This the stupid leftist BS that makes me puke.
https://www.dailykos.com/stories/2023/1/31/2150332/-Biden-assigns-McCarthy-budget-homework-in-attempt-to-force-him-to-act-like-a-serious-leader
President Joe Biden and Barely Speaker Kevin McCarthy are set to
meet Wednesday, a meeting that is not going to be a debt ceiling
negotiation. Biden made that very clear Monday, telling CNN that his
message on that is simple: “show me your budget and I’ll show you mine.”
They backed Biden’s position up in the memo, saying that the White
House will release its budget proposal to Congress on March 9.
Would someone explain to Joe that there is actually a law requiring
the president to submit his budget to congress by the first Monday in February every year.
On 2/1/23 12:48 AM, ScottW wrote:
This the stupid leftist BS that makes me puke.
https://www.dailykos.com/stories/2023/1/31/2150332/-Biden-assigns-McCarthy-budget-homework-in-attempt-to-force-him-to-act-like-a-serious-leader
President Joe Biden and Barely Speaker Kevin McCarthy are set to
meet Wednesday, a meeting that is not going to be a debt ceiling negotiation. Biden made that very clear Monday, telling CNN that his message on that is simple: “show me your budget and I’ll show you mine.”
They backed Biden’s position up in the memo, saying that the White
House will release its budget proposal to Congress on March 9.
Would someone explain to Joe that there is actually a law requiringhttps://fiscalnote.com/blog/14-steps-to-the-federal-budget-timeline
the president to submit his budget to congress by the first Monday in February every year.
"When is the Federal Budget Due?
Technically speaking, there is no specific deadline for the federal
budget each year."
When was there last a budget on time?
On Wednesday, February 1, 2023 at 8:44:29 AM UTC-8, MINe109 wrote:
When was there last a budget on time?
Is that your excuse? Why do you think they ended up "Omnibus" bill
that no one has time to analyze before voting on it.
It's always been f'd up is not a reason to keep f'ing it up.
Do you play music like that?
On 2/1/23 12:48 AM, ScottW wrote:
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job
is to raise the debt ceiling to allow the agreed-upon budget to be
carried out.
If McCarthy wants to negotiate a budget, he'll get the chance. His jobWrong. His job is to save us from lunatic overspending by any means necessary.
is to raise the debt ceiling to allow the agreed-upon budget to be
carried out.
Who's a big ol' "zero-summer"? Is it Shmoo scottw, or does he only play on on Usenet?
If McCarthy wants to negotiate a budget, he'll get the chance. His jobWrong. His job is to save us from lunatic overspending by any means necessary.
is to raise the debt ceiling to allow the agreed-upon budget to be carried out.
In the Real World, "overspending" is the net amount between actual spending and
actual revenue. If the revenue is reduced but spending is not, then we have Real overspending. Did Shmoo scottw complain at all when the republigoons
cut revenue dramatically in 2017?
Who's a big ol' "zero-summer"? Is it Shmoo scottw, or does he only play on on Usenet?
If McCarthy wants to negotiate a budget, he'll get the chance. His job is to raise the debt ceiling to allow the agreed-upon budget to be carried out.Wrong. His job is to save us from lunatic overspending by any means necessary.
In the Real World, "overspending" is the net amount between actual spending andFederal tax revenue by year.
actual revenue. If the revenue is reduced but spending is not, then we have Real overspending. Did Shmoo scottw complain at all when the republigoons cut revenue dramatically in 2017?
You remain full of shit.
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote:
On 2/1/23 12:48 AM, ScottW wrote:
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job
is to raise the debt ceiling to allow the agreed-upon budget to be
carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
On 2/1/23 7:39 PM, ScottW wrote:
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote:
On 2/1/23 12:48 AM, ScottW wrote:
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job
is to raise the debt ceiling to allow the agreed-upon budget to be
carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.Lunatic overspending he's already agreed to. Never mind that defaulting
is unnecessary, un-Constitutional and logically incoherent.
And nary a word when the debt ceiling was raised three times under
Trump's lunatic tax cuts.
On Thursday, February 2, 2023 at 8:45:26 AM UTC-8, MINe109 wrote:
On 2/1/23 7:39 PM, ScottW wrote:
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote:Lunatic overspending he's already agreed to. Never mind that defaulting
On 2/1/23 12:48 AM, ScottW wrote:
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job >>>> is to raise the debt ceiling to allow the agreed-upon budget to be
carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
is unnecessary, un-Constitutional and logically incoherent.
