Is 1.5 less than 10?

Politics and religion: two polarizing topics that deserve their own little place
ToledoCat#2
Posts: 1377
Joined: December 2nd, 2017, 9:53 am
Has liked: 0
Been liked: 8 times

Is 1.5 less than 10?

Post by ToledoCat#2 » December 6th, 2017, 1:22 pm

Seems the DeLPS can't tell the difference. The CBO says the national debt will rise 1.5 trillion with the passage of the new tax bill. The DeLPS are raising holy hell about Rep-Cons raising the national debt. However, those same DeLPS were zip-lipped while their O-Savior let the national debt rise by 10-trillion during his regal reign. Talk about hypocritical.

My view on the national debt is that it's impossible to pay off 20/21 trillion dollars under any fiscal/economic conditions.
History tells us that such a monumental debt eventually will be either repudiated or, more likely, inflated out of existence by the printing of worthless money. Neither scenario is rosy for the U.S.

kstatewildcat98
Posts: 2941
Joined: September 10th, 2013, 6:45 pm
Has liked: 0
Been liked: 0

Re: Is 1.5 less than 10?

Post by kstatewildcat98 » December 6th, 2017, 2:28 pm

Did you know that there was a financial crisis in 2008? It shattered the financial sector and caused a huge recession which greatly reduced federal tax revenue. In addition there were increases in spending for programs such a TARP and others (enacted before Obama took office) meant to ease the crisis. All this caused huge increases in the national debt before it was all through. Blaming that on Obama is pretty inventive.
MAGA = Many Are Getting Arrested

katlander
Posts: 2300
Joined: June 3rd, 2015, 12:44 pm
Has liked: 1 time
Been liked: 25 times

Re: Is 1.5 less than 10?

Post by katlander » December 6th, 2017, 2:32 pm

Donald Trump made comments about defaulting on a portion of the national debt during the campaign which I am against but we may have no choice. I think his real plan is for our economy to grow its way out of the debt. With reasonable inflation, true growth, a certain amount of bracket creep, reduction of handouts and across the board budget cuts we may still have a chance to climb out of debt the right way. But with Democratic obstructionism and a congress largely concerned about being re-elected and lining their own pockets it appears unlikely. Term limits may give us a chance. But as long as such a large percentage of our population is economically ignorant we have little chance. Many cannot manage their own checkbook or are disciplined enough to avoid the stupidity of credit card debt. And, oh, Merry Christmas. Ho, Ho, Ho.

kstatewildcat98
Posts: 2941
Joined: September 10th, 2013, 6:45 pm
Has liked: 0
Been liked: 0

Re: Is 1.5 less than 10?

Post by kstatewildcat98 » December 6th, 2017, 3:22 pm

katlander wrote:Donald Trump made comments about defaulting on a portion of the national debt during the campaign which I am against but we may have no choice. I think his real plan is for our economy to grow its way out of the debt. With reasonable inflation, true growth, a certain amount of bracket creep, reduction of handouts and across the board budget cuts we may still have a chance to climb out of debt the right way. But with Democratic obstructionism and a congress largely concerned about being re-elected and lining their own pockets it appears unlikely. Term limits may give us a chance. But as long as such a large percentage of our population is economically ignorant we have little chance. Many cannot manage their own checkbook or are disciplined enough to avoid the stupidity of credit card debt. And, oh, Merry Christmas. Ho, Ho, Ho.
Trump doesn't have a plan, he just says stuff. Defaulting on our national debt would be insanely stupid fiscal policy. It would result in us losing our credit rating, resulting in it costing more to borrow, which would end up increasing the national debt even more. Also there is the fact that most of the national debt is owned to Americans. It is their retirement funds, college funds, etc.
MAGA = Many Are Getting Arrested

ToledoCat#2
Posts: 1377
Joined: December 2nd, 2017, 9:53 am
Has liked: 0
Been liked: 8 times

Re: Is 1.5 less than 10?

