There Is No Debt Ceiling Crisis. There Never Has Been

[skews13]

As the Fitch credit rating service puts the United States on “watch” for a possible downgrade and Democrats dither about the 14th Amendment, Republicans just declared the House of Representatives in a break because, from their point of view, there really is no crisis.

In fact, from the GOP’s perspective, it’s all going according to plan.

As Teagan Goddard’s Political Wire noted yesterday:

“RNC Chair Ronna McDaniel told Fox News that the U.S. potentially defaulting on its debt ‘bodes very well for the Republican field.’”

It’s no accident or coincidence that the threat of a failure to pay the nation’s bills never once happened during the presidencies of Reagan, Bush, Bush, or Trump. Or that it did happen every single time during the presidencies of Clinton, Obama…and, now, Biden.

You could even call it a conspiracy: there’s an amazing backstory — with a unique name — here. And it all started with a guy named Jude Wanniski, who literally transformed American politics with a plan that the American mainstream media, astonishingly, continues to ignore.

Here’s how it works, laid it out in simple summary:

To set up its foundation, Wanniski’s “Two Santas” strategy dictates, when Republicans control the White House they must spend money like a drunken Santa and cut taxes on the rich, all to intentionally run up the US debt as far and as fast as possible.

They started this during the Reagan presidency and tripled down on it during the presidencies of Bush and Trump with massive tax cuts for billionaires and increases in spending across-the-board.

Those massive tax cuts and that uncontrolled spending during Republican presidencies produced three results:

1. They stimulated the economy with a sort of sugar high, making people think that the GOP can produce a good economy;
2. They raised the national debt dramatically (it’s at $32 trillion today, almost all of which tracks back to Reagan’s, Bush Jr.’s, and Trump’s massive tax cuts and Bush’s two illegal off-the-books wars);
3. And they made people think that Republicans are the “tax-cut Santa Clauses.”

Then comes part two of the one-two punch: when a Democrat is in the White House, Republicans must scream about the national debt as loudly and frantically as possible, freaking out about how “our children will have to pay for it!” and “we have to cut spending to solve the crisis!”

The “debt crisis,” that is, that they themselves created with their massive tax cuts and wild spending.

Do whatever it takes, the strategy goes: use the 1917 Liberty Bond debt ceiling to shut down the government, crash the stock market, and damage US credibility around the world if necessary.

This will force the Democratic president in the White House to cut his own social safety net programs and even the crown jewel of the New Deal, Social Security, thus shooting their welfare-of-the-American-people Santa Claus right in the face.

And, sure enough, here we are again with a Democrat in the White House.

The Debt Ceiling is just “Two Santas” in Drag

The only thing wrong with the U.S. economy is the failure of the Republican Party to play Santa Claus. —Jude Wanniski, March 6, 1976 As the Fitch credit rating service puts the United States on “watch” for a possible downgrade and Democrats dither...

www.dailykos.com

There's only a the filthy rich, and monopoly corporations not paying even close to enough taxes problem.

 

[SassyIrishLass]

Stop raising the ceiling and start reducing spending

Start there

 

[BluesLegend]

Stop raising the ceiling and start reducing spending

Start there

Dems squeal like stuck pigs if you even ask them to cut part of the spending increase.

 

[bendog]

As the Fitch credit rating service puts the United States on “watch” for a possible downgrade and Democrats dither about the 14th Amendment, Republicans just declared the House of Representatives in a break because, from their point of view, there really is no crisis.

In fact, from the GOP’s perspective, it’s all going according to plan.

As Teagan Goddard’s Political Wire noted yesterday:


It’s no accident or coincidence that the threat of a failure to pay the nation’s bills never once happened during the presidencies of Reagan, Bush, Bush, or Trump. Or that it did happen every single time during the presidencies of Clinton, Obama…and, now, Biden.

You could even call it a conspiracy: there’s an amazing backstory — with a unique name — here. And it all started with a guy named Jude Wanniski, who literally transformed American politics with a plan that the American mainstream media, astonishingly, continues to ignore.

Here’s how it works, laid it out in simple summary:

To set up its foundation, Wanniski’s “Two Santas” strategy dictates, when Republicans control the White House they must spend money like a drunken Santa and cut taxes on the rich, all to intentionally run up the US debt as far and as fast as possible.

They started this during the Reagan presidency and tripled down on it during the presidencies of Bush and Trump with massive tax cuts for billionaires and increases in spending across-the-board.

