While there have been lots of fretting and gloom and doom about piling onto our existing $37 trillion dollars of debt and what that portends for the future, I am unconcerned as we have trustworthy and serious statesmen on the case who tell me not to trust the projections. And, after all, if there were serious concerns about increasing deficits stemming the bill wouldn’t there need to be a huge raising of the debt ceiling, a step “deficit hawk” conservatives just won’t abide? I mean if you included a $5 trillion dollar debt ceiling increase in the bill then that would be a dead giveaway wouldn’t it?
Discuss.
Look at the bright side. The 813 billionaires in the United Statex will continue to afford $60 million dollar weddings. That will take the sting out of the local small town hospital closing.
Gaskilldawg
The only way, for a long time, the US could zero out the debt it print money. Both parties did not have the balls to cut enough and now no amount of cutting will get it to zero. Probably started when Congress got their hands into the social security money 70 years ago.
So keep digging? Is there a second rule of holes?
You’re such a pessimist Derek! My president told me that soon we’re all about to have so much money we’re not going to know what to do with it all. So don’t you dare tell me that he’s full of shit. THE TARIFFS ARE GOING TO MAKE US SO MUCH MONEY WE WILL BE SWIMMING IN IT LIKE SCROOGE MCDUCK!! Go watch some more of your MSDNC but don’t let your librul tears cause more flash flooding because we cut the funding to our emergency preparedness initiatives.
Graf, what’s your plan? Inquiring minds would like to know. Instead of wallowing in your own semen.
Don’t threaten me with a good time.
Personally, I would have welcome some courageous austerity, but as I said in November, I expected what we got: the rich get richer is the law of the land. And lots of fuck the poor!
The gop pattern has been long established:
“Carter, Clinton, Obama are president? We just can’t afford it!!! Look at the deficit!! Debt ceiling increase? No way!! We’re the party of fiscal responsibility!”
“Reagan, Bush, Trump are president? We can’t afford not to spend the money!! It’ll pay for itself AND less taxes means less spending. Inconsistent?!? Irresponsible? Mean spirited? Fuck you libtard!”
When the folks get fed up and send the Mandami’s to come for it all, don’t say I didn’t warn you.
Keep pissing the bed to get warm. It won’t last. That tab is gonna get paid one way or another and when it comes due its gonna make 1929 and 2008 look like a paradise.
Taxes in this country have historically been levied on ability to pay. Therefore, richer people have historically paid a higher percentage of taxes than poorer people. It’s not like there are that many billionaires that built their financial empires without hiring lower paid employees (i.e, there’s no such thing as a self made billionaire). What the GOP has been most successful at is selling supply side economics to their non-wealthy voters. A lot of Republican voters have been convinced that tax cuts for the very wealthy will allow money to trickle down from the rich to the poor, despite the fact that it NEVER happens. Supply side (AKA trickle down) economics is a farce. Meanwhile the GOP is trying to convince the middle class that they will somehow be hurt by taxing the rich more because they’re going to eventually be rich and they’ll be hurt, and some people living in trailer homes and relying on Medicaid vote against their own self interests because they’re poorly educated, ignorant, and they hear it on TV or the internet. It’s all a bunch of horseshit the Republican party has been selling it’s voters, and Republican voters eat it up. But if you can’t see that transferring $50 trillion from the poor and middle class to the billionaire class, you are an idiot.
Biden left out that the debt under his watch is on pace to exceed Trump’s one-term debt accumulation by the end of his current term, Jan. 20, 2025. During his first three years, Biden already accumulated $6.32 trillion in debt. For his final year, the nonpartisan Congressional Budget Office has projected a deficit of $1.582 trillion. Add those two figures together and you get $7.902 trillion as Biden’s four-year total. Source-PolitiFact
I’m told that trusting the CBO is naive.
Inheriting a pandemic can do that to you.
I’m trying to work up a little angst about this, but I made the mistake of listening to Joe Rogan’s podcast a few days ago. He was talking to a professor about AI evolving hyper-exponentially and basically going 1st generation Terminator on us in a decade or so. Apparently, Elon Musk is the first evolution and we’ll soon be relegated to labor camps or zoos except we won’t realize it, ’cause we’re kept safe and happy.
Im old enough to remember when being I was told Bidenomics was working and I was too stupid to understand the economy was doing great. Those same people had to change their campaign messaging when it wasnt working. Now they tell me the economy is bad cause orange man.
Reminds me of the guy who I ran up his Amex up to the max.
His economy was full of steaks and scotch and vacations!
I mean he had a great time, so what could possibly be the problem?