Why is the national debt only important to Republicans when Democrats are in office?

Monk-Eye

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" Expedience Of Election Promises And Fiscal Negligence "

* Bureaucracy Helping Themselves To Government Services *

That's all I'm saying. Democrats don't obsess over the debt. Republicans don't obsess over people dying from no healthcare. Viva le difference.
The autocrats will not worry when the government starts to go into default and then you can have all the vain pride for the beloved populist , proletariat , socialist , state of pervasive public deprivation .

CBO risk factors
The CBO, Congressional Budget Office, reported several types of risk factors related to rising debt levels in a July 2010 publication:

  • A growing portion of savings would go towards purchases of government debt, rather than investments in productive capital goods such as factories and computers, leading to lower output and incomes than would otherwise occur;
  • If higher marginal tax rates were used to pay rising interest costs, savings would be reduced and work would be discouraged;
  • Rising interest costs would force reductions in government programs;
  • Restrictions to the ability of policymakers to use fiscal policy to respond to economic challenges; and
  • An increased risk of a sudden fiscal crisis, in which investors demand higher interest rates.[60]
According to the Government Accountability Office (GAO), the United States is on a "fiscally unsustainable" path because of projected future increases in Medicare and Social Security spending.[29]


* Tax Cuts And Tax Increases Without Spending Reductions Acceleration *

"Starving the beast" is a political strategy employed by American conservatives to limit government spending[1][2][3] by cutting taxes, in order to deprive the federal government of revenue in a deliberate effort to force it to reduce spending.

The term "the beast", in this context, refers to the United States Federal Government and the programs it funds, using mainly American taxpayer dollars, particularly social programs[4] such as education, welfare, Social Security, Medicare, and Medicaid.[3]

A related idea known as "Feed the beast", refers to increasing taxes for the purported purpose of balancing the budget only to make the government spend those inflows. Writer Stephen Moore and economist Richard Vedder have written in the Wall Street Journal that every new dollar of new taxes leads to more than one dollar of new spending according to their research. In an op-ed, they both stated that "[t]he grand bargain so many in Washington yearn for—tax increases coupled with spending cuts—is a fool's errand" since "higher tax collections never resulted in less spending."
 
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OldLady

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Clearly, the two party system has failed America.


U.S. Senator Ted Cruz addresses the Republican Party’s position on the national debt and deficits.

''During his 2016 presidential campaign, Donald Trump — even though he had dubbed himself “the king of debt” — promised to slash the mounting national debt until it was completely eliminated within eight years. Four years on, how’s that going? Not well.

Turns out the U.S. government, due in part to the coronavirus pandemic, ran a record budget deficit of $3.1 trillion in the fiscal year that ended in September. The deficit, which is the gap between what the U.S. spends and what it earns through tax receipts and other revenue, came to $2 trillion more than what the White House had forecast earlier in the year.
By comparison, the deficit in 2019 totaled $984 billion.

The cumulative effect of running up the deficit year after year, including 2020’s spike, has resulted in a national debt of more than $27 trillion, up from less than $20 trillion when Trump took office.''




Continued...
What was the government suppposed to do when businesses got shut down and millions of people no longer had a paycheck? Just let millions starve? To cut spending then would just have put another bunch of people--government employees--out of work, too. What would have resulted would make Philly a few nights ago look like a girl scout troop fest.

There was no good answer, that I can think of. What do you think they should have done? Not arguing, just curious. Please don't make me listen to Cruz tho. For some reason, I think he's a total rattlesnake and I can't stand even listening to him. Just summarize, if that's your answer, please.
 
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What was the government suppposed to do when businesses got shut down and millions of people no longer had a paycheck? Just let millions starve? To cut spending then would just have put another bunch of people--government employees--out of work, too. What would have resulted would make Philly a few nights ago look like a girl scout troop fest.

