Plus they aren't going to default. The law requires those debts to be paid. They will simply delay payment to contractors and such. The taxpayer receipts are enough to fully cover bond obligations easily.
I wouldn't be so sure that all obligations will be covered 'easily'. Sure, outstanding bond payments, you can roll them (500b comes due, and you just issue another 500b in debt to pay the maturing 500b).
But with things like the government now trying to backstop all bank deposits, at the systemically important banks, boy oh boy, things could get messy in a hurry.
Whats needed is a 25% reduction in spending, and its needed 8 years ago.
It's not about the demand, it's about how much each dollar is worth. The dollar isn't tied to anything that has an actual worth. It only has worth because the Federal Reserve says it has worth. There's several things that determine that worth in the eyes of the rest of the world, and one of those things is the ability to pay back debt.
Remember back under Obama when our debt crossed a threshold and the dollar as a currency was downgraded?
Yahoo is downplaying the possibility of it happening again, but it is a thing. It's actually worse than it was back in 2011 because there's several major countries that are getting off the Petro-Dollar. Also, Yahoo downplaying this is how you know it's predominately Biden's fault.
Well it legitimately is - until it’s not. Nobody really understands modern economics. But the point is that debt and value don’t really matter, just growth. The problem is that growth can’t really always accelerate.
Obviously that’s an oversimplification but my point is that we are far past the times of manageable debt and value economics. Things are much different now and it’s sort of unexplored territory, practically speaking
I hate to be the bearer of bad news. But the only time the R's a fiscal conservatives is when they are not in power. When they are running the show- they spend like drunken sailors. By the time Trump entered office we'd run up $15 trillion in debt since 1776. By the time he left office, the federal debt was over $22 trillion. That's about a 50% increase.
So a little bit of introspection is in order here. There are ways to lower the debt. Holding our credit rating hostage (by people who themselves have shown no fiscal restraint) is not the way forward in my opinion.
Democrats want to spend money. They're in charge of the money. They give themselves more money. Democrats are in charge of the executive that wants more money to spend, Republicans in the legislative don't want to give it to them. In both situations both groups are acting in the same manner.
Neo-cons want to spend more money. One could argue that all republicans want to spend more money in practice, while arguing otherwise in principle. Which is probably the truth, but one always hopes there's now enough principled members that want to be responsible.
Say you want cuts and actually putting cuts is one thing. All smoke and mirrors my friend. Just keep voting Reps. See where that gets you. MAGA only no grifters either like brobert and MTG
Their "brand" is cutting spending and lowering the taxes of their wealthy patrons and corporations. Thereby either cutting services, or shifting the tax burden non to the middle class. Or both.
Note there was no GOP platform (for the first time ever) coming out of the 2020 convention. When Cocaine Mitch was asked what the Republicans stand for he said he'd let the voters know once they'd regained the majority. The Republicans only want to wield power. They have no interest in governing. It is no accident that they ran on and won with immigration as the #1 issue in 2016. Yet when they had 2 years of control over the WH and both houses of Congress- they didn't even draft an immigration bill. Not that they didn't pass one. They didn't even fucking try to write one. That's because it was their biggest fundraiser and vote getter. It serves their needs best as a rally point. There is no incentive to actually fix it.
Look what happened with abortion. That was the #1 issue for decades. Now they're like the dog that caught the car. None of them want to talk about it. Not one of them is out there saying "Look what we did, we ended abortion". And that's because in many Red states and districts, that gets you murdered at the polls. And it animates Blue voters- the Red ones are all happy to take the W and stay home.
The House alone has control over the debt ceiling. If we default, the blame will fall squarely on the Republicans shoulders. As it should. There is no unilateral measure that the Dems or the Executive branch can take at this point. And a default will fuck everything. Massive unemployment, huge interest rate spikes, recession- a perfect storm of economic catastrophe. It's so fucking reckless I can hardly begin to describe it.
Look on the bright side, if we default, then no more lending to buy houses and then we have a house crash for Millennials & Gen-Z to buy homes at affordable prices.
Whats affordable? Commies complained about living wage and got $14+ dollars an hour now with inflation they are worse off.
