Back To Trillion Dollar Deficits

[21STEELERS21]

https://www.msn.com/en-us/money/mar...highest-level-since-2012/ar-BBZpRHl?ocid=iehp

When you have trillion dollar deficits and unemployment at 3.5% you have a serious problem. And the problem seems to be with the Constitution. It is rather obvious
that current adults and politicians are giving themselves a break on paying taxes at the expense of future generations, by passing the mountains of debt onto them.
You shouldn't be able to pass tax cuts without reducing an equitable amount of government spending to pay for them. Since politicians aren't responsible enough,
since they value getting reelected over the financial health of the nation, it's time for some form of Balanced Budget Amendment. It doesn't have to be in the form of
perfectly balancing every year, but it needs to be strict enough to prevent one generation of Americans from passing their tax burden onto those who can't even vote,
which is what is happening today.

 

[Ron Burgundy]

Not a bad take (for you) but the flaw in your logic is that tax cuts don’t always result in less tax revenue. Often it results in more tax revenue. All spending bills come from the House. Talk to Nancy Pelosi and whoever is chairman of the Ways and Means Committee.

 

[Troglodyte]

Right! If public and private debt are both skyrocketing, how is the economy considered to be great rather than fake?

 

[ZonaBurgh]

Right! If public and private debt are both skyrocketing, how is the economy considered to be great rather than fake?

As far as public debt goes, Mr. Burgundy mentioned that Nancy initially pulls the purse strings, so you may want to start there.

Now, private debt is all together different, if folks can't balance a household budget, well that's on them. I'd suggest tuning in to Dave Ramsey if you can't figure it out for yourself.

Revenue is rarely the issue, it's how it's spent that gets everyone into trouble.

 

[Sarge]

https://www.msn.com/en-us/money/mar...highest-level-since-2012/ar-BBZpRHl?ocid=iehp

When you have trillion dollar deficits and unemployment at 3.5% you have a serious problem. And the problem seems to be with the Constitution. It is rather obvious
that current adults and politicians are giving themselves a break on paying taxes at the expense of future generations, by passing the mountains of debt onto them.
You shouldn't be able to pass tax cuts without reducing an equitable amount of government spending to pay for them. Since politicians aren't responsible enough,
since they value getting reelected over the financial health of the nation, it's time for some form of Balanced Budget Amendment. It doesn't have to be in the form of
perfectly balancing every year, but it needs to be strict enough to prevent one generation of Americans from passing their tax burden onto those who can't even vote,
which is what is happening today.

I suspect you are young. This has been going on forever. That’s how we ended up with a $22 trillion dollar (and counting) deficit. There are politicians that don’t even view it as real money. The problem is spending. Our government constantly outspends revenue. Until that changes, the deficit will only continue to grow.

 

[Djfan]

It pisses me off, to be honest. It needs to stop.

 

[Steelworth]

I suspect you are young. This has been going on forever. That’s how we ended up with a $22 trillion dollar (and counting) deficit. There are politicians that don’t even view it as real money. The problem is spending. Our government constantly outspends revenue. Until that changes, the deficit will only continue to grow.

Yep, it's not like this is something new. Outspend your incoming revenue and voila, you're in debt. Pretty simple stuff. Not that it's not a serious issue, but the government knows and has been doing this for decades.

 

[Spike]

Who cares, we're all gonna die from global warming in 10 years anyway

 

[IndySteel]

In just 8 years alone Obama doubled this country's deficit. He is more to blame that every other President combined. Slash spending.

 

[Vader]

In just 8 years alone Obama doubled this country's deficit. He is more to blame that every other President combined. Slash spending.

He double the national debt and the yearly deficit in his first year. I get tired of people who have no idea what a deficit or the National debt is talking about it.

Not pointing you out because you are correct. But when I read posts talking about the national debt and they are really talking about yearly deficit it makes he want to pull my hair out.

As for 21 he has no idea what he is talking about either. Taxes were high under Obama and the deficit doubled in his first year. Deficits become large when politicians spend more than they have. More taxes doesn't help because they just spend that as well. It has nothing to do with how bad or good the economy is at the time.

BTW 21 would be against cutting anything. He and his ilk want to make bigger deficits and explode the national debt.

 

[IndySteel]

He double the national debt and the yearly deficit in his first year. I get tired of people who have no idea what a deficit or the National debt is talking about it.

