Posted on 04/06/2025 12:08:38 PM PDT by RandFan
@PeterSchiff
Senator @RandPaul is right to vote against the proposed spending bill that includes a $5 trillion increase in the debt ceiling, the largest in history. The Republicans will own the record as the biggest deficit spenders until they lose Congress in 2026 and the Democrats break it
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Thank you for an honest answer and not attacking me or my intentions
Balanced budget with 5 Trillion in new spending, try that at home. You CUT UP THE CREDIT CARDS, and live on income. The US refuses to do this, whether Biden or Pres Trump. Everything else is a magicians feint.
IMO, Trump is on the right track with his tariffs crusade. But he never cared much about the federal deficit. The deficit under Trump 1.0 increased at roughly the rate as it did under Obama. And Trump did not veto a single major spending bill back then.
Yet I have some optimism. Trump 2.0 has shown that he has learned something from his first term. He’s bolder now. So we shall see.
They are acting like this Senate version is THE one. It’s way more than the House.
We will see what the final result is.
What the tariffs MAY take in will be offset somewhat by lower business income taxes due to rising costs of doing businesss, so the net affect of tariffs on the deficit may be zero.
Those responsible are the ones who ran up the last 5 trillion in debt through excessive spending. That amount of debt didn’t come from the last 2 1/2 months that Trump has been in office.
You’re only noticing the ALLEGED TDS on my part because of the timing and Rand’s two votes against what Trump has proposed
And yes, in the company of some losers you mentioned.
The votes have occurred in the last week. A terrible coincidence but my posts reflect that and not some TDS
You can find plenty of threads from me supporting Trump before this week and I’m not ‘throwing the baby out with the bathwater’
You’re a moron
Relax, the GOP will care about spending and deficits again when they are the minority party in 2027. They will fight like hell in 2029 against President Newsom.
But printing money makes stocks go up, which makes 401-k accounts inflate. People love watching their retirement account get bigger. 😄
Increasing debt limit by $5 Trillion does not mean $5 Trillion will be spent immediately. May be president Trump wants to have elbow room while tariffs on imports do their job.
Hasn’t the concept of a debt ceiling as a barrier to overspending been discredited?
If it’s a discredited idea, shouldn’t people be setting it aside in favor of devising and developing new ideas for getting FedGov’s fiscal house in order?
As Trump is doing, and encouraging.
GFY! That would be the most productive thing you’ve done in your life .....wipe your chin off too...Rand is all over you...it’s uncouth
They can take a day off tomorrow, trust me
Actually, I’m really trying not to post about the negative stuff now or tomorrow. There’s been enough of that
> Hasn’t the concept of a debt ceiling as a barrier to overspending been discredited? <
Pretty much. But it still shines a light on the problem when the vote comes up. I see value in that.
No, the whole point was to decrease the debt.
IBTZ
Yes. Does raising the debt ceiling automatically mean we will borrow and spend more? Or does it just give us the flexibility? The worry that if the government changes parties they may spend it is real but I don’t think it automatically means we will borrow and spend. And what if we use it as a bridge finance to, say, buy back some of the 5% bonds and then sell 1% bonds? We’d be using the debt temporarily, but slash tens or hundreds of billions a year in debt service payments over the long haul.
There must be a reason for this and not just so the government can structurally borrow and spend more. That doesn’t make sense given that DOGE has been trying to cut waste and create efficiencies which should actually reduce federal spending. We could very easily have a smaller budget and no annual decficit by restructuring our debt and eliminating waste and fraud and jobs that are no longer necessary due to efficiency.
In Silicon Valley the big players have a betting pool on what year the first $1 billion one person company will be born. Think about that. They are all thinking that eventually we will have so much technological prowess that a single person will create $1 billion worth of productivity. Taking that to a simplistic overview of government - many of our most costly programs (entitlements) could theoretically be managed by a few score federal workers. The recipients won’t notice much change the checks will still come on time it just won’t require as many people to manage. This is why the left is going apoplectic. They see the writing on the wall. Big government is going to be replaced with big blue, without much disruption to the people dependent on it.
Yes, exactly. The money coming in, from perhaps what the poster here has forgotten, will be collected by the EXTERNAL Revenue Service. People are not keeping up.
Even Warren Buffett gets the fact that CASH money will flow into the US Treasury. Large numbers from the “returned” tariff balancing that may occur and/or the increased tariffs paid to the US by those idiot countries who don’t “get” free trade.
All respect to Peter Schiff- he is a gold bug. And frankly there is not even enough gold, on paper never mind physical gold to handle the runup of expenditures that Joey Bags Xiden did to aid Chi-Coms. Chi-Coms incidentally are screaming the loudest about tariffs— which should puzzle the Rand Paul fans as to why Paul (with 3 other RINO dinosaurs, Murkowski- skeleton protoplasm seat cooler, McConnell a gibberish speaking long time tool of Leftists dems who have had something on him for decades to control him, and quavering voice useful TOOL Senator from Maine- who has threatened twice to not run again- but just can’t cut the cash cord ) who side against the well understood rescue plan for keeping our CASH the world standard. A New Kind of Switzerland.
Big numbers confuse people who never could understand them. The proof on the gold alone? The Germans are making noise to have their tonnes of bullion in NYC Federal Reserve Bank vault returned to Germany— a Neo-Socialist slave state of Russia, exposed.
How long can we run a huge negative trade balance before all of the money is gone? It seems like a planned Cloward-Piven collapse.
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