There was no good answer, that I can think of. What do you think they should have done? Not arguing, just curious. Please don't make me listen to Cruz tho. For some reason, I think he's a total rattlesnake and I can't stand even listening to him. Just summarize, if that's your answer, please.

Oh, I agree with you about Cruz completely. Or any of them, to be perfectly honest. I think there's only a small handful of non-Keynesians in Congress, and they're our people. We had to run em as red helmets in order to have any semblance of an opposing vote on all of the printing, but they still aren't enough to stop it.

All they could do was print more currency. The monetary policy demands it. And they did. At a record-breaking pace.

Do you remember how it was every single day around here for the last couple of years? Every day we saw the same, tired, incorrect babble being spread all over the place about how great the economy was. How much extra money everyone had in their pockets.

Well, that wasn't true. Which everyone learned. People are still complaining for another $1200 piece of cheese.

That was gonna happen regardless. And it was going to effect the entire globe. I found the virus to be convenient timing, but I'll not even go there.

Today you're going to read all over the board, from the same people, about how the GDP is exploding. Heh heh. It'll be the same old tired spew about blue versus red. Nobody's going to ask where the money came from. Not once. Watch. It'll be a repeat of the same intellectual dishonesty (though, more clearly a lack of understanding) that we saw about all of the extra money in everyone's pockets. Well, let's call it currency, because it isnlt money. Money has to have a store of value. What they're printing doesn't have a store of value. Therein lies the fundamental problem.

To answer your question, though, it's all they could do. The problem is a product of their own doing. And it was predicatable. What we just saw over the last several months was a Fed bailout and an investor bailout. Again, the monetary policy demands it.

We have to get back to free markets. The current monetary policy is nothing of the sort. And until we do...and we will have to do something because the market will always decide in the end...not the government and not the Fed...they'll keep running the same failed monetary policy.

The only people who are truly going to escape it will be those who saw it coming thirty years ago and prepared.
 
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OldLady

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I know nothing about economics, don't try to have an opinion, but I do know when this country was truly free market, there were regular, cyclical depressions with banks folding and people's cash money being worthless overnight. It sounds to me like the government's huge interventions to avoid the apparently inevitable downturns in a free market, starting with the recession in '07, are making us broke anyway. Just a matter of now or later, and to keep the voters happy, they're kicking the can down the road 'til the next time.

I think most, if not all, states have balanced budget legislation. At this point, it would be hard to do, but I guess I don't understand why the federal government hasn't always had one.

That's how much I don't know.
 
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I know nothing about economics, don't try to have an opinion, but I do know when this country was truly free market, there were regular, cyclical depressions with banks folding and people's cash money being worthless overnight. It sounds to me like the government's huge interventions to avoid the apparently inevitable downturns in a free market, starting with the recession in '07, are making us broke anyway. Just a matter of now or later, and to keep the voters happy, they're kicking the can down the road 'til the next time.

I think most, if not all, states have balanced budget legislation. At this point, it would be hard to do, but I guess I don't understand why the federal government hasn't always had one.

That's how much I don't know.
Actually, you have to go back to 1971. Before 1971, the working class was doing great and the 1% was doing awful. Then what they did was they said, okay, no longer will the dollar be backed by something of value, from now on we're going to back it by an IOU. So, they stopped backing the dollar with gold, started backing it with IOUs and then the 1% started doing great and the working class started doing horrible.

Hold on, I'll tell you how it works. I typed it up a long time ago and paste in once in a while. Probably still a lot of typos, excuse them please. You'll be ahead of the pack, gare awn teed. Gotta look through my stored files.
 

G.T.

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I know nothing about economics, don't try to have an opinion, but I do know when this country was truly free market, there were regular, cyclical depressions with banks folding and people's cash money being worthless overnight. It sounds to me like the government's huge interventions to avoid the apparently inevitable downturns in a free market, starting with the recession in '07, are making us broke anyway. Just a matter of now or later, and to keep the voters happy, they're kicking the can down the road 'til the next time.

