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re: Update: national debt more than $1 trillion larger than just 6 months ago
Posted on 3/2/18 at 8:17 am to Old Hellen Yeller
Posted on 3/2/18 at 8:17 am to Old Hellen Yeller
quote:
Trump knows we can’t declare bankruptcy, right?
We don't have to - we're sovereign. When that day comes - and it will come - the nation will have to live within its means, just as a bankrupt would going forward, unable to incur more debt.
Difference is - a sovereign can print money - which would solve everything, except the horrifying inflation that would follow.
But, the nation - from a debt solvency has been insolvent for some time - certainly once the Obama Administration doubled the debt, largely as a result of policies enacted in the first 2 years - not that we were looking all that great before (W's administration was a profligate spender, too).
Realistically - the solution would be put Gingrich in charge of the house again, for 2 to 4 years and get spending back under control.
We have a spending problem. We can't tax or pray our way out of this until we fix spending.
Period.
1
Posted on 3/2/18 at 8:21 am to Ace Midnight
We do have a spending problem and it's largely due to policies that were poorly thought out long ago
Social security going in the red is a huge fiscal problem
Social security going in the red is a huge fiscal problem
Posted on 3/2/18 at 8:55 am to 90proofprofessional
quote:Sorry I missed this when you posted it. Your chart indicates a perfectly level debt for 6months during Obama's final budget year, 9Mar-7SEP. Do you think Trump somehow spent $318 Billion on Sep 8th?
have an UV for feeling the need to bring a fact-free, melt-induced swipe
have a second, honorary UV for bringing us the cool phrase of "frozen debt"
Posted on 3/2/18 at 8:57 am to NC_Tigah
quote:
On September 8, 2017, gross U.S. debt increased almost $318 billion after President Trump signed legislation temporarily suspending the debt limit as part of a deal to fund the government and the emergency response to Hurricane Harvey. However, the large spike in debt is not particularly noteworthy: debt is largely catching up to what it would have been under normal operating procedures if the Treasury Department was not taking special actions to avoid hitting the debt limit.
For the last century, the debt ceiling has limited the total amount of money the government can borrow. After being suspended in November 2015, the debt limit was reinstated on March 16, 2017 at $19.809 trillion, at which point the government could not issue new debt (gross debt was higher than the limit because about $36 billion was not subject to the limit). As such, gross debt stayed flat at around $19.845 trillion between March 16 and September 7.
The federal government continued to run sizeable deficits, but the Treasury Department used a series of “extraordinary measures,” such as suspending payments to certain federal pension funds, to keep the debt from breaching the limit. These measures can only be used for a limited amount of time, and according to Treasury Secretary Steven Mnuchin it was critical that Congress raise the debt limit by the end of September to avoid defaulting on the government's obligations.
LINK
Posted on 3/2/18 at 8:57 am to 90proofprofessional
quote:
Update: national debt more than $1 trillion larger than just 6 months ago
Thanks, Obama
Posted on 3/2/18 at 8:59 am to gthog61
quote:
Why don't you tell us what policies of Trump's "caused" this?
Absolutely. If Obama gets credit for the stock market, then he should get the blame for this.
Posted on 3/2/18 at 9:06 am to 90proofprofessional
Feel like this post is going over some of your heads. Obviously Trump's presidency coincided with the prior admin's budget through the end of the FY. Which is really more Congress than the President anyway.
Buttt a lot of you were cheering Trump for saving money several months ago. It just goes to show that some of you automatically credit Trump for good news and pass off blame for bad news. No consistency.
Buttt a lot of you were cheering Trump for saving money several months ago. It just goes to show that some of you automatically credit Trump for good news and pass off blame for bad news. No consistency.
Posted on 3/2/18 at 9:36 am to NC_Tigah
quote:No he doesn't. He makes these threads to mock the multiple threads that popped up throughout the year, that cited The Gateway Pundit and The Conservative Treehouse, who were arguing that we were truly running a surplus because of Trump.
Do you think Trump somehow spent $318 Billion on Sep 8th?
Numerous posters, including the OP, explained that this was an accounting mechanism, but they ignored this anyways and some even argued against it (especially KCT).
Now that their fantasy reality, is shown to be incorrect, they either ignore it, divert blame away from Trump who they were crediting before, and/or pull the ole "Obama Debt/Now you care about the debt" talking point.
Posted on 3/2/18 at 9:53 am to NC_Tigah
quote:
Sorry I missed this when you posted it. Your chart indicates a perfectly level debt for 6months during Obama's final budget year, 9Mar-7SEP. Do you think Trump somehow spent $318 Billion on Sep 8th?
