And Biden's reelection.
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The Debt Limit..
- FakeAndyStuart
- Posts: 495
- Joined: Sun Jul 26, 2015 7:07 pm
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Re: The Debt Limit..
But why would we have to have a default on debt? The feds are going to collect somewhere in the area of 80 billion dollars of revenue in June. That would make an interest payment on the debt with bunches left over. Pay the bills first, then spend what is left.MWmetalhead wrote: ↑Thu May 11, 2023 6:21 amI disagree with that premise. A debt default could have disastrous consequences in terms of the capital markets, and people's 401K balances could tank. I think under such a scenario voters are more likely to blame Congress than the President.Commenting just from a political perspective - IF the Republicans ultimately cave on this issue (which, if past behavior is any indication, that is a likely outcome) and Biden mostly gets his way, the Republican party is finished.
New York and Chicago were all in with respect to their sanctuary status — until they were hit with the challenge of actually providing sanctuary. In other words, typical liberal hypocrisy.
Re: The Debt Limit..
This isn't some lawn care business. Your idea sounds neat from someone who must have no ideas how Government works. But you do.Bryce wrote: ↑Sun May 28, 2023 10:55 amBut why would we have to have a default on debt? The feds are going to collect somewhere in the area of 80 billion dollars of revenue in June. That would make an interest payment on the debt with bunches left over. Pay the bills first, then spend what is left.MWmetalhead wrote: ↑Thu May 11, 2023 6:21 amI disagree with that premise. A debt default could have disastrous consequences in terms of the capital markets, and people's 401K balances could tank. I think under such a scenario voters are more likely to blame Congress than the President.Commenting just from a political perspective - IF the Republicans ultimately cave on this issue (which, if past behavior is any indication, that is a likely outcome) and Biden mostly gets his way, the Republican party is finished.
Using the lawn care model; pay debt, lose your employees, upset your vendors, and stop all work? Genius idea.
This was a stupid idea from a bunch of rookies who seemed attention starved. Now we can ignore them, as a moderate caucus seems to have emerged in the house.
“Blessed are those who are righteous in his name.”
― Matt
Posting Content © 2024 TC Talks Holdings LP.
― Matt
Posting Content © 2024 TC Talks Holdings LP.
Re: The Debt Limit..
That's far from certain.
https://www.realclearpolitics.com/epoll ... -7383.html
Moreover, Biden's approval rating sits at around 42%. His approval/disapproval numbers are a near-carbon-copy of what Trump's looked like before the 2020 election.
Lastly, I won't be shocked if somebody like Newsom throws his hat into the ring.
Re: The Debt Limit..
Capping spending for 2 years without any cuts (when the Republican position going into negotiation was to return to 2022 spending levels, which is hardly a radical position) is not what I'd call moderation. Most Democrats will vote in favor of this deal because, as per usual, they got the better end of it. Ultimately, we continue down the path of massive federal spending and a growing, unsustainable debt.
Re: The Debt Limit..
Debt is a virtual threat.
“Blessed are those who are righteous in his name.”
― Matt
Posting Content © 2024 TC Talks Holdings LP.
― Matt
Posting Content © 2024 TC Talks Holdings LP.
Re: The Debt Limit..
Debt's not a problem as long as you never have to pay the interest on it.
Re: The Debt Limit..
That's why these moss toothed idiots in the Inbred Freedom Caucus need to be squashed.
“Blessed are those who are righteous in his name.”
― Matt
Posting Content © 2024 TC Talks Holdings LP.
― Matt
Posting Content © 2024 TC Talks Holdings LP.
Re: The Debt Limit..
I keep hearing the debt is some giant problem lurking to kill us and we have gone from $4 to $30+ Trillion in 22 years… gee… we are still here.bmw wrote: ↑Sun May 28, 2023 12:48 pmCapping spending for 2 years without any cuts (when the Republican position going into negotiation was to return to 2022 spending levels, which is hardly a radical position) is not what I'd call moderation. Most Democrats will vote in favor of this deal because, as per usual, they got the better end of it. Ultimately, we continue down the path of massive federal spending and a growing, unsustainable debt.
Re: The Debt Limit..
How much of our annual budget just pays for interest on the debt?Rate This wrote: ↑Sun May 28, 2023 4:24 pmI keep hearing the debt is some giant problem lurking to kill us and we have gone from $4 to $30+ Trillion in 22 years… gee… we are still here.bmw wrote: ↑Sun May 28, 2023 12:48 pmCapping spending for 2 years without any cuts (when the Republican position going into negotiation was to return to 2022 spending levels, which is hardly a radical position) is not what I'd call moderation. Most Democrats will vote in favor of this deal because, as per usual, they got the better end of it. Ultimately, we continue down the path of massive federal spending and a growing, unsustainable debt.
Re: The Debt Limit..
Hard to exactly qualify when interest rates so favorable to lenders. In 2021 it was about 8%
“Blessed are those who are righteous in his name.”
― Matt
Posting Content © 2024 TC Talks Holdings LP.
― Matt
Posting Content © 2024 TC Talks Holdings LP.
Re: The Debt Limit..
From what I understand we are currently making larger interest payments then we spend on national defense.km1125 wrote: ↑Sun May 28, 2023 4:27 pmHow much of our annual budget just pays for interest on the debt?Rate This wrote: ↑Sun May 28, 2023 4:24 pmI keep hearing the debt is some giant problem lurking to kill us and we have gone from $4 to $30+ Trillion in 22 years… gee… we are still here.bmw wrote: ↑Sun May 28, 2023 12:48 pmCapping spending for 2 years without any cuts (when the Republican position going into negotiation was to return to 2022 spending levels, which is hardly a radical position) is not what I'd call moderation. Most Democrats will vote in favor of this deal because, as per usual, they got the better end of it. Ultimately, we continue down the path of massive federal spending and a growing, unsustainable debt.
New York and Chicago were all in with respect to their sanctuary status — until they were hit with the challenge of actually providing sanctuary. In other words, typical liberal hypocrisy.
Re: The Debt Limit..
You are incorrect. Here's 2022...Bryce wrote: ↑Sun May 28, 2023 5:58 pmFrom what I understand we are currently making larger interest payments then we spend on national defense.km1125 wrote: ↑Sun May 28, 2023 4:27 pmHow much of our annual budget just pays for interest on the debt?Rate This wrote: ↑Sun May 28, 2023 4:24 pmI keep hearing the debt is some giant problem lurking to kill us and we have gone from $4 to $30+ Trillion in 22 years… gee… we are still here.bmw wrote: ↑Sun May 28, 2023 12:48 pmCapping spending for 2 years without any cuts (when the Republican position going into negotiation was to return to 2022 spending levels, which is hardly a radical position) is not what I'd call moderation. Most Democrats will vote in favor of this deal because, as per usual, they got the better end of it. Ultimately, we continue down the path of massive federal spending and a growing, unsustainable debt.
“Blessed are those who are righteous in his name.”
― Matt
Posting Content © 2024 TC Talks Holdings LP.
― Matt
Posting Content © 2024 TC Talks Holdings LP.
Re: The Debt Limit..
$475 billion a year in debt interest and a $1.4 trillion annual deficit isn't exactly something to brag about.
Re: The Debt Limit..
Well… if you repeatedly cut taxes and never cut spending this is what happens. I’d say this is by design by the folks who are proponents of cutting taxes.