I think most, if not all, states have balanced budget legislation. At this point, it would be hard to do, but I guess I don't understand why the federal government hasn't always had one.

That's how much I don't know.
Because they're effectively running the Government like a business to, in theory, make life better within the Country as we have a means to do so.

Most of the debt is US Citizens' buying it, for a return. It's basically loans, and loans to ourselves.

Not only can we make the monthly payment - but we have the assets to back up the debt to the tune of about $270Trillion* dollars. That's over one thousand percent of the GDP.

If the US were a business, our debt to asset ratio is healthy. That's why the Fed keeps saying, in re: to another stimulus, "we have a means to do so." Also, much of the debt is investment which gives us future returns, by design. The debt rahrah is over-hyped...but I suppose it's never a good thing to continuously exacerbate the debt.
 

G.T.

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I know nothing about economics, don't try to have an opinion, but I do know when this country was truly free market, there were regular, cyclical depressions with banks folding and people's cash money being worthless overnight. It sounds to me like the government's huge interventions to avoid the apparently inevitable downturns in a free market, starting with the recession in '07, are making us broke anyway. Just a matter of now or later, and to keep the voters happy, they're kicking the can down the road 'til the next time.

I think most, if not all, states have balanced budget legislation. At this point, it would be hard to do, but I guess I don't understand why the federal government hasn't always had one.

That's how much I don't know.
Actually, you have to go back to 1971. Before 1971, the working class was doing great and the 1% was doing awful. Then what they did was they said, okay, no longer will the dollar be backed by something of value, from now on we're going to back it by an IOU. So, they stopped backing the dollar with gold, started backing it with IOUs and then the 1% started doing great and the working class started doing horrible.

Hold on, I'll tell you how it works. I typed it up a long time ago and paste in once in a while. Probably still a lot of typos, excuse them please. You'll be ahead of the pack, gare awn teed. Gotta look through my stored files.
The 1% are, by definition at any point in time or history, not doing awful. They're doing better than 99% of others. That's what the % means, it means in relation to the Wealth of all others.
 

Blues Man

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Clearly, the two party system has failed America.


U.S. Senator Ted Cruz addresses the Republican Party’s position on the national debt and deficits.

''During his 2016 presidential campaign, Donald Trump — even though he had dubbed himself “the king of debt” — promised to slash the mounting national debt until it was completely eliminated within eight years. Four years on, how’s that going? Not well.

Turns out the U.S. government, due in part to the coronavirus pandemic, ran a record budget deficit of $3.1 trillion in the fiscal year that ended in September. The deficit, which is the gap between what the U.S. spends and what it earns through tax receipts and other revenue, came to $2 trillion more than what the White House had forecast earlier in the year.
By comparison, the deficit in 2019 totaled $984 billion.

The cumulative effect of running up the deficit year after year, including 2020’s spike, has resulted in a national debt of more than $27 trillion, up from less than $20 trillion when Trump took office.''




Continued...
The same reason it's only important to the democrats when a republican is in office
 
OP
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Some other relevant reading...

Announcement on Reserves

''As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions.''

Effectively an official admission that reserves are a fiction. But we already knew that. Heh heh.

Anyway, banks will be unloading their questionable junk as fast as they can now, and the Fed will be buying it. Pretty clever swap to get the assets off the bank balance sheet while hiding them on the fed's balance sheet.


Additionally, the Bank of International Settlements has openly stated that they'll be moving toward digitizing of liquid assets and cash, freeing them from any semblance of a connection to tangible, real assets. Think I poste that arod here some place. I forget where, though. Basically, they'll be modifying the value of currency at will.
 

OldLady

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I know nothing about economics, don't try to have an opinion, but I do know when this country was truly free market, there were regular, cyclical depressions with banks folding and people's cash money being worthless overnight. It sounds to me like the government's huge interventions to avoid the apparently inevitable downturns in a free market, starting with the recession in '07, are making us broke anyway. Just a matter of now or later, and to keep the voters happy, they're kicking the can down the road 'til the next time.

