What damage to America does the traitor and his party plan for the rest of the year.?

Fiscally reckless republicans are manufacturing an unnecessary crisis by refusing to raise artificial debt ceiling.  Insolvency is the problem while increasing debt is the solution.  Nothing positive can come from a default.  Apparently, republicans aren't really serious about reducing budget deficits because of their rejection of higher taxes.  History shows the best way to produce budget surpluses is higher tax revenue through economic growth.  Spending cuts being less effective can backfire with unintended consequences.

@thirdperson

 Truth be told I dont want a debt ceiling raise, I'd rather both sides say they are not raising the debt ceiling and will together create budget cuts to solve the problem. I hate repeated increases in the debt ceiling because all that does is make our future generations more and more in trouble, the more we consume now, the more we spend now the harder it will be later and that is the case for every generation.

Want a good way to shut down inflation? Slow consumption...funny how that works.

@wallstreetcappers

I don't think you can give a reasonable answer to the bot Third. I mean, just look at this sentence the bot Third spews, "...the best way to produce budget surpluses is higher tax revenue through economic growth." This single sentence is an oxymoron and anyone who believes this also believe we can mint a 1 trillion dollar coin to pay off debts. Higher taxes do not relate to higher economic growth in the long run. Sure, at first higher taxes will benefit budget surpluses. But in the long run, higher taxes will lead to slow growth. Socialists love to spend everyone else's money, but eventually that lil piggy bank runs dry.

Lets be real, fed and govt is screwed either way. They've dug the hole so deep that there is very likely no way way out. You know what is for certain though? Your buddies on wall street, the banks and the govt will not take damage. The tax payers will, like they always do. Debt ceiling will be raised, govt will continue to spend recklessly, money will be printed, inflation will continue to rise (while they continue to normalize this inflation is is multiples above their target), banks will get bailed out (well, the large banks) and central banks will destroy the dollar. If debt ceiling doesn't get raised, govt will be forced to cut back spending and the citizens will bare the weight of the trouble. but don't worry, inflation is transitory, there will be a soft landing, 2% inflation will be reached, jobs are strong, gov't (dems) will continue to give empty promises of "free" money for their vote, banks are fine and the fed has infinite amounts of money.

You can't stop consumption, how else are your wallstreet buddies going to pump n dump the markets?! Gotta meet those expectations, ya know what I'm sayin?! Bring in more cheap shit from Chyna.

Yeah, I guess we could import more cheap crap from China, like Trump-brand ties and Ivanka’s useless crap. 

@wallstreetcappers

@BigGame90

  We're reaching the point of no return with our debt. I've no idea what third is talking about RE: fiscally reckless Republicans. We didn't get here overnight, & blaming one party is just silly. Biden has added 6 trillion to an already huge number, so maybe he thinks Biden is a conservative. I agree with you, Wall. I'd rather a plan be put in place & we start chopping away at our debt......the politics over this issue is old & sickening. Amongst the constant campaigning, nobody in any office will address the elephant because nobody wants to be blamed for what it will take to fix it, & nobody will campaign on a fix because they'd never get elected.........& that's our fault as voters.

I agree. We'll never hear a plan on how to get out of this mess. There is always an election coming up and in today political society, the only focus is on the next election and votes. The hell with doing actual work, politicians just focus on votes. Period. Trigger one side, pull the emotional strings from the other, give false promises, never deliver. Boom, you're a politician, slowly destroying society for your own power.

Trump became so polarizing because was not a politician.

To me this rolling debt limit increase means there is no fiscal responsibility for politicians. Also to me it is not a partisan issue, it is not DEM vs GOP, both spend both are equally guilty the difference is what is in the goodie bag, neither is better than the other.

If I had to choose what the spend goes towards it would be social programs vs military and weapons accumulation. Id rather spend on food stamps and social security than funding Ukraine and their situation or invading Iraq and Afghanistan. In the end the root cause of our debt problems is corporations, corps are the taker of government spending, so corps that are in the military universe or corps that our social programs support. As long as lobbyists suck the blood out of politicians and corps run the government we will always be doing this debt ceiling fiasco. The general public is not interested in losing their entitlements, most people do not want to be put out in a way that would balance the budget but to me there should not be any more debt ceiling raises, that starts at the budget and not spending any more even if Ukraine is invaded or Saddam goes after the Saudis or whatever other reason we could spend, once a budget is passed there are no other possible ways of political manipulation to spend more than what is agreed upon with the one budget that is passed, if more funds are needed then cuts come from something else, not more debt more spending.

Last thing, consumption can stop, it happens all the time I know mine has with this inflation I buy less, consume less and others do the same but until the public in general decides to reduce consumption we cant really impact pricing even with a small supply increase.

THIRD, seriously,  you might be one of the most uninformed,  incompetent  person on this site, and that is saying something. 

Let me put it to you succinctly.   This country doesn't have a problem bringing in money ( thus, there is  no reason to raise taxes on anyone !!!!!)....IT HAS A SPENDING PROBLEM. 

stop the damn spending  !!!  Is it too much to ask for ? 

Agreed,  Wall !!!

My only clarification is to slash  spending,  not consumpton.   Spending is the added on affect from the federal government that got us into this whole mess..  There always should be consumption in a healthy,  functional economy 

Great post, particularly the first paragraph.   

It's sad, but most people have a false sense of security that the government will always be there to bail them out... this from said government that is $32Trillion in debt,

That's right,  that same government that bailed out the country in the financial crisis of 08-09, and the pandemic of 2020 that handed out free checks...  just wait,  "we the people and taxpayers " will be bailing out the government before long.

Consumption comment was about the Biden inflation comments...if we want to slow inflation then slow consumption that will balance supply by reducing demand.