Those massive tax cuts and that uncontrolled spending during Republican presidencies produced three results:

1. They stimulated the economy with a sort of sugar high, making people think that the GOP can produce a good economy;
2. They raised the national debt dramatically (it’s at $32 trillion today, almost all of which tracks back to Reagan’s, Bush Jr.’s, and Trump’s massive tax cuts and Bush’s two illegal off-the-books wars);
3. And they made people think that Republicans are the “tax-cut Santa Clauses.”

Then comes part two of the one-two punch: when a Democrat is in the White House, Republicans must scream about the national debt as loudly and frantically as possible, freaking out about how “our children will have to pay for it!” and “we have to cut spending to solve the crisis!”

The “debt crisis,” that is, that they themselves created with their massive tax cuts and wild spending.

Do whatever it takes, the strategy goes: use the 1917 Liberty Bond debt ceiling to shut down the government, crash the stock market, and damage US credibility around the world if necessary.

This will force the Democratic president in the White House to cut his own social safety net programs and even the crown jewel of the New Deal, Social Security, thus shooting their welfare-of-the-American-people Santa Claus right in the face.

And, sure enough, here we are again with a Democrat in the White House.

The Debt Ceiling is just “Two Santas” in Drag

The only thing wrong with the U.S. economy is the failure of the Republican Party to play Santa Claus. —Jude Wanniski, March 6, 1976 As the Fitch credit rating service puts the United States on “watch” for a possible downgrade and Democrats dither...

www.dailykos.com

There's only a the filthy rich, and monopoly corporations not paying even close to enough taxes problem.

The gop is already planning on passing a tax cut in the 2023 House.

 

[Mikeoxenormous]

As the Fitch credit rating service puts the United States on “watch” for a possible downgrade and Democrats dither about the 14th Amendment, Republicans just declared the House of Representatives in a break because, from their point of view, there really is no crisis.

In fact, from the GOP’s perspective, it’s all going according to plan.

As Teagan Goddard’s Political Wire noted yesterday:


It’s no accident or coincidence that the threat of a failure to pay the nation’s bills never once happened during the presidencies of Reagan, Bush, Bush, or Trump. Or that it did happen every single time during the presidencies of Clinton, Obama…and, now, Biden.

You could even call it a conspiracy: there’s an amazing backstory — with a unique name — here. And it all started with a guy named Jude Wanniski, who literally transformed American politics with a plan that the American mainstream media, astonishingly, continues to ignore.

Here’s how it works, laid it out in simple summary:

To set up its foundation, Wanniski’s “Two Santas” strategy dictates, when Republicans control the White House they must spend money like a drunken Santa and cut taxes on the rich, all to intentionally run up the US debt as far and as fast as possible.

They started this during the Reagan presidency and tripled down on it during the presidencies of Bush and Trump with massive tax cuts for billionaires and increases in spending across-the-board.

Those massive tax cuts and that uncontrolled spending during Republican presidencies produced three results:

1. They stimulated the economy with a sort of sugar high, making people think that the GOP can produce a good economy;
2. They raised the national debt dramatically (it’s at $32 trillion today, almost all of which tracks back to Reagan’s, Bush Jr.’s, and Trump’s massive tax cuts and Bush’s two illegal off-the-books wars);
3. And they made people think that Republicans are the “tax-cut Santa Clauses.”

Then comes part two of the one-two punch: when a Democrat is in the White House, Republicans must scream about the national debt as loudly and frantically as possible, freaking out about how “our children will have to pay for it!” and “we have to cut spending to solve the crisis!”

The “debt crisis,” that is, that they themselves created with their massive tax cuts and wild spending.

Do whatever it takes, the strategy goes: use the 1917 Liberty Bond debt ceiling to shut down the government, crash the stock market, and damage US credibility around the world if necessary.

This will force the Democratic president in the White House to cut his own social safety net programs and even the crown jewel of the New Deal, Social Security, thus shooting their welfare-of-the-American-people Santa Claus right in the face.

And, sure enough, here we are again with a Democrat in the White House.

The Debt Ceiling is just “Two Santas” in Drag

The only thing wrong with the U.S. economy is the failure of the Republican Party to play Santa Claus. —Jude Wanniski, March 6, 1976 As the Fitch credit rating service puts the United States on “watch” for a possible downgrade and Democrats dither...

www.dailykos.com

There's only a the filthy rich, and monopoly corporations not paying even close to enough taxes problem.

The daily fucking KOS, go figure.