I think most, if not all, states have balanced budget legislation. At this point, it would be hard to do, but I guess I don't understand why the federal government hasn't always had one.

That's how much I don't know.
Because they're effectively running the Government like a business to, in theory, make life better within the Country as we have a means to do so.

Most of the debt is US Citizens' buying it, for a return. It's basically loans, and loans to ourselves.

Not only can we make the monthly payment - but we have the assets to back up the debt to the tune of about $270Trillion* dollars. That's over one thousand percent of the GDP.

If the US were a business, our debt to asset ratio is healthy. That's why the Fed keeps saying, in re: to another stimulus, "we have a means to do so." Also, much of the debt is investment which gives us future returns, by design. The debt rahrah is over-hyped...but I suppose it's never a good thing to continuously exacerbate the debt.
Well, that sounds reassuring. I have no idea what it means, but I like 'not to worry.'
 
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Anyway, I don't feel like rambling about this shit this early in the day. lol.

Good luck, everyone. Win if you can. Lose if you must. Cheat a little if you can, just to get by. The government sure as hell is.
 
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Manonthestreet

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" Other Reasons Public Put On Policies Ignore "

* It Is The Economy Stupid Meme *

The President alone cant do much. Repubs were last party to try to do anything but ya all thought Teabaggers were crazy.....quit your whining and pay up
Much as it the republican party of the day , the tea baggers were inundated with anti-choice for abortion and the left to middle would not yield to them any ground .
Those issues are separate.....no excuse.
 

G.T.

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I know nothing about economics, don't try to have an opinion, but I do know when this country was truly free market, there were regular, cyclical depressions with banks folding and people's cash money being worthless overnight. It sounds to me like the government's huge interventions to avoid the apparently inevitable downturns in a free market, starting with the recession in '07, are making us broke anyway. Just a matter of now or later, and to keep the voters happy, they're kicking the can down the road 'til the next time.

I think most, if not all, states have balanced budget legislation. At this point, it would be hard to do, but I guess I don't understand why the federal government hasn't always had one.

That's how much I don't know.
Because they're effectively running the Government like a business to, in theory, make life better within the Country as we have a means to do so.

Most of the debt is US Citizens' buying it, for a return. It's basically loans, and loans to ourselves.

Not only can we make the monthly payment - but we have the assets to back up the debt to the tune of about $270Trillion* dollars. That's over one thousand percent of the GDP.

If the US were a business, our debt to asset ratio is healthy. That's why the Fed keeps saying, in re: to another stimulus, "we have a means to do so." Also, much of the debt is investment which gives us future returns, by design. The debt rahrah is over-hyped...but I suppose it's never a good thing to continuously exacerbate the debt.
Well, that sounds reassuring. I have no idea what it means, but I like 'not to worry.'
I wouldn't worry too much, but that's just me. Since most of our debt is owned by our own Citizens it's like - what are we going to do? have war with ourselves to pay back ourselves in the event of a default to ourselves?

In perspective, if the debt was so cumbersome on our Economy, our Economy wouldn't be so consistently #1. Hey, maybe we'd even be 3rd, or 16th! And still be awesome. There's a lot of reasons I don't worry about this bullcrap. It's just more partisan spiddle, and for conspiracy theorists, it's more fodder regarding illuminatis and rothschilds and blahblah

1. United States
U.S. Nominal GDP: $21.44 trillion - U.S. GDP (PPP): $21.44 trillion
The U.S. has retained its position of being the world's largest economy since 1871. The size of the U.S. economy was at $20.58 trillion in 2018 in nominal terms and is expected to reach $22.32 trillion in 2020. The U.S. is often dubbed as an economic superpower and that's because the economy constitutes almost a quarter of the global economy, backed by advanced infrastructure, technology, and an abundance of natural resources.


