Life After Default

[Lesh]

No, they are entirely related. Here’s why

You are increasing debt to pay for prior years obligations. Think about that. This means there is literally no cap on spending. You pay for previous debt, then create new obligations that will then have to be covered by next years debt ceiling increase. To me, that’s just some funny money nonsense that only works in government.

What they need to do is pass a budget that covers. FUTURE spending. That’s what a budget is supposed to be.

Our government entirely operates on debt. That’s what the whole system is. When you are raising money to cover prior expenditures..that’s a debt economy.

Pure nonsense.

If you want to cut spending you don’t do it AFTER THE FACT.

You do it when you pass a budget.

Do you manage your household spending like that?

One day you notice that you’re spending too much so you just decide not to pay your credit card bills?

That’s NUTS

 

[westwall]

That’s a completely stupid statement

It's a FACTUAL statement.

 

[Deplorable Yankee]

Pure nonsense.

If you want to cut spending you don’t do it AFTER THE FACT.

You do it when you pass a budget.

Do you manage your household spending like that?

One day you notice that you’re spending too much so you just decide not to pay your credit card bills?

That’s NUTS

You reported me for the one comment

Could you be a bigger nazi fag ? I think not

 

[Lesh]

You reported me for the one comment

Could you be a bigger nazi fag ? I think not

You mean the comment where you threatened my life?

 

[ThisIsMe]

Pure nonsense.

If you want to cut spending you don’t do it AFTER THE FACT.

You do it when you pass a budget.

Do you manage your household spending like that?

One day you notice that you’re spending too much so you just decide not to pay your credit card bills?

That’s NUTS

No, obviously if you racked up debt you have to pay it, but you have to cut spending if you want the debt to go down.

If we are never cutting spending, then we will always be on a upward trajectory.


This is why the debt ceiling is backwards. It just gives you a license to keep being irresponsible.

The budgets they pass today are the debt ceiling they will have to raise next year.

A normal persons budget says “this is how much money we have coming in and this is how much we can afford to spend month to month”. The government budget is “we don’t have the money now, but this is how far we want to go into debt, with the idea that the money will come at a later time.”

…and those budgets increase every year.

The government needs to run their budget like everyone else. “This is how much money we have now, and this is how much we can spend. If we need more money for something, we need to cut from something else”.

Remember, the money that the government plays around with is YOUR tax dollars, which represents YOUR labor. I think since the people are funding all of this, we deserve a government that is much more frugal, and remembers where this money is coming from in the first place. I think too many in government forget that, as well as too many taxpayers.

 

[fncceo]

I have all that and more & I don't consider myself ready at all.

It all depends on your expectations ... my needs are simple ...

 

[fncceo]

I have made preparations for SHTF situations. But I'd rather not hasten the end of civilization just yet.

Don't think of it as hastening the end ... think of it as euthanasia.

 

[kyzr]

Where?

14th Amendment

 

[kyzr]

NONE of that is even close to true.
What do you call "shortly? The interest is currently less than a quarter of that

CBO's projection dumbass.

Interest is Skyrocketing, and the National Debt Will Reach an All-time High in just 5 years

The Congressional Budget Office (CBO) released updated budget and economic projections, which incorporate the effects of higher interest rates, annual appropriations, and other recent legislative and economic developments

www.pgpf.org

Interest costs would nearly triple in the next decade. The Federal Reserve has increased interest rates ten times since early 2022 to combat high inflation — which has contributed to the significant increase in the federal government’s cost of borrowing. In CBO’s projections, such costs would rise from $476 billion in 2022 to $1.4 trillion in 2033

 

[kyzr]

Yes
Yes
throw out the 14th Section 4. Default and be done
I see that rube stillborn is following me

No can do. A Constitutional Amendment isn't happening.

 

[Lesh]

CBO's projection dumbass.

