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The Debt Limit..

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FakeAndyStuart
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Re: The Debt Limit..

Post by FakeAndyStuart » Sun May 28, 2023 10:18 am

bmw wrote:
Sun May 28, 2023 9:42 am

This just sealed Trump's nomination, IMO.
And Biden's reelection.



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Bryce
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Re: The Debt Limit..

Post by Bryce » Sun May 28, 2023 10:55 am

MWmetalhead wrote:
Thu May 11, 2023 6:21 am
Commenting just from a political perspective - IF the Republicans ultimately cave on this issue (which, if past behavior is any indication, that is a likely outcome) and Biden mostly gets his way, the Republican party is finished.
I disagree with that premise. A debt default could have disastrous consequences in terms of the capital markets, and people's 401K balances could tank. I think under such a scenario voters are more likely to blame Congress than the President.
But why would we have to have a default on debt? The feds are going to collect somewhere in the area of 80 billion dollars of revenue in June. That would make an interest payment on the debt with bunches left over. Pay the bills first, then spend what is left.


New York and Chicago were all in with respect to their sanctuary status — until they were hit with the challenge of actually providing sanctuary. In other words, typical liberal hypocrisy.

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TC Talks
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Re: The Debt Limit..

Post by TC Talks » Sun May 28, 2023 11:25 am

Bryce wrote:
Sun May 28, 2023 10:55 am
MWmetalhead wrote:
Thu May 11, 2023 6:21 am
Commenting just from a political perspective - IF the Republicans ultimately cave on this issue (which, if past behavior is any indication, that is a likely outcome) and Biden mostly gets his way, the Republican party is finished.
I disagree with that premise. A debt default could have disastrous consequences in terms of the capital markets, and people's 401K balances could tank. I think under such a scenario voters are more likely to blame Congress than the President.
But why would we have to have a default on debt? The feds are going to collect somewhere in the area of 80 billion dollars of revenue in June. That would make an interest payment on the debt with bunches left over. Pay the bills first, then spend what is left.
This isn't some lawn care business. Your idea sounds neat from someone who must have no ideas how Government works. But you do.

Using the lawn care model; pay debt, lose your employees, upset your vendors, and stop all work? Genius idea.

This was a stupid idea from a bunch of rookies who seemed attention starved. Now we can ignore them, as a moderate caucus seems to have emerged in the house.


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

Posting Content © 2024 TC Talks Holdings LP.

bmw
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Re: The Debt Limit..

Post by bmw » Sun May 28, 2023 12:45 pm

FakeAndyStuart wrote:
Sun May 28, 2023 10:18 am
bmw wrote:
Sun May 28, 2023 9:42 am

This just sealed Trump's nomination, IMO.
And Biden's reelection.
That's far from certain.

https://www.realclearpolitics.com/epoll ... -7383.html

Moreover, Biden's approval rating sits at around 42%. His approval/disapproval numbers are a near-carbon-copy of what Trump's looked like before the 2020 election.

Lastly, I won't be shocked if somebody like Newsom throws his hat into the ring.



bmw
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Re: The Debt Limit..

Post by bmw » Sun May 28, 2023 12:48 pm

TC Talks wrote:
Sun May 28, 2023 9:55 am
Maybe the pendulum is move back to moderation.
Capping spending for 2 years without any cuts (when the Republican position going into negotiation was to return to 2022 spending levels, which is hardly a radical position) is not what I'd call moderation. Most Democrats will vote in favor of this deal because, as per usual, they got the better end of it. Ultimately, we continue down the path of massive federal spending and a growing, unsustainable debt.



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TC Talks
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Re: The Debt Limit..

Post by TC Talks » Sun May 28, 2023 2:35 pm

Debt is a virtual threat.


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

Posting Content © 2024 TC Talks Holdings LP.

km1125
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Re: The Debt Limit..

Post by km1125 » Sun May 28, 2023 3:46 pm

Debt's not a problem as long as you never have to pay the interest on it.



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TC Talks
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Re: The Debt Limit..

Post by TC Talks » Sun May 28, 2023 3:55 pm

km1125 wrote:
Sun May 28, 2023 3:46 pm
Debt's not a problem as long as you never have to pay the interest on it.
That's why these moss toothed idiots in the Inbred Freedom Caucus need to be squashed.


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

Posting Content © 2024 TC Talks Holdings LP.

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Rate This
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Re: The Debt Limit..

