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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 12/8/23 at 4:15 am to crazy4lsu
Posted on 12/8/23 at 4:15 am to crazy4lsu
quote:People on here pretend that they are so darn smart. Yet they can't understand simple concepts. You use the extra money that you did not spend to buy back the "securities" that have matured.
You can’t “pay more than the interest” on this type of security.
quote:Ok. When they mature, pay them off and don't sell more. Debt is down, just like my credit card. Geeze.
Each type has its own maturation period. You can’t “pay more than the interest” on this type of security.
quote:As the debt goes higher and higher, do you think the trust in the gov't paying goes up or down? What happens to the value of the securities then?
The reason they are highly valued is that the US is always pays its interest obligations.
1
Posted on 12/8/23 at 4:18 am to RollTide71
I used to trust the GOP more than the Democrats about government spending, deficits and the debt.
But dag-nabbit if that dang Clinton didn't eliminate the annual (not the historical "piled up from the past") deficit.
So it seemed like - let's keep going along this path and we will be solvent in a decade or so.
Then the Republicans ran George Bush who said in the debates about the debt "It's not the governments money it's your money, it's the people's money" and pushed a big tax cut.
In other words he was saying "if you are being responsible and cutting the deficit, we will come in and cut taxes and make that a lot more difficult".
At that point, understandably, the Democrats threw up their hands and said, frick it, let's just spend, it's not like the GOP wants to cut the deficit, so why should we give a shite. And so here came the programs (and I can't blame them, why not?).
But dag-nabbit if that dang Clinton didn't eliminate the annual (not the historical "piled up from the past") deficit.
So it seemed like - let's keep going along this path and we will be solvent in a decade or so.
Then the Republicans ran George Bush who said in the debates about the debt "It's not the governments money it's your money, it's the people's money" and pushed a big tax cut.
In other words he was saying "if you are being responsible and cutting the deficit, we will come in and cut taxes and make that a lot more difficult".
At that point, understandably, the Democrats threw up their hands and said, frick it, let's just spend, it's not like the GOP wants to cut the deficit, so why should we give a shite. And so here came the programs (and I can't blame them, why not?).
Posted on 12/8/23 at 4:23 am to RollTide71
quote:
If you have to resort to cursing and personal attacks, you have already lost
quote:
Have a good day lib.
remarkable.
Posted on 12/8/23 at 4:31 am to Eurocat
quote:Actually that is not true. Clinton signed it, but Newt Gingrich and the Republicans dragged him to the bargaining table kicking and screaming.
hat dang Clinton didn't eliminate the annual
quote:There wasn't a pound of difference between clinton, bush or obama. Other than obama prefers men who dress up as women. They were spend and spend types.
Republicans ran George Bush who said in the debates about the debt "It's not the governments money it's your money, it's the people's money" and pushed a big tax cut.
quote:We don't have a taxation problem in America. We have a spending problem. I have a good paying job. However, my wife would spend it ALL, plus another 20-30% if I allowed it.
cut taxes and make that a lot more difficult
quote:If you believe that, I've got lot's of things to sell you. The democrats have been spending to buy votes since Lincoln made them free the slaves....
the Democrats threw up their hands and said, frick it, let's just spend
Posted on 12/8/23 at 4:40 am to RollTide71
quote:
You use the extra money that you did not spend to buy back the "securities" that have matured.
lol
quote:
Ok. When they mature, pay them off and don't sell more. Debt is down, just like my credit card. Geeze.
Holy shite. This is the complete opposite of credit card debt. Just because the debt number goes down does not make the two similar.
quote:
As the debt goes higher and higher, do you think the trust in the gov't paying goes up or down?
The US debt has increased precisely because there is a demand for US securities.
Debt and assets are part of the same transaction. You guys are obsessed with the debt number as though it exists in a vacuum. As long as GDP growth is good, the debt can be serviced. Furthermore, what happens to the money that is paid out when the security matures? It doesn’t disappear. Even foreign holders of US debt will use that money to fund balance of payments. That money will be used to facilitate further transactions using the US dollar, increasing the velocity of transactions in dollars.