And nary a word when the debt ceiling was raised three times under
Trump's lunatic tax cuts.
Nobody is saying the debt ceiling won't be raised.
And since debt service costs are not yet over 100% of receipts,
talk of default is just stupid silly scary talk even the ceiling isn't raised.
The discussion is how to slow or maybe even one day reverse debt growth.No, that should happen at the budget level.
On 2/2/23 12:28 PM, ScottW wrote:
On Thursday, February 2, 2023 at 8:45:26 AM UTC-8, MINe109 wrote:
On 2/1/23 7:39 PM, ScottW wrote:
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote:Lunatic overspending he's already agreed to. Never mind that defaulting
On 2/1/23 12:48 AM, ScottW wrote:
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job >>>> is to raise the debt ceiling to allow the agreed-upon budget to be
carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
is unnecessary, un-Constitutional and logically incoherent.
And nary a word when the debt ceiling was raised three times under
Trump's lunatic tax cuts.
Nobody is saying the debt ceiling won't be raised.The prospect was enough to downgrade the US credit rating in 2011.
And since debt service costs are not yet over 100% of receipts,
talk of default is just stupid silly scary talk even the ceiling isn't raised.
The discussion is how to slow or maybe even one day reverse debt growth.No, that should happen at the budget level.
On Thursday, February 2, 2023 at 11:38:36 AM UTC-8, MINe109 wrote:
On 2/2/23 12:28 PM, ScottW wrote:
On Thursday, February 2, 2023 at 8:45:26 AM UTC-8, MINe109 wrote:The prospect was enough to downgrade the US credit rating in 2011.
On 2/1/23 7:39 PM, ScottW wrote:
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote: >>>>>> On 2/1/23 12:48 AM, ScottW wrote:Lunatic overspending he's already agreed to. Never mind that defaulting >>>> is unnecessary, un-Constitutional and logically incoherent.
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job >>>>>> is to raise the debt ceiling to allow the agreed-upon budget to be >>>>>> carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
And nary a word when the debt ceiling was raised three times under
Trump's lunatic tax cuts.
Nobody is saying the debt ceiling won't be raised.
And since debt service costs are not yet over 100% of receipts,
talk of default is just stupid silly scary talk even the ceiling isn't raised.
https://www.bbc.com/news/world-us-canada-14428930
S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.
The agency said the deficit reduction plan passed by the US Congress on Tuesday did not go far enough.
The discussion is how to slow or maybe even one day reverse debt growth.No, that should happen at the budget level.
BS....Time for horse trading is now and really always.
On 2/2/23 9:06 PM, ScottW wrote:
On Thursday, February 2, 2023 at 11:38:36 AM UTC-8, MINe109 wrote:
On 2/2/23 12:28 PM, ScottW wrote:
On Thursday, February 2, 2023 at 8:45:26 AM UTC-8, MINe109 wrote:The prospect was enough to downgrade the US credit rating in 2011.
On 2/1/23 7:39 PM, ScottW wrote:
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote: >>>>>> On 2/1/23 12:48 AM, ScottW wrote:Lunatic overspending he's already agreed to. Never mind that defaulting >>>> is unnecessary, un-Constitutional and logically incoherent.
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job >>>>>> is to raise the debt ceiling to allow the agreed-upon budget to be >>>>>> carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
And nary a word when the debt ceiling was raised three times under
Trump's lunatic tax cuts.
Nobody is saying the debt ceiling won't be raised.
And since debt service costs are not yet over 100% of receipts,
talk of default is just stupid silly scary talk even the ceiling isn't raised.
https://www.bbc.com/news/world-us-canada-14428930
S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.https://money.cnn.com/2011/07/14/news/economy/debt_ceiling_credit_warning/index.htm?iid=EL
A downgrade could come
for one of three reasons, S&P explained:
-- If Congress and the administration fail to come up with a "credible solution" to U.S. debt and show no signs of agreeing on one in the foreseeable future.
On Saturday, February 4, 2023 at 7:06:48 AM UTC-8, MINe109 wrote:
On 2/2/23 9:06 PM, ScottW wrote:
On Thursday, February 2, 2023 at 11:38:36 AM UTC-8, MINe109 wrote:https://money.cnn.com/2011/07/14/news/economy/debt_ceiling_credit_warning/index.htm?iid=EL
On 2/2/23 12:28 PM, ScottW wrote:
On Thursday, February 2, 2023 at 8:45:26 AM UTC-8, MINe109 wrote:The prospect was enough to downgrade the US credit rating in 2011.
