Our National Debt, spending addiction and deficit spending is problem 1

[otto105]

“We?”

Our government is not we?

 

[FA_Q2]

I don't think you know how debt works. If the government sells a 30 year bond the interest rate on that bond is the same throughout the entire thirty years. If interest rates go up, then the bond prices go down. But that doesn't hurt the government, nor does it increase their cost of servicing their debt. Matter of fact, if bond prices fall significantly the government can buy back those bonds, retire that debt, like Bill Clinton did with will all the 30 year treasuries that were outstanding at the time. Today, right now, the Treasury is paying 1.83% for 30 year notes. Sorry, but AOC, the ex-bartender has it right. At rates like that you borrow all the hell you can get and you invest in things like infrastructure and education spending. Areas where the multiplier is greater than one and you expand the frontier curve. If interest rates climb into the stratosphere, you retire that debt at pennies on the dollar. I mean this is really basic Finance, sad to say that an ex-bartender understands it more than any Republican. Although I strongly suspect most Republicans understand it just as well as AOC and me and are simply playing politics instead of worrying about what is best for the country.

That might make sense IF, and only if, the government acted as a rational body and did such things. They don't.

We do not borrow and spend more when debt is cheap for future investments, and then pay said debt off when the situation flips and makes it more viable to do so. If this were the fiscal policy of the government I would openly applaud their prudence. Instead, we borrow in lean years, in hard years, in good years and in years of plenty. We outstrip our intake in any and all conditions at all times and at an ever increasing rate. The specific details seem unimportant as in all cases the current fiscal year will, almost undoubtedly, have a deeper deficit than the last one. The rare occasions where that is not true it is only so for a very short time.

You have to stop at some time and I really could care less at this point if it is an ideal or not an ideal time to do so as the proper time passed a LONG time ago.

 

[BackAgain]

Our government is not we?

Certainly not you.

 

[otto105]

Certainly not you.

try again.

 

[the other mike]

 

[BackAgain]

try again.

What? To communicate with a dildo? No point. You are totally pointless little oblio.

 

[otto105]

What? To communicate with a dildo? No point. You are totally pointless little oblio.

Sure Bluto

 

[francoHFW]

There is a current claim, repeated by the media, that our national debt is $28.08 TRILLION.
View attachment 569687
At this point and noting the accelerating rate of deficit spending, the proportion of payment of just interest on the debt to “revenues” is unquestionably going to become much much larger. Like a person who can’t handle their own household budget, the government will “borrow” ever more just to pay interest. Of course, the government will probably in just “print” money but this makes each dollar increasingly less valuable. (And some will tell us that inflation isn’t a big deal.

Now consider, the $28 TRILLION DEBT figure is phony. It doesn’t include unfunded mandates like pensions. Anyone care to take a stab at THAT one?

You Think The Deficit Is Bad? Federal Unfunded Liabilities Exceed $127 Trillion

The federal unfunded liabilities are catastrophic for future taxpayers and economic growth.

www.forbes.com

I know that most liberals and progressives and economic authorities like AOC will dismiss this as pure right wing hysteria, but for reasonable people, I suggest that our addiction to spending and debt and deficit spending is the most urgent problem we face as a nation.

Actually our problem is not taxing the rich and the worst propaganda machine in the history of the modern world. And of course denying vaccines masks and global warming, as only the stupid big oil big money GOP does....

 

[francoHFW]

An updated maxim:

“A trillion here. A trillion there. Pretty soon we’re talking ‘real money.’ “

I believe it was Senator Proxmire who first said something along those lines — albeit in those days he was talking about Billions.

The GOP should think about that when they have flooded the country with missinformation about vaccines mask s to keep this pandemic going all this time, p elections global warming you name it and the living wage health care daycare paid parental leave ID card to end illegal immigration and all the other things they have obstructed for years. Change the channel super dupers.Thank you for the bubbles and busts every time you get eight years and the stupidest wars ever.

 

[citygator]

citygator and EyeBRollin believe we can just print as much money as needed

You want money printed for bombs and drones instead of insulin. That’s the retarded right wing for you. Your Orange God ran up record deficits in a good economy and you don’t squawk… get a Democrat in the White House and suddenly deficits matter. You are a fraud. Just like the telemarketing gig you peddle.

