I in just know a your momma or a reference to someone having a wee Willie is coming
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As of today it looks like the band is getting back together.
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Nobody’s asking you to explain things, yet you feel the need to inject your unique brand of wisdom.
Keep your day job. (If you have one) Your psychological evaluations are about as useful as a sieve in a sinking canoe.
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I never said it was collapsing, I said it was imploding. That being said the most likely outcome from this civil war is with trump exiling everyone who sided with Elon and MAGA going forward alive but slightly weakened.
You don’t make space unless you plan to use that space. You don’t buy a magazine unless you plan to fill it with ammo.
What space?
Current debt ceiling: $36.1T
Current debt: $36.9T
There is no space, right now. If the ceiling isn’t increased, the U.S. will be unable to borrow. If it isn’t raised, the debt will continue to rise, even if no new money is spent. That’s what happens when there’s interest. If you aren’t able to make the payments, and don’t pay, you go into default.
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Paying for debt by going in debt. sense this makes, yes
The last time there that was no debt was 1835-1836. That’s 189 years of an increasing debt. If you think that it is possible or otherwise expect that the debt is going to go away with the flip of a switch, you’re sadly mistaken.
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I don’t, and sadly I think it will stay far into the future. I just find it hilarious that the same people so pissed about the democrats raising debt now trying to defend the exact same thing when their hero does it.
You’re confusing raising debt with raising the debt ceiling. They are two different things.
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There is a big difference from making it go away and increasing it … It will soon be the biggest expenditure this country has surpassing SS. You can bitch all you want about SS. but it atleast helps people … The debt does nothing but sucks the future of this country down the drain.
They do not need Elon!!! They need “DAVE RAMSEY”… Make the government eat rice, until they pay off their debt… If the debt was removed. We would not even talk about military spending or SS …
I do understand how debt works for government when used properly to hedge against inflation..
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When have I ever?
Second, I agree that the debt needs to start trending the other direction, and not once have I ever stated differently. We are already over the limit, our credit card limit has been exceeded. We aren’t going to walk into a windfall of money, period. We do, though, have the option to raise the ceiling (the credit card limit) so that we are no longer, temporarily, over that limit.
The thing about interest is that it keeps adding up. It isn’t going to stop because we’re at the limit, over actually.
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Once again you don’t make space unless you plan to use it.
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I am sorry. I did not mean you specifically. It was a generalization, of the people here, and what I have read in the passed. My apologies.
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We are ALREADY using it
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There are easy ways to reduce the debt. I have listed them many times . Like closing the loopholes on wall street. Having the rich just pay their FARE share…
Hopefully this will help.
Let’s say you have a credit card with a $50,000 limit. You have used every dollar of that limit. The interest on that debt is such that you are only able to make the minimum monthly payment.
The problem is, you don’t earn enough income on your own and have to use some credit to pay your bills.
You make a payment on the credit card and then use the credit card again because you have to until you’re able to cut spending where possible and increase your income.
The interest continues to accrue. Now, your principal debt plus interest is growing faster than you can pay it. Before long, you will no longer be able to make the minimum required payment. You are now in default.
You will no longer be able to borrow or spend. You have failed on your duty to satisfy the debt you acquired.
Now, earlier on, before you went into default, your credit score was such that you could be approved to increase the limit on your credit card. Doing so would give you the space to keep paying on the debt while being below the new, higher, limit. You avoid the additional penalties.
…
Of course, you MUST use that opportunity to be more judicious with your spending, more diligent with paying down what you already owe.
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Yes, except the majority of it is funding tax cuts not paying of interest.
That is a false statement.
Your argument, though, appears to be that tax cuts are a negative thing. This is also false.
When the “take home” pay (after taxes) is increased, the economy is stimulated. More people with more money spend more. They invest more. They pay off more debt, leading to more spending.
The more the economy grows, the stronger and healthier it is, the more tax revenue is generated.
You maintain, or even worse increase, the current tax rates, the opposite happens.
It is worth noting that there have been times where increased tax rates did generate more revenue. This, however, was short-lived as people ran out of discretionary money. The economy then shrank and the revenue dwindled.
Then there’s the “tax the rich” argument. They already pay a far greater share in taxes relative to their percentage of the total population, by a lot. Second, the top 1% or top 10% are the people who own or are heavily invested in businesses. Those businesses are how the rest of the people earn their income. Taxing them more is punitive, it takes away their incentive to own, operate and invest in businesses. What happens next are layoffs, downsizing, etc. Now, fewer people are earning meaningful incomes, if any income at all. The economy shrinks, reliance on social services increases. We are now worse off than we were before the rates were increased.
Increasing the punishment for being successful helps no one.
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The bill includes roughly $3.75 trillion in tax cuts that’s much more than we would be paying in interest. While I think that tax cuts can be a good thing I don’t think that they are worth increasing the deficit by an estimated 2.4 trillion. Whatever happened to Republicans careing about the national debt and being fiscaly responsible.