Posted on 01/21/2023 7:23:25 AM PST by ChicagoConservative27
On Friday’s broadcast of HBO’s “Real Time,” host Bill Maher stated that he understands Republicans saying that “an adult has to cut up the credit card” after overspending on the coronavirus that ended up being stolen.
Maher said that tying spending cuts to increasing the ceiling is “Republicans’ way of saying, Democrats spend too much money, of course, only when they’re not president. When a Republican is president, it’s never a problem, the debt ceiling and then spending money is never a problem.” And spending increased under the Trump administration without protest from Republicans.
(Excerpt) Read more at breitbart.com ...
As a group, today’s GOP is the same as the democrats of the Reagan years.
Today’s democrats have brought stupidity and insanity to a new level.
We are doomed.
So default would be option 1, and option 2 would be the old-time solution; conquer another country and take their valuable stuff. But nobody's worth 32 Trillion dollars, so option 2 is dicey at best.
Best way is to just bite the bullet and cut social security entitlements in half across the board.
“of course, only when they’re not president. When a Republican is president, it’s never a problem...”
He’s not wrong. For Republicans, “cutting spending” is a campaign issue, nothing more.
People always forget option 3: just keep printing money until inflation makes the debt worthless.
Well, the Treasury Department still has those printing presses haven't they? Just print it all up and dole it out according to the rules of patronage like Mitch just did back in his own home state of Kentucky! Turn up the interest rates, inflate the snot out of it and then recoup it back thru the tax code!
Easy peasy! What's so hard to understand?
/s
“Best way is to just bite the bullet and cut social security entitlements in half across the board.”
I am going on Social Security in 6 months. I have been paying in for 52 years an estimated amount of over a million dollars with interest.
My monthly SS payment will be $2800/month and you would have that cut in half......Imbecilic.
“Best way is to just bite the bullet and cut social security entitlements in half across the board.”
I am going on Social Security in 6 months. I have been paying in for 52 years an estimated amount of over a million dollars with interest.
My monthly SS payment will be $2800/month and you would have that cut in half......Imbecilic.
Otherwise, we act like Brian Kemp is in charge.
Sorry, but yes.. You got taken. Cut it, in half at least. I’ve gotten a lot more out of the system than I put in so I love SS, but still.. It’s unsustainable.
I think the Feds will eventually go with either of these two options (or maybe both):
- Pass confiscatory tax laws. You make $1 million, plus? Pay 90% over that number in taxes. You’ve got $1 million in assets? Pay an annual 20% wealth tax.
- Inflate their way out of debt. Just start printing large bills, and pay off the debt with those bills.
Either move would wreck the economy, with the second one being worse.
I protested about Trump's pre-Covid spending all the time.
In 2018 and 2019 - before Covid - we had full employment, low interest rates, low inflation, record tax collection, and no wars.
From memory, Trump's deficit was over $500 billion in both those years.
I’m taking Mark Twain’s advice now concerning “arguing with a fool”.
Have a pleasant morning.
There is only one engine capable of overcoming such a debt; it is the US economy.
Of course it is hopeless to pay off such a debt quickly.
But even a meager step in the direction of debt reduction would be a tremendously strong signal to the markets. It would power the next great expansion of our economy.
And there is SO MUCH fat and theft in the US Government budgets that there would soon be progress in the direction of solvency.
Remember that most of the war of the left on us normals is psyops.
They have been programming the nation to think of the debt as 'abstraction', 'impossible to ever pay off', 'an antiquated idea in the era of Keynes,' but that is ALL psyops.
To get the majority of the economics and government studies professoriat to believe and teach this Marxist concept is one of the greatest victories of the 1900- Progressive movement.
I distinctly remember Lindsey Graham and a few others asserting that paying COVID relief amounts LARGER than the salary a job would pay was a recipe for disaster. So not all Rs are quite as guilty.
Generally, however, yes Rs like to spend. That’s changing for the better.
And for perspective:
A. A billion seconds ago it was 1992.
B. A billion minutes ago people who knew Jesus were alive .
C. A billion hours ago our ancestors were living in the Stone Age.
D. A billion days ago no-one walked on the earth on two feet.
E. A billion dollars ago was only 8 hours and 20 minutes,
Imagine trillions !
It actually is possible to reduce the deficit.
Every single tax cut including trumps has net increased government revenue.
If spending growth were set below revenue growth deficits would decline.
In fact a healthy attrition of the federal government could be established in a cycle of virtuous tax cuts.
Lest anyone think this is a fantasy, Texas has a $33 billion dollar surplus. The legislature only meets every other year.
"Govern wisely, and as little as possible" -- Sam Houston
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