The Debt Ceiling

[NightFox]

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

Yeah I bet you do, unfortunately you don't know what the fuck you're talking about most of the time so you're not in a position to "educate" anybody.

 

[paulitician]

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.

True. And our last two Presidents have sunk many future generations. It's likely way too far gone to fix now. But that won't stop the corrupt Media from having their Jerry Springer-type Debt Ceiling 'debate.'

They'll pit one against another and sit back and enjoy their Dog & Pony Show. There's gonna be the usual shouting and chairs flying, and then nothing will be done about our massive $20 Trillion Debt. Personally, i'm gonna skip their farce. I already know the outcome. I never liked the Jerry Springer Show.

 

[Redfish]

So I guess now that a Republican is president, we're back to the Bush Era,

where the debt doesn't matter?

He's not been sworn in yet, nor has the new congress. You seem to want to forget the Obama years already.

The debt ceiling crisis was during the Obama years. I want to know if anyone still cares about the debt ceiling.

of course we care about the national debt. If you do, why didn't you scream when Obama doubled it?

Creating American jobs works in two ways, people with jobs pay taxes and don't need welfare. so new jobs increase govt revenue and reduce govt spending. Will it happen soon enough? guess we have to wait and see.

So you think Trump can pay for a trillion dollar infrastructure program, massive increase in defense spending,
AND a huge tax cut,

in a manner that will not add to the debt?

Amuse us. Let's hear how that works.

already explained it a couple of times. Create a business friendly environment, allow foreign profits to be brought back into the country at no or a low tax rate. Those actions create private sector jobs. People with jobs PAY taxes and don't need welfare or food stamps or EBT cards---sooooo govt revenue goes up and govt expenses go down.

but in reality we are going to be living with our 20 trillion debt for a long long time. Lest we forget, it was 10 trillion when you fools put Obama in charge.

 

[NYcarbineer]

So I guess now that a Republican is president, we're back to the Bush Era,

where the debt doesn't matter?

He's not been sworn in yet, nor has the new congress. You seem to want to forget the Obama years already.

The debt ceiling crisis was during the Obama years. I want to know if anyone still cares about the debt ceiling.

of course we care about the national debt. If you do, why didn't you scream when Obama doubled it?

Creating American jobs works in two ways, people with jobs pay taxes and don't need welfare. so new jobs increase govt revenue and reduce govt spending. Will it happen soon enough? guess we have to wait and see.

So you think Trump can pay for a trillion dollar infrastructure program, massive increase in defense spending,
AND a huge tax cut,

in a manner that will not add to the debt?

Amuse us. Let's hear how that works.

already explained it a couple of times. Create a business friendly environment, allow foreign profits to be brought back into the country at no or a low tax rate. Those actions create private sector jobs. People with jobs PAY taxes and don't need welfare or food stamps or EBT cards---sooooo govt revenue goes up and govt expenses go down.

but in reality we are going to be living with our 20 trillion debt for a long long time. Lest we forget, it was 10 trillion when you fools put Obama in charge.

Republicans have been trying to sell that story for decades. It didn't work with Reagan, it didn't work with either Bush.

 

[Redfish]

He's not been sworn in yet, nor has the new congress. You seem to want to forget the Obama years already.

The debt ceiling crisis was during the Obama years. I want to know if anyone still cares about the debt ceiling.

of course we care about the national debt. If you do, why didn't you scream when Obama doubled it?

Creating American jobs works in two ways, people with jobs pay taxes and don't need welfare. so new jobs increase govt revenue and reduce govt spending. Will it happen soon enough? guess we have to wait and see.

So you think Trump can pay for a trillion dollar infrastructure program, massive increase in defense spending,
AND a huge tax cut,

in a manner that will not add to the debt?

Amuse us. Let's hear how that works.

already explained it a couple of times. Create a business friendly environment, allow foreign profits to be brought back into the country at no or a low tax rate. Those actions create private sector jobs. People with jobs PAY taxes and don't need welfare or food stamps or EBT cards---sooooo govt revenue goes up and govt expenses go down.

but in reality we are going to be living with our 20 trillion debt for a long long time. Lest we forget, it was 10 trillion when you fools put Obama in charge.

Republicans have been trying to sell that story for decades. It didn't work with Reagan, it didn't work with either Bush.

actually it did work for Reagan. Bush was a fiscal liberal so it didn't work for him. and before you say it, yes the republicans in congress are also responsible for allowing our debt to double under Obama. they were sent to DC to stop him and they failed.

 

[hadit]

The debt ceiling crisis was during the Obama years. I want to know if anyone still cares about the debt ceiling.

of course we care about the national debt. If you do, why didn't you scream when Obama doubled it?

Creating American jobs works in two ways, people with jobs pay taxes and don't need welfare. so new jobs increase govt revenue and reduce govt spending. Will it happen soon enough? guess we have to wait and see.

So you think Trump can pay for a trillion dollar infrastructure program, massive increase in defense spending,
AND a huge tax cut,

in a manner that will not add to the debt?

Amuse us. Let's hear how that works.

already explained it a couple of times. Create a business friendly environment, allow foreign profits to be brought back into the country at no or a low tax rate. Those actions create private sector jobs. People with jobs PAY taxes and don't need welfare or food stamps or EBT cards---sooooo govt revenue goes up and govt expenses go down.

but in reality we are going to be living with our 20 trillion debt for a long long time. Lest we forget, it was 10 trillion when you fools put Obama in charge.

