Republicans and the debt ceiling
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Anonymous
Biden should counter with DoD cuts and tax increases, but DoD's budget is sacrosanct for some reason |
Anonymous
We have obligations other than debt service, professor. |
Anonymous
And Republicans protested vigorously during the State of the Union that Social Security and Medicare were off the table. So, without debt service, defense spending, Social Security, Medicare, or tax increases; there aren't a lot of viable, tolerable options. |
Anonymous
| Gotta put millions of people out of work, to pad the pockets of some fat cats, it’s the GOP way. |
Anonymous
Bush Admin & Republican Congress also didn’t even try pay for or offset the costa of the wars in Iraq and Afghanistan and they added the Medicare Part D drug benefits and Tricare for Life for military retirees with no funding mechanism for either. Blue Dog Democrats always forced the Democrats to pay as you go and offset new programs with taxes, cuts, and cost containment measures. What blew up the debt was replacing Blue Dogs in the House with rubber-stamp Republicans. Affordable Care Act had pay-fors and controls but when Republicans got back in power they couldn’t kill the benefits but they killed the taxes and cost controls. |
Anonymous
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GOP needs to give Biden a nice dose of inflation that he wants. Then the FED will keep raising rates and destroy the economy or stop raising rates and unleash massive inflation.
Everybody will hate Biden and it will be great. |
Anonymous
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National debt is $95K per person for every person in the country. It's $250K per tax payer.
What's the plan? https://www.usdebtclock.org |
Anonymous
Do you know how much faster it will accumulate if we default and lose our bond rating? |
Anonymous
Default is not on the table. The current brinksmanship is over not borrowing more money. |
Anonymous
ACA did not have cost controls. It had a whole bunch of gimmicks, like doing a ten year cost with payouts starting 4 years later. 10 years of revenues with 6 years of payouts is very useful for a budget score, but not so helpful in the 2020s. Then they assumed the lower costs of Medicare cuts to hospital payments that passed in the late 90s, that has been cancelled every single year. There's another hundreds of billions of dollars. The other cost controls were ignored, with Democrats clamoring for Congress to fund the insurance companies even though this part was supposed to be self-funding with the taxes on insurance company profits. |
Anonymous
Good lord you still don’t get it. |
Anonymous
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What happens if the debt ceiling is not raised?
Revenues are still coming in. Debts will be paid, and spending priorities will have to be made over the rest. |
Anonymous
Please. Go on. Explain exactly what spending priorities need to be cut to make up the forced shortfall. And the. Explain what happens to the economy. Jesus Christ the nihilism. It’s too much. |
Anonymous
That would be illegal. There’s no legal authority to cut off granny’s social security while paying bond holders. And there won’t be enough cash anyway. The fed revenues don’t come in evenly. They come in big chunks at each quarter. They just got one and are now spending it all down. It will be gone in early June. This has been explained so many times that I’m thinking you just don’t want to understand. |
Anonymous
| Can the trillion dollar coin come back? I've always wanted to see that happen. |