U.S. debt surpases 25 trillion

Shonyman32 · May 10, 2020

superbadbrutha said: ↑

Yep and quiet as hell.
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Some were audited out of existence. Some only disliked a democrat doing the spending and some are still for fiscal responsibility. Being a tea party supported made you a bad person at one time for some reason. Never really got into the phase. Just wish democrats and Republicans stopped spending so damn much.

Robert E Allen · May 10, 2020

Same Issues said: ↑

I agree, not only is it sane, its logical. BUT>>

1) As I already stated, most of the top guys don't see it as a problem until it is one. We have not seen major downsides yet and most common people have been hollering every trillion that has added. Could have collapsed at 15 trillion, hitting 25 trillion and there is no indication how high it can go. At this point they have no reason not to add to the national debt as crazy as it sounds. No household or citizen would operate in that manner and expect good things to happen in the long term.
2) To pay off such a large amount would take time, its more than the entire countries GDP so it would have to be a long term possibly decades long strategy. I think we could only hope to chip away some of it over a few years, and that is hoping for no natural disaster, pestilence, famine, depression/recession or war to throw it off track. Being a two party system would also be a hindrance for a long term plan like that, most of the time a party only has 8 years at the most then the other guy will have to fiddle with the budget. It could be campaigned that the party paying off the debt would be hindering growth ect.
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I totally agree. And I'm of course talking about what we should do not what will happen.

I think we are however seeing some downsides, dependence upon China.

The federal government is living way beyond it's means.. aka. It's providing way too many benefits to way too many people.. yes that includes large corporations..

Robert E Allen · May 10, 2020

Shonyman32 said: ↑

Some were audited out of existence. Some only disliked a democrat doing the spending and some are still for fiscal responsibility. Being a tea party supported made you a bad person at one time for some reason. Never really got into the phase. Just wish democrats and Republicans stopped spending so damn much.
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Yes overspending is a bipartisan problem .

Democrats use spending to get votes and Republicans avoid cutting taxes to keep the votes they have..
We are stupid and very clearly only vote for people who'll give us free stuff. At least thats what politicians think. Ehhh probably true.

kazenatsu · May 10, 2020

Paul7 said: ↑

The Constitution requires the government to coin gold and silver money.
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I don't think it actually requires them to use gold and silver for the money. That part is open to some interpretation.

Shonyman32 · May 10, 2020

Robert E Allen said: ↑

Yes overspending is a bipartisan problem .

Democrats use spending to get votes and Republicans avoid cutting taxes to keep the votes they have..
We are stupid and very clearly only vote for people who'll give us free stuff. At least thats what politicians think. Ehhh probably true.
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Currently the democrats strategy is orange man bad and free stuff. Free stuff creates bad mojo. Now we have a republican producing the largest quarterly deficit by a large margin.

Bluesguy · May 10, 2020

Canell said: ↑

Yeah, how do you pay off 25 000 billions, let alone 100 000 billions dollars of debt?
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Grow the economy faster than you grow the government..................fiscal conservative policies.

jcarlilesiu · May 10, 2020

superbadbrutha said: ↑

Where are all the Tea party folks who whined and cried about the deficit for 8yrs while Pres. Obama was in office. We had to listen to Sean Hannity whine and cry about his children and grand children and great grand children were going to have to pay for decades. Trump hits the scene and has been running it through the roof and not a peep out of any of these folks.
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See that tiny little sliver on the end. That's trump.

Your comments are just silly.

https://www.newsbreak.com/news/0KtJJG5a/us-national-debt-tops-22-trillion

HB Surfer · May 10, 2020

Sleep Monster said: ↑

Stimulus. Money to spend generates taxes which bring deficits down. Andrew Yang was right about how that works. Here's a simplified story of how a stimulus works:

A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night.

As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher.

The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.

The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Co-op.

The guy at the Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit.

The hooker rushes to the hotel and pays off her room bill with the hotel owner.

The hotel proprietor then places the $100 back on the counter so the traveler will not suspect anything.

At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves.

No one produced anything. No one earned anything……. However, the whole town is now out of debt and now looks to the future with a lot more optimism.

*And that, ladies and gentlemen, is how a Stimulus package works*
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Oh yeah... we can print all the money we want. What could go wrong?

scarlet witch · May 11, 2020

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U.S. debt surpases 25 trillion

Shonyman32 Well-Known Member

Robert E Allen Banned

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kazenatsu Well-Known Member Past Donor

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U.S. debt surpases 25 trillion

Shonyman32 Well-Known Member

Robert E Allen Banned

Robert E Allen Banned

kazenatsu Well-Known Member Past Donor

Shonyman32 Well-Known Member

Bluesguy Well-Known Member Donor

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