On 2/1/23 7:39 PM, ScottW wrote:
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote: >>>>>>>> On 2/1/23 12:48 AM, ScottW wrote:Lunatic overspending he's already agreed to. Never mind that defaulting >>>>>> is unnecessary, un-Constitutional and logically incoherent.
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job >>>>>>>> is to raise the debt ceiling to allow the agreed-upon budget to be >>>>>>>> carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
And nary a word when the debt ceiling was raised three times under >>>>>> Trump's lunatic tax cuts.
Nobody is saying the debt ceiling won't be raised.
And since debt service costs are not yet over 100% of receipts,
talk of default is just stupid silly scary talk even the ceiling isn't raised.
https://www.bbc.com/news/world-us-canada-14428930
S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.
A downgrade could come
and then it did come and they clearly stated why.
for one of three reasons, S&P explained:
-- If Congress and the administration fail to come up with a "credible
solution" to U.S. debt and show no signs of agreeing on one in the
foreseeable future.
and this includes runaway spending.
On 2/4/23 12:04 PM, ScottW wrote:
On Saturday, February 4, 2023 at 7:06:48 AM UTC-8, MINe109 wrote:
On 2/2/23 9:06 PM, ScottW wrote:
On Thursday, February 2, 2023 at 11:38:36 AM UTC-8, MINe109 wrote:https://money.cnn.com/2011/07/14/news/economy/debt_ceiling_credit_warning/index.htm?iid=EL
On 2/2/23 12:28 PM, ScottW wrote:
On Thursday, February 2, 2023 at 8:45:26 AM UTC-8, MINe109 wrote: >>>>>> On 2/1/23 7:39 PM, ScottW wrote:The prospect was enough to downgrade the US credit rating in 2011.
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote: >>>>>>>> On 2/1/23 12:48 AM, ScottW wrote:Lunatic overspending he's already agreed to. Never mind that defaulting
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job
is to raise the debt ceiling to allow the agreed-upon budget to be >>>>>>>> carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
is unnecessary, un-Constitutional and logically incoherent.
And nary a word when the debt ceiling was raised three times under >>>>>> Trump's lunatic tax cuts.
Nobody is saying the debt ceiling won't be raised.
And since debt service costs are not yet over 100% of receipts,
talk of default is just stupid silly scary talk even the ceiling isn't raised.
https://www.bbc.com/news/world-us-canada-14428930
S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.
A downgrade could come
and then it did come and they clearly stated why.Indeed they did:
https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade,”
On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote:
On 2/4/23 12:04 PM, ScottW wrote:
On Saturday, February 4, 2023 at 7:06:48 AM UTC-8, MINe109 wrote:Indeed they did:
On 2/2/23 9:06 PM, ScottW wrote:
On Thursday, February 2, 2023 at 11:38:36 AM UTC-8, MINe109 wrote:https://money.cnn.com/2011/07/14/news/economy/debt_ceiling_credit_warning/index.htm?iid=EL
On 2/2/23 12:28 PM, ScottW wrote:
On Thursday, February 2, 2023 at 8:45:26 AM UTC-8, MINe109 wrote: >>>>>>>> On 2/1/23 7:39 PM, ScottW wrote:The prospect was enough to downgrade the US credit rating in 2011.
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote: >>>>>>>>>> On 2/1/23 12:48 AM, ScottW wrote:Lunatic overspending he's already agreed to. Never mind that defaulting
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job
is to raise the debt ceiling to allow the agreed-upon budget to be >>>>>>>>>> carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
is unnecessary, un-Constitutional and logically incoherent.
And nary a word when the debt ceiling was raised three times under >>>>>>>> Trump's lunatic tax cuts.
Nobody is saying the debt ceiling won't be raised.
And since debt service costs are not yet over 100% of receipts,
talk of default is just stupid silly scary talk even the ceiling isn't raised.
https://www.bbc.com/news/world-us-canada-14428930
S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.
A downgrade could come
and then it did come and they clearly stated why.
https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general
government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.
It's not rocket science....except for you.
