Does Debt Really Matter

[jc456]

Or as Pogo said, "We have met the enemy and he is us!"

The reason why we have debt.

1) We want government to do a bunch of things.

only demofks

2) We don't want to pay for it.

only demofks

The first way to cut debt is to cut spending.

no demofk would ever concede this.

But the biggest ticket items really can't be cut.

like what?

We aren't going to cut the military unless we become Isolationist, we aren't going to cut social security or medicare which are the two biggest line items in our budget.

medicare is it's own tax.

We can't cut our debt interest payments without defaulting. So this is largely a non-starter.

We SHOULD raise taxes, especially on the wealthy,

why? explain what that would actually do?

 

[jc456]

Here in a nutshell

What the National Debt Means to You

The national debt level is what the United States federal government owes its creditors. The U.S. debt grows every year. How does national debt affect you?

www.investopedia.com

What Is Modern Monetary Theory?​

Modern monetary theory (MMT) states that governments don't rely on taxes or borrowing for spending because they can print as much money as they need. Some economists note that levels of U.S. government debt don't necessarily reflect the savings preferences of government bond buyers. These buyers include the central banks of countries running trade and account surpluses with the U.S. and U.S. corporations and households.

 

[kyzr]

and you are voting for someone that will reduce it?

Yes. Trump will turn Elon loose to cut spending and the size of government, calling it "efficiency".

 

[kyzr]

Are you fucking serious? The man has ruined Twitter. He thought THIS was a good idea.

It's time to get the Celebrity Twits out of the way and get the professionals running government.

1. Twitter was an FBI propaganda network, "X" is the new free speech zone. It is a very good idea.

2. Have you seen the DJT stock value lately? Just sayin'.

3. We agree that we need smarter people running the government than we have now. I like Nikki Haley, Ron Desantis, Vivek, Mike Pompeo, or Jim Jordan.

 

[Independent thinker]

For decades I have believed that our country’s debt mattered, I have had people claim it does and other claim it doesn’t. We are at $36 trillion in debt, we keep printing money, we keep spending, we cut taxes, neither is good at reducing debt.

My belief has been that debt means fewer economic opportunities for Americans, a rising debt means slower economic growth, less flexibility in dealing with disasters and crisis, higher inflation, erosion of confidence in the US dollar and many countries are looking to go off the dollar which could cripple America. This is a few of my arguments against our current debt situation.

Then I have had people tell me not to worry about debt, Debt doesn’t matter, it doesn’t hurt the country, I don’t understand how the economy works.

So does debt matter? Does it not matter? Should we be worried at the accelerated debt our country has taken on? I think we are in big trouble and it is bigger than Democrats and Republicans because neither is willing to slow debt down or be fiscally responsible, they both love to make promises and spend money.

Of course debt matters. We see it every day at the grocery store. The runaway debt has brought us inflation.

 

[Harpy Eagle]

Yes. Trump will turn Elon loose to cut spending and the size of government, calling it "efficiency".

yep, he will do just as good a job at cutting spending as he did in his first term.

But hey, I have some great ocean front property just outside of Hill City Kansas for sale, I can get it for you dirt cheap

 

[evenflow1969]

So debt doesn’t matter at all?

No it does. We need to quit racking it up. What does not matter is which political party is in control they both run up debt.

 

[BackAgain]

It takes a special kind of imbecile to believe that debt doesn’t matter.

If x > y and x is just the interest on our debt and y is the most we can possibly tax the people, then our system is doomed to collapse.

 

[Lesh]

THEORETICALLY, the Debt will matter when the DEBT SERVICE is so large that it reduces or eliminates pockets of funding for discretionary spending. Unfortunately, the Democrats in Congress simply refuse to accept that reality and have not scaled back on their initiatives to buy votes with borrowed taxpayer money.

Why is this so seldom pointed out by the Media? Are they in on it?

The other side of the same coin is tax cuts. They add to the debt just as spending does.

And what is Trump taking about? All sorts of tax cuts.

So obviously the debt doesn’t matter to HIM

 

[Robert W]

For decades I have believed that our country’s debt mattered, I have had people claim it does and other claim it doesn’t. We are at $36 trillion in debt, we keep printing money, we keep spending, we cut taxes, neither is good at reducing debt.

Debt does matter unless you are a Democrat. Then the higher they get it, the more they love debt. To Republicans it is vital to America to reduce the debt. We noted under FDR it was the highest and even after the war, the old time democrats rushed to lower debt. We the American pays heavily for debt. The fact is it gets reduced a the expense of our pockets of cash.

 

[Robert W]

Are you fucking serious? The man has ruined Twitter.

Elon Musk can't ruin Twitter. It still has Democrats paying him fees.

 

[dblack]

So debt doesn’t matter at all?

It matters a lot. And, once we've been weakened enough, we'll no longer be a good credit risk and no longer be able to borrow enough to stay afloat. At that point, the gig is up.

 

[The Sage of Main Street]

the agenda is to become so far in debt that our national parks, infrastructure,k and mineral weatlh can be sold to9 "qualified budders."

The Golden Calf

Hereditary power caused all the horrors of history. Taking away large inheritances and all trust funds would solve our fiscal problems and eliminate all other taxes.

 

[80zephyr]

If the American public actually had to pay for all these programs up front, you would see just how many Americans would suddenly become conservative.

 

[Robert W]

If the American public actually had to pay for all these programs up front, you would see just how many Americans would suddenly become conservative.

Great point. True as well.

 

[whitehall]

It only matters when a republican is in office.

 

[Papageorgio]

Sure we can go on borrowing trillions forever yeeeehahhhhh!!! I can't wait until we are $999 trillion in debt and bread cost $5,000 a loaf.

Well if debt doesn’t matter, why pay taxes! lol!

 

[Lesh]

Of course it does, run up your credit card debt and see how fast card companies reduce your limits and your credit score starts dropping

Another idiot Republican that thinks house hold finances are the same as national

It’s not and that’s stupid beyond stupid

 

[Lesh]

Well if debt doesn’t matter, why pay taxes! lol!

That was a stupid post

 

[BackAgain]

The Golden Calf

Hereditary power caused all the horrors of history. Taking away large inheritances and all trust funds would solve our fiscal problems and eliminate all other taxes.

Such silliness.