Republicans have been trying to sell that story for decades. It didn't work with Reagan, it didn't work with either Bush.

actually it did work for Reagan. Bush was a fiscal liberal so it didn't work for him. and before you say it, yes the republicans in congress are also responsible for allowing our debt to double under Obama. they were sent to DC to stop him and they failed.

Which is a big reason Trump succeeded.

 

[BuckToothMoron]

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.

True, when it was enacted under Bush 1 it worked very well, and was aided by a very robust economy which increased tax revenues thru the 90's. The economy experienced huge growth in technology (cell phones, computers, etc) which coincided with the apex spending/earning years of the baby boomers. It was similar in some ways to the Roaring 20's.

Since then of course the deficit has increased nearly exponentially under Bush and more so under BO.

 

[BuckToothMoron]

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.

You asked about the legality, Dodd/Frank addresses that.

 

[KissMy]

More & More Debt & Deficits!!!!!
Here we go again!
Deficits Rising!
Debt Rising!

SHUT IT DOWN!!!!!

 

[Harpy Eagle]

More & More Debt & Deficits!!!!!
Here we go again!
Deficits Rising!
Debt Rising!

SHUT IT DOWN!!!!!

You know, shutting down the govt does not save any money, does not cut the deficit or the debt.

 

[KissMy]

More & More Debt & Deficits!!!!!
Here we go again!
Deficits Rising!
Debt Rising!

SHUT IT DOWN!!!!!

You know, shutting down the govt does not save any money, does not cut the deficit or the debt.

We crossed that bridge in September when Trump & Republicans Refused to Pass a Budget, but instead cut taxes & increased spending. It's time to drain their swamp!

SHUT IT DOWN!!!!!

 

[Harpy Eagle]

More & More Debt & Deficits!!!!!
Here we go again!
Deficits Rising!
Debt Rising!

SHUT IT DOWN!!!!!

You know, shutting down the govt does not save any money, does not cut the deficit or the debt.

We crossed that bridge in September when Trump & Republicans Refused to Pass a Budget, but instead cut taxes & increased spending. It's time to drain their swamp!

SHUT IT DOWN!!!!!

Shutting it down is more like putting a bigger plug in the swamp as the swamp dwellers are the only ones still going to work

 

[KissMy]

More & More Debt & Deficits!!!!!
Here we go again!
Deficits Rising!
Debt Rising!

SHUT IT DOWN!!!!!

You know, shutting down the govt does not save any money, does not cut the deficit or the debt.

We crossed that bridge in September when Trump & Republicans Refused to Pass a Budget, but instead cut taxes & increased spending. It's time to drain their swamp!

SHUT IT DOWN!!!!!

Shutting it down is more like putting a bigger plug in the swamp as the swamp dwellers are the only ones still going to work

Well then Sequestration without raising the debt ceiling!

 

[hadit]

More & More Debt & Deficits!!!!!
Here we go again!
Deficits Rising!
Debt Rising!

SHUT IT DOWN!!!!!

You know, shutting down the govt does not save any money, does not cut the deficit or the debt.

That's because the "shutdowns" don't really shut anything down. The spending keeps going.

 

[KissMy]

Freeze The Debt Ceiling / Limit!!!!

Go with Sequestration & PAYGO!

Surplus & Debt Reduction is a Must in a strong economy!

 

[KissMy]

The USA has become a Weak Dollar Inflation Nation!

 

[Crixus]

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)?

The will raise it like they always do. Thought the Donald was supposed to know better?

 

[Harpy Eagle]

More & More Debt & Deficits!!!!!
Here we go again!
Deficits Rising!
Debt Rising!

SHUT IT DOWN!!!!!

You know, shutting down the govt does not save any money, does not cut the deficit or the debt.

That's because the "shutdowns" don't really shut anything down. The spending keeps going.

This is true. All that happens in a shutdown is that the people that are not the problem and actually want to go to work are not allowed to while the swamp makes sure they get paid and go to work.

 

[Harpy Eagle]

More & More Debt & Deficits!!!!!
Here we go again!
Deficits Rising!
Debt Rising!

SHUT IT DOWN!!!!!

You know, shutting down the govt does not save any money, does not cut the deficit or the debt.

We crossed that bridge in September when Trump & Republicans Refused to Pass a Budget, but instead cut taxes & increased spending. It's time to drain their swamp!

SHUT IT DOWN!!!!!

Shutting it down is more like putting a bigger plug in the swamp as the swamp dwellers are the only ones still going to work

Well then Sequestration without raising the debt ceiling!

that is a great plan, too bad we have no elected officials that agree with it

 

[KissMy]

More & More Debt & Deficits!!!!!
Here we go again!
Deficits Rising!
Debt Rising!

SHUT IT DOWN!!!!!

You know, shutting down the govt does not save any money, does not cut the deficit or the debt.

We crossed that bridge in September when Trump & Republicans Refused to Pass a Budget, but instead cut taxes & increased spending. It's time to drain their swamp!

SHUT IT DOWN!!!!!

Shutting it down is more like putting a bigger plug in the swamp as the swamp dwellers are the only ones still going to work

Well then Sequestration without raising the debt ceiling!

that is a great plan, too bad we have no elected officials that agree with it

The Tea Party Failed at their Only Stated Goal. I participated in the first Tea Party rally. Then they caved to the BIG SPENDING & Borrowing Reptards!!! We are being Inflation Taxed out the a$$!