Posted on 01/29/2023 7:26:01 AM PST by ChicagoConservative27
Did you know we are spending more (100B/year more) on debt than defense?
I read that not long ago.
Nobody cares...
They are like 16 year olds with credit cards that never max out.
Things will go on as usual until one day they don’t.
I am not trying to fortify my position on the war in Ukraine but nothing else comes to mind...what is the difference?
Do what you want and forget any consequences.
A song by the Grassroots....Live for Today. And don’t worry ‘bout tomorrow...
Sooooooooooooooooooooo...STOP THE SPENDING!!!
Has Yellen already chosen a nation that won’t extradite her???
Spending on welfare over past 60+++ years is calculated to be well over $27 TRILLION.
“Treasury Secretary Janet Yellen warned that the U.S. is facing a catastrophic debt crisis if lawmakers fail to raise the borrowing limit, saying the country would face a spiraling recession.” And Yellen is “nervous” about the US defaulting on debt.
Imagine calling your credit card company and telling them that if they don’t raise your limit then it will harm your ability to spend and you may default on repaying your debt. That’s essentially Yellen’s argument.
Imagine calling your credit card company and telling them that if they don’t raise your limit then it will harm your ability to spend and you may default on repaying your debt. That’s essentially Yellen’s argument.
That's an excellent analogy.
She needs to shut her yap and do her job to push the funds she has around...
Biden is currently in the mode of letting contracts authorized by the ARA...American Rescue Plan. Biden has the power to just say: Sorry, we can’t give these 10,000 contracts averaging 100 million each. We don’t have the money to cover them.
The issue is priority of expenses. Biden should pay old debts. He should not let new ARA and other contracts for new obligations. Yes, Congress passed the ARA. But let’s see th congressman who stands up and says “We should spend this money for new contracts and default on our debt.”
The issue is framed wrong. The Republicans need to know how to frame the issue.
Maybe you shouldn’t be so stupid as to borrow money to pay debt you should have never occurred?
“ Imagine calling your credit card company and telling them that if they don’t raise your limit then it will harm your ability to spend and you may default on repaying your debt”
THIS. Our government really is that financially irresponsible.
Mentally unstable IMO
Incurred
“ Did you know we are spending more (100B/year more) on debt than defense?”
Yes more spend on interest payments than our mammoth defense budget
That’s how big of a hole these POS people in charge of the purse stings have driven us
It’s infuriating
I’m nervous that this geriatric leftist is in any position of power in DC.
If she’s so worried, what the hell is she doing in Africa? Get back to DC and do your effin job.
Better solution. Fire everyone who draws a public salary. The country would be a lot better off. Stop all welfare too. Plenty of jobs available.
There will be NO default even if the debt limit is never raised again.
The U.S. has added $7 trillion since March 2020
It took 215 years for total U.S. debt to reach $7 trillion
heritage.org
There is a law on the books that defines what bills MUST be paid first if we have no more borrowing limit.
Paying the interest on existing debt first.
Then pay things like Social Security
The last things priority wise is the discretionary spending.
I don’t remember the name of the law, and the exact order of the spending, but the crux of it is we pay out DEBTS first.
The Federal Government is collecting record revenue, so they have plenty of money to pay their DEBTS, just just don’t have money to spend foolishly.
That was my understanding. We would have a ways to go before we even get to an “Austerity” budget.
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