Does Debt Really Matter

[ThunderKiss1965]

Debt only matters to Republicans when they aren’t in control of the levers of government.

Been that way for decades

And it only matters to Democrats when Republicans have that control. There is no deference between the parties when it comes to debt.

 

[JLW]

Debt, personal, corporate or governmental, isn’t a problem until it is.

 

[BluesLegend]

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

Yeah man, government can just print all the money they need why even borrow it.

 

[initforme]

The only people that can bring about change has money

You are just pissed that there are people with money you disagree with on some level.

The fact that only the wealthy can affect change is wrong. Both morally and intellectually.

 

[Robert W]

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

Since Debt does not matter to Democrats, fine but do not ask me for taxes.

 

[Robert W]

The fact that only the wealthy can affect change is wrong. Both morally and intellectually.

Obama is very wealthy and he could not change things.

 

[Lesh]

Since Debt does not matter to Democrats, fine but do not ask me for taxes.

So you only pay taxes to cover the debt?

Fine. Ghead and stop paying taxes.

 

[g5000]

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.

Debt is the single largest threat to the continued existence of our democracy.

Your second paragraph pretty much covers it.

The day is coming when the entities who loan us all that money are going to lose confidence in our ability to pay it back. Then they will demand higher interest on the money we borrow, and that's the end of the ballgame for America.

 

[my2¢]

As long as debt keeps mounting, a larger chunk of federal spending goes towards paying investors interest on that debt. According to the chart presented in link below our interest payments are equal to what is going into national defense and is over twice the amount the government puts towards veterans benefits and services.

Fiscal Data Explains Federal Spending

 

[evenflow1969]

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

Lol, no shit Sherlock. We have become a microwave society. The reason our elected officials rack up debt is because it gets them elected. Dumb fucks think hurricane damage gets cleaned up in a week. Dumb asses think no one should get over the border. Dumb fucks think they get free shit. No hurricane gets cleaned in a week. There has never been a fully secure border. The president does not have complete control. Murder has existed since the beginning of time. The people who elect our leaders will not vote for you if you cut what they want. We have gotten what we asked for.

 

[candycorn]

Yes it matters. Your dollar backs this debt.

Maybe that is the agenda, to short the U.S dollar so some people can make hundreds of billions.

Hundreds of billions of what exactly?

 

[shockedcanadian]

Hundreds of billions of what exactly?

Currency. What else? It can be easily converted of course.

 

[August West]

Debt happens because "we the people" keep voting in the people adding to the debt, giving them our stamp of approval to keep doing it

What would happen to a politician who suggests that we spend too much on war making? When I was young, the politician would be accused of being soft on communism and later on it became " he/she loves terrorists". We`re spending nearly the amount spent by the next 10 big spenders all of who are our allies. We start wars just to keep the money flowing to the Pentagon. Because no one wants to attack us, we attack them.
If the War Dept. is off limits, we`re wasting our time cutting nickels and dimes.
After 20+ years I`m starting to think that Iraq doesn`t have those stockpiles of WMDs.

 

[JoeB131]

Great point. True as well.

Which is why we need to make the rich pay for them.

 

[JoeB131]

Since Debt does not matter to Democrats, fine but do not ask me for taxes.

Okay, when you stop using any government services, then you can start complaining about taxes.

 

[JWBooth]

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.

Yep, me too.
Long ago I worked for GOPer candidates who talked sternly about deficits and debt then voted for more and more. I quit them in 2004 and have never looked back.
One can only hope for the day when DC looks like the Roman forum looks now.

 

[JWBooth]

 

[rampart]

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

The first way to cut debt is to cut spending. But the biggest ticket items really can't be cut. 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. 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, but this is probably also a non-starter. Trump and Harris are both falling all over each other to promise new tax breaks.

1. and 2. represent the "two santa claus theory" embraced by reagan as an economic plan.

3. government securities are a very safe place for very rich people to park tons of money at guaranteed, extremely safe, interest rates. (this was the impetus for the 2001 tax cuts.)

4. very rich people are competing to bankrupt america with a "private equity" plan regarding our assets. (the kind of economic plan that turned 8 or 10 russians into oligarchs. )

 

[kyzr]

Debt is the single largest threat to the continued existence of our democracy.
The day is coming when the entities who loan us all that money are going to lose confidence in our ability to pay it back. Then they will demand higher interest on the money we borrow, and that's the end of the ballgame for America.

1. The Joint Chiefs confirmed that the Debt is the largest threat to the US way back in 2012, now it is critical.

Adm. Mike Mullen: Debt is still biggest threat to U.S. security

After a 43-year military career, the former Joint Chiefs chairman is as outspoken as ever.

fortune.com

2. The rating agencies keep downgrading US Debt. Sooner or later it will be junk, and then the USA becomes Venezuela.

3. Elon Musk needs to cut spending and cut the Federal government back to a surplus before its too late.

 

[kyzr]

Lol, no shit Sherlock. We have become a microwave society. The reason our elected officials rack up debt is because it gets them elected. Dumb fucks think hurricane damage gets cleaned up in a week. Dumb asses think no one should get over the border. Dumb fucks think they get free shit. No hurricane gets cleaned in a week. There has never been a fully secure border. The president does not have complete control. Murder has existed since the beginning of time. The people who elect our leaders will not vote for you if you cut what they want. We have gotten what we asked for.

Can Elon Musk cut spending or will congress stop him like they always do when someone tries to cut spending?

Kamala is not running on cutting spending, she is running on raising taxes and throwing money around to get elected.