 

[AzogtheDefiler]

You want money printed for bombs and drones instead of insulin. That’s the retarded right wing for you. Your Orange God ran up record deficits in a good economy and you don’t squawk… get a Democrat in the White House and suddenly deficits matter. You are a fraud. Just like the telemarketing gig you peddle.

I stated that Trump was wrong for doing so. It was stupid. Bush was the first idiot and subsequently our presidents followed that idiotic model. There goes that telemarketing bullshit. We have compared resumes. You’re an idiot. You literally sit there and run a customer service center and believe you’re a big shot, while I operate my own business.

 

[BackAgain]

Sure Bluto

Buzz off.

 

[BackAgain]

Actually our problem is not taxing the rich and the worst propaganda machine in the history of the modern world. And of course denying vaccines masks and global warming, as only the stupid big oil big money GOP does....

Actually, we tax way too much. And we do that because we spend way too much. Irresponsible government is the major problem.

 

[BackAgain]

The GOP should think about that when they have flooded the country with missinformation about vaccines mask s to keep this pandemic going all this time, p elections global warming you name it and the living wage health care daycare paid parental leave ID card to end illegal immigration and all the other things they have obstructed for years. Change the channel super dupers.Thank you for the bubbles and busts every time you get eight years and the stupidest wars ever.

You should be ashamed of your own dishonesty. But you’re not.

 

[bendog]

There is a current claim, repeated by the media, that our national debt is $28.08 TRILLION.
View attachment 569687
At this point and noting the accelerating rate of deficit spending, the proportion of payment of just interest on the debt to “revenues” is unquestionably going to become much much larger. Like a person who can’t handle their own household budget, the government will “borrow” ever more just to pay interest. Of course, the government will probably in just “print” money but this makes each dollar increasingly less valuable. (And some will tell us that inflation isn’t a big deal.

Now consider, the $28 TRILLION DEBT figure is phony. It doesn’t include unfunded mandates like pensions. Anyone care to take a stab at THAT one?

You Think The Deficit Is Bad? Federal Unfunded Liabilities Exceed $127 Trillion

The federal unfunded liabilities are catastrophic for future taxpayers and economic growth.

www.forbes.com

I know that most liberals and progressives and economic authorities like AOC will dismiss this as pure right wing hysteria, but for reasonable people, I suggest that our addiction to spending and debt and deficit spending is the most urgent problem we face as a nation.

Deficits don't matter. Reagan taught us that - Dick Cheney

 

[bendog]

What? To communicate with a dildo? No point. You are totally pointless little oblio.

u accuse one party of deficits and absolve the other, and call someone else a dildo .... u diseased pussy.

 

[BackAgain]

Deficits don't matter. Reagan taught us that - Dick Cheney

Deficits alone aren’t the problem. The massive size of the deficits do matter. The complete lack of attention to the consequences of such massive deficits matter. The utter irresponsibility of governance by even imagining that such massive deficits also “don’t matter” very much matters. The failure of a government of limited authority and enumerated powers to abide by those constraints may matter even more.

 

[BackAgain]

u accuse one party of deficits and absolve the other, and call someone else a dildo .... u diseased pussy.

As usual, you “speak” without concern for the honesty of what you post. I have never accused just the one party.

I have often noted that the GOP is almost as worthless precisely because they have abandoned any semblance of being the responsible party. It is a feckless party in terms of most of its elected reps and officials.

So, fuck off bentbitch. You’re just a lying sack of stupid.

 

[Concerned American]

America's income inequality.

No income inequality in Canada, eh duck? I am sure you are not living the same life as Justin Trudeau. Keep your nose on your own side of 49N.

 

[Concerned American]

Deficits alone aren’t the problem. The massive size of the deficits do matter. The complete lack of attention to the consequences of such massive deficits matter. The utter irresponsibility of governance by even imagining that such massive deficits also “don’t matter” very much matters. The failure of a government of limited authority and enumerated powers to abide by those constraints may matter even more.

As long as we deficit spend, the problem will only get worse. The only answer is gov't austerity programs and PAYING DOWN THE DEBT. Without those measures, we will just get poorer and poorer. Like Will Rogers said, "If you find yourself in a hole, QUIT DIGGING."