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Debt Limitapalooza 2023!

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FelixDeCat said:
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.
Click to expand...


Or.....raise taxes. Dems have done that in the past with the effect being the yearly deficit drops and an actual surplus can be generated and applied to the overall debt. Imagine if the country kept this up for a decade or two. And another benefit is the economy does rather well, too.
 
FelixDeCat said:
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.
Click to expand...

You realize it's virtually impossible to freeze government spending, right? You also realize, unlike your income, where you know how much you earn per month, the government's budget and spending is based on projected estimations of revenue in the future. What that means is the government will always have debt, and often deficit spending because tax revenue was not what was projected. It's not like they can go out and get another job, or like a business, go out and drum up more business.

The only option. Is raise taxes, most notable on the rich, as their cut in taxes over the decades is why we have this problem. Raising taxes on the low and middle class is not the solution, as it will actually increase government spending, and increase debt.
 
Meghan54 said:
Or.....raise taxes. Dems have done that in the past with the effect being the yearly deficit drops and an actual surplus can be generated and applied to the overall debt. Imagine if the country kept this up for a decade or two. And another benefit is the economy does rather well, too.
Click to expand...

Yes, we do need more income but everyone should contribute. A 1% increase on all tax brackets from the bottom to the top.
 
NWRMidnight said:
You realize it's virtually impossible to freeze government spending, right? You also realize, unlike your income, where you know how much you earn per month, the government's budget and spending is based on projected estimations of revenue in the future. What that means is the government will always have debt, and often deficit spending because tax revenue was not what was projected. It's not like they can go out and get another job, or like a business, go out and drum up more business.

The only option. Is raise taxes, most notable on the rich, as their cut in taxes over the decades is why we have this problem. Raising taxes on the low and middle class is not the solution, as it will actually increase government spending, and increase debt.
Click to expand...

But that is the root cause of the problem - too much spending. Spending should not exceed income and should be based on an average of the last few years collections not assumptions based on future revenue.
 
FelixDeCat said:
But that is the root cause of the problem - too much spending. Spending should not exceed income and should be based on an average of the last few years collections not assumptions based on future revenue.
Click to expand...
Glad to see you made it clear, that you don't understand what you are talking about, and have zero clue how government spending, budgeting really works. The root cause is not to much spending, that is the least of the problem. It's lack of revenue created by constant tax cuts.

To put it in terms you understand, it equivalent in you going out buying a new car, a house, having 6 kids, etc. Then purposely quitting your job to take a job that doesn't meet your financial obligations, then your friends and family accusing you of over spending. So your solutions is to stop buying food, necessities for your family, but you still spend money on your computer system and games, etc and then, you quit your job again, only to take an even lower paying job. Rinse and repeat. That really isn't a real accurate example, but probably as close as one that you Might understand.

So, is the root cause due to you buying computer shit and games?


This is pretty much what the Republican's have been doing since Reagan, and every time the Democrats are in control, they want to blame it on them and spending.
 
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FelixDeCat said:
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.
Click to expand...

You have yet to explain why the national debt is a problem.

You have yet to even explain what the national debt is.

You still seem to think the only type of debt is personal. You don't seem to understand much of anything.
 
FelixDeCat said:
Yes, we do need more income but everyone should contribute. A 1% increase on all tax brackets from the bottom to the top.
Click to expand...
How about reversing the Trump tax cuts for a start?

The wealthy are making (and keeping) more than they ever were, and the less well off are making (and keeping) less than they ever were, and you want to do a tax increase across the board? Why?
 
zinfamous said:
You have yet to explain why the national debt is a problem.

You have yet to even explain what the national debt is.

You still seem to think the only type of debt is personal. You don't seem to understand much of anything.
Click to expand...
It is interesting to see all the suffering he wants to inflict on the country yet when asked why this would make things better he can’t answer.
 
Meghan54 said:
Ah....the old "poors need to get skin in the game" crap, eh?

Tell you what, let's take the tax brackets back to what they were before Kennedy. That work for you? That'll certainly increase taxes on everyone... 😉
Click to expand...

So it's not fair that everyone contribute? As far as raising the top tax rates to 90% like it used to be I'm not sure that will have a chance.
 
fskimospy said:
It is interesting to see all the suffering he wants to inflict on the country yet when asked why this would make things better he can’t answer.
Click to expand...

I've already said over and over the reason is to reduce the amount of interest due paid on the balance owed by taxpayers.

Interest rates are considerably higher now.
 
brycejones said:
Let’s just start with he thinks deflation is a desirable outcome.
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Deflation is relative. Look at used car and home prices which are declining rapidly now due to higher rates. You don't see anybody batching about that deflation in prices.

You we are led to believe all deflation is a scary proposition. It is only when it spirals out of control just as inflationary spirals means wages never keep up.
 
FelixDeCat said:
So it's not fair that everyone contribute? As far as raising the top tax rates to 90% like it used to be I'm not sure that will have a chance.
Click to expand...
Everyone does contribute. The share of overall taxes paid as compared to share of national income is about even for all income groups. It’s a bit lower at the bottom and a bit higher at the top, but overall pretty close.

Republicans lie about this constantly to cut taxes on the rich and so they only refer to federal income taxes while ignoring all the other taxes people pay.

So great news, what you want already exists. Happy? (Let me guess, no, now there will be a new excuse)
 
FelixDeCat said:
I've already said over and over the reason is to reduce the amount of interest due paid on the balance owed by taxpayers.

Interest rates are considerably higher now.
Click to expand...
That interest is paid overwhelmingly to American citizens so how does this make us better off?
 
repoman0 said:
Good news for anyone who thinks the interest on the national debt is too damn high! You too can get paid that exorbitant interest rate by the US Govt and its taxpayers. Here you go:

Home — TreasuryDirect

www.treasurydirect.gov www.treasurydirect.gov
Click to expand...
*should have bought ibonds when that thread first popped up on slickdeals, also should have mined eth with my 290 when that thread first popped up on AT*
 
FelixDeCat said:
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.
Click to expand...
Why anyone would think it is not is because we have been running a national debt for 100 years now and nothing at all bad has happened, and we have no real theory on what bad could happen. It is like you see the word debt and panic without ever even thinking about what it means or why you find it scary.
 
FelixDeCat said:
Yes, we do need more income but everyone should contribute. A 1% increase on all tax brackets from the bottom to the top.
Click to expand...

So if someone works and pays Social Security tax isn't that contributing? The US doesn't just take in revenue from Income Tax.
 
SMOGZINN said:
Why anyone would think it is not is because we have been running a national debt for 100 years now and nothing at all bad has happened, and we have no real theory on what bad could happen. It is like you see the word debt and panic without ever even thinking about what it means or why you find it scary.
Click to expand...

Imagine us reducing the debt level vs increasing it for once.

Imagine all the people living in harmony...youwho..may say I'm a dreamer....
 
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