Debt Limitapalooza 2023!

Paratus

Lifer
Jun 4, 2004
15,945
11,564
146

HomerJS

Lifer
Feb 6, 2002
31,933
20,892
136
US defaults thanks to Russian loyalists in the US congress.
US stocks nose dive.
Inflation.
Biden says he's not a dictator so its up to Congress.
Republicans blame Biden
FTFY

People have such short memories they have to be told again debt limit is about paying for past spending.

Of course Repulicans won't have time to deal with this because Hunter Biden is more important.
 

Pens1566

Diamond Member
Oct 11, 2005
9,601
4,377
136
Barring something completely unforeseen, we'll either default or they'll mint the $1T coin they keep talking about. There's almost zero chance that congress (GQP house really) does anything to fix this. The minute that McCarthy does anything towards resolving the crisis without huge cuts to SS/etc., the MAGAs will invoke the speaker removal clause in the new rules.

And yes, they'll all blame Biden no matter what.
 
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hal2kilo

Lifer
Feb 24, 2009
21,101
8,036
136
FTFY

People have such short memories they have to be told again debt limit is about paying for past spending.

Of course Repulicans won't have time to deal with this because Hunter Biden is more important.
Use the usual logic of Republicans. Why don't we run the government like our own home budget. Response to them: So, you don't pay your credit card bill?
 
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fskimospy

Elite Member
Mar 10, 2006
78,569
37,547
136
I believe it would be a special single minted coin worth $1T.

Don’t lose it.
Yes, basically Biden would mint a $1 trillion (or more!) coin and then give it to the treasury. He can do this as many times as is necessary.
 

Bitek

Lifer
Aug 2, 2001
10,550
5,063
136
Yes, basically Biden would mint a $1 trillion (or more!) coin and then give it to the treasury. He can do this as many times as is necessary.
Maybe mint two in case he passes a vending machine on the way over...

Would be a shame to have a debt crisis due to the irresistible taste of Funyuns.
 

fskimospy

Elite Member
Mar 10, 2006
78,569
37,547
136
Why do we even have a debt limit? If we're stuck with it for some reason, just raise it to a quadrillion dollars and we're good to go for the next fifty years.
I have asked this question many times. There is no real answer though, it’s the dumbest idea ever.

If you don’t like federal debt that’s fine, but the answer then is to have congress spend less money, not have some random law where maybe we blow up the world economy every few years.
 

Jaskalas

Lifer
Jun 23, 2004
31,840
5,863
126
Given this Congress, and its goals, this is going to be a problem.
We will likely have to endorse Russia's ethnic cleansing in Europe before Republicans allow the United States government to function financially.
 
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Moonbeam

Elite Member
Nov 24, 1999
70,090
5,283
126
I have asked this question many times. There is no real answer though, it’s the dumbest idea ever.

If you don’t like federal debt that’s fine, but the answer then is to have congress spend less money, not have some random law where maybe we blow up the world economy every few years.
Our country has created vast riches held in private accounts while creating huge levels of borrowing to alleviate the suffering filling those accounts has imposed by the transfer of that wealth. Why not tax those privately held pools of money instead, at an adequately level to fund that deficit.

Of what value is vast wealth to a country if that wealth is owned by a tiny fraction of the people?

If the haves won’t share the Golden Goose, perhaps it is time to let it die. We create what we fear and the rich fear poverty. And here come the Republicans. Voila!
 

Thump553

Lifer
Jun 2, 2000
12,335
1,923
126
As of just a few days ago we were being told this crisis would occur in June or September. How in the world did it go from that to just a couple of days? I presume the government has dozens, maybe hundreds of "experts" whose job it is to predict things like this.
 

K1052

Lifer
Aug 21, 2003
42,349
24,262
136
As of just a few days ago we were being told this crisis would occur in June or September. How in the world did it go from that to just a couple of days? I presume the government has dozens, maybe hundreds of "experts" whose job it is to predict things like this.
Treasury implements "extraordinary measures" to extend the deadline on a regular basis. Right now looks like June.
 
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sdifox

No Lifer
Sep 30, 2005
90,529
12,362
126
Change the congressmen's pay to BTC while they drag their feet and it will be raised for good.
 
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senseamp

Lifer
Feb 5, 2006
35,656
5,924
126
Democrats obviously thought it's going to be a disaster for the GOP and can be used for leverage, or they would have raised it in the lame duck.
 

Bitek

Lifer
Aug 2, 2001
10,550
5,063
136
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