And GDP growth has been fantastic. The US economy is more than 2 times larger than it was in 2002. Given the demand for the dollar, a robust US economy, and stagnant growth elsewhere, the US is in a very good position worldwide. The obsession with the debt is curious given the realities. It isn’t like we are taking out loans with the IMF or something.
Posted on 12/8/23 at 4:46 am to crazy4lsu
quote:Really. On the credit card you pay extra toward principal and don't add additional debt, your total debt goes down. You use extra tax dollars to buy back maturing securities and don't sell (borrow) more, the total debt goes down. Total debt goes down in both cases, seems kinda similar to me. But then, I'm not a lefty and can see both similarities and differences. Lefties only see differences. That's (D)ifferent.
Just because the debt number goes down does not make the two similar.
Sorry dude, owing 34+ Trillion is not a good thing.
This post was edited on 12/8/23 at 4:48 am
Posted on 12/8/23 at 4:53 am to pankReb
quote:In Alynski's rules for radicals there are more things than just number 5.
remarkable.
5. "Ridicule is man's most potent weapon. There is no defense. It is almost impossible to counterattack ridicule. Also it infuriates the opposition, who then react to your advantage."
You should try to work the others in as well.
And not responding directly to the person you are attempting to ridicule is kinda cowardly too, don't ya think?
This post was edited on 12/8/23 at 4:55 am
Posted on 12/8/23 at 4:58 am to RollTide71
quote:
On the credit card you pay extra toward principal and don't add additional debt, your total debt goes down. You use extra tax dollars to buy back maturing securities and don't sell (borrow) more, the total debt goes down. Total debt goes down in both cases, seems kinda similar to me. But then, I'm not a lefty and can see both similarities and differences. Lefties only see differences. That's (D)ifferent.
Sorry buddy, the US cannot go bankrupt due to its own obligations. That essential difference seems to escape you.
quote:
Sorry dude, owing 34+ Trillion is not a good thing.
Of course you can't deal with any thing other than 'muh debt number big therefore bad!' It's okay. It's above your paygrade.
Posted on 12/8/23 at 5:05 am to crazy4lsu
quote:I don't even know what that means. But then, I'm not still suckling momma's teat, know whether I'm a man or a woman and mean tweets don't bother me. Let me guess you think "muh Orange man bad"...
muh
Absolutely the US can go bankrupt. If owners of the debt decide to cash their securities in, the gov't is going to buy it back. Where's that money gonna come from? Printing press? How has printing more and expanding the money supply worked with inflation so far?
This post was edited on 12/8/23 at 5:13 am
Posted on 12/8/23 at 5:12 am to RollTide71
quote:
I don't even know what that means.
Yeah like I said, much of what I wrote was way above your paygrade.
quote:
Absolutely the US can go bankrupt.
Not due to its own obligations.
quote:
If owners debt decide to cash their securities in, the gov't is going to buy it back.
Why would any one do that?
quote:
How has printing more and expanding the money supply worked with inflation so far?
Considering when QE started and when it ended, it worked remarkably well.
Posted on 12/8/23 at 5:18 am to crazy4lsu
quote:Of course you are. I've never met a lib that didn't think they were the smartest in the room. So far, I've never met one (present company included) that could be without being alone in that room.
Yeah like I said, much of what I wrote was way above your paygrade.
quote:Really? Wow.
Not due to its own obligations
quote:Because they don't trust that the securities will worth anything int he future because of the MASSIVE debt. The interest on 34 trillion at 3% is a Trillion dollars a year.
Why would any one do that?
quote:So you think paying 30-50% more today than you did 4 years ago for the same things is "working remarkably well"?? Paying 7-8% for a home loan as opposed to 3% is a good thing? Either someone else pays for you, you're just stupid or both.
Considering when QE started and when it ended, it worked remarkably well.
This post was edited on 12/8/23 at 5:21 am
Posted on 12/8/23 at 5:30 am to RollTide71
quote:
So far, I've never met one (present company included) that could be without being alone in that room.
