Posted on 01/23/2023 10:10:21 AM PST by Carriage Hill
Dozens of House Democrats have proposed legislation that would eliminate the debt ceiling, which would allow the government to borrow without any limit set by Congress. The federal government hit the $31.381 trillion debt ceiling last week, and House Republicans are pushing for commitments to cut back on the record growth in federal spending before agreeing to allow more borrowing. But Democrats accuse Republicans of setting up the possibility of prohibiting a debt ceiling hike, which would make the government unable to fund all of its current obligations.
(Excerpt) Read more at foxnews.com ...
Like the meme says, "If you can print money to stop debt, why are we paying taxes?"
Correct link here: https://www.foxnews.com/politics/democrats-push-eliminate-debt-ceiling-allow-unlimited-government-borrowing
I think all POTUS do.
Many, many thanks!
It’s imperative that they do this so that we can hurry up and start talking about the economy and quadrillions rather than mere trillions.
My AMEX Platinum had no limit, but I never used it that way. Got rid of it last year.
Lower the debt ceiling, don’t raise it.
That’ll fall on ‘deaf ears’, as it always does.
Other times, Biden brags about cutting the deficit (though he neglects to mention that the debt is still growing). But when he wants to spend the money his way, deficits are irrelevant.
I’ve asked the AdminMod to pls correct it.
Thanks!
The leftists, socialists, communists, marxists, anarchists,blm’ers etc etc etc are in charge; we’re just along for the 4yr ride into hell — the end of capitalism and our Republic.
And thank you for pointing it out.
Well, it's good news that Democrat talking points are that dull-witted to fear 'spending cuts', because the second half of their missive: "Just all-out embrace stealing from the Treasury any amount!", will unfortunately resonate with this diseased Republic, who associate cutting even things like ant-farm studies as heinous (even though no Millenial actually understands that word, but if even one Millenial wanted to study ant-farming, then the rest demand that either the goobermint either fully fund it, or its ANTIFA time) as President Trump's mean tweets.
So if the GOP actually wants to do any cutting, they had better be able to pass a camel through the eye of a needle, because fiscal conservatism is f'ing dead in the United States, and you missed the funeral.
“No borrowing limit? Then stop taking in taxes.”
Agree. If the Fed can borrow without limit then put the tax money usually collected back into the economy.
Only a democrat thinks keep borrowing money from a loan shark will pay off the debt.
Those people need a net and a ride to the happy farm.
Not only stop the raising of the ceiling, reduce it. My Granddaughters are NOT going to be broke because of the Charlatans in DC! Also, they will NEVER EAT BUGS (unless they do that in the backyard..)
The true leaders will only emerge after a collapse happens, and that’s probably a long way off.
I am curious what you feel is a long way off. Like five years or 50 years?
I think we can go through another couple economic cycles of crash-print-inflate. Another 15-20 years (?)
Deficits are now about $1 trillion a year. They seem to double every major economic cycle. What will America look like they become $3-$5 trillion? $10 trillion?
Money will have become worthless, lower-income Americans will have become completely impoverished. Governments will be in massive debt. Cities, or parts of them, will be ungovernable.
But as mentioned, the rest of the Western world is doing the same thing. We're still the best dirty shirt in the hamper
Things may speed up if the BRICS call "bullshit" and go their own way. All bets are off if we get involved in a major war (ie. Russia/China). Then we will see an American dictator to control the consequences.
If they do that, convert all your IRAs to precious metals.
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