But we only need to reduce the "artificial " demand that was created by the government to begin with.. consumption by the consumer isn't what got us into this mess.  

@Rush51

 I dont see what you do in that regard...meaning from statistics of consumption I do not see an increase to the extent which would cause massive inflation. It takes a TON of move to nudge the needle with regard to CPI and inflation. The way we went from nothing to wild fire is not the function of even a double of disposable income from the government...which I am of course suggesting did not happen, I am saying that even IF it happened it would not cause the wild fire we experienced in the last 18 months with inflation.

I do not see in any figure that the government freebies ramped consumption, just based on GDP, CPI, measures which compute consumption. The FED tried for over a decade to nudge inflation and failed and that was with them adding TRILLIONS into the system, so you cant suggest that even  T directly to the pockets of consumers would turn on inflation like this, it makes no financial sense it has no rationale behind that thought. To me this inflation ramp is 100% supply based and has not been fixed yet.

That said if you want to put out a supply based inflation fire you can only do two things...add supply or reduce demand, nothing else can work.

We did that during covid. Wait, we did that for small businesses but allowed the big corps to keep running. Ironically, the big corps that pay lobbyists, that in turn pay off politicians.  Consumption went down (until we got "free" money), but prices went up to account for the lack of sales. Gotta boost those stocks somehow ya know. Your buddies on WS need it. Don't forget to get your booster so you protect your neighbors. If you don't, you're a terrible person and shame on you. Don't forget to keep your mask on you dirty animal.

@Rush51

@BigGame90

  The little guy was hurt substantially during covid & I'll give an example. In WA state, renters were allowed to live "rent free" for about two years. The "government" was supposedly subsidizing landlords during this time, but I know of people that had rental properties (just one or two props) that got shut out of that......no response........yet were still expected to pay the mortgage & taxes the whole time. The "eviction moratorium" was extended longer in some cities/counties than others.

 I get the idea of it, & it had the "best intentions"......but of course it was abused. The banks/lenders were protected, as were the tax collectors.......but not the little guy.

@THEMUGG

The whole idea of "freezing" payments was a disaster. There are no lines, the Earth never stopped spinning, there were no regulators (mount up)

 All by design...?

Over what period of time ?  It was spread over a decade while interest rates were nil...  What makes the "Trillions" that were added during COVID phase (2020-2022) is the unprecedented amount of $$ showered on the economy in a very short period of time.  

Numerous economists have seconded this thought, even those with a DEM preference (Larry Summers among them).  

I already mentioned that government spending w.r.t. GDP is at its highest ever in peacetime period.   When you say you do not see any figure that the government freebies ramped consumption suggests you aren't looking very hard.  That is perhaps the most striking figure you need to look at... 

@Rush51

 What data do you have that shows GDP ramped during the time you suggest? What data do you have as in real numbers that shows consumer consumption increased X ammt over X period of time? That is what I am saying I do not see. 

The government freebies did not flow into the wallets of consumers and the consumer did not take X government freebies and apply it to additional consumer demand, that did not happen in any shape or form in data I found.

What happened is consumers were not working, loss of income and fear based on Covid meant the government freebies went to supplement the job and income loss, it isnt like the freebies went on top of a healthy, spending consumer and created additional demand. In fact GDP went in the crapper, what the government did was offset the loss of productivity, jobs and income.

As for the FED Ive posted this chart before but here it goes showing their balance sheet which is the increase they have made over the last period of time-

 https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm

     Should be obvious to most.

I heard Trump plans to bulldoze schools in states that didn’t vote for him. No other reason than retribution. And hey, good for him - it’s not like he ever wanted Americans to have a god education anyways. Just look at his record after all.

As fubah2 has pointed out multiple times, though always seems to be forgotten, Biden admin has already made an unprecedented huge reduction in spending by getting our asses out of the war the republicans started 20 years ago, which was costing our budget approximately $300 million every single day. 

That alone is the largest budget cutting in recent memory by any party.

A massive chunk of our growing debt is in fact spending by both republican and Democrat admins to allay the harm caused by REPUBLICAN mismanagement in 2008 and again in 2020.

[Quote: Originally Posted by Zeus4par]Quote Originally Posted by thirdperson: Fiscally reckless republicans are manufacturing an unnecessary crisis by refusing to raise artificial debt ceiling.  Insolvency is the problem while increasing debt is the solution.  Nothing positive can come from a default.  Apparently, republicans aren't really serious about reducing budget deficits because of their rejection of higher taxes.  History shows the best way to produce budget surpluses is higher tax revenue through economic growth.  Spending cuts being less effective can backfire with unintended consequences.

"What damage to America does the traitor and his party plan for the rest of the year?"

Most MAGA-idiots appear to want to assault our US justice system,
in large part because:

 • trump.org was tried on 17 counts of FRAUD and found guilty by jury
 • trump arrested and indicted by grand jury on 34 fraud charges in New York
 • trump very soon to be indicted in Georgia on criminal election interefence
 • trump may yet be indicted to face criminal charges related to "insurrection"
 • trump indicted on 37 federal criminal charges related to US national security
 • trump tried by jury and determined to be a SEX OFFENDER

....and MAGAs are embarrassed their republican party leader is finally being held accountable for his multiple crimes, especially since he has declared himself "the most honest person God ever created" - so, in their logic, the justice system must go!

Violating debt ceiling deal, house republicans vote to target spending below level agreed by McCarthy and Biden.  Setting up a fight with senate that would increase risk of government shutdown in October.  Apparently, republicans cannot be trusted to honor deals and McCarthy is a weak leader.  As expected, GOP House is chaotic and incompetent.