 

[DudleySmith]

Actually the game is handing out tax cuts to hedge fund managers and giant corporations and billionaiires like Bill Gates, and use that spending as an excuse to not pay the Social Security Fund back for all the raids on it since Eisenhower used it to build the interstate highway system and it has been raided ever since, for instance. All the DNC and RNC are doing is playing a 'good cop bad cop' scam, as always. The shiils from both wings are here to snivel and spam for their respective 'Causes', neither actually cares about what is actually good for the country, so the only thing that ever changes is the names from the lists of pre-sellected' candidates' who get air and press time, and of course the usual wave of ghost written fake 'biographies' that flood the markets near election times.

 

[DudleySmith]

The gop is already planning on passing a tax cut in the 2023 House.

probably not for anybody who lives near you, uunless you live on Martha's Vinyard, in Beverly Hills, or some other enclave of wealthy gamblers. Their first act in the new Congress was an attempt to raise taxes on workers and the middle class by nearly 23%, while dropping any taxes at all on Wall street scams; they called it a 'Fair Tax' Bill, like the last 10 or so they tried to peddle. lol

 

[LordBrownTrout]

Go tell your bank that you want an unlimited line of credit and that you don't ever intend to pay it back but that you want to take as much of their money whenever you please.

 

[Harpy Eagle]

The daily fucking KOS, go figure.

Since you think they got it wrong, why did the Repubs never demand spending cuts when they raised the debit limit under Trump or Bush II or Bush I or Reagan?

 

[DudleySmith]

Go tell your bank that you want an unlimited line of credit and that you don't ever intend to pay it back but that you want to take as much of their money whenever you please.

Sounds like the Reagan Plan, and the real estate scammers and bankers did just that, in the 1980's, 1990's, and up to 2007.

 

[Harpy Eagle]

Go tell your bank that you want an unlimited line of credit and that you don't ever intend to pay it back but that you want to take as much of their money whenever you please.

Go to you bank and tell them you are not going to pay your mortgage until you and your wife can agree on a spending plan for the family and see how that works out

 

[LordBrownTrout]

Sounds like the Reagan Plan, and the real estate scammers and bankers did just that, in the 1980's, 1990's, and up to 2007.

No, its the R, D plan that has sacked the treasury and sold out to every last third world dump but yet the serfs cheer for their side and grab little crumbs.

 

[C_Clayton_Jones]

...when a Democrat is in the White House, Republicans must scream about the national debt as loudly and frantically as possible, freaking out about how “our children will have to pay for it!” and “we have to cut spending to solve the crisis!”

The “debt crisis,” that is, that they themselves created with their massive tax cuts and wild spending.

Exactly.

 

[DudleySmith]

No, its the R, D plan that has sacked the treasury and sold out to every last third world dump but yet the serfs cheer for their side and grab little crumbs.

I don't disagree; the elites among Democrats and Republican leadership became indistinguishable by the mid-1960's. The lip service they throw out is pretty much meaningless. They both see themselves as technocrats who need to rule over the uppity peasants with an iron fist.

 

[C_Clayton_Jones]

Go tell your bank that you want an unlimited line of credit and that you don't ever intend to pay it back but that you want to take as much of their money whenever you please.

This fails as a false comparison fallacy.

 

[Oddball]

Title of OP is right, for all the wrong reasons.

There's no"crisis"....The feds will take in between $4 -$5 trillion this year, while proposing to spend $7 trillion.

Cut $2 trillion (real cuts, not reductions to baseline increases), problem solved.

P.S....This would include the Pentagon getting a well needed haircut too.

 

[Oddball]

This fails as a false comparison fallacy.

lie

 

[BackAgain]

OP =

 

[percysunshine]

The crisis is rising interest rates. No more borrowing at 0% interest. The US has been rolling short term instruments, and the price of borrowing is going up.

 

[BackAgain]

Title of OP is right, for all the wrong reasons.

There's no"crisis"....The feds will take in between $4 -$5 trillion this year, while proposing to spend $7 trillion.

Cut $2 trillion (real cuts, not reductions to baseline increases), problem solved.

P.S....This would include the Pentagon getting a well needed haircut too.

Much to my surprise and to the credit of (believe it or not) CBS News, one of their recent episodes of 60 Minutes featured an exploration of how the Pentagon’s incredibly massive budget gets misspent on outrageously overpriced parts.

Shareholders of major defense contractors may be happy with some of the fat profits made off of the American taxpayers. But the taxpayers are getting fucked over.

Weapons contractors hitting Pentagon with inflated prices