaid.

We might have a chance if the real estate bubble which is now about 15 trillion in imaginary assets doesn't land like a mile wide asteroid on wall street like it did in 2008.

 

[CrusaderFrank]

Voted for what?

for this budget

 

[the other mike]

Isn't it just amazing watching the tards working so hard to excuse or ignore Republican overspending?

Fascinating.

No wonder they can be so easily conned. They do all the heavy-lifting inside their heads for the propagandists and mountebanks who lie to them.

"I want to bleev it, so it must be true!"

The entire debt nearly doubled under Obama, and in his 8 years of office he never once mentioned it.

 

[Lesh]

The entire debt nearly doubled under Obama, and in his 8 years of office he never once mentioned it.

Interest on the debt is a THIRD of what the OP claims.

This thread is yet another right wing farce

 

[the other mike]

Interest on the debt is a THIRD of what the OP claims.

This thread is yet another right wing farce

Every time the Fed raises interest rates
it goes up.

Basic math the left is methodically phasing out.

 

[leftwinger]

Republicans controlled the Congress for half of Trump’s administration, so you’re lying yet again

Butthurt spinning MOD again? Congress is mainly responsible for all Americas ills// They hold America hostage by shutdown threat to ram thru any MAX spending. Dems primarily + turncoat R.

 

[g5000]

The entire debt nearly doubled under Obama, and in his 8 years of office he never once mentioned it.

Trump managed to almost match Obama's debt in half the time!

Like I said, you tards do all kinds of mental gymnastics to avoid facing the fact the GOP is no more fiscally responsible than the Democrats.

 

[Lesh]

Every time the Fed raises interest rates
it goes up.

Basic math the left is methodically phasing out.

How much do you think that made it go up. Show us this math

 

[g5000]

Every time the Fed raises interest rates
it goes up.

Basic math the left is methodically phasing out.

That's pretty funny coming from a guy claiming we will be paying $1 trillion in interest this year.

 

[the other mike]

That's pretty funny coming from a guy claiming we will be paying $1 trillion in interest this year.

I never said that.
Can you at least say one true thing? Ever ?

 

[Lesh]

I never said that.
Can you at least say one true thing? Ever ?

Hey moron… YOUR THREAD TITLE CLAIMED A TRILLION

Your OP claimed 700 billion

It’s half that

You’re an idiot

 

[the other mike]

Hey moron… YOUR THREAD TITLE CLAIMED A TRILLION

Your OP claimed 700 billion

It’s half that

You’re an idiot

Will pass a trillion.
Not will BE a trillion.

Your confusion is your own choice.

 

[Lesh]

Will pass a trillion.
Not will BE a trillion.

Your confusion is your own choice.

What kinda drugs are you on?

 

[the other mike]

What kinda drugs are you on?

Try addressing the issues for a change instead of attempting to attack the messenger....

And I believe you'll be received as much more convincing in your stands.

 

[kyzr]

Interest on the debt is a THIRD of what the OP claims.
This thread is yet another right wing farce

Wrong....again...

Federal government current expenditures: Interest payments

Graph and download economic data for Federal government current expenditures: Interest payments (A091RC1Q027SBEA) from Q1 1947 to Q1 2023 about payments, expenditures, federal, government, interest, GDP, and USA.

fred.stlouisfed.org

 

[Red Front]

That's right kids.

The interest alone on our $32 trillion national debt is almost $700 billion a year and spiraling up.

And do you know who most of this goes to ?

The so-called "national debt" is a misnomer and no burger.

​

Where are the assets of this debt? Every debt has an asset holder. Who holds the asset of the debt? What did the US federal government borrow that it didn't have? When you and I borrow money, we're borrowing it as users of the USD, not issuers. The US government creates USD ex-nihilo. So what is this so-called "debt" you're fearmongering about?