Debt Limitapalooza 2023!

[K1052]

Republicans demand spending cuts but refuse to identify what should be cut and demand Biden do it instead. Doesn't seem like a robust position that's going to stand up well in the face of a potential default.

https://twitter.com/x/status/1618271709660057603

 

[fskimospy]

Republicans demand spending cuts but refuse to identify what should be cut and demand Biden do it instead. Doesn't seem like a robust position that's going to stand up well in the face of a potential default.

https://twitter.com/x/status/1618271709660057603

Republicans: 'I am willing to force a national default in order to cut spending!'

Everyone else: 'Ok, what should we cut?'

Republicans: 'Beats me!'

 

[uclaLabrat]

Republicans: 'I am willing to force a national default in order to cut spending!'

Everyone else: 'Ok, what should we cut?'

Republicans: 'Beats me!'

Throwing a tantrum cause we wont do their homework for them? How very on brand.

 

[brycejones]

Republicans demand spending cuts but refuse to identify what should be cut and demand Biden do it instead. Doesn't seem like a robust position that's going to stand up well in the face of a potential default.

https://twitter.com/x/status/1618271709660057603

Fucking coward

 

[Brainonska511]

Throwing a tantrum cause we wont do their homework for them? How very on brand.

They just don't want to be the first to identify what to cut because they can't take the heat.

 

[NWRMidnight]

Republicans demand spending cuts but refuse to identify what should be cut and demand Biden do it instead. Doesn't seem like a robust position that's going to stand up well in the face of a potential default.

https://twitter.com/x/status/1618271709660057603

So they are admitting they have no fucking idea what their job is in Congress?

 

[dainthomas]

They just don't want to be the first to identify what to cut because they can't take the heat.

Maybe they're just trying to figure out which one of them will admit they're going to force cuts to SS and medicare.

These guys have gotten so far out over their skis. Even severe gerrymandering and conservative media gaslighting can't protect them if they try to pull a stunt like that.

 

[K1052]

So they are admitting they have no fucking idea what their job is in Congress?

They know but they've promised the base unrealistic things which are probably not deliverable can't even agree amongst themselves.

2024 has a lot of potential upside for R candidates if they can not look like irresponsible idiots and don't nominate a series of unlikable cranks that turn off normies for offices. So far not looking great on those fronts.

 

[fskimospy]

They know but they've promised the base unrealistic things which are probably not deliverable can't even agree amongst themselves.

2024 has a lot of potential upside for R candidates if they can not look like irresponsible idiots and don't nominate a series of unlikable cranks that turn off normies for offices. So far not looking great on those fronts.

Their problem is voters like unspecified cuts and hate specified cuts.

 

[K1052]

Their problem is voters like unspecified cuts and hate specified cuts.

This is all very ACA repeal fight like.

 

[FelixDeCat]

So to be clear you’re saying by lower federal interest payments the average American will be materially better off?

Collectively, yes.

 

[FelixDeCat]

The problem here is not a shutdown - the problem here is a worldwide global financial catastrophe as the underpinnings of zillions of financial products are undermined.

There won't be any problems so long as negotiations lead to concessions.

 

[brycejones]

There won't be any problems so long as negotiations lead to concessions.

Are you on all the drugs?

 

[fskimospy]

There won't be any problems so long as negotiations lead to concessions.

Nope - no concessions on the debt ceiling. Zero.

Any concession here guarantees a future default because as soon as you show that you can get policy wins through holding the world financial system hostage everyone will do it until we eventually default. For example next time a Republican is president Democrats could hold the debt ceiling hostage to double all federal spending. Wouldn't that be fun for you!

 

[fskimospy]

Collectively, yes.

You said this would lead to lower economic growth, meaning Americans would be collectively poorer.

I think Americans are better off when they are richer, not poorer. Do you disagree?

 

[SMOGZINN]

Their problem is voters like unspecified cuts and hate specified cuts.

Everyone wants to cut the spending of the other guy, but we have already cut the budget down to the point that the 'other guy' is either a massive voting block or a major campaign donor. There is no where left to make meaningful cuts that is not political suicide.

If conservatives really want to balance the budget and pay down the national debt there is only one real way forward, massive tax increases. Not a few percent on the poor, but like triple the tax burden of everyone, especially the ultra wealthy. But that is political suicide as well.

I'm not sure why they continue to harp on this issue when it is obvious that it will never be solved.

 

[FelixDeCat]

Wasn't defense spending like 40% of the most recently passed budget? Let's start there.

How about a 5% cut, especially in all those future whizz bang pew pew weapon systems that are years away from delivery.

Heck, we nixed the F22 so don't say it can't be done.

We funded defense at an amount greater then the WH even requested!

 

[fskimospy]

Wasn't defense spending like 40% of the most recently passed budget? Let's start there.

How about a 5% cut, especially in all those future whizz bang pew pew weapon systems that are years away from delivery.

Heck, we nixed the F22 so don't say it can't be done.

We funded defense at an amount greater then the WH even requested!

US defense spending is ~15% of the federal budget, depending on what you count as defense. So, a 5% cut to that means a cut of 0.75% of federal spending. It's a rounding error.

