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Started By
Message
re: Budget deficit up 13% from last year, on track for nearly 2 trillion dollars
Posted on 3/8/24 at 10:28 pm to HailHailtoMichigan!
Posted on 3/8/24 at 10:28 pm to HailHailtoMichigan!
quote:
Budget deficit up 13% from last year, on track for nearly 2 trillion dollars
So glad our team nominated a guy who hates excessive government spending.
0
Posted on 3/8/24 at 10:30 pm to HailHailtoMichigan!
It's a zero sum game per the TD russian expert. 
Posted on 3/9/24 at 4:45 am to RogerTheShrubber
quote:
We;re at the new normal. If they can survive with 32t debt, they'll keep kicking the can. We've already paid the price with inflation for much of it.
This may sound dumb but the only way to make debt seem insignificant is to increase the economy and inflate GDP and the currency to make a dollar today worth 10 cents or a penny in the future.
A loaf of bread that was 3.50 is now 350 dollars. That level of inflation would really frick over anyone with significant savings.
One thing that may help is lowering interest rates. With Fed trying to slow inflation by raising interest rates, that is increasing the interest being paid on the debt. In simple terms, for every million debt, the U.S. pays 20,000 dollars a year in interest at 2 percent if rates are that low. But now that rates are double that closer to 4% that 20,000 is now 40,000. Multiply that over the trillions owed, we doubled our debt servicing obligations in interest payments. If rates stay high and Joe Biden continues his reckless spending in the Ukraine and spending billions to house migrants in the country and spending billions in federal giveaway programs, we are going to get to the point where interest payments exceed tax receipts.
Posted on 3/9/24 at 4:55 am to Tarps99
quote:
A loaf of bread that was 3.50 is now 350 dollars. That level of inflation would really frick over anyone with significant savings.
I would think the 30% loss in purchasing power over the past few years would wake people up at this point, but they seem hellbent on continuing the same policies.
The value of the dollar has been eroded by 85% over the past 50 years. This is why a guy who works at a shoe store can no longer afford a house.
Its not corporate greed, its monetary policy, period.
This post was edited on 3/9/24 at 4:56 am
Posted on 3/9/24 at 4:59 am to Powerman
quote:The responsible thing is to pass a balanced budget amendment.
The responsible thing is to slow the growth of the debt by running smaller deficits
Posted on 3/9/24 at 5:25 am to NC_Tigah
quote:
The responsible thing is to pass a balanced budget amendment.
Evidently, P'man doesnt want the government restrained by responsibility.
Posted on 3/9/24 at 5:27 am to HailHailtoMichigan!
Shameful. House Republicans screwing up the budget as usual; they need to raise taxes in a literally uplifting fashion to close that monstrous spending gap-- unreal
Posted on 3/9/24 at 5:31 am to NC_Tigah
quote:
a balanced budget amendment
I know he has the morals of a barnyard goat, but... he was the GOAT. He balanced the budget, lak' a BOSS!!
Mr we could use a man like William Jefferson Clinton, today.
Posted on 3/9/24 at 5:31 am to tarzana
quote:
they need to raise taxes in a literally uplifting fashion to close that monstrous spending gap-- unreal
The idea of less spending is unfathomable to progressives.
Posted on 3/9/24 at 5:58 am to tarzana
quote:
Mr we could use a man like William Jefferson Clinton, today.
Clinton did zero to fix the budget deficit, he just so happened to be president when the economy was decent and welfare was a smaller percentage of federal spending.
The members of WWII generation were in their last years of work or delayed collecting their social security until their 70th birthday.
Healthcare, while expensive, was not as expensive as it is today. No Obamacare mandates, tranny care, no Medicare Part D, no major wonder drugs that were priced in the 10’s of dollars per pill to get a hardon yet to be paid by the government or 1,000 Ozempic pens,, etc.
A car was still reasonably affordable, no six figure EV’s and 7500 dollar tax credits for the rich to afford the EV’s.
