Bankrupt Back Better

[Legion]

CBO and the Joint Committee on Taxation project the budgetary effects, including the effects on interest costs, of a modified version of H.R. 5376, the Build Back Better Act, that would make various policies permanent rather than temporary.

https://www.cbo.gov/system/files/2021-12/57673-BBBA-GrahamSmith-Letter.pdf

Discuss.

 

[Hawkeye10]

CBO and the Joint Committee on Taxation project the budgetary effects, including the effects on interest costs, of a modified version of H.R. 5376, the Build Back Better Act, that would make various policies permanent rather than temporary.

https://www.cbo.gov/system/files/2021-12/57673-BBBA-GrahamSmith-Letter.pdf

Discuss.

America is already bankrupt, both financially and culturally, we just have not admitted it yet.

BIG PAIN is coming.

 

[archives]

CBO and the Joint Committee on Taxation project the budgetary effects, including the effects on interest costs, of a modified version of H.R. 5376, the Build Back Better Act, that would make various policies permanent rather than temporary.

https://www.cbo.gov/system/files/2021-12/57673-BBBA-GrahamSmith-Letter.pdf

Discuss.

But the actual proposal does not make them permanent and in fact has sunset dates set on most, Lindsey's ploy is purposely misleading, what a shocker

 

[Hawkeye10]

But the actual proposal does not make them permanent and in fact has sunset dates set on most, Lindsey's ploy is purposely misleading, what a shocker

Knowing that once the programs are started they are almost impossible to stop because the citizens get addicted to the "free stuff"....these fuckers are not interested in figuring out how to pay for the "free stuff" though.....we are now exactly like bad drug addicts about to hit bottom.....this is obvious to anyone who is not deranged.

 

[Jack]

There's no 'Free Lunch'.

 

[Hawkeye10]

Musk figured out the scam.

 

[Celticguy]

America is already bankrupt, both financially and culturally, we just have not admitted it yet.

BIG PAIN is coming.

he question is, how fast ?

we are barely keeping up with debt service and using tricks to do that.

I am figuring I will miss out on the feces hitting the rotary oscillator being old as dirt but I worry for my daughter and her family.
Not thinking they will escape it.

What I can't sort out is just what happens.

The world is so interconnected I can't really see some sort of hatefest or Stone Age II.

Who really holds all this debt and what recourse do they have against THE WORLD ? Lets be honest, its not just us.

 

[Legion]

It's hard to believe, but America was founded to avoid high taxation

Wasn't the federal income tax levied to pay for the cost of DEMOCRAT insurrectionists who tried to storm the capital in 1861?

Why, yes...yes, it was.

And it was repealed once the defeated DEMOCRATS had been subjugated and forced to accept Black Americans as equals.

Then DEMOCRATS tried to impose an income tax of their own in 1894 and were slapped down by the Supreme Court as unconstitutional in 1895.

But the DEMOCRATS didn't give up, In 1913, they shepherded the 16th Amendment through in order to make the taxes they craved constitutional and permanent.

Now we're supposed to believe they won't find a way to make their Bankrupt Back Better boondoggle permanent?

 

[archives]

Knowing that once the programs are started they are almost impossible to stop because the citizens get addicted to the "free stuff"....these fuckers are not interested in figuring out how to pay for the "free stuff" though.....we are now exactly like bad drug addicts about to hit bottom.....this is obvious to anyone who is not deranged.

Too many ifs reliant on what you think you know, reality is that they are not prescribed to be permanent and have sunset dates, dishonest thread

 

[Hawkeye10]

he question is, how fast ?

we are barely keeping up with debt service and using tricks to do that.

I am figuring I will miss out on the feces hitting the rotary oscillator being old as dirt but I worry for my daughter and her family.
Not thinking they will escape it.

What I can't sort out is just what happens.

The world is so interconnected I can't really see some sort of hatefest or Stone Age II.

Who really holds all this debt and what recourse do they have against THE WORLD ? Lets be honest, its not just us.

I was till the pandemic believing that the Really Big Crash, which will last at least a decade likely much longer, the Chinese will insist, happens 2027-2032.

Now I think it will be here much sooner, maybe tomorrow.

The global economic system is toast, irretrievably.

The Chinese and friends will invent a new one.

 

[Celticguy]

Wasn't the federal income tax levied to pay for the cost of DEMOCRAT insurrectionists who tried to storm the capital in 1861?

Why, yes...yes, it was.

And it was repealed once the defeated DEMOCRATS had been subjugated and forced to accept Black Americans as equals.

Then DEMOCRATS tried to impose an income tax of their own in 1894 and were slapped down by the Supreme Court as unconstitutional in 1895.

But the DEMOCRATS didn't give up, In 1913, they shepherded the 16th Amendment through in order to make the taxes they craved constitutional and permanent.

Now we're supposed to believe they won't find a way to make their Bankrupt Back Better boondoggle permanent?

its a given.

same with kicking student loan repayment down the road till they steal the votes to buy votes with free college.

its all about the vote buying.

those phoney baloney elected officials jobs are damned lucrative.

and dont kid yourselves that term limits will matter, it just expands the payroll to soak the ones buying pols even more.

 

[Celticguy]

I was till the pandemic believing that the Really Big Crash, which will last at least a decade likely much longer, the Chinese will insist, happens 2027-2032.

Now I think it will be here much sooner, maybe tomorrow.

The global economic system is toast, irretrievably.

The Chinese and friends will invent a new one.

I agree that the clock has jumped up dramatically.

