We have a "tentative" 2-year Debt Limit deal!! So who won and who lost? (Poll)

[Harpy Eagle]

/---/ We were better off with the gold standard. This was just an idea I heard.

The problem with the gold standard was that gold supply continually to fall behind the growth of the global economy. There just was not enough gold to keep up with the growth in the world.

 

[Cellblock2429]

IMHO a Balanced Budget Amendment is the best solution.
My fix would be to add a 4% Federal sales tax for 10-years to see if that would get a small surplus to start paying the $32T Debt down.

/---/ And you trust those Swamp People not to slowly raise that 4% to 4.1% then 4.5% then 5% ????

 

[Harpy Eagle]

IMHO a Balanced Budget Amendment is the best solution.
My fix would be to add a 4% Federal sales tax for 10-years to see if that would get a small surplus to start paying the $32T Debt down.

Get rid of all tax expenditures and we can lower the overall tax rate and the deficit is gone and we are running a surplus.

 

[Flash]

The American people lost.

The welfare queens and big government shitheads won.

We didn't do jackshit to cut back on existing spending and we are out borrowing more money again. Just some vague promise to maybe cut back on a little spending in the future that will never materialize.

Once again the Republicans enabled the filthy Democrats to continue with a big bloated out of control debt ridden government because they didn't have the courage to just say no.

 

[initforme]

Not voting for the deal will end up being a political disaster.

 

[Cellblock2429]

The problem with the gold standard was that gold supply continually to fall behind the growth of the global economy. There just was not enough gold to keep up with the growth in the world.

/----/ Actually, we had two standards, gold and silver. Add a third or fourth.

 

[Cellblock2429]

Yeah, it is important to make sure that eight year old gets a job.

/----/ You already approve of that, with the children mining lithium for your precious EVs.
Moonglow approved

 

[initforme]

/----/ You already approve of that, with the children mining lithium for your precious EVs.
Moonglow approved

The quest for cheap labor is a hard concept to understand

 

[TroglocratsRdumb]

In the Democrat Party's Left-Wing economics, the Taxpayers are the Slaves, and the Politicians are their Slave Masters.
They believe that they can load as much debt on the backs of the Taxpayers as they want.

 

[Cellblock2429]

The quest for cheap labor is a hard concept to understand

/---/ It's how democRATs justified slavery.

 

[Cellblock2429]

Get rid of all tax expenditures and we can lower the overall tax rate and the deficit is gone and we are running a surplus.

/----/ The Swamp People will never agree to that. Too much power involved.

 

[initforme]

/---/ It's how democRATs justified slavery.

And why employees must always advocate for themselves. They must become "rabble rousers"

 

[Mac-7]

As always, fiscal conservatives will lose

And I dont have to see the final numbers to know that

 

[leftwinger]

/----/ I've heard more than one "expert" say we should tie the US dollar to a rare metal like palladium or another such rare metal. Mint four coins, put them in Fort Knox, and declare their value at 10 trillion US dollars. Use them to pay off the debt with something left over. Problem solved.
Palladium is found in similar mineral settings as other PGMs. Most palladium is used for catalytic converters, but other uses include jewelry, dentistry, and surgical instruments. Palladium is also an exchange traded metal (along with platinum, gold and silver) A palladium coin produced by the Royal Canadian Mint. Palladium is an exchange traded metal, and these coins are sought after by collectors and speculators.

cant see that working? Something is only worth what someone will pay for it. What debt holder due payment would accept a chunk of a newly declared coin as $1T payoff?

 

[leftwinger]

This is nothing new. Our two party system has become obsolete and politicians continue to line their pockets.

They made a law against insider trading, yet do it anyway penalty free. They opened a taxpayer funded fund to pay off sexual harrassment claims. On top all their regular graft. They really sucketh massive!

 

[Cellblock2429]

cant see that working? Something is only worth what someone will pay for it. What debt holder due payment accept a chunk of a newly declared coin as $1T payoff?

/---/ I get your point, but today's dollar is tied to the "full faith and credit of the US Government" and nothing more.

Since 1971, U.S. citizens have been able to utilize Federal Reserve notes as the only form of money, and for the first time had no currency with any gold or silver backing.

This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. government. In other words, Nixon implied "take our paper dollars or don’t".

The U.S. at this time was a world super power having been victorious in WWII and there really wasn’t much anyone could do about the decision by the U.S. government to abandon metal backing.

 

[Moonglow]

/----/ You already approve of that, with the children mining lithium for your precious EVs.
Moonglow approved

Just another economic opportunity

 

[iamwhatiseem]

 

[evenflow1969]

I can find the 2022 Budget numbers: Revenue $4.9T and Spending $6.3T so the Deficit was $1.4T

For reference, the 2021 Budget numbers: Revenue $3.9T and Spending $4.9T with a Deficit of $1.0T

I can't find the 2023 Budget final numbers!! The 2023 Budget are the bullshit numbers the Debt Limit raise are based on.

Looks to me that the Republicans caved. I'm betting that the votes are not there to pass the deal.

View attachment 789427

2022 United States federal budget - Wikipedia

en.wikipedia.org

No one won. The whole thing is a shit show.

 

[AmericanGirl05]

Of course the GOP won. Biden's initial position was clean ceiling. Didn't happen. The GOP got their agenda. Sure, less cuts, but that's part of a negotiation.

And my comment to the nutcases is the old Wall Street saying, "Bears win, bulls win, pigs lose."