On 2/4/23 6:17 PM, ScottW wrote:
On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote:
On 2/4/23 12:04 PM, ScottW wrote:
On Saturday, February 4, 2023 at 7:06:48 AM UTC-8, MINe109 wrote:Indeed they did:
On 2/2/23 9:06 PM, ScottW wrote:
On Thursday, February 2, 2023 at 11:38:36 AM UTC-8, MINe109 wrote: >>>>>> On 2/2/23 12:28 PM, ScottW wrote:https://money.cnn.com/2011/07/14/news/economy/debt_ceiling_credit_warning/index.htm?iid=EL
https://www.bbc.com/news/world-us-canada-14428930On Thursday, February 2, 2023 at 8:45:26 AM UTC-8, MINe109 wrote: >>>>>>>> On 2/1/23 7:39 PM, ScottW wrote:The prospect was enough to downgrade the US credit rating in 2011. >>>>>
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote:Lunatic overspending he's already agreed to. Never mind that defaulting
On 2/1/23 12:48 AM, ScottW wrote:
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job
is to raise the debt ceiling to allow the agreed-upon budget to be
carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
is unnecessary, un-Constitutional and logically incoherent. >>>>>>>>
And nary a word when the debt ceiling was raised three times under >>>>>>>> Trump's lunatic tax cuts.
Nobody is saying the debt ceiling won't be raised.
And since debt service costs are not yet over 100% of receipts, >>>>>>> talk of default is just stupid silly scary talk even the ceiling isn't raised.
S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.
A downgrade could come
and then it did come and they clearly stated why.
https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed >> by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short >> of the amount that we believe is necessary to stabilize the general
government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.And cause a recession that lowers revenue? How about "raise taxes"?
S&P: "Compared with previous projections, our revised base case scenario
now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because
the majority of Republicans in Congress continue to resist any measure
that would raise revenues, a position we believe Congress reinforced by passing the act."
Of course, the Treasury said S&P's math was off by 2 trillion dollars.
It's not rocket science....except for you.Raise the bridge, lower the river, whatever.
You could just look at the debt as % of GDP
On Saturday, February 4, 2023 at 4:46:33 PM UTC-8, MINe109 wrote:
On 2/4/23 6:17 PM, ScottW wrote:
On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote:And cause a recession that lowers revenue? How about "raise taxes"?
On 2/4/23 12:04 PM, ScottW wrote:
On Saturday, February 4, 2023 at 7:06:48 AM UTC-8, MINe109 wrote:Indeed they did:
On 2/2/23 9:06 PM, ScottW wrote:
On Thursday, February 2, 2023 at 11:38:36 AM UTC-8, MINe109 wrote: >>>>>>>> On 2/2/23 12:28 PM, ScottW wrote:https://money.cnn.com/2011/07/14/news/economy/debt_ceiling_credit_warning/index.htm?iid=EL
https://www.bbc.com/news/world-us-canada-14428930On Thursday, February 2, 2023 at 8:45:26 AM UTC-8, MINe109 wrote: >>>>>>>>>> On 2/1/23 7:39 PM, ScottW wrote:The prospect was enough to downgrade the US credit rating in 2011. >>>>>>>
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote: >>>>>>>>>>>> On 2/1/23 12:48 AM, ScottW wrote:Lunatic overspending he's already agreed to. Never mind that defaulting
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job
is to raise the debt ceiling to allow the agreed-upon budget to be >>>>>>>>>>>> carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
is unnecessary, un-Constitutional and logically incoherent. >>>>>>>>>>
And nary a word when the debt ceiling was raised three times under >>>>>>>>>> Trump's lunatic tax cuts.
Nobody is saying the debt ceiling won't be raised.
And since debt service costs are not yet over 100% of receipts, >>>>>>>>> talk of default is just stupid silly scary talk even the ceiling isn't raised.
S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.
A downgrade could come
and then it did come and they clearly stated why.
https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed >>>> by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short >>>> of the amount that we believe is necessary to stabilize the general
government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.
That can also cause a recession that lowers revenue.
Managing the economy is hard enough without walking a cliff's edge of massive debt too.
S&P: "Compared with previous projections, our revised base case scenario
now assumes that the 2001 and 2003 tax cuts, due to expire by the end of
2012, remain in place. We have changed our assumption on this because
the majority of Republicans in Congress continue to resist any measure
that would raise revenues, a position we believe Congress reinforced by
passing the act."
Of course, the Treasury said S&P's math was off by 2 trillion dollars.
It's not rocket science....except for you.Raise the bridge, lower the river, whatever.
You could just look at the debt as % of GDP and see under who's watch it really
rose.
https://fred.stlouisfed.org/series/GFDEGDQ188S
On 2/5/23 10:37 AM, ScottW wrote:
On Saturday, February 4, 2023 at 4:46:33 PM UTC-8, MINe109 wrote:
On 2/4/23 6:17 PM, ScottW wrote:
On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote:And cause a recession that lowers revenue? How about "raise taxes"?