I see plenty of "People who can't afford houses" with brand new i phone Xxi $1k+ car payment and blowing hundreds of dollars a week on chicken tendies with all the dippy sauces.
Doesn't matter what Gen you are its about priorities. Anyone with the drive and desire can buy a house. Better question is how can certain people afford to rent, have car, and cell phone payments, while eating fast food 5times a week
Meanwhile, the regime is parroting a talking point about the budget deficits of the Trump administration without context. The pandemic spending was going to happen regardless of who was in charge.
Proven: After a massive fixed election (2020) is over and the puppet is elected, there is no way that we can get out of a criminal and corrupt fake administration until the next 4 years to the next election.
What Obiden has done each and every day to destroy America, there is no recourse for another 4 years. To me, he and his cult have created high Treason and should be taken out immediately. Though to date, nothing has been done.
It has been 2 1/2 years. Questions and evidence has been produced. If they did a hand count of ballots from day one across the nation, this would definitely prove that there was election fraud in every county and state. This could have been completed within a month or so. The deep state knows this so they delay, delay, delay and use their corrupt judges to dismiss each and every case brought in front of them.
So many polls all the time, yet I've never participated in a single one because I've never been asked. Makes me wonder where all of these polls come from.
That is good news for us, it means that having a backbone on this situation will result in our advantage. Previous Debt crisis have been “Victory In” and “Victory Out” for democrats. Since hitting the debt ceiling allowed them to campaign on the evil republicans preventing money from going to grandmother. A failure to negotiate being more likely to be blamed on Biden by people allows us to get what we want and if they refuse, they have to take blame.
Freeze the current budget. No increases at all, even for inflation. Keep it this way for as many years as it takes to pay off the entire national debt.
Dems didn't raise the ceiling when they had full control of the House and Senate.
The issue isn't the debt CEILING. It is the DEBT.
The issue is criminals in DC running things.
The issue is balance your fucking budget with legislation so we don't get into this horseshit mess.
So many right answers, hard to choose the best one.
Z) All of the above!
You are so right dude. Until they reign it in, we are going nowhere financially as a country.
seeing how that sock puppet managed to squander 11 trillion dollars in just two years...
Would help if we ended the fucking Fed as well!
they keep spending like its just paper with no meaning. they should be forced to manual labor just so they understand how hard it’s earned.
Nancy Pelosi and Feinstein with shovels lol. Are you trying to work them to death?
just saying they won’t appreciate working class till they do a mile in our shoes.
YES!!!
Plus they aren't going to default. The law requires those debts to be paid. They will simply delay payment to contractors and such. The taxpayer receipts are enough to fully cover bond obligations easily.
I wouldn't be so sure that all obligations will be covered 'easily'. Sure, outstanding bond payments, you can roll them (500b comes due, and you just issue another 500b in debt to pay the maturing 500b).
But with things like the government now trying to backstop all bank deposits, at the systemically important banks, boy oh boy, things could get messy in a hurry.
Whats needed is a 25% reduction in spending, and its needed 8 years ago.
The big bond holders (International bankers, big wigs, Black Rock, Soros, etc) will demand payment. They are "the powers that be".
Payments to contractors, Medicare, SSI, and federal retirement recipients, etc, can all be delayed. They are the peasants.
Well, it would certainly take a while for all those factories to re-open here. It would be painful for those 3-5 years but not the end of the world.
You would also have to roll back ALL the stupid EPA etc regulations. Otherwise no factories would open PERIOD.
The only thing keeping the value of the dollar of going in to free fall is "trust", which means paying the debt.
If my electric bill must be paid in dollars, there will be some demand for dollars.
It's not about the demand, it's about how much each dollar is worth. The dollar isn't tied to anything that has an actual worth. It only has worth because the Federal Reserve says it has worth. There's several things that determine that worth in the eyes of the rest of the world, and one of those things is the ability to pay back debt.
Remember back under Obama when our debt crossed a threshold and the dollar as a currency was downgraded?
https://finance.yahoo.com/news/another-us-downgrade-might-not-be-as-bad-as-it-sounds-193454810.html
Yahoo is downplaying the possibility of it happening again, but it is a thing. It's actually worse than it was back in 2011 because there's several major countries that are getting off the Petro-Dollar. Also, Yahoo downplaying this is how you know it's predominately Biden's fault.