Post by ToledoCat#2 » December 6th, 2017, 5:03 pm

With the national debt standing four to five times the current U.S. GDP, I just don't see a way to pay our way out of it. However, just making an attempt to pay it down via a robust economy might make a difference or at least delay the day of reckoning.

And, anyone who thinks the Bush Administration was solely responsible for the 2008 crash is wrong. Both parties build the circumstances that lead to that crash. Neither the repcons of the delps can be absolved of that. A pox on both.

User avatar
WIldWIllieCat
Posts: 10507
Joined: September 7th, 2013, 7:30 am
Has liked: 1 time
Been liked: 23 times

Re: Is 1.5 less than 10?

Post by WIldWIllieCat » December 6th, 2017, 5:06 pm

It's difficult to talk about this topic when it's readily apparent that so many confuse debt and deficit, and are willing to accept "this" debt/deficit as good while rejecting "that" debt/deficit as bad. Compound that with absence or manipulation of historical context(again), and partytardery ensues.
I know words. I have the best words.

ToledoCat#2
Posts: 1377
Joined: December 2nd, 2017, 9:53 am
Has liked: 0
Been liked: 8 times

Re: Is 1.5 less than 10?

Post by ToledoCat#2 » December 6th, 2017, 7:25 pm

Legally, the national debt draws interest to the lender and will supposedly someday be paid off. Compounding unpaid interest will eventually send the national debt toward infinity.

Deficit means simply spending more than you take in.

NealyFan
Posts: 1310
Joined: September 26th, 2017, 9:18 am
Has liked: 3 times
Been liked: 10 times

Re: Is 1.5 less than 10?

Post by NealyFan » December 6th, 2017, 9:04 pm

No. Deficit is a yearly accounting of debt. Debt is the accumulation of yearly deficits.

You undertsand that the stock market is the monetization of debt and profit?

ChemicalKat
Posts: 1255
Joined: September 11th, 2017, 9:18 am
Has liked: 1 time
Been liked: 4 times

Re: Is 1.5 less than 10?

Post by ChemicalKat » December 7th, 2017, 6:28 am

katlander wrote:Donald Trump made comments about defaulting on a portion of the national debt during the campaign which I am against but we may have no choice. I think his real plan is for our economy to grow its way out of the debt. With reasonable inflation, true growth, a certain amount of bracket creep, reduction of handouts and across the board budget cuts we may still have a chance to climb out of debt the right way. But with Democratic obstructionism and a congress largely concerned about being re-elected and lining their own pockets it appears unlikely. Term limits may give us a chance. But as long as such a large percentage of our population is economically ignorant we have little chance. Many cannot manage their own checkbook or are disciplined enough to avoid the stupidity of credit card debt. And, oh, Merry Christmas. Ho, Ho, Ho.
Anyone who even considers defaulting on treasury debt should have no place in determining any public policy. When Trump said that we don't actually have to pay off our debt, he should have been immediately disqualified from the conservative vote. Unfortunately, conservatives care more about winning beating democrats than they do about protecting national interests.

Defaulting on the national debt would be the worst possible thing that could happen to the US and world economy. All stocks, bonds, loans, derivatives, CD's, and interest rates are valued using a risk free rate which is the 3 month treasury bill. If that rate is no longer risk free, then the whole thing collapses and the US will permanently lose it's status as the worlds currency and market driver.

spot2180
Posts: 1619
Joined: November 12th, 2017, 10:32 am
Has liked: 5 times
Been liked: 3 times

Re: Is 1.5 less than 10?

Post by spot2180 » December 7th, 2017, 8:46 am

Pretty funny how all of the sudden the defict is a concern of democrats. I didn't like it with Obama, and I won't like it with Trump. If one is truly upset by it, political party should have nothing to do with it, but let's just admit, lefites, the guy creating the debt is what you are really upset about.
Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery. --Winston Churchill

Post Reply