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Utopia Talk / Politics / trump $1 trillion defeict.
Im better then you
2012 UP Football Champ
Wed Jan 29 01:22:53
SUPRISE!!
The man that declared bankruptcy 6 times can't run a budget.

http://www...icit-one-trillion-trump-107901
jergul
large member
Wed Jan 29 01:35:46
http://www...leases/z1/20191212/html/d3.htm

patom
Member
Wed Jan 29 05:08:40
By the time it reaches critical debt Emperor/God Trump will just tell the debt collectors to sue us.
jergul
large member
Wed Jan 29 05:23:57
patom
How would you then get the 1 trillion you need each year?
Average Ameriacn
Member
Wed Jan 29 06:24:29
Obama underfunded the military, we have to correct that for the next few years. After that we will make a big surplus with all the oil from Syria, Iraq and Iran.
patom
Member
Wed Jan 29 06:44:32
When Obama left office we had a larger military force than the next 10 nations combined. We still have that under Trump.

jergul, the first thing I would do is eliminate tax write offs for advertising any products manufactured outside the USA.

The second would be to roll back the tax breaks that Trump and company pushed through. We are currently deep in debt due in large part to the Reagan, Bush, Trump tax cuts. While pissing good money after bad on mini wars all around the globe.

It took 15 years to pay down the debts incurred during WWII and Korea. But back then we used to worry about paying down our debts.

Habebe
Member
Wed Jan 29 07:21:33
Yeah , I dont get how people keep claiming that tax reduction and increased spending brings in more money...like it was one thing when taxes were crazy high...but at some poimt we need to pay that 22 trillion.
jergul
large member
Wed Jan 29 07:28:51
You cannot even stop having deficit spending. 1 trillion off consumption would implode your stock markets and economy.
CrownRoyal
Member
Wed Jan 29 07:43:24

http://www...d-as-recklessly-as-republicans
Rugian
Member
Wed Jan 29 07:56:16
^given that Bloomberg News is a mouthpiece for one of the current Democratic presidential candidates, I put no stock in its objectivity.

But yes, Paul Ryan did expose himself as a massive hypocrite and liar when he went in that drunken spending orgy in theft Congress. I get that he might have stopped giving a shit after he decided to step down, but his legacy as a policy wonk has been permanently destroyed by that recklessness.
CrownRoyal
Member
Wed Jan 29 08:09:48
" I put no stock in its objectivity."

Yearly federal budget deficit numbers is public info. Same with who was president and who controlled congress. You can get them from other sources, you are a good enough googler, I am positive
Rugian
Member
Wed Jan 29 08:12:13
CR -

Numbers are objective. The framing devices used to put those numbers in context seldom are.
hood
Member
Wed Jan 29 08:20:08
Doesn't need to be objective to be accurate.
CrownRoyal
Member
Wed Jan 29 08:20:21
Yes, do not fall for framing devices, just look at the numbers, it is good that you are trying to be careful.
CrownRoyal
Member
Wed Jan 29 08:33:19
You have to first win in politics, to push any kind of agenda. Modern GOP realized it a long time ago, Dems always seem kind of lost, having these useless principles. Who cares about principles, if you can't win? Total fucking shamelessness, on every issue, hardcore hypocrisy, speweing totally opposite talking points with straight face, depending on whether you are in power, thats what you have to do to win. And then you can push important policy changes, I mean whatever is really important to you.
jergul
large member
Wed Jan 29 08:37:43
CR
Useful principles like having now principles is a different matter.

Nice last line in that article of yours.
patom
Member
Wed Jan 29 09:19:27
jergul "You cannot even stop having deficit spending. 1 trillion off consumption would implode your stock markets and economy."

You cannot continue to spend more than you take in forever either. At some point the note is going to be called in.
jergul
large member
Wed Jan 29 10:49:13
Patom
Well, then the US treasury can buy them (US debt is recycled all the time). Problem solved!
Hrothgar
Member
Sat Feb 01 05:23:50
Depending on the day I find this hilarious/enraging. Thinking of all the MAGA fans going ape shit about the deficit under Obama and certainly that will again the next time a Democrat is elected - that are sitting idly by perfectly content to bankrupt the nation as long as the president who does it is the one they voted for.
Habebe
Member
Sat Feb 01 06:18:23
Mortgage, Thats true with almost anything for either side....its only wrong when the other guy does it.
Habebe
Member
Sat Feb 01 06:19:31
Hrothgar...not sure how my autocorrect thought I meant mortgage?!
patom
Member
Sat Feb 01 08:29:08
jergul, "Well, then the US treasury can buy them (US debt is recycled all the time). Problem solved!"

You actually have to have the money to buy them. The only way to get that money is to raise taxes. I would suggest eliminating some of the tax loopholes but that's a non starter with Republicans.
jergul
large member
Sat Feb 01 08:39:05
Patom
Yah, that was me misspeaking. I meant the Federal Reserve.

The Federal Reserve can buy debt from the US treasury. The Federal Reserve can literally make money to do that.
Daemon
Member
Sat Feb 01 08:42:46
Different countries, different problems:
http://www...d-budget-surplus-idUSKBN1ZC1ZC
January 13, 2020
Chancellor Angela Merkel’s ruling coalition is at odds over how to spend a record budget surplus
patom
Member
Sat Feb 01 08:58:32
jergul, that's sort of like a Ponzi scheme. At some point the taxes will have to bring in enough to back up what they are printing.

They can print a lot of money but then you are heading toward hyper inflation.

It would have been nice to see Bush 43 continue with the Clinton economic policies. We were seeing a pretty go picture. But then 43 got in and put through a tax cut and at the same time put us into a war.
Habebe
Member
Sat Feb 01 12:30:20
The idea of the Obama coin was tossed around to knock out $1 trillion in debt. They literally would have printed one Obama coin walked it from the mint and deposit it into the Treasury ands buy a a trillion in debt.

Patom, Clinton also had help from the internet bubble...but yes the war and the tax cuts didnt work well together.
Habebe
Member
Sat Feb 01 12:31:54
The idea of the Obama coin was tossed around to knock out $1 trillion in debt. They literally would have printed one Obama coin walked it from the mint and deposit it into the Treasury ands buy a a trillion in debt.

Patom, Clinton also had help from the internet bubble...but yes the war and the tax cuts didnt work well together.

Also Clinton did makebthe effort for a balanced budget though.
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