When the economies are assessed in terms of purchasing power parity, the U.S. loses its top spot to its close competitor China. In 2019, the U.S. economy, in terms of GDP (PPP), was at $21.44 trillion, while the Chinese economy was measured at $27.31 trillion. The gap between the size of the two economies in terms of nominal GDP is expected to lessen by 2023; the U.S. economy is projected to grow to $24.88 trillion by 2023, followed closely by China at $19.41 trillion.
 

danielpalos

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Clearly, the two party system has failed America.


U.S. Senator Ted Cruz addresses the Republican Party’s position on the national debt and deficits.

''During his 2016 presidential campaign, Donald Trump — even though he had dubbed himself “the king of debt” — promised to slash the mounting national debt until it was completely eliminated within eight years. Four years on, how’s that going? Not well.

Turns out the U.S. government, due in part to the coronavirus pandemic, ran a record budget deficit of $3.1 trillion in the fiscal year that ended in September. The deficit, which is the gap between what the U.S. spends and what it earns through tax receipts and other revenue, came to $2 trillion more than what the White House had forecast earlier in the year.
By comparison, the deficit in 2019 totaled $984 billion.

The cumulative effect of running up the deficit year after year, including 2020’s spike, has resulted in a national debt of more than $27 trillion, up from less than $20 trillion when Trump took office.''




Continued...
Because when Democrats spend big taxpayer's money, only the fringe element and the party elitists benefit.

But when Republicans spend big taxpayer's money, all Americans reap the benefit.

Flame suit on.
Isn't right wing fantasy wonderful.

 
OP
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Today you're going to read all over the board, from the same people, about how the GDP is exploding. Heh heh. It'll be the same old tired spew about blue versus red. Nobody's going to ask where the money came from. Not once. Watch. It'll be a repeat of the same intellectual dishonesty (though, more clearly a lack of understanding) that we saw about all of the extra money in everyone's pockets. Well, let's call it currency, because it isn't money. Money has to have a store of value. What they're printing doesn't have a store of value. Therein lies the fundamental problem.
Ahem....

lolol. We're so fucked. Really wish we could vote the electorate out, to be honest.
 
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Monk-Eye

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" Blinded From Collaboration By Sanctimonious Arrogance "

* Objections Are Mute And Let Us Move On With A Focus On Responsible Fiscal Policy *

Those issues are separate.....no excuse.
You do not need to explain it to me , but there is little in the way of getting around political guilt by association to get at the crux of the economic issue , which is another reason for my being adamant to finalize public understanding for the constitutional basis of abortion .
 
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JGalt

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Clearly, the two party system has failed America.


U.S. Senator Ted Cruz addresses the Republican Party’s position on the national debt and deficits.

''During his 2016 presidential campaign, Donald Trump — even though he had dubbed himself “the king of debt” — promised to slash the mounting national debt until it was completely eliminated within eight years. Four years on, how’s that going? Not well.

Turns out the U.S. government, due in part to the coronavirus pandemic, ran a record budget deficit of $3.1 trillion in the fiscal year that ended in September. The deficit, which is the gap between what the U.S. spends and what it earns through tax receipts and other revenue, came to $2 trillion more than what the White House had forecast earlier in the year.
By comparison, the deficit in 2019 totaled $984 billion.

The cumulative effect of running up the deficit year after year, including 2020’s spike, has resulted in a national debt of more than $27 trillion, up from less than $20 trillion when Trump took office.''




Continued...
Because when Democrats spend big taxpayer's money, only the fringe element and the party elitists benefit.

But when Republicans spend big taxpayer's money, all Americans reap the benefit.

Flame suit on.
Isn't right wing fantasy wonderful.

Common dreams? :auiqs.jpg:

Isn't the left-wing fantasy.......not so wonderful?
 

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