Interest is Skyrocketing, and the National Debt Will Reach an All-time High in just 5 years

The Congressional Budget Office (CBO) released updated budget and economic projections, which incorporate the effects of higher interest rates, annual appropriations, and other recent legislative and economic developments

www.pgpf.org

Interest costs would nearly triple in the next decade. The Federal Reserve has increased interest rates ten times since early 2022 to combat high inflation — which has contributed to the significant increase in the federal government’s cost of borrowing. In CBO’s projections, such costs would rise from $476 billion in 2022 to $1.4 trillion in 2033

But you claimed it was 2 T now. Now it MIGHT be 1.4T in ten years

 

[sparky]

CBO's projection dumbass.

Interest is Skyrocketing, and the National Debt Will Reach an All-time High in just 5 years

The Congressional Budget Office (CBO) released updated budget and economic projections, which incorporate the effects of higher interest rates, annual appropriations, and other recent legislative and economic developments

www.pgpf.org

Interest costs would nearly triple in the next decade. The Federal Reserve has increased interest rates ten times since early 2022 to combat high inflation — which has contributed to the significant increase in the federal government’s cost of borrowing. In CBO’s projections, such costs would rise from $476 billion in 2022 to $1.4 trillion in 2033

CBO’s report once again shows that the nation’s fiscal trajectory is on an unsustainable path. The structural mismatch between federal spending and revenues, along with the recent rise in interest rates and therefore federal borrowing costs, will pose challenges for the federal budget, our economy and our future if left unaddressed.

one can't spend more than one makes forever.....~S~

 

[kyzr]

But you claimed it was 2 T now. Now it MIGHT be 1.4T in ten years

Based on interest rate assumptions by CBO.
If rates stay high the 10 years gets shorter.
Its still a financial disaster unless we spend less and tax more.

 

[Lesh]

No, obviously if you racked up debt you have to pay it, but you have to cut spending if you want the debt to go down.

If we are never cutting spending, then we will always be on a upward trajectory.


This is why the debt ceiling is backwards. It just gives you a license to keep being irresponsible.

The budgets they pass today are the debt ceiling they will have to raise next year.

A normal persons budget says “this is how much money we have coming in and this is how much we can afford to spend month to month”. The government budget is “we don’t have the money now, but this is how far we want to go into debt, with the idea that the money will come at a later time.”

…and those budgets increase every year.

The government needs to run their budget like everyone else. “This is how much money we have now, and this is how much we can spend. If we need more money for something, we need to cut from something else”.

Remember, the money that the government plays around with is YOUR tax dollars, which represents YOUR labor. I think since the people are funding all of this, we deserve a government that is much more frugal, and remembers where this money is coming from in the first place. I think too many in government forget that, as well as too many taxpayers.

The debt. Wiling does ONE thing

It allows us to cut the check to pay the bills

Stop being stupid.

You want to cut spending do it… during the budget negotiation

 

[Lesh]

Based on interest rate assumptions by CBO.
If rates stay high the 10 years gets shorter.
Its still a financial disaster unless we spend less and tax more.

Spending less and taxing more is an admirable goal.

Not paying our existing bills is irresponsible

 

[Flash]

That would require draconian spending cuts and massive recession.

You down with that?

LOL!

The government spending less money is always good for the economy.

The government doesn't produce jackshit, just takes money from the productive economy.

In the case of deficits it is stealing money from our children to satisfy greed now and that is despicable.

 

[Lesh]

LOL!

The government spending less money is always good for the economy.

The government doesn't produce jackshit, just takes money from the productive economy.

In the case of deficits it is stealing money from our children to satisfy greed now and that is despicable.

That is an incorrect and childish “understanding “ of US economics

 

[ThisIsMe]

The debt. Wiling does ONE thing

It allows us to cut the check to pay the bills

Stop being stupid.

You want to cut spending do it… during the budget negotiation

I literally just explained all that, in the post you quoted.

“Budget” doesn’t mean the same thing for government as it does for everyone else.

Yes, you need to cut spending in the budgets, but they never do that. See, nobody ever really worried about the money until it comes time to raise the debt ceiling. Once that’s done, it’s like a blank check to continue the same ole same ole.

It’s literally called a “DEBT ceiling”, which means we are increasing the amount of DEBT we can have. A budget is comparing how much money you HAVE compared to how much money you can spend. A government budget is, we’ll just borrow as much as we want and worry about raising the money for it later.

 

[Lesh]

I literally just explained all that, in the post you quoted.

