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National Debt
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mat-ty



Joined: 07 Jul 2007
Posts: 5569

PostPosted: Fri Feb 15, 2019 2:37 pm    Post subject: Reply with quote

techno900 wrote:
When liberal Presidents run up the debt, not much is heard. When conservative Presidents run up the debt, it's big news.

Bottom line, probably more for the right that the left - STOP over spending. The crap will hit the wall at some point and it will be a huge issue. Taxes should go up, but spending must go down.


Headlines all over the place: U.S. National Debt Hits Record $22 Trillion.

Shocking - there's a new record every year. The media really needs to get a life.


Just like the body bags when Bush was president..
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boggsman1



Joined: 24 Jun 2002
Posts: 6907
Location: at a computer

PostPosted: Fri Feb 15, 2019 2:45 pm    Post subject: Reply with quote

I'll add Techno! to the list of "what me worry" about debt people...

The reason its big news when Repubs run up the debt is becaue Repubs have always attempted to take the high road when talking about debt, which is BS and anyone who has ever paid attention knows that most of party is part of the Trump/Cheney "deficits don't matter" crowd...

Stat: we are the highest level of total Debt/ GDP, than at anytime other than 1929. 1929 -260%, Today 360%...
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mac



Joined: 07 Mar 1999
Posts: 12014
Location: Berkeley, California

PostPosted: Fri Feb 15, 2019 5:51 pm    Post subject: Reply with quote

techno900 wrote:
When liberal Presidents run up the debt, not much is heard. When conservative Presidents run up the debt, it's big news.

Bottom line, probably more for the right that the left - STOP over spending. The crap will hit the wall at some point and it will be a huge issue. Taxes should go up, but spending must go down.


Headlines all over the place: U.S. National Debt Hits Record $22 Trillion.

Shocking - there's a new record every year. The media really needs to get a life.


Tell me how spending is going to go down with Republicans spending even more on defense. Here's the numbers:

The FY 2019 budget is $4.4 trillion. The vast majority of that is non-discretionary--programs that were established long ago, most particularly defense (new weapons, construction), social security, and medicare. Military spending now represents 52-54% of discretionary funding. Debt service now represents outlays of 4.4% of GDP--nearly that of health spending.

In that context, the tax cuts were irresponsible. I said that at the time. Idiots who believe every lie that comes out of Trump's mouth said on this forum the tax cuts would create so many jobs that they would offset the loss of revenue. Right. The loss of revenue is on the order of 1/2 trillion. About half of the military budget. What do you suggest we cut, by how much, and how?
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