And China will certainly have a major stake in the brave new world.

And thats not a good thing at all.

 

[archives]

Wasn't the federal income tax levied to pay for the cost of DEMOCRAT insurrectionists who tried to storm the capital in 1861?

Why, yes...yes, it was.

And it was repealed once the defeated DEMOCRATS had been subjugated and forced to accept Black Americans as equals.

Then DEMOCRATS tried to impose an income tax of their own in 1894 and were slapped down by the Supreme Court as unconstitutional in 1895.

But the DEMOCRATS didn't give up, In 1913, they shepherded the 16th Amendment through in order to make the taxes they craved constitutional and permanent.

Now we're supposed to believe they won't find a way to make their Bankrupt Back Better boondoggle permanent?

Given the 16th Amendment wasn't ratified until 1913,

 

[archives]

Wasn't the federal income tax levied to pay for the cost of DEMOCRAT insurrectionists who tried to storm the capital in 1861?

Why, yes...yes, it was.

And it was repealed once the defeated DEMOCRATS had been subjugated and forced to accept Black Americans as equals.

Then DEMOCRATS tried to impose an income tax of their own in 1894 and were slapped down by the Supreme Court as unconstitutional in 1895.

But the DEMOCRATS didn't give up, In 1913, they shepherded the 16th Amendment through in order to make the taxes they craved constitutional and permanent.

Now we're supposed to believe they won't find a way to make their Bankrupt Back Better boondoggle permanent?

Someone stormed the Capital in 1861? Interesting, I thought it was only in 1812 and 2021, now we got another winger revision to history?

And it was a Repbulican Congress in 1861, 1894, and 1913, so I don't no where "copy and paste" is getting his Democrats did this, Democrats did that, Tucker?

Appears "copy and paste's" knowledge of American History is as shallow as his understanding of economics

 

[Hawkeye10]

I agree that the clock has jumped up dramatically.

And China will certainly have a major stake in the brave new world.

And thats not a good thing at all.

Life is going to get ever more brutal for Americans as far as the eye can see. The hopeless optimists such as Stone have completely failed to understand the situation, in part I think because they refuse to get their heads around how profoundly conservatism has failed. Even worse it is a failure powered by refusing to learn, and refusing to try, over many decades....the failure to perform was willful.

Note: This is also the likely reason Earl keeps thread banning me....just like with Moon he can stand to hear the truth....the truth torments him.

 

[T. A. Gardner]

Big Bucks Blunder

 

[Hoosier Daddy]

CBO and the Joint Committee on Taxation project the budgetary effects, including the effects on interest costs, of a modified version of H.R. 5376, the Build Back Better Act, that would make various policies permanent rather than temporary.

https://www.cbo.gov/system/files/2021-12/57673-BBBA-GrahamSmith-Letter.pdf

Discuss.

at least we are getting something out of it, paid for by increases to the rich in taxes. trump increased the public debt by 40% in just 4 years, and all it did was cut taxes for the rich and big corporations.

Under Donald Trump's Watch, the National Debt …
https://www.newsweek.com/under-donald-trumps-watch...
Under Donald Trump's Watch, the National Debt Increased by ...
4:03
Jan 14, 2021 · During President Donald Trump's tenure in the White House, the national debt grew by some $7.8 trillion—or nearly 40 percent compared to the amount when former President

How Much Did The US National Debt Go Up Under President Trump?
https://www.davemanuel.com/2021/01/16/president-trump-national-debt
Jan 16, 2021 · On President Trump's first day in office (January 2017), the total debt load of the nation was $19.947 trillion. So, over the course of a little less than 4 years, the United States added roughly $7.733 trillion in debt. Just before the COVID-19 pandemic started in the United States, the national debt load of the country was $23.442 trillion.

this was before trump let covid fuck up our economy!!

The national debt just barreled past $23 trillion. Here's how Trump's $3 trillion portion compares to Obama, Bush, and Clinton.
Joseph Zeballos-Roig Nov 25, 2019, 11:41 AM

The national debt of the United States barreled past $23 trillion on November 1, according to data from the Treasury Department. It marked the most money the federal government has owed and is a result of a growing budget deficit, which neared $1 trillion in the last fiscal year.

To put that in perspective, the $23 trillion figure is roughly equal to the economies of China, Japan, and Germany combined, according to the Peterson Foundation, an organization advocating deficit reduction.

Yet three years into a norm-shattering presidency, Donald Trump's spending measures up similarly with that of his predecessors.

He's in line with past Republican presidents like George W. Bush, who racked up deficits with boosts in military spending and a wave of tax cuts. Trump has added about $3 trillion to the national debt so far during his nearly three years in office, despite his pledge to wipe it out in eight years and his campaigning on being "the king of debt."

 

[Celticguy]

Life is going to get ever more brutal for Americans as far as the eye can see. The hopeless optimists such as Stone have completely failed to understand the situation, in part I think because they refuse to get their heads around how profoundly conservatism has failed. Even worse it is a failure powered by refusing to learn, and refusing to try, over many decades....the failure to perform was willful.

Note: This is also the likely reason Earl keeps thread banning me....just like with Moon he can stand to hear the truth....the truth torments him.

Orwell may have said it best: "ignorance is strength"

 

[T. A. Gardner]

 

[Hawkeye10]

Orwell may have said it best: "ignorance is strength"

It is scary how right he was. He and Alan Watts both saw the reality and the truth of the situation long before almost anyone else, and tried to warn us. We almost universally refused to listen. And now we are here, descending into Hell.