Debt Ceiling 2023
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@Aqua-Letifer What the heck is your avatar??? It looks like a cat face in Joker makeup.
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@George-K said in Debt Ceiling 2023:
@Catseye3 it's a red panda, offering its opinion:
Indeed. I don't know why he's wearing what he's wearing, but who understands red pandas anyways.
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@George-K said in Debt Ceiling 2023:
@Catseye3 it's a red panda, offering its opinion:
Indeed. I don't know why he's wearing what he's wearing, but who understands red pandas anyways.
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@Axtremus said in Debt Ceiling 2023:
@Aqua-Letifer said in Debt Ceiling 2023:
Link to video… but who understands red pandas anyways.
Yes, that is indeed a movie that features a red panda.
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Quote from earlier this week:
Former Trump OMB Director, Mick Mulvaney, to @thedispatch: "The truth of the matter is that the first two years of the Trump administration, when the Republicans had the House and the Senate, we raised spending faster than the last couple of years of the Obama administration."
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https://www.cnn.com/2023/01/19/politics/debt-ceiling-deadline-treasury/index.html
The U.S. has hit the debt ceiling. Treasury starting to take "extraordinary measures."
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I think premium bonds are more likely.
But hopefully the threat of them will make the GOP realize their hand is only so strong, and the ugliness of them will make the Dems realize their hand is only so strong, which will lead to some reasonable compromise.
But I’m not sure I’d bet on it.
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I think premium bonds are more likely.
But hopefully the threat of them will make the GOP realize their hand is only so strong, and the ugliness of them will make the Dems realize their hand is only so strong, which will lead to some reasonable compromise.
But I’m not sure I’d bet on it.
@jon-nyc said in Debt Ceiling 2023:
... which will lead to some reasonable compromise.
But what is a reasonable compromise for the "debt ceiling" issue?
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@jon-nyc said in Debt Ceiling 2023:
... which will lead to some reasonable compromise.
But what is a reasonable compromise for the "debt ceiling" issue?
Everyone would have their own definition.
My own definition would be a combination of tax increases and benefit cuts that put us on a 10 year path to keep debt sustainably at 95% of GDP or less. It would have to be a bipartisan deal, since anything else would get undone a few years later.
As I said before, I’m not holding my breath.
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@jon-nyc said in Debt Ceiling 2023:
... which will lead to some reasonable compromise.
But what is a reasonable compromise for the "debt ceiling" issue?
@Axtremus said in Debt Ceiling 2023:
@jon-nyc said in Debt Ceiling 2023:
... which will lead to some reasonable compromise.
But what is a reasonable compromise for the "debt ceiling" issue?
Penny Plan.
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McCarthy says cuts to Social Security and Medicare are off the table.
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Public sentiment:
... Just 26% of Americans adopt McCarthy's position that Congress should allow the government to pay its debts only if the administration agrees to cut federal spending. A broad 65% instead align with Biden's view that the issues of debt payment and federal spending should be handled separately.
Even among Republicans, fewer than half – 48% – support coupling debt payment with cuts in federal spending. ...
... about eight in 10 adults across the political spectrum are concerned about the economic impacts of a default, and being very concerned peaks among Republicans, at 59%.
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I detect a little bias in the phrasing of the question… I wonder how the answers would have looked if you asked “Should the US borrow more money to pay for the debt it has already accrued and can’t pay without making spending cuts?”
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I detect a little bias in the phrasing of the question… I wonder how the answers would have looked if you asked “Should the US borrow more money to pay for the debt it has already accrued and can’t pay without making spending cuts?”
@LuFins-Dad said in Debt Ceiling 2023:
I detect a little bias in the phrasing of the question… I wonder how the answers would have looked if you asked “Should the US borrow more money to pay for the debt it has already accrued and can’t pay without making spending cuts?”
There is also bias in your phrasing, for example, you could have cited "raising taxes" in place of "making spending cuts." It's actually quite lopsided when self-identified conservatives talk only about "spending cuts" as the only alternative to borrowing to deal with the national debt -- they completely overlook the revenue side of the equation, i.e., to raise taxes.
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Of course “cutting spending” in the abstract is quite popular. It sounds like someone else’s sacrifice.
Once you’re specific you find that cuts are generally either unpopular (cut SSA or Medicare) or budgetarily immaterial (zero out “foreign aid”).
"You never know what worse luck your bad luck has saved you from."
-Cormac McCarthy -
Of course “cutting spending” in the abstract is quite popular. It sounds like someone else’s sacrifice.
Once you’re specific you find that cuts are generally either unpopular (cut SSA or Medicare) or budgetarily immaterial (zero out “foreign aid”).
@jon-nyc said in Debt Ceiling 2023:
Of course “cutting spending” in the abstract is quite popular. It sounds like someone else’s sacrifice.
Once you’re specific you find that cuts are generally either unpopular (cut SSA or Medicare) or budgetarily immaterial (zero out “foreign aid”).
Again, a variation of the Penny Plan. Let everybody share in the pain equally. Let Congress then make some hard choices on the allocation of funds.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