On 2/4/23 12:04 PM, ScottW wrote:
On Saturday, February 4, 2023 at 7:06:48 AM UTC-8, MINe109 wrote: >>>>>> On 2/2/23 9:06 PM, ScottW wrote:Indeed they did:
On Thursday, February 2, 2023 at 11:38:36 AM UTC-8, MINe109 wrote: >>>>>>>> On 2/2/23 12:28 PM, ScottW wrote:https://money.cnn.com/2011/07/14/news/economy/debt_ceiling_credit_warning/index.htm?iid=EL
https://www.bbc.com/news/world-us-canada-14428930On Thursday, February 2, 2023 at 8:45:26 AM UTC-8, MINe109 wrote: >>>>>>>>>> On 2/1/23 7:39 PM, ScottW wrote:The prospect was enough to downgrade the US credit rating in 2011. >>>>>>>
On Wednesday, February 1, 2023 at 11:19:19 AM UTC-8, MINe109 wrote:Lunatic overspending he's already agreed to. Never mind that defaulting
On 2/1/23 12:48 AM, ScottW wrote:
This the stupid leftist BS that makes me puke.If McCarthy wants to negotiate a budget, he'll get the chance. His job
is to raise the debt ceiling to allow the agreed-upon budget to be
carried out.
Wrong. His job is to save us from lunatic overspending by any means necessary.
is unnecessary, un-Constitutional and logically incoherent. >>>>>>>>>>
And nary a word when the debt ceiling was raised three times under
Trump's lunatic tax cuts.
Nobody is saying the debt ceiling won't be raised.
And since debt service costs are not yet over 100% of receipts, >>>>>>>>> talk of default is just stupid silly scary talk even the ceiling isn't raised.
S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.
A downgrade could come
and then it did come and they clearly stated why.
https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general >>>> government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.
That can also cause a recession that lowers revenue.You mean it would be better to continue as Obama proposed? It did work, beginning a recovery that lasted until the pandemic.
Managing the economy is hard enough without walking a cliff's edge of massive debt too.Easier to do without Republicans trying to default on that debt.
S&P: "Compared with previous projections, our revised base case scenario >> now assumes that the 2001 and 2003 tax cuts, due to expire by the end of >> 2012, remain in place. We have changed our assumption on this because
the majority of Republicans in Congress continue to resist any measure
that would raise revenues, a position we believe Congress reinforced by >> passing the act."
Of course, the Treasury said S&P's math was off by 2 trillion dollars. >>> It's not rocket science....except for you.
Raise the bridge, lower the river, whatever.
You could just look at the debt as % of GDP and see under who's watch it really
rose.
https://fred.stlouisfed.org/series/GFDEGDQ188STurns out that level of debt is manageable.
And when Republicans have a
chance to really do something about debt, they do massive tax cuts:
https://washingtonmonthly.com/2011/09/14/remember-deficits-dont-matter-cheney-doesnt/
On Sunday, February 5, 2023 at 10:31:32 AM UTC-8, MINe109 wrote:
On 2/5/23 10:37 AM, ScottW wrote:
On Saturday, February 4, 2023 at 4:46:33 PM UTC-8, MINe109 wrote:
On 2/4/23 6:17 PM, ScottW wrote:
On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote:
And cause a recession that lowers revenue? How about "raise taxes"?https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general >>>> government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.
A recovery that Trumps tax cuts kicked into high gear.That can also cause a recession that lowers revenue.You mean it would be better to continue as Obama proposed? It did work, beginning a recovery that lasted until the pandemic.
Which resulted in the record revenues just before the pandemic?
We can't know for sure.....but given that the general public disposable income
also rose while gov't revenues hit records, I'll go with that result.
And there ya go....Stupid BS talk that makes any real discussion difficult.Managing the economy is hard enough without walking a cliff's edge of massive debt too.Easier to do without Republicans trying to default on that debt.
S&P: "Compared with previous projections, our revised base case scenario
now assumes that the 2001 and 2003 tax cuts, due to expire by the end of
2012, remain in place. We have changed our assumption on this because >> the majority of Republicans in Congress continue to resist any measure >> that would raise revenues, a position we believe Congress reinforced by >> passing the act."
Of course, the Treasury said S&P's math was off by 2 trillion dollars. >>> It's not rocket science....except for you.
Raise the bridge, lower the river, whatever.
You could just look at the debt as % of GDP and see under who's watch it really
rose.
I see you couldn't handle the data and what it showed as to which admins spiked the debt.https://fred.stlouisfed.org/series/GFDEGDQ188STurns out that level of debt is manageable.