I know, enemies in front of the camers, but cohorts behind the scenes.
As the Dems like to point out, they raised it 2-3 times when Pelosi was Speaker and Trump was POTUS.
The dems think the debt limit is equivalent to infinity.
Well it legitimately is - until it’s not. Nobody really understands modern economics. But the point is that debt and value don’t really matter, just growth. The problem is that growth can’t really always accelerate.
Obviously that’s an oversimplification but my point is that we are far past the times of manageable debt and value economics. Things are much different now and it’s sort of unexplored territory, practically speaking
Dude it’s really a simple balance sheet. Not hard to understand at all.
Debt doesn’t matter when you control the currency. The balance sheet is irrelevant
You sound like a fractional reserve banker and a supporter of fiat currency dude. Also your username supports your thinking.
Nope just a student of economics. Just observations. Doesn’t matter what I support because this is the world we live in now
I hate to be the bearer of bad news. But the only time the R's a fiscal conservatives is when they are not in power. When they are running the show- they spend like drunken sailors. By the time Trump entered office we'd run up $15 trillion in debt since 1776. By the time he left office, the federal debt was over $22 trillion. That's about a 50% increase.
So a little bit of introspection is in order here. There are ways to lower the debt. Holding our credit rating hostage (by people who themselves have shown no fiscal restraint) is not the way forward in my opinion.
Most of that increase was from Obama's failed policies like obamacare and the debt we racked up during covid.
COVID was their scam. Without that the debt would've come down and Trump would still be in office. No bullshit Ukraine war either.
They can fucking pay for it
Democrats want to spend money. They're in charge of the money. They give themselves more money. Democrats are in charge of the executive that wants more money to spend, Republicans in the legislative don't want to give it to them. In both situations both groups are acting in the same manner.
Neo-cons want to spend more money. One could argue that all republicans want to spend more money in practice, while arguing otherwise in principle. Which is probably the truth, but one always hopes there's now enough principled members that want to be responsible.
I think this may be your point anyways.
Then why do Republicans want cuts now all of the sudden? It makes no sense.
Say you want cuts and actually putting cuts is one thing. All smoke and mirrors my friend. Just keep voting Reps. See where that gets you. MAGA only no grifters either like brobert and MTG
Their "brand" is cutting spending and lowering the taxes of their wealthy patrons and corporations. Thereby either cutting services, or shifting the tax burden non to the middle class. Or both.
Note there was no GOP platform (for the first time ever) coming out of the 2020 convention. When Cocaine Mitch was asked what the Republicans stand for he said he'd let the voters know once they'd regained the majority. The Republicans only want to wield power. They have no interest in governing. It is no accident that they ran on and won with immigration as the #1 issue in 2016. Yet when they had 2 years of control over the WH and both houses of Congress- they didn't even draft an immigration bill. Not that they didn't pass one. They didn't even fucking try to write one. That's because it was their biggest fundraiser and vote getter. It serves their needs best as a rally point. There is no incentive to actually fix it.
Look what happened with abortion. That was the #1 issue for decades. Now they're like the dog that caught the car. None of them want to talk about it. Not one of them is out there saying "Look what we did, we ended abortion". And that's because in many Red states and districts, that gets you murdered at the polls. And it animates Blue voters- the Red ones are all happy to take the W and stay home.
The House alone has control over the debt ceiling. If we default, the blame will fall squarely on the Republicans shoulders. As it should. There is no unilateral measure that the Dems or the Executive branch can take at this point. And a default will fuck everything. Massive unemployment, huge interest rate spikes, recession- a perfect storm of economic catastrophe. It's so fucking reckless I can hardly begin to describe it.
Plus they didn't even do anything on abortion. The Supreme Court simply reversed a previous incorrect ruling/interpretation.
Fuck Joe Biden, and Fox News too.
Trump's fault!
Polls, LOL!
Like that stripper that Hunter had a kid wtih and won't pay his child support for?
Those kinda polls????
Look on the bright side, if we default, then no more lending to buy houses and then we have a house crash for Millennials & Gen-Z to buy homes at affordable prices.