Not pointing you out because you are correct. But when I read posts talking about the national debt and they are really talking about yearly deficit it makes he want to pull my hair out.

As for 21 he has no idea what he is talking about either. Taxes were high under Obama and the deficit doubled in his first year. Deficits become large when politicians spend more than they have. More taxes doesn't help because they just spend that as well. It has nothing to do with how bad or good the economy is at the time.

BTW 21 would be against cutting anything. He and his ilk want to make bigger deficits and explode the national debt.

My bad, I meant the national debt. Regardless, he ****** up very badly.

 

[Troglodyte]

Now, private debt is all together different, if folks can't balance a household budget, well that's on them.

Right, some people intentionally live way beyond their means and then file for bankruptcy. You don’t think the cost of that gets shifted to everyone else? Did you live through the Great Recession?

 

[Sarge]

He double the national debt and the yearly deficit in his first year. I get tired of people who have no idea what a deficit or the National debt is talking about it.

Not pointing you out because you are correct. But when I read posts talking about the national debt and they are really talking about yearly deficit it makes he want to pull my hair out.

As for 21 he has no idea what he is talking about either. Taxes were high under Obama and the deficit doubled in his first year. Deficits become large when politicians spend more than they have. More taxes doesn't help because they just spend that as well. It has nothing to do with how bad or good the economy is at the time.

BTW 21 would be against cutting anything. He and his ilk want to make bigger deficits and explode the national debt.

Yeah that’s my bad. I had the word deficit stuck in my head from the title of the post when I said “22 trillion deficit.” 22 trillion is the debt. Annual revenue shortfalls (overspending, really,) create deficits.

 

[Tibs]

At least we have a steady hand at the wheel.

 

[CharlesDavenport]

So trillion dollar plus deficits are ok when the unemployment rate is hovering around 9%?

Regarding spending, you can't use the Constitution to fix stupid people who expect the government to do for them, and accommodating politicians. The perils of democracy. This group of Republicans have been complicit. It's pretty much a one party system regarding budgets. I hope it is reversible. One thing that would help is rolling back the filibuster rules so that it isn't a given that any contentious budget issue requires a super majority.

 

[BLITZ]

It's real easy stop sending $$ to every other country and spend it on this country for 2 years.

 

[Superman]

At least we have a steady hand at the wheel.

so you support swindling people out of their money by using odds against them? regardless, if you read what happened, he essentially got a casino for free from Harrah's:

Harrah’s agreed to provide Mr. Trump, who did not put any additional money into the deal, with $220 million in financing to build the project, to pay him a $24 million construction management fee and to give him half the profits.

.........

The following year, Harrah’s scuttled its partnership with Mr. Trump and sold him its stake in Trump Plaza for more than $220 million.

 

[DBS1970]

The problem isn’t taxes are too low. The problem is that we spend too much. Of course if you believe letting people keep their own money is the issue you probably believe that there is a Social Security “Trust Fund” as well.

 

[ZonaBurgh]

Right, some people intentionally live way beyond their means and then file for bankruptcy. You don’t think the cost of that gets shifted to everyone else? Did you live through the Great Recession?

In a way, you're proving my point. People that are stupid with their money will ultimately face the consequences of those decisions, and yes, bankruptcy is paid for by all of us.

So I guess you would be against the various Democratic candidates that propose eliminating student loans, because that will effect all of us as well, for a hasty decision on the part many students.

And I'm guessing that I've lived through a lot more than you have.

 

[IndySteel]

 

[Badcat]

Everyone High School student should be required to read "Economics In One Lesson" authored by Henry Hazlitt. It covers a wide variety of subjects and he explains it well enough as to not put you to sleep.

 

[Djfan]

Everyone High School student should be required to read "Economics In One Lesson"

And maybe grammar books?

I am a Trump fan. I was a Reagan fan. They both were guilty of overspending. Our economy, being owned by other governments, is a very bad thing.

 

[Badcat]

C'mon DJ, I started down one path and re-thought the sentence hence the gaff. Tough crowd

 

[Djfan]

C'mon DJ, I started down one path and re-thought the sentence hence the gaff. Tough crowd

I just enjoy being that kettle who calls the pot black (with fond regards to my grandmother's gaggle of cliches')

 

[Smash]

Turns out the swamp is much deeper and wider than originally thought 21. I suspect your President will turn his attention to that boondoggle in his next 4 years.