Anyway, you can't say that with a straight face. This is not an overnight solution.revenues by 2052.
CBO projections
The growth in interest costs presents a significant challenge in the long-term as well. According to CBO’s projections, interest payments would total around $66 trillion over the next 30 years and would take up nearly 40 percent of all federal
Is that acceptable to you? If not...now is the time to start addressing it as you can't just flick a switch
in the budget and have any real impact on cost of debt service for decades to come.
And when Republicans have a
chance to really do something about debt, they do massive tax cuts:
https://washingtonmonthly.com/2011/09/14/remember-deficits-dont-matter-cheney-doesnt/Oh look...you're in bed with Dick Cheney. That's gotta hurt.
Anyway, we'd all wish for the national debt in the years of Cheney...what was it then,
about half as percent of GDP it is now?
On Sunday, February 5, 2023 at 6:25:22 PM UTC-6, ScottW wrote:
On Sunday, February 5, 2023 at 10:31:32 AM UTC-8, MINe109 wrote:
On 2/5/23 10:37 AM, ScottW wrote:
On Saturday, February 4, 2023 at 4:46:33 PM UTC-8, MINe109 wrote:
On 2/4/23 6:17 PM, ScottW wrote:
On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote:
And cause a recession that lowers revenue? How about "raise taxes"?https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general >>>> government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.
If by "kicked into high gear" you mean "continue the rate of Obama's second term," sure.A recovery that Trumps tax cuts kicked into high gear.That can also cause a recession that lowers revenue.You mean it would be better to continue as Obama proposed? It did work, beginning a recovery that lasted until the pandemic.
On Monday, February 6, 2023 at 10:12:26 AM UTC-8, MINe109 wrote:
On Sunday, February 5, 2023 at 6:25:22 PM UTC-6, ScottW wrote:
On Sunday, February 5, 2023 at 10:31:32 AM UTC-8, MINe109 wrote:If by "kicked into high gear" you mean "continue the rate of Obama's second term," sure.
On 2/5/23 10:37 AM, ScottW wrote:
On Saturday, February 4, 2023 at 4:46:33 PM UTC-8, MINe109 wrote:
On 2/4/23 6:17 PM, ScottW wrote:
On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote:
A recovery that Trumps tax cuts kicked into high gear.You mean it would be better to continue as Obama proposed? It did work, >>>> beginning a recovery that lasted until the pandemic.That can also cause a recession that lowers revenue.And cause a recession that lowers revenue? How about "raise taxes"? >>>>>https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general >>>>>>>> government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.
Obama's last year was 1.67%. Trump doubled it before covid hit.
Your revision of history is laughable.
It's really not worth time constantly refuting your fantasies.
On 2/6/23 4:29 PM, ScottW wrote:
On Monday, February 6, 2023 at 10:12:26 AM UTC-8, MINe109 wrote:
On Sunday, February 5, 2023 at 6:25:22 PM UTC-6, ScottW wrote:
On Sunday, February 5, 2023 at 10:31:32 AM UTC-8, MINe109 wrote:If by "kicked into high gear" you mean "continue the rate of Obama's second term," sure.
On 2/5/23 10:37 AM, ScottW wrote:A recovery that Trumps tax cuts kicked into high gear.
On Saturday, February 4, 2023 at 4:46:33 PM UTC-8, MINe109 wrote: >>>>>> On 2/4/23 6:17 PM, ScottW wrote:You mean it would be better to continue as Obama proposed? It did work, >>>> beginning a recovery that lasted until the pandemic.
That can also cause a recession that lowers revenue.On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote: >>And cause a recession that lowers revenue? How about "raise taxes"? >>>>>
https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general >>>>>>>> government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.
Obama's last year was 1.67%. Trump doubled it before covid hit.
Your revision of history is laughable.
It's really not worth time constantly refuting your fantasies.It's definitely worth my time to refute yours.
https://www.nbcnews.com/politics/politics-news/fact-check-economy-booming-who-gets-credit-trump-or-obama-n908286
"Economists aren't buying it: While the tax cuts probably helped inject
some cash into the economy — particularly the stock market — the country has largely maintained the growth it saw under Obama.
On Tuesday, February 7, 2023 at 7:36:10 AM UTC-8, MINe109 wrote:
On 2/6/23 4:29 PM, ScottW wrote:
On Monday, February 6, 2023 at 10:12:26 AM UTC-8, MINe109 wrote:It's definitely worth my time to refute yours.
