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Started By
Message
re: What should be done with DOGE savings?
Posted on 2/12/25 at 1:15 pm to BoudinChicot
Posted on 2/12/25 at 1:15 pm to BoudinChicot
quote:
Pay down the debt.
this is the only rational answer.
0
Posted on 2/12/25 at 1:16 pm to GumboPot
Fix some potholes.
Build public shooting ranges.
Build public shooting ranges.
Posted on 2/12/25 at 1:16 pm to tide06
quote:
We owe $30T in debt
Almost $37.
Just an FYI, approximately $8.25 needs to be paid down or refinanced this year. Yellen sold more than a normal amount of T-Bills (short term treasuries) and jammed up the Trump U.S. Treasury.
Posted on 2/12/25 at 1:16 pm to GumboPot
Borrow 1 trillion less. Meaning, we would still have to Borrow another trillion just to break even
Posted on 2/12/25 at 1:17 pm to GumboPot
Could probably balance the budget once you go through every government department. I'm sure the Democrats would even complain about that!
Posted on 2/12/25 at 1:17 pm to tide06
debt is first choice,
then yes, pay back SSI, other govt programs, etc.
increase payments to ex. service members. No reason so many should be living in poverty with the wealth in this country. Esp since US seems so keen on helping everyone else out in the world.
then yes, pay back SSI, other govt programs, etc.
increase payments to ex. service members. No reason so many should be living in poverty with the wealth in this country. Esp since US seems so keen on helping everyone else out in the world.
Posted on 2/12/25 at 1:19 pm to GumboPot
I don’t think people grasp the extent of our current financial predicament.
We are on the verge of outright financial meltdown.
30% of our tax revenue will go just to debt service this year.
I frankly think the DOGE austerity cuts are a godsend, but even with them we will need a debt reset of some sort or we will be insolvent within a decade.
We are on the verge of outright financial meltdown.
30% of our tax revenue will go just to debt service this year.
I frankly think the DOGE austerity cuts are a godsend, but even with them we will need a debt reset of some sort or we will be insolvent within a decade.
Posted on 2/12/25 at 1:19 pm to GumboPot
Cut it to bare bones as government is not in business but rather a backstop for Americans. What ever they expose them cut. Balance a budget with even more cuts
Posted on 2/12/25 at 1:20 pm to GumboPot
Do you even have to ask?!?!
Give it back to whom it belongs, US! Lower our taxes!
Give it back to whom it belongs, US! Lower our taxes!
Posted on 2/12/25 at 1:21 pm to TopWaterTiger
quote:
debt is first choice,
Agreed.
quote:
then yes, pay back SSI, other govt programs, etc.
Cool, once we eliminate the $2T / year deficit and the $37M debt there are a ton of things we should look to do.
At this point discretionary spending is like standing at the starting line of a marathon planning what kind of pizza you want afterwards… couple steps between here and there.
Posted on 2/12/25 at 1:21 pm to TrueTiger
quote:
Give it back to the taxpayers.
Or pay off $1T in debt and save ourselves $50B/year in interest.
Posted on 2/12/25 at 1:22 pm to Hodag
quote:
r when they get together to maybe write a budget for the first time in decades they merely spend less money.
After 16 years of CRs I do not trust congress can do this.
Congressional spending habits have us on an exponential track since 2008.
This post was edited on 2/12/25 at 1:24 pm
Posted on 2/12/25 at 1:23 pm to GumboPot
quote:
Set up an escrow account for future "emergency" needs?
frick no because the second a dem gets a hold of the reigns it will be pillaged.
give me back my money. i dont care if its 3.50
This post was edited on 2/12/25 at 1:24 pm
Posted on 2/12/25 at 1:23 pm to GumboPot
We should use it for the reeducation interment camps.
Posted on 2/12/25 at 1:23 pm to Boodis Man
quote:
Reparations for blacks
Posted on 2/12/25 at 1:25 pm to GumboPot
That’s my money the government took from me. I want it back with interest.
Posted on 2/12/25 at 1:25 pm to GumboPot
The country is in deep debt. Paying that off needs to be a priority.
Posted on 2/12/25 at 1:28 pm to GumboPot
There is a budget crisis coming in March
My suggestion would be for the president to submit a budget that eliminate every bit of fraud and waste that has been found which can be entered into a continuing resolution By Congress
Let them scream and cry about their favorite programs being eliminated but it puts the burden on them to either add back in specific programs or to shut the government down
But it puts the burden on Congress to do their job and we will then know the ones voting for their own pockets versus the American people
My suggestion would be for the president to submit a budget that eliminate every bit of fraud and waste that has been found which can be entered into a continuing resolution By Congress
Let them scream and cry about their favorite programs being eliminated but it puts the burden on them to either add back in specific programs or to shut the government down
But it puts the burden on Congress to do their job and we will then know the ones voting for their own pockets versus the American people
Posted on 2/12/25 at 1:28 pm to GumboPot
quote:
Regardless this has a deflationary impact. It removes dollars from the economy, which needs to happen.
We have something like $650 billion in gold reserves. Is that deflating the economy?
What about all the Federal lands and buildings that are idle?
Does the Strategic Petroleum Reserve, when it is full, deflate the economy?
Trump has mentioned Bitcoin.
Trump was talking about a Sovereign Wealth fund to leverage these assets. If that can be satisfactorily executed, those funds, and the assets above, and the economic benefits of leveraging/investing with them, could be used in a way, such as on a balance sheet, to reduce our borrowing costs. I am absolutely not in favor of making it easier to borrow, but driving our debt service down while growing the economy to pay it off sounds like a good idea, similar to how things looked in 2000 before Clinton and the Republicans (yes, working together) destroyed PAYGO. Then 911 came along and our Republican conservatives couldn't wait to spend more money.
Before we do any of that though, we should determine how much money has been illegally siphoned off of Medicare and SS and make those programs whole. Then the SS and Medicare trust funds should be co-managed with (but segregated from) the Sovereign Wealth fund to make those programs sustainable.
The, IF Congress borrows from SS ever again it should be forced to pay a an attractive return to compete with the SWF. This would incentivize Congress not to borrow but also to prioritize repaying those funds. Also, we need collateral.
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