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Post by One Man Gang on Aug 6, 2023 9:04:52 GMT -5
I don't think so. You're only partially correct.
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Post by Tarponator on Aug 6, 2023 12:27:34 GMT -5
"I take no responsibility at all."
-Donald Trump
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Post by biminitwisted on Aug 6, 2023 13:21:10 GMT -5
I seem to recall Tee-rump trying to buck the establishment by fighting to keep shutdowns at bay. The outrage from within the establishment, and particularly from the Globohomofascists here and the other forum, for Trumps refusal to shutdown and shutter up the country was a real thing.
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Post by bottom feeder on Aug 6, 2023 16:10:04 GMT -5
Excessive government spending for the last year and a half is what caused inflation. Excessive government spending has been occurring for decades.
Hence the downgrade from Fitch. Which is only going to lead to more erosion of the economy. Doesn't make any difference who spent it, it just needs to stop. Biden just keeps spending more.
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Post by cadman on Aug 6, 2023 16:42:59 GMT -5
S&P downgraded the U.S. back in 2011 and it didn't affect us too much, I doubt Fitch makes a difference.
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Post by Tarponator on Aug 7, 2023 18:02:01 GMT -5
Excessive government spending has been occurring for decades.
Hence the downgrade from Fitch. Which is only going to lead to more erosion of the economy. Doesn't make any difference who spent it, it just needs to stop. Biden just keeps spending more. Your use of the word "only" is noted. Perhaps we'll come back to that.
In the meantime, please remind us which part of government controls spending.
With my rhetorical request now asked, I could not agree more -- deficit spending does need to stop.
However, I would prefer to be rational about the conversation.
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Post by whitebacon on Aug 8, 2023 4:22:11 GMT -5
Hence the downgrade from Fitch. Which is only going to lead to more erosion of the economy. Doesn't make any difference who spent it, it just needs to stop. Biden just keeps spending more. Your use of the word "only" is noted. Perhaps we'll come back to that.
In the meantime, please remind us which part of government controls spending.
With my rhetorical request now asked, I could not agree more -- deficit spending does need to stop.
However, I would prefer to be rational about the conversation.
I will try to be rational. My civics recall is not on point, but I think the House introduces spending bills. POS signs them.
There is no way to turn the bus around. If you take in less than you spend, it is ultimately unsustainable. When that occurs, none of us know.
The interest on the debt I'm guessing is north of $600 billion..the interest...
Tarp, you and I are both conservative about fiscal issues. The debt and deficit aren't sustainable long term.
Put me in charge up there for a week.
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Post by cadman on Aug 8, 2023 8:20:48 GMT -5
The actual dollar figure of the debt is meaningless, it is the percent of GDP that is the issue and it is high. Debt jumped to 126% in 2020 and then a high of 132% in 2021. It is 123% right now. Give it a few \years to fall below 100% and nobody will care anymore about the debt.
I will agree that spending is out of control, and revenue is too low. Both are an issue. Social security needs a tax increase and other fixes, Congress needs to stop giving tax cuts if they aren't willing to cut spending to match it. If Congress passes a spending plan, they need to pass revenue increases to support it or don't pass the bill.
There is a solution, but it won't make them heroes back home. Everyone wants all the money spent, just some want it spent on defense, and others on social programs. But nobody wants to pay for it.
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Post by luapnor on Aug 8, 2023 11:13:02 GMT -5
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Post by cadman on Aug 8, 2023 13:05:34 GMT -5
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Post by bottom feeder on Aug 9, 2023 11:58:46 GMT -5
So the credit card debt crossed the 1 trillion mark with an average interest rate of 20%. Those folks are really enjoying bidenomics. There were also 5.48 million new cards issued which could be more consumers with new debt. Total limits on cards rose by 9 billion to a total of 4.6 trillion so hey they have a ways to go before they are maxed out.
Fiscal responsibility is slipping both by the consumer and the government.
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Post by bottom feeder on Aug 9, 2023 12:11:24 GMT -5
Well guess what? If you have to work three jobs to make ends meet you are going to have to pay more taxes. Inflation and higher interest is hurting a lot of people.
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Post by biminitwisted on Aug 9, 2023 12:30:42 GMT -5
Well guess what? If you have to work three jobs to make ends meet you are going to have to pay more taxes. Inflation and higher interest is hurting a lot of people. Biden got the IRA passed which spelled out his plan in black and white for all to read, and then was implemented into law. I'm still waiting on a copy of the GOP plan. Maybe someone can post it? I suppose it's coming in two weeks.
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Post by bottom feeder on Aug 9, 2023 13:02:34 GMT -5
The inflation reduction act is making inflation worse. Rising interest rates are stifling the economy.
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Post by biminitwisted on Aug 9, 2023 13:08:52 GMT -5
The inflation reduction act is making inflation worse. Rising interest rates are stifling the economy. So where's the alternative plan?
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