No millions of migrants sucking the federal treasury dry, if they came they found work. Some were sent back at the hands of early morning FBI raids, even a famous kid. If they had a kid on US soil, we did end up having to pay for something to support our new citizens.
No major nation building expenditures in places that hate us, and a MIC that was smaller before exploding after 9/11.
We still had some manufacturing still based in this country before being shipped to Mexico and eventually China.
This post was edited on 3/9/24 at 6:51 am
Posted on 3/9/24 at 6:01 am to TheHumanTornado
quote:
Tax cuts are a bitch
Unnecessary spending of assloads of cash are what gets you.
But...you already knew that.
Posted on 3/9/24 at 6:08 am to Tarps99
quote:
Clinton did zero to fix the budget deficit, he just so happened to be president when the economy was decent
Clinton got to ride the dotcom/internet balloon to a balanced budget.
My dogs steaming pile on the front lawn could have done that...or Joe Biden.
Posted on 3/9/24 at 6:12 am to HailHailtoMichigan!
quote:
tsunami of spending on an aging population
This isn’t the tsunami of spending we face.
Posted on 3/9/24 at 6:14 am to Powerman
quote:
We're not going to pay it off and any plans to do so would be foolish
Spoken like a true “I’m owed everything because I can fog a mirror” moron. Gimme gimme gimme gimme gimme
Posted on 3/9/24 at 6:19 am to HailHailtoMichigan!
National debt is going up a trillion dollars every four months.
Posted on 3/9/24 at 6:26 am to Night Vision
quote:
National debt is going up a trillion dollars every four months.
Still waiting on Presidential candidates to address this issue. They avoid it at all costs. What a joke.
Posted on 3/9/24 at 6:45 am to TheHumanTornado
quote:
Tax cuts are a bitch
What did tax receipts do the year(s) following the implementation of the TCJA?
Posted on 3/9/24 at 6:55 am to HailHailtoMichigan!
quote:
Deficits? Why does he think we have high inflation and high interest rates after he took office? The debt was $28 trillion when he came in and now after just 3 years it is nearly $35—and is now growing by $1 trillion every 100 days. At the current rate a two-term Biden presidency would have in aggregate added $22 trillion more to national debt.
quote:
Any Never Trumper who would vote for such a screeching maniac is suicidal. The night’s nadir? Joe, of the Hunter-Biden family consortium, damned the money-grubbing “rich” who “don’t pay their fair share of taxes”—all of this when his own son is now facing multiple felony counts for not paying any income tax at all! And Joe himself has received lots of family money without paying tax on such “loan repayments”.
quote:
Ukraine? Biden started out with Ukraine, not inflation, not the border, not crime. Does he remember he suspended military aid to Ukraine upon taking office? Does he know that Putin did not invade a neighboring country in just one administration of the last four? Does he know why? Does he recall his humiliation in Afghanistan that green lighted Putin? There are now 700,000 combined casualties in Ukraine and so what is the plan to end our Verdun? Another 6-month-long “spring offensive” against fortified lines?
quote:
The Border? Do we remember Mayorkas bragging in detail how Biden rescinded all of Trump executive orders (he listed them by name) to destroy the border and let in 8-10 million illegal aliens? Biden campaigned on just that, calling on illegal aliens to “surge” the border.
This post was edited on 3/9/24 at 7:00 am
Posted on 3/9/24 at 7:01 am to dgnx6
quote:
Deficits? Why does he think we have high inflation and high interest rates after he took office?
That’s not how this works
Posted on 3/9/24 at 7:08 am to OccamsStubble
quote:
Inflation? It is up 17% since he took office! Prices of the stuff of life have risen 30%—staple foods, fuel, appliances and care, shelter, mortgages. etc.
quote:
A demagogic fuming Biden gave another Phantom of the Opera speech blasting conservatives for all the destruction that he has caused and has resulted in his own historic unpopularity.
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