“Budget” doesn’t mean the same thing for government as it does for everyone else.

Yes, you need to cut spending in the budgets, but they never do that. See, nobody ever really worried about the money until it comes time to raise the debt ceiling. Once that’s done, it’s like a blank check to continue the same ole same ole.

It’s literally called a “DEBT ceiling”, which means we are increasing the amount of DEBT we can have. A budget is comparing how much money you HAVE compared to how much money you can spend. A government budget is, we’ll just borrow as much as we want and worry about raising the money for it later.

So the gist of your argument for default is that no one will cut spending unless we cause a completely manufactured crisis that will lower GDP , cost hundreds of thousands of jobs, and possibly cause a Recession…

Horse shit

 

[Flash]

I oppose Trump's view and instead agree that a default would have major negative economic consequences and should be avoided. What I don't agree with is the dismissive liberal view that disciplined economic spending limits are simply an act of conservatives playing political football.

Why do we need to borrow money for our massive bloated Federal government when we are already $33 trillion in debt?

Isn't that stupid as shit?

We take in over $5 trillion in revenue so why not spend that and be happy? Why do we have go out and borrow another trillion and half? $5 trillion is a tremendous amount and more than the GDP of all but three or four countries on earth.

Here is just a small list of things the Democrats want to go in debt to fund.

Sen. Rand Paul’s Annual ‘Festivus’ Report: $482,276,543,907 of Government Waste – California Globe

californiaglobe.com

• Giving ineligible citizens COVID Economic Injury Disaster Grants (SBA)…..$4,500,000,000
• Using COVID relief funds to construct an 11,000 square foot spa…………….. $140,000,000
• Using COVID relief funds to purchase luxury cars ……………………………..$31,500,000
• Wisconsin school using COVID relief funds to upgrade turf fields………………..$1,600,000
• Camouflage uniforms that do not fit the Afghanistan environment (DOD)……..$28,000,000
• Funding a 1.5-mile park in Austin, Texas, used for yoga and concerts (DOD)…….$9,000,000
• Starbucks espresso machines (DOD)………………………………………………$192,592
• Interest Payments on the Debt (Treasury)……………………………………$475,000,000,000
• Maintaining 77,000 empty Federal buildings (GSA)……………………………$1,700,000,000
• “Basic education” projects in Jordan (USAID)………………………………….$210,069,000
• Expanding the Washington, D.C. Streetcar that’s rarely used and unreliable…….$175,000,000
• Helping illegal immigrants avoid deportation (DHS)………………………….. $168,000,000
• Mismanaged and un-tracked fuel purchases (State)……………………………… $77,000,000
• Subsidizing the free New York Staten Island Ferry (DOT)………………………..$70,000,000
• Overpaying government contractors for a terminated contract (GSA)…………..$69,000,000
• East Baton Rouge unused federal housing grants (HUD)…………………………$13,400,000
• Boosting the Tunisia travel sector during COVID-19 (USAID)………………….$50,000,000
• Unused hotel rooms for illegal immigrants (DHS)……………………………….$17,000,000
• Constructing a Gandhi museum…………………………. ………………………..$3,000,000
• Watching hamsters fight on steroids (NIH)………………………………………..$3,000,000
• Super Bowl commercials telling you to fill out the Census (Commerce)…………$2,500,000
• Injecting 6-month-old beagle puppies with cocaine (NIH)…………………………$2,300,000
• Encouraging Ethiopians to wear shoes (NIH)………………………………………………$2,100,000
• Training mice to binge drink alcohol (NIH)……………………………………….$1,100,000
• Studying the romance between parrots (NSF)……………………………………………$689,222
• Studying the social life and collective intelligence of ants (NSF)……………………..$675,000
• Using mice to study racial aggression (NIH)…………………………………………$519,828
• Redeveloping the United States hard cider market (USDA)……………………….. $491,794
• A radio campaign telling drivers to stop at railroad crossings (DOT)………………..$200,000
• Verifying that kids love their pets (NIH)……………………………………………$187,500
• Researching if Thanos could snap his fingers wearing the infinity gauntlet (NSF)..$118,971