On Sunday, February 5, 2023 at 6:25:22 PM UTC-6, ScottW wrote:
On Sunday, February 5, 2023 at 10:31:32 AM UTC-8, MINe109 wrote:If by "kicked into high gear" you mean "continue the rate of Obama's second term," sure.
On 2/5/23 10:37 AM, ScottW wrote:A recovery that Trumps tax cuts kicked into high gear.
On Saturday, February 4, 2023 at 4:46:33 PM UTC-8, MINe109 wrote: >>>>>>>> On 2/4/23 6:17 PM, ScottW wrote:You mean it would be better to continue as Obama proposed? It did work, >>>>>> beginning a recovery that lasted until the pandemic.
That can also cause a recession that lowers revenue.On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote: >>>>And cause a recession that lowers revenue? How about "raise taxes"? >>>>>>>
https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general >>>>>>>>>> government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.
Obama's last year was 1.67%. Trump doubled it before covid hit.
Your revision of history is laughable.
It's really not worth time constantly refuting your fantasies.
https://www.nbcnews.com/politics/politics-news/fact-check-economy-booming-who-gets-credit-trump-or-obama-n908286
"Economists aren't buying it: While the tax cuts probably helped inject
some cash into the economy — particularly the stock market — the country >> has largely maintained the growth it saw under Obama.
Why do you always ignore the facts and turn to pure dem propaganda when it suits you.
From your cite..."Trump inherited a booming economy".
I quit reading when the source calls 1.67% growth (below Fed target for a healthy economy)
booming.
If you want to complain that Trump overhypes his accomplishments...I'll give you that.
But you do the exact same and then some calling Obama's "booming".
On 2/7/23 10:40 AM, ScottW wrote:
On Tuesday, February 7, 2023 at 7:36:10 AM UTC-8, MINe109 wrote:
On 2/6/23 4:29 PM, ScottW wrote:
On Monday, February 6, 2023 at 10:12:26 AM UTC-8, MINe109 wrote:It's definitely worth my time to refute yours.
On Sunday, February 5, 2023 at 6:25:22 PM UTC-6, ScottW wrote:
On Sunday, February 5, 2023 at 10:31:32 AM UTC-8, MINe109 wrote: >>>>>> On 2/5/23 10:37 AM, ScottW wrote:If by "kicked into high gear" you mean "continue the rate of Obama's second term," sure.
A recovery that Trumps tax cuts kicked into high gear.On Saturday, February 4, 2023 at 4:46:33 PM UTC-8, MINe109 wrote: >>>>>>>> On 2/4/23 6:17 PM, ScottW wrote:You mean it would be better to continue as Obama proposed? It did work,
That can also cause a recession that lowers revenue.On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote: >>>>And cause a recession that lowers revenue? How about "raise taxes"? >>>>>>>
https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general
government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.
beginning a recovery that lasted until the pandemic.
Obama's last year was 1.67%. Trump doubled it before covid hit.
Your revision of history is laughable.
It's really not worth time constantly refuting your fantasies.
https://www.nbcnews.com/politics/politics-news/fact-check-economy-booming-who-gets-credit-trump-or-obama-n908286
"Economists aren't buying it: While the tax cuts probably helped inject >> some cash into the economy — particularly the stock market — the country
has largely maintained the growth it saw under Obama.
Why do you always ignore the facts and turn to pure dem propaganda when it suits you.It's NBC, not "dem propaganda" and I didn't cite that part.
From your cite..."Trump inherited a booming economy".
On Tuesday, February 7, 2023 at 12:19:35 PM UTC-8, MINe109 wrote:
On 2/7/23 10:40 AM, ScottW wrote:
On Tuesday, February 7, 2023 at 7:36:10 AM UTC-8, MINe109 wrote:It's NBC, not "dem propaganda" and I didn't cite that part.
On 2/6/23 4:29 PM, ScottW wrote:
On Monday, February 6, 2023 at 10:12:26 AM UTC-8, MINe109 wrote:It's definitely worth my time to refute yours.
On Sunday, February 5, 2023 at 6:25:22 PM UTC-6, ScottW wrote:
On Sunday, February 5, 2023 at 10:31:32 AM UTC-8, MINe109 wrote: >>>>>>>> On 2/5/23 10:37 AM, ScottW wrote:If by "kicked into high gear" you mean "continue the rate of Obama's second term," sure.
