The Debt Ceiling

[BuckToothMoron]

You're right, the deficit will go up as it always does in a slow economy when tax revenues decrease. But the spending he proposes on infrastructure is temporary and in the discretionary portion of the budget. The math problems you mentioned are not with discretionary spending which is only 40% of Federal spending, but rather non-discretionary entitlement spending which constitutes about $100 trillion of unfounded liability. Chew on that, and tell me how we pay those future bills.

There are big math problems there too, chief. As in there's nothing more permanent than "temporary" taxes or spending.

There's STILL no such thing as free lunch.

Temporary debt spending, not temporary taxes, squaw.

 

[Siete]

then you should be all for cutting Trumps massive spending proposals shouldn't you ?

I'm for cutting all frivolous spending, 7 Unbelievable Ways the Government Wasted Your Money in 2015

And this is not even the tip of the iceberg, in fact it is not even a snowflake on the tip of the iceberg…

yeah, I know all about it, we're doomed, and have been ever since Bill Clinton won his first term in office, yet here we are 25 years later.


yawnnnnnnnn

Well these are the reasons why we have a unpayable debt of 225+ trillion dollars… LOL

uh huh, and 95 million people are unemployed too ....

zzzzzzzzzzzzzzzz

Socialism makes for a lazy society… Fact

RW talking points make for a bullshit session too.

 

[AnCap'n_Murica]

You're right, the deficit will go up as it always does in a slow economy when tax revenues decrease. But the spending he proposes on infrastructure is temporary and in the discretionary portion of the budget. The math problems you mentioned are not with discretionary spending which is only 40% of Federal spending, but rather non-discretionary entitlement spending which constitutes about $100 trillion of unfounded liability. Chew on that, and tell me how we pay those future bills.

There are big math problems there too, chief. As in there's nothing more permanent than "temporary" taxes or spending.

There's STILL no such thing as free lunch.

Temporary debt spending, not temporary taxes, squaw.

Apparently, you missed the part where I accurately pointed out that there's nothing more permanent than "temporary" spending. The stupid and wasteful nature of government and bureaucracy doesn't change just because you have an (R) instead of a (D).

 

[BuckToothMoron]

I'm pretty sure we're due for another raise in the debt ceiling in March 2017. If someone knows better, please post it.

Will Trump refuse to raise it? Will Congress refuse to raise it? Will Ted Cruz take a stand, or take a knee (or two)?

Yes March 2017, the debt ceiling is suspended until then.

IMHO The most likely scenario is the re-emergence of the "Grand Bargain" on cutting spending and tax reform (or something very similar to it) that Obama wanted to cut with Boehner in 2011 but got nixed because the extremes of the Democrat and Republican bases went ballistic.

I'd imagine it'll be the first test of Trump's "negotiating skills" since he'll still have to contend with the House Freedom Caucus, we'll see if he's as good as a negotiator as he claims he is.

Trump wants a trillion dollar infrastructure program. And massive tax cuts. And massive increases in military spending.

There is no math in the universe that can make that work without ballooning the deficits.

Huckster will just print more money, and his bots will just degrade Obama because he didnt think of that

Where have you been since 2008? First, the president doesn't control the printing of money, that is the Fedral Reserve. Second, did you miss all the QE since 2008. In short, every word you wrote was wrong.

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

 

[NightFox]

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

Yes, and the amount of money banks can legally loan out is based on what ?

 

[paulitician]

Oh Gawd, the old stale Debt Ceiling debate meme. Look folks, the last two Presidents have completely sunk future generations. And not much can be done to change that. We're $20 Trillion in Debt, and rising.

So i wouldn't waste too much time stressing over another corrupt Media-hyped non-event. Nothing's gonna change with the Debt catastrophe. So, don't buy into the hype. Just accept the massive Debt, and move on with your life.

 

[Little-Acorn]

You seem to want to forget the Obama years already.

I don't blame him.

 

[Siete]

Yes March 2017, the debt ceiling is suspended until then.

IMHO The most likely scenario is the re-emergence of the "Grand Bargain" on cutting spending and tax reform (or something very similar to it) that Obama wanted to cut with Boehner in 2011 but got nixed because the extremes of the Democrat and Republican bases went ballistic.

