Biden declares himself 'blameless' if US defaults on debt: 'I've done my part'

Feelings......nothing more than feelings....

 

I found out long ago that many people refuse to accept anything that conflicts with what they already think they know, and there's nothing you can do to change that. So you let them fail and fail again, until desperation convinces them they might have been wrong, and they begin to learn.
Despite all the maneuvers and manipulations, no matter how much smoke they blow up your skirt or how much of it you buy, the bottom lines of financial management remain the same.

 

That's basically true- but it's not your credit card, it's sugar daddy's. And when he's had enough of you, he shuts it off. He has to do that because, despite his advice and warnings, you aren't going to stop running up his bills until it's no longer possible. That doesn't have to be permanent- but the shock has to be powerful enough to change your attitude. That's the government side.

When you are the fool that has funded all that excess, you need to feel that shock too. You can wait until it's too late and you are bankrupt because of it, or you can take a hit and come to your senses. That's the public side. Unfortunately, the public needs a wake up call, and needs to know that there actually are consequences to endlessly putting future generations in debt- and that they make come a lot sooner than they think. Budgeting IS understanding that you don't spend money you don't have. Any jackass can spend money- if you are stupid enough to give them blank checks.

Somebody in the chain of the revenue stream has to say no. The fact you have already ordered your Ferrari doesn't prevent me from putting a stop-payment on the check when you ignored the set limits.
If Congress can't restrain itself, then it has no business controlling the purse strings.

 

I don't think you are so dumb that you don't understand, and it doesn't speak well for you to pretend that.

Take the wall. Trump fought tooth and nail to get the wall up and border policies effective, and the dems blocked it.
Look at the mess we have now, and tell us what a great job Biden and the dems have done on the border.

That's an intelligence question. If you come back thinking the border is now better and there are no border problems, I'll revise my appraisal of your intelligence.

 

And you have no trouble destroying the country’s credit rating and triggering an economic meltdown as long as you can blame Biden.

Hurt America a lot, as long as you can hurt Biden a little. Very patriotic.

 

What's the border wall got to do with the deficit? Inquiring minds would like to know. It is instructive, however, that you can't come up with a better example of how the Dems blocked Trump's supposed deficit cutting measures. Could it be that those deficit cutting measures didn't exist and that the self-proclaimed king of debt was only too happy to put his name on the covid relief checks, to create the impression that the government money came form him?

 

America is hurt by the financial failure and incompetence- not by the recognition of it or the realization that it must be stopped.

What you imply is no different than criminals blaming their imprisonment on the cop who arrested them instead of the crime they committed. If that cop had just turned a blind eye, everything would be fine.
The precedent set every time a budget is overspent and every time a credit limit is raised for convenience- wipes out the very purpose of both. And, it's your money they are spending.
Obviously, you have unlimited funds to pay their bills?

There is no easy way out here. in a few more years- just the interest on the debt will eat 20% of the total taxes taken in. Every time the debt is allowed to grow, that number rises- and the government hasn't paid a dime on the principal of that debt for more than 20 years. The desperation to just keep ahead of the tiger here is unending. Why do you think Biden wants to hire 87,000 new IRS Agents?
Would you ever draw the line?

 

You don't connect spending money with the budget, obviously. Pretty much disqualifies your opinions.

 

I don't remember Pelosi's Congress spending money on Republican policies. Why do you think she did that? Can you name one of these policies that Nancy was so generous with? Since she spend $4.2 Trillion on Republican policies, you shouldn't have too much trouble naming some.

 

Fun fact: Trump spent more than Obama. Republicans spend big and drive the deficit and debt up even further by cutting taxes for the wealthy every chance they get, and the wealthy give them heaps of donations for that reason.

 

A Covid pandemic caused Trump to spend more than Obama.

 

That certainly was a part of it. It's also a recurring theme for Republicans, though. It was the same under Bush Jr.

 

Your imagination is impressive.

 

Joe Biden learned nothing from the last time he caused a US debt downgrade.

'In the summer of 2011, an ugly economic event that had never happened in the United States’ history came to pass: The sovereign debt of the United States received an official credit downgrade. Standard & Poor’s cut the debt rating from the crème-de-la-crème AAA rating down to AA+, due to concerns over growing debts and deficits.'

JOE BIDEN'S CREDIT DOWNGRADE

'Who was the vice president when this historic credit downgrade came about? None other than our current president, Joe Biden himself.'

'You would think that stern and unprecedented warning would have been a learning moment. At the time, the U.S. public debt stood at around 95% of GDP and was less than $15 trillion in the aggregate. If the U.S.’s fiscal standing was a concern then, Biden might realize the dire situation the U.S. is in today with public debt sitting at 125% or so of the GDP and rapidly approaching $32 trillion in total.'

'The Biden cabal isn’t in Washington to learn or lead or anything like that, but to raid the Treasury for everything they can.'

10% FOR THE BIG GUY

 

Notice is said “effective tax rate”

 

I support NEITHER.

The republicans dont want to cut spending, they want to cut it when dems are in office because it will hurt the economy, so they can wack them over the head with it in the next election cycle. They had no problem spending their arses off during the Trump administration by spending $6 trillion….

 

From 2017-2019 republicans held both houses and the presidency

 

Yes, I would draw the line. Spending needs to be brought under control. Taxes need to be raised. Anyone who is fiscally responsible knows that the country needs to address both sides of the equation. Control spending AND raise taxes.
The place to do that is with the budget. Not by threatening a financial catastrophe with the debt limit.

 

You're saying the allows the IRS to take 21%, but they let the corporations get by with 3?

If you've ever dealt with the IRS, you wouldn't buy that.

The IRS sees it this way:

How to Calculate the Effective Tax Rate
The effective tax rates for individuals and corporations look like this when they're expressed as formulas:


For an Individual ETR = Total Tax ÷ Taxable Income
For a Corporation ETR = Total Tax ÷ Earnings Before Taxes

 

That would be true- IF the congress actually followd the budget and didn't bust it knowing the debt limit was a rubber band.
Because it is- neither the budget or the debt limit serve to control spending. They only provide the cosmetic impression that they care abut how much of your money they waste.

I disagree that taxes need to be raised- the increases have outrun the decreases.

Think of our economy like a pie, cut in percentages. If the pie gets bigger- the percentage going to taxes gets bigger. But if the percentage for tax is raised- they are eating you pie...
Government should be required to operate on a fixed percentage of the national income, with a special provision for emergencies... with the approval of the people.
You are already paying a wide range of taxes you don't know you are paying, because they are built into what you think is the price of the goods you buy. Government is very good at that and they know you won't catch it. It's like cutting the size of the package so the price can stay the same; hide the change. These are not honest people, and they do not have your best interests at heart.

 

Because the way it’s always been done has worked out so well.

 

Are you still denying Hunter’s laptop?

 

And hopefully will end with Biden’s admin.

 

We can only hope for change.