Democrats propose $1.9T increase in debt limit

[Pens1566]

A lot of you apparently failed economics class or didn't take it.

First of all, the the previous president increased spending for 8 years. Obama had to continue that spending, and then some, for the wars and the stimulus.

You know what the government is supposed to do during a recession? Spend money to replace consumer spending. If you're parroting that Ron Paul BS "we can't spend money yak yak yak we're in a recession yak yak yak", it's because you fundamentally misunderstand basic economics. CUTTING spending, a la Hoover, would make the recession WORSE which would REDUCE revenue, which would INCREASE THE DEBT IN THE LONG TERM.


Let me say this again. Cutting spending would make the recession worse. A worse recession means less revenue. Less revenue means higher national debt.

^ this kind of logic and reasoning is not welcome in P&N.

 

[bfdd]

A lot of you apparently failed economics class or didn't take it.

First of all, the the previous president increased spending for 8 years. Obama had to continue that spending, and then some, for the wars and the stimulus.

You know what the government is supposed to do during a recession? Spend money to replace consumer spending. If you're parroting that Ron Paul BS "we can't spend money yak yak yak we're in a recession yak yak yak", it's because you fundamentally misunderstand basic economics. CUTTING spending, a la Hoover, would make the recession WORSE which would REDUCE revenue, which would INCREASE THE DEBT IN THE LONG TERM.


Let me say this again. Cutting spending would make the recession worse. A worse recession means less revenue. Less revenue means higher national debt.

Or maybe we should efficiently spend our money... that might be a better idea then we wouldn't have to raise our debt limit. How is spending MORE and MORE going to help us when it hasn't so far? Because we aren't spending our money properly. I can go spend all the money I have and have nothing to show for it. That's basically what our government has been doing. Responsible spending > irresponsible spending.

 

[Hacp]

A lot of you apparently failed economics class or didn't take it.

First of all, the the previous president increased spending for 8 years. Obama had to continue that spending, and then some, for the wars and the stimulus.

You know what the government is supposed to do during a recession? Spend money to replace consumer spending. If you're parroting that Ron Paul BS "we can't spend money yak yak yak we're in a recession yak yak yak", it's because you fundamentally misunderstand basic economics. CUTTING spending, a la Hoover, would make the recession WORSE which would REDUCE revenue, which would INCREASE THE DEBT IN THE LONG TERM.


Let me say this again. Cutting spending would make the recession worse. A worse recession means less revenue. Less revenue means higher national debt.

We can't spend money. Loook at Japan? They spent a shitload of cash during the lost decade and they didn't get anything in return. Less government spending, less taxes is the way to go.

 

[Mursilis]

Note to all politicians:

Spending money you don't have is not the only way to do things.

But it's the only way to win elections. Try running on a platform of "I'll tax you more" or "I'll give you less" and see how far you get.

 

[soccerballtux]

Is there a set % they can increase this ceiling? Why not just raise it to 20 trillion and in a few year do it again? Has congress ever not raised the ceiling?

No, I do not believe they have.
They wouldn't raise it 20 million, because that would look bad.

 

[soccerballtux]

A lot of you apparently failed economics class or didn't take it.

First of all, the the previous president increased spending for 8 years. Obama had to continue that spending, and then some, for the wars and the stimulus.

You know what the government is supposed to do during a recession? Spend money to replace consumer spending. If you're parroting that Ron Paul BS "we can't spend money yak yak yak we're in a recession yak yak yak", it's because you fundamentally misunderstand basic economics. CUTTING spending, a la Hoover, would make the recession WORSE which would REDUCE revenue, which would INCREASE THE DEBT IN THE LONG TERM.


Let me say this again. Cutting spending would make the recession worse. A worse recession means less revenue. Less revenue means higher national debt.

As the burden of government gets larger, the solution to stimulate is to decrease government size to free up human capital for more efficient endeavors.
Government does little but create more paperwork. We could return to the level of spending we had in 1980 and we'd be perfectly fine.

Start by getting rid of entitlements, then start axing government programs. This is what the Congressional Budget Office has been trying to inform us of-- the problems incoming if we don't do this. Our interest payment is larger than all the money we've spent on Iraq. Further, that's just a red herring/straw man-- it does nothing to accomplish limiting spending now and going forward.