I'd imagine it'll be the first test of Trump's "negotiating skills" since he'll still have to contend with the House Freedom Caucus, we'll see if he's as good as a negotiator as he claims he is.

Trump wants a trillion dollar infrastructure program. And massive tax cuts. And massive increases in military spending.

There is no math in the universe that can make that work without ballooning the deficits.

Huckster will just print more money, and his bots will just degrade Obama because he didnt think of that

Where have you been since 2008? First, the president doesn't control the printing of money, that is the Fedral Reserve. Second, did you miss all the QE since 2008. In short, every word you wrote was wrong.

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

and that rhetoric relates to the Treasury printing money to pay our debt exactly how?

 

[paulitician]

Trump wants a trillion dollar infrastructure program. And massive tax cuts. And massive increases in military spending.

There is no math in the universe that can make that work without ballooning the deficits.

Huckster will just print more money, and his bots will just degrade Obama because he didnt think of that

Where have you been since 2008? First, the president doesn't control the printing of money, that is the Fedral Reserve. Second, did you miss all the QE since 2008. In short, every word you wrote was wrong.

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

and that rhetoric relates to the Treasury printing money to pay our debt exactly how?

Seriously? Are you Communist/Progressive wankas really pretending to care about our massive Debt? OMG! Easy to see why y'all supported the Clinton Crime Family. You're liars & cheats too.

 

[Siete]

Huckster will just print more money, and his bots will just degrade Obama because he didnt think of that

Where have you been since 2008? First, the president doesn't control the printing of money, that is the Fedral Reserve. Second, did you miss all the QE since 2008. In short, every word you wrote was wrong.

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

and that rhetoric relates to the Treasury printing money to pay our debt exactly how?

Seriously? Are you Communist/Progressive wankas really pretending to care about our massive Debt? OMG! Easy to see why y'all supported the Clinton Crime Family. You're liars & cheats too.

as usual you spun that one completely out of context ..

 

[Indeependent]

Where have you been since 2008? First, the president doesn't control the printing of money, that is the Fedral Reserve. Second, did you miss all the QE since 2008. In short, every word you wrote was wrong.

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

and that rhetoric relates to the Treasury printing money to pay our debt exactly how?

Seriously? Are you Communist/Progressive wankas really pretending to care about our massive Debt? OMG! Easy to see why y'all supported the Clinton Crime Family. You're liars & cheats too.

as usual you spun that one out of complete context ..

No he didn't.

 

[NYcarbineer]

Huckster will just print more money, and his bots will just degrade Obama because he didnt think of that

Where have you been since 2008? First, the president doesn't control the printing of money, that is the Fedral Reserve. Second, did you miss all the QE since 2008. In short, every word you wrote was wrong.

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

and that rhetoric relates to the Treasury printing money to pay our debt exactly how?

Seriously? Are you Communist/Progressive wankas really pretending to care about our massive Debt? OMG! Easy to see why y'all supported the Clinton Crime Family. You're liars & cheats too.

You're the one pretending.

 

[paulitician]

Where have you been since 2008? First, the president doesn't control the printing of money, that is the Fedral Reserve. Second, did you miss all the QE since 2008. In short, every word you wrote was wrong.

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

and that rhetoric relates to the Treasury printing money to pay our debt exactly how?

Seriously? Are you Communist/Progressive wankas really pretending to care about our massive Debt? OMG! Easy to see why y'all supported the Clinton Crime Family. You're liars & cheats too.

as usual you spun that one completely out of context ..

Y'all are part of the problem, not the solution. This will be just another corrupt Media-hyped farce. Nothing will be done to address our massive Debt. It'll be just another Media Dog & Pony Show sham. But that's what most Americans want.

Americans are far too dumbed-down and lazy to care about things that really matter. You know, like solutions? They'll get their Jerry Springer-type debate over the Debt, and then be content with nothing being done. I won't waste a second of my time watching the Dog & Pony Show.

 

[paulitician]

Where have you been since 2008? First, the president doesn't control the printing of money, that is the Fedral Reserve. Second, did you miss all the QE since 2008. In short, every word you wrote was wrong.

