when the bill comes due
- Thread starter Bulletbob
- Start date
On top of that you can add an unnecessary tax cut that will add additional trillions to the debt
Ok I will go with that. Now I will remind you that these were unusual circumstances and just like if you have an emergency in your own life and have to put a bunch of borrow and spend on your credit card, sooner or later you will have to pay that money back, we will have to do exactly the same, at least what greater revenues do not cover.
Just so ya know I am a firm believer in a balanced Budget at the State and Federal levels and that before implementing that we need to do a in-depth review of our spending and cut out the excess that simply does nothing by line peoples pockets, and yes across the board, we waste waaaaay too much money. Get rid of the waste and we might be surprised how much we really have and then Balance the Budget and keep it that way except in times of emergency, like we just had.
I did support the war in Iraq and would again , I don't support how we handled it after it was over, I supported some of the tax cuts as I do some of the current stimulus Package
I disdnt support much of o bung holes spending . you keep trying to turn this into a republican against democrat thread its not .
As I said all our presidents and congress are guilty were all guilty. its got to stop . and that's what this thread is about . Sorry if you don't get it .I am putting political party's and ideology aside for all our benefits and the next generations to come.
If you cant do that them that's on you
Don't we own the Printing Presses? We could just print the Money. Problem solved. (you might be overthinking this)
floridafan
Verified User
There is no need to bull shit me, my dear. The truth is that you have supported EVERYTHING done by a republican administration and nothing from the Democrats. You say you didn't like Obama spending, yet Trump spent as much in 4 years and you said NOTHING.
There is no response needed, sweetie, cause we know it will be one big lie, as usual.
Increasing the money supply as a solution to federal debt?
floridafan
Verified User
We could begin to repay our debt with cheaper dollars.
Think so? Isn't that called "inflation"?
How would that work, exactly, and what would be the legal basis for doing so? What would be the risks of such a policy? Has such a policy been successfully implemented before?
I'll understand if you don't know, of course.
Raising the min wage results in less welfare help, fewer food stamps, and less government support. Reds think they are losing power over minorities if they are paid better.
Into the Night
Verified User
The federal government has NEVER reduced the debt. The House just keeps spending and spending and spending. The Fed just keeps printing and printing and printing.
People are already looking around for another currency. Faith in the dollar is waning rather rapidly.
BAD idea unless you want to make the dollar worthless, but trump did once say exactly that a few years back, just print more.
Into the Night
Verified User
Won't do anything. Neither will raising taxes.
There are three ways for the SODC to raise money. They can tax it, borrow it, or print it.
Taxing too much causes revolts (possibly violent). This is known as a tax crash. Business activity leaves for other shores to survive.
Borrowing too much causes increased costs of borrowing everywhere or a default. This is called a debt crash. The 2007 crash was a debt crash.
Printing too much without a corresponding increase in wealth causes inflation, possibly hyperinflation. Government costs go up along with the rest of costs, and the cycle begins anew. This is called a cash crash. The usual result of a cash crash is to turn to another currency. The government cannot stop this.
Into the Night
Verified User
He didn't. The House did. Only the House has this authority.
Into the Night
Verified User
The illegitimate Biden regime that stole the 2020 election is already looking past its $1.9 trillion "coronavirus relief" bill and starting to consider how to pay for the next round of porkulus.
The challenges are twofold. Officials must decide how much of the bill to pay for with tax increases and which policies to finance with more borrowing. In a narrowly divided Congress, they must also craft a bill that can win support from nearly every DEMOCRAT.
The U.S. has borrowed trillions of dollars in the past year.
Most DEMOCRATS have signaled they may be willing to borrow more. But Republicans and Sen. Joe Manchin (D., W.Va.), say the ballooning national debt is a reason to ensure the spending is offset with tax increases or cuts elsewhere.
Janet Yellen said Sunday that the regime hasn’t decided whether to pursue a wealth tax, but will likely issue proposals to address the swelling federal budget deficit. Yellen admitted on ABC’s “This Week with George Stephanopoulos,” that Biden proposed higher taxes on corporations, on individuals and on capital gains and dividend payments before his 2020 election theft.
Biden's handlers are just starting to grapple with the issue. While they haven’t ruled out more borrowing to finance parts of the plan, Biden has continued to talk about his campaign proposals to raise taxes to pay for new permanent programs, said Jared Bernstein, a top economic adviser.
In the past year, successive rounds of stimulus spending to combat the coronavirus and its economic fallout have contributed to a nearly $4.5 trillion increase in federal debt held by the public, to $21.9 trillion as of March 1. At roughly the size of the nation’s pre-Biden economic output, the debt is the highest since the end of World War II.
The Congressional Budget Office this month projected that the national debt would double as a proportion of gross domestic product. The projection doesn’t include the huge porkulus package signed by Biden last week or his additional spending plans.
https://www.wsj.com/articles/white-house-weighs-how-to-pay-for-long-term-economic-program-11615714201?mod=hp_lead_pos3
Yup. It's only a matter of time now.