A recovery that Trumps tax cuts kicked into high gear.On Saturday, February 4, 2023 at 4:46:33 PM UTC-8, MINe109 wrote: >>>>>>>>>> On 2/4/23 6:17 PM, ScottW wrote:You mean it would be better to continue as Obama proposed? It did work,
That can also cause a recession that lowers revenue.On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote: >>>>>>And cause a recession that lowers revenue? How about "raise taxes"? >>>>>>>>>
https://sgp.fas.org/crs/misc/R41955.pdf
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general
government debt burden by the middle of the decade,”
Exactly, and how would you do that? Cut spending.
beginning a recovery that lasted until the pandemic.
Obama's last year was 1.67%. Trump doubled it before covid hit.
Your revision of history is laughable.
It's really not worth time constantly refuting your fantasies.
https://www.nbcnews.com/politics/politics-news/fact-check-economy-booming-who-gets-credit-trump-or-obama-n908286
"Economists aren't buying it: While the tax cuts probably helped inject >>>> some cash into the economy — particularly the stock market — the country
has largely maintained the growth it saw under Obama.
Why do you always ignore the facts and turn to pure dem propaganda when it suits you.
From your cite..."Trump inherited a booming economy".
LoL. It's dem BS and you can't deny it.
I'm over the dueling versions of history.
We'll get than enough of that BS tonight.
Fortunately, the vast majority of Americans still trust their own eyes
and aren't happy with what they see.
On 2/7/23 5:42 PM, ScottW wrote:
On Tuesday, February 7, 2023 at 12:19:35 PM UTC-8, MINe109 wrote:
On 2/7/23 10:40 AM, ScottW wrote:
On Tuesday, February 7, 2023 at 7:36:10 AM UTC-8, MINe109 wrote:It's NBC, not "dem propaganda" and I didn't cite that part.
On 2/6/23 4:29 PM, ScottW wrote:
On Monday, February 6, 2023 at 10:12:26 AM UTC-8, MINe109 wrote: >>>>>> On Sunday, February 5, 2023 at 6:25:22 PM UTC-6, ScottW wrote: >>>>>>> On Sunday, February 5, 2023 at 10:31:32 AM UTC-8, MINe109 wrote: >>>>>>>> On 2/5/23 10:37 AM, ScottW wrote:It's definitely worth my time to refute yours.
If by "kicked into high gear" you mean "continue the rate of Obama's second term," sure.On Saturday, February 4, 2023 at 4:46:33 PM UTC-8, MINe109 wrote: >>>>>>>>>> On 2/4/23 6:17 PM, ScottW wrote:
On Saturday, February 4, 2023 at 12:28:50 PM UTC-8, MINe109 wrote:
A recovery that Trumps tax cuts kicked into high gear.You mean it would be better to continue as Obama proposed? It did work,And cause a recession that lowers revenue? How about "raise taxes"?https://sgp.fas.org/crs/misc/R41955.pdfExactly, and how would you do that? Cut spending.
In the view of S&P’s analysts, the recent debt ceiling agreement passed
by Congress (P.L. 112-25, the Budget Control Act of 2011) “falls short
of the amount that we believe is necessary to stabilize the general
government debt burden by the middle of the decade,” >>>>>>>>>>>
That can also cause a recession that lowers revenue.
beginning a recovery that lasted until the pandemic.
Obama's last year was 1.67%. Trump doubled it before covid hit.
Your revision of history is laughable.
It's really not worth time constantly refuting your fantasies.
https://www.nbcnews.com/politics/politics-news/fact-check-economy-booming-who-gets-credit-trump-or-obama-n908286
"Economists aren't buying it: While the tax cuts probably helped inject >>>> some cash into the economy — particularly the stock market — the country
has largely maintained the growth it saw under Obama.
Why do you always ignore the facts and turn to pure dem propaganda when it suits you.
From your cite..."Trump inherited a booming economy".
LoL. It's dem BS and you can't deny it.Can and do. I can also point out it's a small contribution to a longer
piece that puts the Obama-Trump economy in perspective. Throw out that
one word and you have nothing to complain about.
I'm over the dueling versions of history.As you should be. The Obama-Trump recovery is a steady rise.
https://www.forbes.com/sites/chuckjones/2020/02/17/obamas-2009-recovery-act-kicked-off-over-10-years-of-economic-growth/?sh=7ec3cf7c68b7
"Starting with the September 2009 quarter GDP growth has been positive
every year since then. It ranged from 1.6% to 2.9% per year under Obama
and from 2.3% to 2.9% under Trump...
Each of the last three years of Obama’s economy were stronger than Trump’s 2019 when adjusted for trade, inventory impacts and government spending."
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