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

and that rhetoric relates to the Treasury printing money to pay our debt exactly how?

Seriously? Are you Communist/Progressive wankas really pretending to care about our massive Debt? OMG! Easy to see why y'all supported the Clinton Crime Family. You're liars & cheats too.

You're the one pretending.

Y'all are part of the problem, not the solution. You completely flucked many future generations. You can't be the folks to fix the problem. It's impossible.

 

[BuckToothMoron]

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

Yes, and the amount of money banks can legally loan out is based on what ?

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

Yes, and the amount of money banks can legally loan out is based on what ?

Great question. Why don't you read Dodd/Frank and let me know. I think it's only 2300 pages.

 

[paulitician]

Trust me folks, the Debt Ceiling 'debate' will be just another Media-hyped Dog & Pony Show. It's a chance for the corrupt Media to pit one against another and have their Jerry Springer-type farce. It's good for ratings. But i assure you, nothing will be done to address our massive $20 Trillion Debt.

It's likely way too far gone to be seriously addresses. The last two Presidents really flucked many future generations. But do they care? Ha, don't count on it. They're members of the Royal Political Class Elite. They'll never know suffering.

 

[BuckToothMoron]

Trump wants a trillion dollar infrastructure program. And massive tax cuts. And massive increases in military spending.

There is no math in the universe that can make that work without ballooning the deficits.

Huckster will just print more money, and his bots will just degrade Obama because he didnt think of that

Where have you been since 2008? First, the president doesn't control the printing of money, that is the Fedral Reserve. Second, did you miss all the QE since 2008. In short, every word you wrote was wrong.

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

and that rhetoric relates to the Treasury printing money to pay our debt exactly how?

I'm done with you. You win, you are a finacial wizard, a banking genius, and your understanding of debt, deficit and money knows no bounds. So thanks for educating me, I have learned so much.

 

[NYcarbineer]

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

and that rhetoric relates to the Treasury printing money to pay our debt exactly how?

Seriously? Are you Communist/Progressive wankas really pretending to care about our massive Debt? OMG! Easy to see why y'all supported the Clinton Crime Family. You're liars & cheats too.

You're the one pretending.

Y'all are part of the problem, not the solution. You completely flucked many future generations. You can't be the folks to fix the problem. It's impossible.

We had the deficit/debt problem solved with PAYGO in the nineties. Bush and the Republicans in Congress let it expire the first chance they had.

 

[Siete]

Huckster will just print more money, and his bots will just degrade Obama because he didnt think of that

Where have you been since 2008? First, the president doesn't control the printing of money, that is the Fedral Reserve. Second, did you miss all the QE since 2008. In short, every word you wrote was wrong.

where the hell have you been ? sucking Trumps ass?

"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"

You clearly have very little knowledge of the money/banking system, and I find it amusing you use a quote from Trump, the man you despise, to support your misinformed position....brilliantly ironic.

I'll do you a huge favor. Here is a link which is pretty easy to understand. And in the future, don't rely on what a politicians says when it comes to the economy, they typically don't understand it.

How Banks Create Money - Positive Money

Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today is created by banks, whilst just 3% is created by the government. This short video explains:

and that rhetoric relates to the Treasury printing money to pay our debt exactly how?

I'm done with you. You win, you are a finacial wizard, a banking genius, and your understanding of debt, deficit and money knows no bounds. So thanks for educating me, I have learned so much.

since when? you're still yammering endlessly about banking when banking has nothing to do with the fucknig topic

I wish I could educate you, but you and intelligence take two different paths.

 

[NightFox]

Great question. Why don't you read Dodd/Frank and let me know. I think it's only 2300 pages.

I don't have to read Dodd/Frank to understand how our Fractional Reserve Banking system works; the point is when the Fed increases the currency supply much of that increase ends up in the form of bank deposits which make up the bulk of the reserves that determines the amount banks can loan into existence, it's a self-reinforcing inflationary cycle that can EASILY get out of control when massive debt monetization takes place.

Thus Trumps assertion that we can't default because we can just print our way out of was simplistic in the extreme, which probably explains why he went on to backtrack and clarify it multiple times.