Whats affordable? Commies complained about living wage and got $14+ dollars an hour now with inflation they are worse off.
I see plenty of "People who can't afford houses" with brand new i phone Xxi $1k+ car payment and blowing hundreds of dollars a week on chicken tendies with all the dippy sauces.
Its about priorities.
Hahahahahahagagagagaga
Kiss that idea goodbye, Smalls.
Doesn't matter what Gen you are its about priorities. Anyone with the drive and desire can buy a house. Better question is how can certain people afford to rent, have car, and cell phone payments, while eating fast food 5times a week
Younger generations cant afford houses because they cant fix houses. So sad.
Hurrah hurricanes lol
For all his faults, McCarthy got something passed last month
Biden's fucking around in Camp David before heading to Delaware
Meanwhile, the regime is parroting a talking point about the budget deficits of the Trump administration without context. The pandemic spending was going to happen regardless of who was in charge.
Especially when most of the ones pointing the finger at Trump were in on it from the start.
Its clearly Biden’s fault. He can print a few $trillion dollar coins tomorrow if he wanted to…
They just need their marching orders from CNN or MSDNC before they blame Trump
BUTt Butt buTt Its All DRuMphS fAuLT
Proven: After a massive fixed election (2020) is over and the puppet is elected, there is no way that we can get out of a criminal and corrupt fake administration until the next 4 years to the next election.
What Obiden has done each and every day to destroy America, there is no recourse for another 4 years. To me, he and his cult have created high Treason and should be taken out immediately. Though to date, nothing has been done.
It has been 2 1/2 years. Questions and evidence has been produced. If they did a hand count of ballots from day one across the nation, this would definitely prove that there was election fraud in every county and state. This could have been completed within a month or so. The deep state knows this so they delay, delay, delay and use their corrupt judges to dismiss each and every case brought in front of them.
"More."
Odd wording. Still won't click.
Agree. Most or all makes more sense.
Yawn, default by inflation is guaranteed anyways.
Only those who don't pay attention. Everyone else knows that Biden decides nothing and it's his evil leftist handlers who are destroying our country.
Yup, can't decide anything when you're dead and being played by actors and literal puppets.
So many polls all the time, yet I've never participated in a single one because I've never been asked. Makes me wonder where all of these polls come from.
'aT lEaSt He Is NoT dRuMpF' - twitter/reddit/media
swallows an entire rotisserie chicken
...13 percent said the debt limit should not be increased and the U.S. should default on its debt.
#FuckingBasedAF
Most Americans know all Biden's defaults.
The minute you say screw somebody, your team cozies up to them. Weird. Who we supposed to hate now? Fox or CNN. Not really asking
Don't worry, McCarthy will have his back.
People will blame whoever their side tells them to blame. Liberals will blame "MAGA Republicans" and conservatives will blame Biden.
That is good news for us, it means that having a backbone on this situation will result in our advantage. Previous Debt crisis have been “Victory In” and “Victory Out” for democrats. Since hitting the debt ceiling allowed them to campaign on the evil republicans preventing money from going to grandmother. A failure to negotiate being more likely to be blamed on Biden by people allows us to get what we want and if they refuse, they have to take blame.
This will motivate the GOP to get a deal done.
Lol
If we hit the debt ceiling, the gubbmint has to living "pay check to pay check", not pay check plus 30% overspending using another credit card.
There will be fierce competition for the incoming cash flow. Every govt agency (except parks and rec) will claim to be essential.
Then the plan worked. He’s the fall guy for the puppet masters.
Not Trump?!
Blame blame blame. We’re experts at that.
We all on this site know that but the fake media will blame the republicans all of this . The normies with believe them.
Do it.
Nah, we'll blame the faggots behind the biden curtain. Biden is a vegetable.
Freeze the current budget. No increases at all, even for inflation. Keep it this way for as many years as it takes to pay off the entire national debt.
Most Americans are too dumb to even know what the debt ceiling is, let alone care.
Living with Dems is like having a high maintenance wife who loves her credit cards.
Sooner or later you realize that the only options are to live with it or take away the cards, divorce or shoot her.
Don’t see how we can take away DCs credit cards or divorce them so…..
Just default. They’ll just keep printing more money anyways. This fight is always just for show.