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re: “We’re going to pay off...the $35 trillion in debt. We’re going to pay it off...fast too.
Posted on 12/7/23 at 9:41 am to Bunk Moreland
Posted on 12/7/23 at 9:41 am to Bunk Moreland
quote:
Build Back Better/Inflation Reduction
Ever pay attention to the democrats naming of their ideas? In order to "build something back", it first needs to be destroyed. Otherwise, you are just doing a remodel. How is all of that spending on "green" energy going to reduce inflation? If the increase in spending caused inflation (I believe it did), wouldn't increasing spending even more cause more inflation?
0
Posted on 12/7/23 at 9:44 am to HVAU
quote:
someone can better compare their economic performance
Seems much more simple to me. Are you better off today than you were in Dec of 2019? That is the real question. EVERYONE was worse off in 2020 due to covid. As far as I know, neither biden nor Trump released covid upon the world. That was china.
Posted on 12/7/23 at 9:46 am to HVAU
quote:Given that all of the spending g passed Congress with almost unanimous votes (some were unanimous)… the blame doesn’t lie with Trump.
Kind of a bit sideways from the topic, but should Trump get a pass for the economics of the Covid years?
He does deserve criticism for wanting more stimulus checks, tho.
Posted on 12/7/23 at 9:46 am to RollTide71
quote:
Seems much more simple to me. Are you better off today than you were in Dec of 2019? That is the real question. EVERYONE was worse off in 2020 due to covid. As far as I know, neither biden nor Trump released covid upon the world. That was china.
I don’t think we’re looking at this conversation in the same way, so I’ll leave you to it.
Posted on 12/7/23 at 9:48 am to RollTide71
quote:I did. And I’ll repeat it for you—relativism is stupid. If you enjoy being lied to-have at it. We are not the same.
Since you weren't adult enough to answer my question, Biden is absolutely more full of dung that Trump.
Posted on 12/7/23 at 9:48 am to HVAU
quote:
I don’t think we’re looking at this conversation in the same way, so I’ll leave you to it.
Best of luck to ya
Posted on 12/7/23 at 10:01 am to Taxing Authority
quote:
Given that all of the spending g passed Congress with almost unanimous votes (some were unanimous)… the blame doesn’t lie with Trump. He does deserve criticism for wanting more stimulus checks, tho.
Feels like another extension of grace for Trump as it relates to economics. So if we’re going to make that extension, what sort of grace to Biden should be extended?
Honestly, I think we shouldn’t be extending these graces to either. The Congress that served in Trump’s later administration was placed there based in part on Trump’s popularity and his perceived success, or lack thereof, same with Biden. Also, both presidents had to deal with the economic fallout from Covid. Why should they have grace extended in that way?
Basically, what I’m trying to get to is a reasonable baseline for an honest discussion and comparison of the economics of both administrations. From my perspective, neither administration has been successful in regards to debt management, and any bold campaign proclamations about how they will handle the debt should be scrutinized with that in mind.
Posted on 12/7/23 at 11:09 am to HVAU
quote:The "infrastructure" bill had bi-partisan support. He couldn't veto it. The "inflation reduction act" was 100% partisan vote. He could have vetoed it.
Feels like another extension of grace for Trump as it relates to economics. So if we’re going to make that extension, what sort of grace to Biden should be extended?
quote:Nah. Trump's congress had no allies on either side. Congress did what they wanted. And Trump's inability to shape congress is pretty obvious--as he got nothing done legislatively other than taking credits for Paul Ryan's tax cuts.
The Congress that served in Trump’s later administration was placed there based in part on Trump’s popularity and his perceived success, or lack thereof, same with Biden.
In 2020/2022 Biden had not coattails, but Trump did a nice job getting Democrats to turn out and vote down ballot. He helped the GA senators lose--so we got both full democrat control in Congress.
quote:Presidents don't make appropriations. They can only shape what happens in Congress. Biden is MUCH better than Trump in working with Congress. So what you see coming out of Congress--he has a lot bigger role and responsibility in creating.
Basically, what I’m trying to get to is a reasonable baseline for an honest discussion and comparison of the economics of both administrations.