This is a terribly written sentence.
quote:
Really? Wow.
Do you know who I am quoting?
quote:
Because they don't trust that the securities will worth anything int he future because of the MASSIVE debt.
What? This makes no sense. No one is forcing people, institutions or other governments to buy US securities. Why would they buy them and then return them? The market indicates a steady demand for US securities and certain geopolitical situations ensure that US securities will be regarded as a safe haven for quite a while.
quote:
So you think paying 30-50% more today than you did 4 years ago for the same things is "working remarkably well"?
But inflation is a two-part equation and you are missing the other side. QE was started for a specific purpose and was extremely successful in its aim.
quote:
Paying 7-8% for a home loan as opposed to 3% is a good thing?
Rates are right around what they were as a historical average. If you can’t afford it then rent.
Posted on 12/8/23 at 5:41 am to crazy4lsu
quote:Terribly written or not, it's true.
This is a terribly written sentence.
quote:
Do you know who I am quoting?
Normally a quote is preceded by a " and followed by a ". Surely the grammar police would know that.
quote:Exactly and when those with panic and decide to cash them in the gov't has to buy them back. Buying them back will require printing more money. If you thought I was talking forcing people, you're not nearly as smart as you presume yourself to be.
No one is forcing people, institutions or other governments to buy US securities.
quote:If the goal was to make the average person spend MORE for things, I guess it has succeeded.
extremely successful in its aim.
quote:Pompous, pretentious, condescending and arrogant. I'd expect nothing less from a lib.
If you can’t afford it then rent.
By the way, are you still mad that Bama broke your quarterback?
This post was edited on 12/8/23 at 5:42 am
Posted on 12/8/23 at 5:54 am to Tandemjay
quote:
Wrong, you globalist, America last said the same thing about Trump's tariffs but prices didn't go up.
Do we live on the same planet?
Posted on 12/8/23 at 5:59 am to RollTide71
quote:
Normally a quote is preceded by a " and followed by a ". Surely the grammar police would know that.
You didn’t answer the question.
quote:
Exactly and when those with panic and decide to cash them in the gov't has to buy them back. Buying them back will require printing more money. If you thought I was talking forcing people, you're not nearly as smart as you presume yourself to be.
So in some insane imagined scenario that isn’t reflective of reality? This isn’t going to happen, especially because of the state of the rest of the world. Why would anyone panic? They know the size of US debt obligations right now. They can look at the growth of the US GDP and realize that the US is in no danger of missing a payment. The reality is that there is consistent demand for US securities. Your scenario doesn’t make any sense.
quote:
If the goal was to make the average person spend MORE for things, I guess it has succeeded.
You seem to avoid the most pertinent aspects of an argument and retreat to random screeds.
quote:
Pompous, pretentious, condescending and arrogant.
It is easy to appear so when dealing with barely literate morons.
Posted on 12/8/23 at 6:45 am to RollTide71
quote:
If you have to resort to cursing and personal attacks, you have already lost
quote:
But then, I'm not still suckling momma's teat, know whether I'm a man or a woman and mean tweets don't bother me. Let me guess you think "muh Orange man bad"...
Just a gift that keeps on giving.
Posted on 12/8/23 at 6:47 am to crazy4lsu
quote:
It is easy to appear so when dealing with barely literate morons.
This new gump is a fun one. I hope he sticks around.
Posted on 12/8/23 at 6:48 am to crazy4lsu
quote:
Debt and assets are part of the same transaction. You guys are obsessed with the debt number as though it exists in a vacuum. As long as GDP growth is good, the debt can be serviced.
As long as printing money is without consequence, anything can be serviced. But, it’s not without consequence.
Posted on 12/8/23 at 6:49 am to Big Scrub TX
Yep, that's political blather. Maybe we can auction off Federal Land, especially Federal Park Land
Posted on 12/8/23 at 7:27 am to mauser
quote:
Maybe we can auction off Federal Land, especially Federal Park Land
Give it to the tribes to manage.
White people are simply urban consumers today, not in touch with the land at all.
This post was edited on 12/8/23 at 7:28 am
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