Post by Rate This » Sun May 28, 2023 4:24 pm

bmw wrote:
Sun May 28, 2023 12:48 pm
TC Talks wrote:
Sun May 28, 2023 9:55 am
Maybe the pendulum is move back to moderation.
Capping spending for 2 years without any cuts (when the Republican position going into negotiation was to return to 2022 spending levels, which is hardly a radical position) is not what I'd call moderation. Most Democrats will vote in favor of this deal because, as per usual, they got the better end of it. Ultimately, we continue down the path of massive federal spending and a growing, unsustainable debt.
I keep hearing the debt is some giant problem lurking to kill us and we have gone from $4 to $30+ Trillion in 22 years… gee… we are still here.



km1125
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Re: The Debt Limit..

Post by km1125 » Sun May 28, 2023 4:27 pm

Rate This wrote:
Sun May 28, 2023 4:24 pm
bmw wrote:
Sun May 28, 2023 12:48 pm
TC Talks wrote:
Sun May 28, 2023 9:55 am
Maybe the pendulum is move back to moderation.
Capping spending for 2 years without any cuts (when the Republican position going into negotiation was to return to 2022 spending levels, which is hardly a radical position) is not what I'd call moderation. Most Democrats will vote in favor of this deal because, as per usual, they got the better end of it. Ultimately, we continue down the path of massive federal spending and a growing, unsustainable debt.
I keep hearing the debt is some giant problem lurking to kill us and we have gone from $4 to $30+ Trillion in 22 years… gee… we are still here.
How much of our annual budget just pays for interest on the debt?



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TC Talks
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Re: The Debt Limit..

Post by TC Talks » Sun May 28, 2023 5:22 pm

Hard to exactly qualify when interest rates so favorable to lenders. In 2021 it was about 8%


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

Posting Content © 2024 TC Talks Holdings LP.

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Bryce
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Re: The Debt Limit..

Post by Bryce » Sun May 28, 2023 5:58 pm

km1125 wrote:
Sun May 28, 2023 4:27 pm
Rate This wrote:
Sun May 28, 2023 4:24 pm
bmw wrote:
Sun May 28, 2023 12:48 pm
TC Talks wrote:
Sun May 28, 2023 9:55 am
Maybe the pendulum is move back to moderation.
Capping spending for 2 years without any cuts (when the Republican position going into negotiation was to return to 2022 spending levels, which is hardly a radical position) is not what I'd call moderation. Most Democrats will vote in favor of this deal because, as per usual, they got the better end of it. Ultimately, we continue down the path of massive federal spending and a growing, unsustainable debt.
I keep hearing the debt is some giant problem lurking to kill us and we have gone from $4 to $30+ Trillion in 22 years… gee… we are still here.
How much of our annual budget just pays for interest on the debt?
From what I understand we are currently making larger interest payments then we spend on national defense.


New York and Chicago were all in with respect to their sanctuary status — until they were hit with the challenge of actually providing sanctuary. In other words, typical liberal hypocrisy.

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TC Talks
Posts: 10100
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Re: The Debt Limit..

Post by TC Talks » Sun May 28, 2023 7:57 pm

Bryce wrote:
Sun May 28, 2023 5:58 pm
km1125 wrote:
Sun May 28, 2023 4:27 pm
Rate This wrote:
Sun May 28, 2023 4:24 pm
bmw wrote:
Sun May 28, 2023 12:48 pm
TC Talks wrote:
Sun May 28, 2023 9:55 am
Maybe the pendulum is move back to moderation.
Capping spending for 2 years without any cuts (when the Republican position going into negotiation was to return to 2022 spending levels, which is hardly a radical position) is not what I'd call moderation. Most Democrats will vote in favor of this deal because, as per usual, they got the better end of it. Ultimately, we continue down the path of massive federal spending and a growing, unsustainable debt.
I keep hearing the debt is some giant problem lurking to kill us and we have gone from $4 to $30+ Trillion in 22 years… gee… we are still here.
How much of our annual budget just pays for interest on the debt?
From what I understand we are currently making larger interest payments then we spend on national defense.
You are incorrect. Here's 2022...
Image


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

Posting Content © 2024 TC Talks Holdings LP.

bmw
Posts: 6723
Joined: Sun Dec 05, 2004 1:02 am

Re: The Debt Limit..

Post by bmw » Sun May 28, 2023 8:39 pm

$475 billion a year in debt interest and a $1.4 trillion annual deficit isn't exactly something to brag about.



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Rate This
Posts: 13961
Joined: Wed Jan 08, 2020 12:17 am

Re: The Debt Limit..

Post by Rate This » Sun May 28, 2023 10:24 pm

bmw wrote:
Sun May 28, 2023 8:39 pm
$475 billion a year in debt interest and a $1.4 trillion annual deficit isn't exactly something to brag about.
Well… if you repeatedly cut taxes and never cut spending this is what happens. I’d say this is by design by the folks who are proponents of cutting taxes.



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