Posted on 10/06/2021 1:46:34 PM PDT by RandFan
@PeterSchiff
The irony of Pres. @JoeBiden having a conference to warn Americans about the dangers of defaulting on the National Debt is that as a U.S. senator for 35 years he was instrumental in running up that #debt. The bigger problem is not defaulting on the debt, but actually repaying it.
@PeterSchiff
Pres. @JoeBiden is wrong to claim that raising the #DebtCeiling has nothing to do with future government spending. If the ceiling is not raised, the government will lack the means to finance that future spending. In fact, it will be forced to reduce future spending to repay debt.
(Excerpt) Read more at twitter.com ...
Nope. According to Tim “the clown” kaine, the repubs max’d out the credit card and now don’t want pony up. I mean, who ya gonna trust? 👺
bookmark
The irony of Biden and progressives talking about financial responsibility when they have over-spent us to this point and are still trying to recklessly spend more.
Poor Peter has been disappointed for almost 20 years that everything hasn’t crashed, burned, exploded and melted yet.
I hope he stays disappointed.
I heard today they want another 1-2 TRILLION dollars for a “family package”.
I have long since come to view this as a deliberate attempt to destroy this country. There is no other way to view it.
The Left is doing it out of malice and hatred. The rest of the Deep State including most of the Republican party is participating and contributing by cravenly sitting on their hands.
How is that a bad thing? This crisis was brought to us by the same people who spent too much to begin with. THEY brought this problem to us!
Peter misunderestimated how far the Fed was willing to go to levitate the economy and enable government spending.
Congress holds the purse strings to a degree. When slick Willie was in the WH, the pubs pretended to be fiscal conservatives and to their credit, governed in part to that expectation. But when it came to credit, Clinton was credited, only because he was at least smart enough to take advantage of Newts Contract with America. However, short lived.
When Trump was CiC he had to fight not only communists and socialists but also rinos of his own party. And the media was happy to blame him for the debt they themselves demanded.
Fast forward to a stolen election and democrats have complete control. It’s hard to place blame on anyone but the dems if the GOP can resist the usual defections.
They will own the consequences if they pursue “The contract ON America”
The USA cannot default. Its domestic spending and foreign spending can be curtailed by a shortage of money but the first money out is interest on the debt.
The fact is, Washington is broke. 3 trillion here and 1.5 trillion there, here a trillion, there a trillion, pretty soon, no more trillions.
Hey Schiff for Brains how much was the National Deb before that waste of air Obama showed up ?
Schiff famously predicted the subprime mortgage crisis several years before it happened.
He was a laughing stock. Until he was proved right.
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