Are you fricking kidding me, after giving me shite about 'being clueless as to the nature of supposedly "frozen debt" '
Maybe read the thread next time
Posted on 3/2/18 at 10:22 am to cahoots
quote:The title reads Update: national debt more than $1 trillion larger than just 6 months ago.
Feel like this post is going over some of your heads.
If the point was related to Trump saving money, the title did not make that clear, and reference to a supposed $1 trillion increase in the national debt over a 6 month span was fallacious.
Meanwhile, in face of continuing projected deficits, any spending reductions would obviously be measured in actual vs projected deficit rather than debt reductions.
Posted on 3/2/18 at 10:27 am to 90proofprofessional
quote:No, I'm not "fricking kidding you".quote:Are you fricking kidding me
Sorry I missed this when you posted it. Your chart indicates a perfectly level debt for 6months during Obama's final budget year, 9Mar-7SEP. Do you think Trump somehow spent $318 Billion on Sep 8th?
I missed your doughheaded response in realtime.
Regarding the response and since you still seem confused, do you think Trump somehow spent $318 Billion on Sep 8th?
Posted on 3/2/18 at 10:37 am to 90proofprofessional
Not happy about it and not gonna defend it...guess we need to kick Trump out and bring in the debt hawk Hillary Clinton
Posted on 3/2/18 at 10:44 am to NC_Tigah
quote:I've already explained this for you a few posts above because I've participated in the same threads. The OP is mocking those who thought the debt was actually decreasing, and ignore the OP and others, that were pointing out the same thing you're highlighting.
Regarding the response and since you still seem confused, do you think Trump somehow spent $318 Billion on Sep 8th?
Posted on 3/2/18 at 11:26 am to NC_Tigah
quote:
If the point was related to Trump saving money, the title did not make that clear, and reference to a supposed $1 trillion increase in the national debt over a 6 month span was fallacious.
The thread title, re: issued debt outstanding, is true at face value. Do you dispute this?
quote:
I missed your doughheaded response in realtime.
You joined this thread more than 12 hours ago, after I described the nature of the climbs & leveling-offs of that debt figure's growth, and just came back. What, exactly, was "doughheaded", other than your entire participation here so far?
quote:
Regarding the response and since you still seem confused, do you think Trump somehow spent $318 Billion on Sep 8th?
Why do you post repeatedly in a thread that spans days, asking stupid questions, without actually reading the thread?
This post was edited on 3/2/18 at 11:28 am
Posted on 3/2/18 at 11:48 am to 90proofprofessional
quote:
Why do you post repeatedly in a thread that spans days, asking stupid questions, without actually reading the thread?
quote:I appreciate the crawfish re: "issued debt outstanding". It would be pertinent if that were the OP title. It wasn't.
The thread title, re: issued debt outstanding, is true at face value.
So we'll try again, regarding the response and since you still seem confused, do you think Trump somehow spent $318 Billion on Sep 8th?
Posted on 3/2/18 at 11:50 am to NC_Tigah
quote:
I appreciate the crawfish re: "issued debt outstanding". It would be pertinent if that were the OP title. It wasn't.
interesting. what do you believe the figure represents? quote:
So we'll try again, regarding the response and since you still seem confused, do you think Trump somehow spent $318 Billion on Sep 8th?
I don't see how you could have read the thread and not know the answer to that question.
Posted on 3/2/18 at 11:51 am to 90proofprofessional
quote:I absolutely know the answer. That is the point.
I don't see how you could have read the thread and not know the answer to that question.
It is a simple "yes" or "no".
Do you think Trump somehow spent $318 Billion on Sep 8th?
Posted on 3/2/18 at 11:58 am to NC_Tigah
quote:
I absolutely know the answer. That is the point.
I'm not sure I believe you do. So go ahead and tell me what you think, please.
At that point I will offer a quote of a previous post of mine in this thread, that was made prior to your first post ITT, that may offer some evidence one way or the other.
Posted on 3/2/18 at 12:02 pm to 90proofprofessional
Another poster says that according to some here Trump somehow magically decreased the debt in his first month. He said the OP targeted those previous silly Trump posts. If that was the attempt, fine.
Problem is your basis for the critique erred in the same way as those whom he claims you were targeting. I presume that's why you refuse to answer the Sep8th question.
Problem is your basis for the critique erred in the same way as those whom he claims you were targeting. I presume that's why you refuse to answer the Sep8th question.
Posted on 3/2/18 at 12:05 pm to 90proofprofessional
quote:
I'm not sure I believe you do.
It's a really simple "yes" or "no".
Instead you "duck" and "dodge"
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