For example, see the "infrastructure" bill. Trump wanted basically the same bill--but couldn't get it passed in Congress.
Posted on 12/7/23 at 11:09 am to RollTide71
quote:
y than you were in Dec of 2019?
Why did you stop there?
Posted on 12/7/23 at 11:10 am to RollTide71
Negative, I hold US treasuries, therefore I hold US debt. The US can not force me to sell it back to them. They can certainly modify the amount of new debt. The duration of existing debt is what it is. They also can't just cancel the debt unless you would like to live in a world where your mortgage is 25% interest.
It's not like there's a creditor that the US can just pay back at will like your complete analogy.
All of that without even going into how impractical, ridiculous, and unfeasible it is to think we could pay off 30 trillion in debt even if it did work that way. The correct thought process is growing income to a point where the debt is not as big a % of income, either by greatly growing income or stopping new debt creation for a extended amount of time. (Ie debt to gdp). Not to mention additionally, he's been president already, and he was one of the most elite debt creators we ever had as president.
What trump said is developed for people that have no clue.
It's not like there's a creditor that the US can just pay back at will like your complete analogy.
All of that without even going into how impractical, ridiculous, and unfeasible it is to think we could pay off 30 trillion in debt even if it did work that way. The correct thought process is growing income to a point where the debt is not as big a % of income, either by greatly growing income or stopping new debt creation for a extended amount of time. (Ie debt to gdp). Not to mention additionally, he's been president already, and he was one of the most elite debt creators we ever had as president.
What trump said is developed for people that have no clue.
This post was edited on 12/7/23 at 11:27 am
Posted on 12/7/23 at 11:17 am to Big Scrub TX
The Federal Government owns half the oceanfront property on the West Coast. They could sell off the mineral rights alone and sink the debt tomorrow if they wanted to.
Posted on 12/7/23 at 11:18 am to RollTide71
quote:
Pass, no. However, GOPe and democrats pushed all of that spending.
Trump lobbied for more spending than Pelosi proposed. He should absolutely be held accountable for his role in the Covid response debacle.
Posted on 12/7/23 at 11:20 am to David_DJS
quote:
Trump lobbied for more spending than Pelosi proposed
Exactly.
According to these rubes, Trump was the strongest leader ever, until 2020 when everyone turned on him.
What a leader.
Posted on 12/7/23 at 11:21 am to BBONDS25
quote:
He was doing pretty good before the global pandemic
If you're a big government/feed the establishment liberal, you're right.
Posted on 12/7/23 at 11:50 am to Pendulum
quote:
The correct thought process is growing income to a point where the debt is not as big a % of income
I have a problem with that, specifically:
quote:
(Ie debt to gdp)
Why do we use GDP when calculating a debt to income ratio for the federal government? The GDP is not the government's income, it's the whole country's. If you want to do D/I for GDP, then you have to look at ALL debt, public and private. If you simply want to compare federal debt to income, you'd have to look at just federal revenues as income.
Otherwise what you're saying is that the entire GDP is available to finance the federal debt. I don't think that's right.
Posted on 12/7/23 at 12:05 pm to aggressor
quote:
I still 'member when he promised this in '16. How did that go?
It was going well, despite having to work through many many obstacles by sick fricks that you apparently like. You like being a slave?
Posted on 12/7/23 at 12:11 pm to BBONDS25
quote:
He was doing pretty good before the global pandemic
One thing we weren't doing was paying down the debt. We were still running huge deficits and adding to the cumulative debt. If you think for a second that we will pay down a cent of the outstanding debt in a second Trump term you can't be taken seriously. Just call his statement what it is. Total bullshite.
Posted on 12/7/23 at 12:12 pm to DotBling
quote:
was going well,
Lol!
Posted on 12/7/23 at 12:14 pm to Powerman
quote:
Total bullshite.
Very similar to all of your posts.
Posted on 12/7/23 at 12:18 pm to Y.A. Tittle
quote:
Rubber dog shite used to be the punch line when we were still able to make actually important stuff.
You don't think we make important stuff? I bet you're also against government investments to help us make the important stuff.
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