Posted on 05/08/2023 8:07:13 AM PDT by ChicagoConservative27
There is reason to doubt the political sanity of U.S. House Republicans who are refusing to raise the debt ceiling that allows the United States government to pay debts already incurred by past acts of Congress. There is also plenty of reason to doubt their sincerity.
Regarding sincerity, Republican congressmen only threaten to put the nation in default when a Democrat is in the White House. Though spending and debt have gone up and up through four administrations, they did not go to the brink for their elastic fiscal principles when George W. Bush was president, nor when Donald Trump was commander-in-chief. When Democrat Barack Obama was in charge, though, they pushed dangerously close to the edge of disaster and now are ready to do the same with Joe Biden.
That looks suspiciously like partisan politics, not financial prudence.
(Excerpt) Read more at seattletimes.com ...
"...all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government."
It’s only through the threat of default that people come to realize, we have a problem. The spending can’t go on indefinitely. The more our money is devalued, the more is taken out of our pockets and people need to realize why this is happening.
The markets will eventually resolve this by getting rid of the dollar, exchange rates, etc etc.
The dollar has been abused by our leaders, while they have promised not to curb spending. Gen x,y,z will be certainly suffer because of past promises.
How about we pay interest on the debt first? The US Treasury collects PLENTY of bucks to pay that bill every month.
“That looks suspiciously like partisan politics, not financial prudence.”
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. government can’t pay its own bills. ... I therefore intend to oppose the effort to increase America’s debt limit.”
— Then-Sen. Barack Obama, floor speech in the Senate, March 16, 2006
and then there is this:
https://www.youtube.com/watch?v=1kuTG19Cu_Q
Fiscal responsibility is essential to contain devastating inflation, overreaching government, and devalued dollar as well as bank failures. Joe Biden’s buy vote scheme is destroying the nation on a national and international level, and people know it now. The SeattleTimes is unable to grasp the reality that continued deficit spending is having disastrous consequences....like BLM or defund the police....it ends badly. They need to stop doubling down on STUPID, and start working towards a balanced budget.
While previous administration certainly share blame in the mess which has been created, what we have today is WASHINGTON CREATED INFLATION. I’m 60 and this is the first time in my adult life were we have runaway inflation, which hurts the poor the most, created solely by Washington.
This time it is very different. The can has been kicked down the road......now we are at a dead end.
So the only way we can pay our debt is to incur more of it?
This progressive propagandist omits to mention that in Reagan’s day there was at least a federal budget passed by Congress and sent to the President. I don’t think that has happened since 2016, has it? Commies gotta Commie, but let’s have some facts.
Yellen was just on CNBC and said that the Repubs are holding a gun to the head of the American people and the American economy. She is blaming the potential of the dollar losing reserve currency status soley upon the Repubs holding out on the debt ceiling. She is such a worthless Biden POS.
Actually congress can pass a bill that would do exactly that. Prioritized items i.e. debt service, social security, military pay etc. Leaving the pork projects to go unpaid. Now that would be called budgeting your money.
It is a shame the Sec. of Treas. can’t make common sense decisions. All polical - all the time.
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