The United States is $222 trillion in debt

Discussion in 'Political Opinions & Beliefs' started by ProgressivePower, Aug 30, 2019.

  1. ECA

    ECA Well-Known Member

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    What are you going on about?
     
  2. dagosa

    dagosa Well-Known Member

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    Well said.
    For some reason, conservatives get amnesia when they forget about the Bush economy and it’s contribution to the Obama debt increase. They don’t seem to understand that the economy of Bush was HANDED to Obama. Like you said, the amnesia will return when the next Dem president lowers the deficit but still has to live with the Trump tax cuts while paying unemployment benefits following another Republican recession. Republicans know as little about the economy as they do about science.
     
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  3. dagosa

    dagosa Well-Known Member

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    “The truth is obama doubled the debt. No bias, just fact.”
    Your statement. Obama had less to do with debt increase then Bush did. The majority of debt increase is from the exponential growth of the compound interest on the accumulated deficits of ALL previous administrations. This, along with the Bush tax cuts and unemployment benefit obligations from the Bush lead recession, is why the debt increased while Obama lowered the yearly deficits . This is way over your head. Now, remark again you don't understand compound interest.
     
    Last edited: Sep 2, 2019
  4. dagosa

    dagosa Well-Known Member

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    That’s total fantasy. Medicare part A and SS benefits DO NOT contribute to the deficit as they are paid from payroll taxes.
    The cuts to Medicare and SS proposed by republicans and opposed by Dems were the major part of your so called increase in Dem spending. While old white republicans keep cutting their own throats by voting their party line, they are definitely demonstrating the in set of old age dementia.
     
  5. Ddyad

    Ddyad Well-Known Member

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    Which begs the question:
    Why aren't the streets paved with gold? We have already payed for it.
     
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  6. ECA

    ECA Well-Known Member

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    I never made that statement.
     
  7. dagosa

    dagosa Well-Known Member

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    My bad for assigning you the previous statement.

    Did you make this statement ?
    The point is, the debt accumulated during an administration is a poor indicator of deficit management. The debt under any administration includes the deficits and compound interests accumulated by ALL previous administrations. Because of this, when only one party lowers the deficits over their time in office while the other party raises them, it’s the party that raises them who is primarily responsible for the economic trajectory of increased debt over time.
    ALL. Administrations need to lower deficits to ever decrease the debt. Even Clinton who balanced the budget, still showed debt increase because of compound interest and exponential growth along with accumulated deficits. To say “ all administrations” increase the debt is a false narrative as no administration can do anything but alter the deficit trend line. That has been predominantly Democrat’s. Neither party cuts spending, but only one party tries to pay the bills in modern times.

    Everyone should give a “ crap” which party pays their bills and decreases deficits. Debt is a poor indicator, especially after recessions as moderate deficits is mandatory to stimulate consume activity, as does any any loan by a small business that stimulates their sales and increases profits and pays down his loan. .
    Tax cuts for the rich ? Never has. It’s a huge deficit, non stimulating activity.
    The party that “provides opportunity” for recessions generally is responsible for increasing debt over time.
     
    Last edited: Sep 2, 2019
  8. ECA

    ECA Well-Known Member

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    No
     
  9. dagosa

    dagosa Well-Known Member

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    So, you didn’t make the statement quoted with your ECA said on top ?
    Peculiar.
     
    Last edited: Sep 2, 2019
  10. ECA

    ECA Well-Known Member

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    How about quoting the actual post where all that was stated. It would be so much easier than going through this dance
     
  11. dagosa

    dagosa Well-Known Member

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    How many gods are you referring to ?
     
  12. ECA

    ECA Well-Known Member

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    Sorry, just saw what you’re referring to. So yes I provided the debt numbers. And?
     
  13. dagosa

    dagosa Well-Known Member

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    How about reading the quotes in green.
     
  14. ECA

    ECA Well-Known Member

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    As many as I have to until you explain what the hell you’re going on about
     
  15. rahl

    rahl Banned

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    All of this has been refuted, as you know.
     
  16. rahl

    rahl Banned

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    Still no idea how bills become law I see, lol
     
  17. rahl

    rahl Banned

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    Bush added more to the debt than Obama did. Republicans almost always do.
     
  18. dagosa

    dagosa Well-Known Member

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    I’m not picking on you in particular, as many mistakenly refer to debt as a single admin. feature as you did. Assigning debt during an administration is a poor indicator of economic competency. It’s a trap. An administration can only try to do one of two things, decrease deficits, or increase them over time in office. They have no economic solution to the accumulated deficits and compound interests of ALL administrations, only the previous.
     
    Last edited: Sep 2, 2019
  19. ECA

    ECA Well-Known Member

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    Yes, I’m quite aware of this. Which is why I have only pointed out that each president has contributed to US debt.
     
  20. squidward

    squidward Well-Known Member

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    By raiding SS
     
  21. Bluesguy

    Bluesguy Well-Known Member Donor

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    I said nothing about Medicare or SS but they both need desperate reforms, the only ones talking of cutting anyone's benefits are the Democrats wanting to means test them.
     
  22. Bluesguy

    Bluesguy Well-Known Member Donor

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    Presidents do NOT control the budgets, Congress has more budget authority that Presidents.
     
  23. dagosa

    dagosa Well-Known Member

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    [
    The fourth largest budget item in the 2018, is the interest in the debt. No presidential budget recommendation has any control over it. The president can propose a balanced budget, and the debt would still go up. Would you say he “contributed” to it ?
     
  24. ECA

    ECA Well-Known Member

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    Also aware. But as you know we always talk about the president owning things like debt, tax cuts, healthcare, etc.
     
  25. ECA

    ECA Well-Known Member

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    Of course not. Any other silly questions?
     

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