If you want to balance the budget that means one thing - drastic cuts to Social Security and Medicare. This will lead to large amounts of preventable death and homelessness among seniors. I wonder if they will feel better off?

 

[hal2kilo]

A report came out today in England I think by Tesco that they think there's lots of price gouging going on.

In the case of eggs it's literally the flu that started the price hike but then the company's take advantage of that too. I mean there's a serious reduction of chicken leg hens as shown in the article.

But then the capitalist mantra is to take advantage of any situation and then continue to raise and charge high prices even when they don't have to be that high anymore.

Things well learned, by examples from oil companies, and banks. Probably many more for this list. Race to go up, not so much to go down.

 

[hal2kilo]

None in the short run. This is shared sacrifice to lower the amount of debt that is publicly owed to reduce the amount of interest paid on said debt, thus causing a snowball effect on the balance. The sacrifice is stagnant government spending levels, tax increases for some and less tax deductions for all. It will be bitter medicine but it will show us the true cost of endless deficit spending.

You dont have to agree with me, but I sure would like to see a decline in the balance for once in my lifetime. Since interest rates have increased dramatically over the last 12 months and the Fed is no longer buying bonds via Quantitative Easing (and is doing the opposite - selling bonds), and the bill for our lavish spending habits is coming due.



Climate change has played a role in many things. Even temporary changes can be devastating. Ive seen a few interesting videos on Youtube such as when super volcanoes have erupted, spewing ash that into the sky blocking sunlight worldwide and having a major impact on events in the past. Then of course there is all the man made foibles such as poor farming methods that led to the loss of topsoil which became airborne, blocked out sunlight and hampered rainfall for years leading to what became known as The Dustbowl.

Why does the "feel" like the same kind of magic of trickle down.

 

[fskimospy]

Why does the "feel" like the same kind of magic of trickle down.

I wonder if he realizes that the large majority of our debt payments are to ourselves.

 

[hal2kilo]

Republicans demand spending cuts but refuse to identify what should be cut and demand Biden do it instead. Doesn't seem like a robust position that's going to stand up well in the face of a potential default.

https://twitter.com/x/status/1618271709660057603

Sounds like "Are there no work houses".

 

[ElFenix]

While I would prefer us to eventually reach zero debt its probably not a given in my lifetime since so many have been brainwashed into believing irresponsible deficit spending is a given, therefore we should always do it (ie, inflation).

Yes, fingers can be pointed at both sides for various reasons as to why we owe so much. Both parties have contributed to the mess we are in. But finger pointing will solve nothing. So lets resolve to figure out a way to start reducing the debt and no longer add to it.

My suggestion was to balance the budget and keep government spending fixed for 5 years. No increases at all. Then as the economy grows apply additional collection to paying down the debt. Pretty simple. We can also raise some taxes and eliminate some deductions to balance the budget.

But you dont have to agree with me. I realize I am in the minority and have argued for this in various ways for a very long time.

you're writing a recipe for economic slowdown. we've proven this again and again in history. if anything, you want the debt to be a problem. oh, you say you don't, but then every proposal you make makes it more of a problem than it is. as one wants the natural outcome of their acts, and as the natural outcome of your *balance the budget and keep government spending fixed for 5 years while applying any excess revenues to accelerated debt retirement* plan is a recession, and recessions sharpens whatever issues we have with the debt, you clearly want debt-related issues to sharpen. why? because you want christian nationalism to take even more power in this country and that's the recipe for it.

 

[Ajay]

Republicans demand spending cuts but refuse to identify what should be cut and demand Biden do it instead. Doesn't seem like a robust position that's going to stand up well in the face of a potential default.

https://twitter.com/x/status/1618271709660057603

Ugh, these kind of statements make my brain hurt. The cognitive dissonance is off the charts. It’s like, well, I don’t even know what to say. I think I need a drink

 

[FelixDeCat]

you're writing a recipe for economic slowdown. we've proven this again and again in history. if anything, you want the debt to be a problem. oh, you say you don't, but then every proposal you make makes it more of a problem than it is. as one wants the natural outcome of their acts, and as the natural outcome of your *balance the budget and keep government spending fixed for 5 years while applying any excess revenues to accelerated debt retirement* plan is a recession, and recessions sharpens whatever issues we have with the debt, you clearly want debt-related issues to sharpen. why? because you want christian nationalism to take even more power in this country and that's the recipe for it.

Those who dont see the national debt and as a problem is not living in reality. Im not sure why anyone would not think it isnt especially since we are at record highs - which are continually broken.

If my proposal of freezing the government spending levels, balancing the budget and paying down debt doesnt seem to do the trick, what do you think will? If you think ignoring the problem is a "solution" to anything, thats akin to burying your head in the sand and letting future generations suffer for it. That kind of sucks for them - but who cares, right?

I am Christian and think America is a better place to live than most despite our problems, but Im not supporting any movement other than Republicans (or Democrats or Independents who are interested in reducing government spending).

Since nobody wants to see "their" program cut, the only fair thing to do is across the board spending reductions of 1-5% as a down payment.