White House warns debt default could wipe out 8 million jobs, plunge stock market

[expat_panama]

Then pass that bill on its own merits.
Not under threat of default

This "default" song'n'dance comes up, tho Senator Obama never mentioned it when he argued and voted against raising the limit for GW Bush. Let's face it, "default" is a fantasy. Real life would mean cutting spending while paying bills.

That's "would mean". What real life is will be is raising the limit + more tax'n'spending + whether bills-get-paid/default being irrelavant.

 

[rightwinger]

This "default" song'n'dance comes up, tho Senator Obama never mentioned it when he argued and voted against raising the limit for GW Bush. Let's face it, "default" is a fantasy. Real life would mean cutting spending while paying bills.

That's "would mean". What real life is will be is raising the limit + more tax'n'spending + whether bills-get-paid/default being irrelavant.

Did Democrats raise the Debt Limit under Bush? yes
Did Democrats raise the Debt Limit under Trump? Yes

Why Don’t Republicans play these games under Republican Presidents?

I thought they cared about spending ?

 

[expat_panama]

Did Democrats raise the Debt Limit under Bush? yes
Did Democrats raise the Debt Limit under Trump? Yes

Why Don’t Republicans play these games under Republican Presidents?

lol!!! How about: for the same reason Democrats don't play games w/ Democrat presidents

I thought they cared about spending ?

This is a bit hard for me to follow so please help me a bit. You're asking whether Republicans care about spending? If that's the case I can tell u what u already know about the stereotype but all that stuff doesn't matter to me. What matters to me a lot more is-- wait a sec., I'm doubting u care about what I care about.

 

[rightwinger]

lol!!! How about: for the same reason Democrats don't play games w/ Democrat presidents

This is a bit hard for me to follow so please help me a bit. You're asking whether Republicans care about spending? If that's the case I can tell u what u already know about the stereotype but all that stuff doesn't matter to me. What matters to me a lot more is-- wait a sec., I'm doubting u care about what I care about.

Republicans care about blocking spending while Democrats are in power. They give their own party a free pass.

That is why they are willing to terrorize the country to get their way

 

[CrusaderFrank]

We should zero out the Intel Agencies and cut the Defense budget 25%

 

[expat_panama]

Republicans care about blocking spending while Democrats are in power. They give their own party a free pass.

That is why they are willing to terrorize the country to get their way

Please clarify what you're saying just a small bit more. Are u saying that Republican congresses have historically spent more than Democrat congresses? There are hard numbers on this that we can dig out if ur interested.

 

[rightwinger]

Please clarify what you're saying just a small bit more. Are u saying that Republican congresses have historically spent more than Democrat congresses? There are hard numbers on this that we can dig out if ur interested.

Pay attention….

I am saying Republican Congresses do not give a damn about debt or curtailing spending when a Republican is President

Once a Democrat is President, they harp about debt and threaten default if Dems don’t cut spending.

 

[expat_panama]

Pay attention….

I am saying Republican Congresses do not give a damn about debt or curtailing spending when a Republican is President...

--and you know this because you've taking polls and made interviews plus monitored subsequent voting records. I feel honored that I'm the first person you've ever told about this exhausting research.

cheers

 

[Hector12]

https://edition.cnn.com/2023/05/03/economy/white-house-debt-default/index.html

White House economists warned on Wednesday that a protracted debt default would cause the loss of more than 8 million jobs and cut the stock market in half.

The new projections, published in a blog post by the White House Council of Economic Advisers, make clear the enormous stakes behind a potential breach of the debt ceiling.

“A protracted default would likely lead to severe damage to the economy, with job growth swinging from its current pace of robust gains to losses numbering in the millions,” the White House economists said.

Treasury Secretary Janet Yellen said the US could default on its debt as soon as June 1 if Congress doesn’t act.

The Republican plan to cut domestic spending will cause pain, but not as much as a default on the debt.

Because President Biden and the Democrat Party are not operating from a position of strength, I think the least bad option for Biden is to accept the Republican plan, while going on national television to warn what the results will be.

Domestic programs that are cut can always be restored later, once it becomes obvious to lower middle class and working class white Republicans that they really do benefit from domestic spending programs after all.

Maybe then it will become politically possible to restore taxes on the rich and corporations to the levels they were before the Reagan administration. America's forty-two year experiment with trickle down economics is coming to an end. The experiment has failed.

 

[Mac-7]

The white house is lying

Next they’ll be telling old people that the SS checks will stop

 

[1srelluc]

The white house is lying

Next they’ll be telling old people that the SS checks will stop

LOL.....They did that this morning with a anti-Trump spot.