US Debt Limit

BackofBeyond said:
Mute point. That bill would have to clear the senate before it landed on Biden's desk - so really it's just stating the obvious, but not actually saying anything at all.
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That's where pissed off Joe comes in to play. The Senate is also shy a few voting members right now. Also other red state Dems up for re-election could vote in favor of it.

Maybe Joe should sit down and have a conversation with Kevin?
 
SAJ-99 said:
I have no problem with that veto. And isn't the Student loan forgivness almost dead anyway?


We tried it. Economic downturns were more frequent, deeper, and longer. The ability to control the money supply across various economic conditions is the key to stability and stability is important to Capitalism. Everything else is just arguing about how it affects one group or another, and really that is just the last 20yrs- the internet sticks again.
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did the gold standard not place discipline on gov't spending and if so, the economic downturn that is likely to result from the reckless spending/printing will make past economic downturns look very mild.
 
Handlebar said:
did the gold standard not place discipline on gov't spending and if so, the economic downturn that is likely to result from the reckless spending/printing will make past economic downturns look very mild.
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I don’t think it did, but I guess you could say so. Either way, it’s not simply a spending problem. Let’s think about the future.

1. If you want the US $ to stay the world’s reserve currency, we have to run a structural deficit in the current account. Just wonky economic reality.
2. If we are concerned about the amount of interest we have to pay, defaulting on debt is not the way to solve that.
3. If you want real growth, you have to pay something for it. Think of it as planting a seed. We just have to make sure we get a harvest back that was greater than what was planted.
4. The government budget is not like a personal budget. Comparing the two is silly. See #1.
5.none of this means we are not on an unsustainable path, just beware politicians bearing solutions that seem easy.
6. No one knows what the future will be.
 
SAJ-99 said:
McCarthy doesn’t even have the votes from his own to pass the bill. Some complaining about cutting ethanol tax credits. Irony.
The tax collection drop was expected (a lot of last year was Elon sales of Tesla to buy Twitter).
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Nice spin.

"But analysts are warning that it doesn’t look good. While tax receipts were always expected to be below 2021’s robust levels, they are even weaker than forecast – down around 35% so far."

Joe's a disaster. Hard to believe the Democrats are going to run him again. Good luck with that.
 
BigHornRam said:
Joe's a disaster. Hard to believe the Democrats are going to run him again. Good luck with that.
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I think disaster is pretty harsh. He’s not my first pick, for sure, but versus the alternative??? I can deal with the occasional “woke” trend in the interweb if we can keep going in the right direction and ignore the noise.
 
And Musk kicked in around 8 billion when he sold Tesla shares. Drop in the bucket for the total receipts. We sure do piss away a lot of money these days!

"Total Receipts: Up by 21 Percent in Fiscal Year 2022. In 2022, federal revenues amounted to $4.9 trillion—$850 billion (or 21 percent) more than the receipts recorded in 2021."
 
BigHornRam said:
And Musk kicked in around 8 billion when he sold Tesla shares. Drop in the bucket for the total receipts. We sure do piss away a lot of money these days!

"Total Receipts: Up by 21 Percent in Fiscal Year 2022. In 2022, federal revenues amounted to $4.9 trillion—$850 billion (or 21 percent) more than the receipts recorded in 2021."
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Ignore the noise. Can't you tell we are headed in the right direction?
 
SAJ-99 said:
I think disaster is pretty harsh. He’s not my first pick, for sure, but versus the alternative??? I can deal with the occasional “woke” trend in the interweb if we can keep going in the right direction and ignore the noise.
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The Donald is Joe Plug's Hillary...his plank should read I'm in the basement shitting my adults and reminiscing cornpop fabrications, but at least I'm not what's his name. That's his platform and election strategy in a nutshell. His minders are on the strings pulling policy, buying votes, and demonizing, or ignoring, anything the GOP suggests, while the executive manikin tourettes 'bipartisanship' occasionally, and Harris giggles word salads incessantly, often repeating verbatim gibberish.
 
noharleyyet said:
The Donald is Joe Plug's Hillary...his plank should read I'm in the basement shitting my adults and reminiscing cornpop fabrications, but at least I'm not what's his name. That's his platform and election strategy in a nutshell. His minders are on the strings pulling policy, buying votes, and demonizing, or ignoring, anything the GOP suggests, while the executive manikin tourettes 'bipartisanship' occasionally, and Harris giggles word salads incessantly, often repeating verbatim gibberish.
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Can’t disagree. But if the last guy made sense to you when he spoke you might need to look into meds.
 
noharleyyet said:
The Donald is Joe Plug's Hillary...his plank should read I'm in the basement shitting my adults and reminiscing cornpop fabrications, but at least I'm not what's his name. That's his platform and election strategy in a nutshell. His minders are on the strings pulling policy, buying votes, and demonizing, or ignoring, anything the GOP suggests, while the executive manikin tourettes 'bipartisanship' occasionally, and Harris giggles word salads incessantly, often repeating verbatim gibberish.
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Much to agree with here, but still better than the alternative on the ballot.
 
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