The debt limit!

[Natural Citizen]

Something tells me this is gonna turn into just another low value pecker shaking contest back and forth about Republicans and Democrats and Trump and Biden.

I've been around long enough to know.

Besdes, I'm fully confident that OP has very little to no understanding whatsoever of economics or monetary policy, has no desire to even learn the fundamentals at the very least, and seems more interested in seeding the same old low value left/right smut.

So I'm gonna check out of this one.

Have a good day, all...

 

[petro]

Tramp raised it 7 trillion bucks.

https://www.cnn.com/2021/09/24/politics/mccarthy-democrats-debt-ceiling-fact-check/index.html

Yeah
That was stupid, yet you are arguing for this irresponsible behavior that started well before Trump to continue.
This is a failure of both parties, little partisan hack.

 

[JGalt]

Why was raising the debt limit BEFORE Covid necessary?
Why was Trump running trillion dollar deficits BEFORE COVID?

Trump's 2018 and 2019 deficits were less than Obama's 2010 and 2011 deficits. If you looked at the link I posted, you would see that Trump's deficit was increased by 33.1% from FY 2017 to FY 2020.

Obama added about $8.6 trillion, about a 74% increase to the national debt. Biden is on track to even beat Obama, and in only one term.

 

[gipper]

Tramp raised it 7 trillion bucks.

https://www.cnn.com/2021/09/24/politics/mccarthy-democrats-debt-ceiling-fact-check/index.html

Do you see a pattern yet? W, O, and now dumb old Joe spend spend spend, yet little is spent to help poor Americans.

The duopoly reigns supreme, but dumb Americans still think the two parties oppose each other.

 

[rightwinger]

Trump's 2018 and 2019 deficits were less than Obama's 2010 and 2011 deficits. If you looked at the link I posted, you would see that Trump's deficit was increased by 33.1% from FY 2017 to FY 2020.

Obama added about $8.6 trillion, about a 74% increase to the national debt. Biden is on track to even beat Obama, and in only one term.

Still a trillion dollar deficit in what Trump bragged was the greatest economy ever

 

[JGalt]

Still a trillion dollar deficit in what Trump bragged was the greatest economy ever

Far greater an economy than you have right now.

 

[sparky]

https://www.usdebtclock.org/

~S~

 

[rightwinger]

Far greater an economy than you have right now.

Not really
Trump lost two million jobs, Biden has already added eight million jobs

 

[Devils_Advocate]

It's just politics of the way Republican have their way.

Hmmm, Sooner or later we as a nation will have to deal with the spending issue that out Government has.

 

[Devils_Advocate]

Not really
Trump lost two million jobs, Biden has already added eight million jobs

Covid lockdown because of China Government failure to contain the outbreak of the virus is the reason why two million jobs were lost but you already knew this.

 

[JGalt]

Not really
Trump lost two million jobs, Biden has already added eight million jobs

Biden didn't "add" shit. The jobs were already there and people came back to them after the pandemic receded.

 

[OhPleaseJustQuit]

OP's head's on fire and her ass a-catchin'.

.






And it has ever been thus.






.

 

[Nostra]

Tramp raised it 7 trillion bucks.

https://www.cnn.com/2021/09/24/politics/mccarthy-democrats-debt-ceiling-fact-check/index.html

How much of that was after Nazi Piglosy got control of the purse strings in 2018, Simp?

 

[Nostra]

Not really
Trump lost two million jobs, Biden has already added eight million jobs

Your Vegetable Messiah still hasn't got back to the employment numbers under Trump pre-Fauci flu, Troll.

 

[Nostra]

Why was raising the debt limit BEFORE Covid necessary?
Why was Trump running trillion dollar deficits BEFORE COVID?

Do you have to lie in every post, Troll?

2017	$665	$671	3.4%
2018	$779	$1,271	3.8%
2019	$984	$1,203	4.6%
2020	$3,132	$4,226	15.0%
2021	$2,772	$1,484	12.1%

U.S. Budget Deficit by Year Compared to GDP and Debt

The federal budget deficit rises when government spending is high, such as during wars or recessions. Budget deficits cause the national debt to grow.

www.thebalancemoney.com

 

[Nostra]

And they're gonna keep on kickin it, too.

There is interest due on every dollar in existence. The nature of the monetary policy itself dictates that there will always be more debt in the system than there is currency in existence ot pay the debt.

Even if the government stopped borrowing to do deficit spending, there is still pricipal plus interest due every month.

If they stop borrowing, then no new currency is created to replace the currency that they used to make those payments.

Whether you're making a payment on a loan or paying a tax to make a payment on a Treasury bond, the portion of the payment that goes to pay off the principal extinguishes that portion of the debt. But the debt also extinguishes the currency.

When currency and debt meet, they destroy each other.

If they just pay off the principal only, all of the loans and Treasury bonds that exist, the entire currency supply vanishes.

So, if they don't send the country deeper into debt every year, the whole thing goes into a deflationary collapse under the weight of those payments.

Just think how much better off we would be if Reagan was able to convince the Dimwinger Congress to pass the Balance Budget Amendment he wanted?

 

[Papageorgio]

Not really
Trump lost two million jobs, Biden has already added eight million jobs

What did Trump do to lose jobs, what did Biden do to create jobs? That is as stupid for saying Trump was responsible for low gas prices and Biden is responsible for the highest gas prices ever. P

 

[JWBooth]

Oh goody kabuki theater!

 

[Dragonlady]

The fundamental nature of the monetary policy/system requires ever-increasing levels of debt just to continue.

And that's why politicians will always kick the can down the road and raise the so-called debt ceiling over and over again until the whole system finally collapses under its own weight, while avoiding it happening on their own watches.

And it will. It's a finite system. That's the cliff notes anyway...

The whole "debt ceiling authorization" is just political theatre: Full of sound and fury and signifying nothing. It's just an excuse to make reasonable sounding speeches about the national debt and play politics but the real discussions about cutting spending never ever happen.

Budget talks come around and the Republicans ALWAYS want to increase spending, especially pork barrel for big corporatins, and for the military. Republicans never want to make any meaningful cuts, except for social spending, or ANYTHING which puts money in the pockets of low income Americans.

It's time to end pointless bullshit like the debt ceiling votes, and start looking at meaningful change to government finances, and that includes raising taxes to pay as you go instead of spending your great grandchildren's money, and giving tax cuts to billionaires.

One way to reduce the deficit is to increase revenues. Your tax codes need balancing. Reaganomics is destroying the middle class, more of whom are falling into poverty than are rising to wealth. 80% of the nation's wealth cannot continue to flow to the top, if your nation is to survive.

The USA continues to operate under the same tax, labour and social spending polices that turned all of South American into a continent of second and third world nations.

 

[BluesLegend]

There's a debt "limit"??? Whatever!