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we may be looking at an addition 6 trillion dollars in spending.

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ondma said:
They may have the arrows; the question is "will they use them?". So far, they really haven't, but that is probably a good thing since the economy needed to be propped up during Covid. As the economy opens up again, though, they may have to. I dont blame Biden alone. We have been flooding money into the financial system (without a concomitant increase in productivity) since the financial collapse at the end of the Bush presidency.
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I don’t know where you are getting that from but they most certainly have been using their tools to keep inflation in check, in fact inflation has been about as stable as can be for a while now. The only reason we are seeing higher inflation now is because companies are ramping up production and essentially everything is on back order (to put it simply) due to their cutbacks during covid.
 
ivwshane said:
I don’t know where you are getting that from but they most certainly have been using their tools to keep inflation in check, in fact inflation has been about as stable as can be for a while now. The only reason we are seeing higher inflation now is because companies are ramping up production and essentially everything is on back order (to put it simply) due to their cutbacks during covid.
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lol they literally JUST had a fed meeting where they stated that inflation is a concern - and they already committed to raising interest rates in 2023 which is why stocks are down this week.

www.cnbc.com

The Fed moves up its timeline for rate hikes as inflation rises

However, the central bank gave no indication as to when it will begin cutting back on its aggressive bond-buying program.
www.cnbc.com www.cnbc.com
 
Can someone help the retard out, he’s struggling with reading comprehension again, although I’m pretty sure he’s trying to beat his score for self owns in a single day.
 
Eh, it's the administration's opening 'bid'. We have been running a deficit of about $1T per year (pre-COVID); with outlays of around $4.5T. So, just to be deficit neutral, we need a $4.5T budget. I haven't figured out what's new in Biden's proposal yet (has anybody? Seems to be in flux). It seems wise to include some stuff republicans want and some sacrificial lambs at the start of negotiations (give some stuff, trim some stuff and get a budget passed - I hope). Personally, I'm sick of CRs.
 
fskimospy said:
Is there any particular reason we have to pay the national debt back?
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I was thinking about this over my lunch break. While conservatives are wringing their hands and moaning about their granbabies lives being ruined by the tremendous debt, I have a solution. Pass everything, the whole shooting match, whatever it takes. Then elect DJT president again in 2024. He promised last time to pay off the deficit with his incredible economic genius, but covid got in the way. I suspect given another 4 years he could git 'er done.
 
fskimospy said:
Is there any particular reason we have to pay the national debt back?
Click to expand...
Reduce long term inflationary pressure. Ensuring control of over the international monetary system (which is basically a western monetary oligarchy). Reducing the potential leverage foreign interests may have over the US as creditor nations (like China). Debt growth is exceeding GDP growth, I would like to find out what other consequences this could have for national stability and security.

Of course, crying about it like the Republicans, who created most of it, is pathetic.
 
Ajay said:
Reducing the potential leverage foreign interests may have over the US as creditor nations (like China).
Click to expand...

About all that “foreign” owned U.S.debt…how much do you think “they” own?

Here’s a help:

According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 7.03 trillion U.S. dollars in U.S. treasury securities as of March 2021. Of the total 7.03 trillion held by foreign countries, Japan and Mainland China held the greatest portions. China held 1.1 trillion U.S. dollars in U.S. securities. Japan held 1.24 trillion U.S. dollars worth. Other foreign holders included oil exporting countries and Caribbean banking centers.

“In 2020, the United States had a total public national debt of 26.95 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008.”

www.statista.com

Major foreign holders treasury securities U.S. 2024| Statista

As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S.
www.statista.com www.statista.com

So, China owns a tad over $1T out of $27T. So how much leverage does that give them, owning 1/27 of our outstanding natl. debt do you think? And China doesn’t even hold the majority of U.S. debt. That’d be the US citizens who hold the VAST majority of our debt.
 
Ajay said:
Reduce long term inflationary pressure. Ensuring control of over the international monetary system (which is basically a western monetary oligarchy). Reducing the potential leverage foreign interests may have over the US as creditor nations (like China). Debt growth is exceeding GDP growth, I would like to find out what other consequences this could have for national stability and security.

Of course, crying about it like the Republicans, who created most of it, is pathetic.
Click to expand...
I can see lowering our debt/GDP ratio for those things but we should never actually pay the debt back - ever.
 
shortylickens said:
the inflation will ruin the country.
It happened in Greece.
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Absolutely not. Greece and the US have nothing to do with one another as US debt is in a currency we control and Greece’s was not.

The US should never pay back its debt, we should roll it over for all eternity. (And this is what we will do)
 
Fenixgoon said:
Infrastructure isn't just bridges, roads, water, and sewage

Off the top of my head:
Medical infrastructure - hospitals, research labs, drug manufacturing
Human infrastructure - schools, daycare, physical and mental health facilities, local resource/training centers
Technological/Communications - data centers, telecom centers, broadband lines

And in case you forgot, the original 2.2T plan did call for a way to pay for it. By raising taxes.
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Once again, someone shows his true commitment to socialism by insisting on being publicly owned.
 
Meghan54 said:
About all that “foreign” owned U.S.debt…how much do you think “they” own?

Here’s a help:

According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 7.03 trillion U.S. dollars in U.S. treasury securities as of March 2021. Of the total 7.03 trillion held by foreign countries, Japan and Mainland China held the greatest portions. China held 1.1 trillion U.S. dollars in U.S. securities. Japan held 1.24 trillion U.S. dollars worth. Other foreign holders included oil exporting countries and Caribbean banking centers.

“In 2020, the United States had a total public national debt of 26.95 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008.”

www.statista.com

Major foreign holders treasury securities U.S. 2024| Statista

As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S.
www.statista.com www.statista.com

So, China owns a tad over $1T out of $27T. So how much leverage does that give them, owning 1/27 of our outstanding natl. debt do you think? And China doesn’t even hold the majority of U.S. debt. That’d be the US citizens who hold the VAST majority of our debt.
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Thanks! That's good to know. I know China has ~$5T in US cash and US bonds- didn't know the ratio.
 
s0me0nesmind1 said:
lol by that logic, just put ANY word before infrastructure, and it's infrastructure!


School lunch infrastructure!
Welfare infrastructure!
Gas pipeline infrastructure!
Media infrastructure!
Travel infrastructure!
Manufacturing infrastructure!
Pest control infrastructure!
Home Improvement infrastructure!

THE POSSIBILITIES ARE EEEEEEEEEEEEENDLESS!!!



And no - while it did contain A tax increase - it was no where remotely close to actually paying for it lol.
Charging $5T to a credit card and offsetting it with a 0.2T credit doesn't mean it's paid for lol.
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Did you seriously just claim gas pipelines aren't infrastructure? WTF are they then?
 
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shortylickens said:
Ok, what specifically was moronic?

Be specific. I'll address specifically.
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Sorry I think I confused you with someone else here who regularly post dumb things. I thought you were both siding the topic and comparing long term if infrastructure investment with the GOP's reckless spending . Looks like I'm the idiot. Sometimes these threads are hard to follow because of ignored posts.

On topic how about we drastically slash military spending and move those dollars into infrastructure? Not that the GOP would ever allow that to happen because it just makes sense.
 
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