Biden declares himself 'blameless' if US defaults on debt: 'I've done my part'

On one hand, WE KNOW that debt is doing to this country today! And on the other hand we have folks like you reading crystal balls of future telling.

It may be time for folks with crystal balls to tune into the now

 

What is debt doing to this country today ? Making us raise taxes on people who have money to pay for spending that already happened ?

Will this country be better off or worse of if it defaults on national debt ?

 

No crystal ball needed, it happened with GWB following Clinton, and Trump following Obama. In both cases the House GOP forced spending cuts while a Dem was in the WH, only to regain control and then cut taxes and blow up the deficit by spending like drunken sailors. Now, you can pretend like the GOP won't do this next time they are regaining control (could be as early as 2024). Me, I'd rather go with the saying that past performance predicts future performance.

Oh, and don't pretend you won't be cheering tax cuts when the next round of GOP "they'll pay for themselves" B$ comes around.

 

Hahaha...is this Joe is disguise?

 

You are wrong again! As soon as the libbies figure that out, we might have progress.

 

most will blame on Republican as they are the ones holding Americans hostage

 

exactly

 

this says it all

 

I wonder if I called up my creditors and demanded them to increase my credit limit, as I've got some spending to do... if they would capitulate so support my spending spree? I suspect they would tell me to take a long walk off a short bridge.

 

Can Biden raise the debt limit?
Can congress raise it?
So who’s fault is it if it doesn’t get done?

 

Yes, I am sure your creditors would not look kindly to that, or to reducing your revenue (income), while keeping your debt payments the same. However, when the GOP cuts taxes, supposedly it won't affect the national credit card balance, right? So, from that example, we can see that the comparison between the balance sheet of the Federal government and that of a private household is not valid. If it were, cutting taxes (income) would be an absolute no no. I bet you that you voted for the tax cuts and cheered them on, though. So, there is that.

 

Technically speaking, it is congress that controls the power of the purse. Running deficits every single year without fail and thus requiring further raising of the debt ceiling is theoretically their fault. But of course the bully pulpit offered by the presidency tends to cause all decision making for good or ill to be placed on their shoulders.

Not if, but when, the country eventually defaults, the blame will lie with both parties for their continued reckless policies of deficit spending. It never matters who is in office. A trifecta of republicans, or a trifecta of democrats, or a mixed congress / president has continued to produce the same for the last quarter century: higher deficits, and higher debt ceilings.

On this very specific timing of potential for default, blame will lie more on the side of the republican members of congress. They who pretend to actually care about fiscal responsibility, when in actuality are just continuing to play political games to rally their base ahead of the next election cycle. If they in fact cared about fiscal responsibility, they had a perfect chance in 2017-2018. But of course, just like their democratic rivals, their only true lust is their own power and the next election.

 

Blame-shifter in chief, Biden, is a complete narcissist. How can spending money we don't have during a period of high inflation be the fault of anyone but his own? I am so sick of listening to this goof.

 

“my way or I take my toys and go home”. That’s what the Republicans are doing.

 

I'll always support tax cuts and reducing the size of government. Everyone should support that as those are dollars earned by tax payers and we should have a right to keep as much as we've earned. The continued and alarming growth of the federal government should alarm each and everyone of us. I've also proposed simplifying the tax code and eliminating tax loopholes through a consumption/flat tax. That ensures everyone always has skin in the game. However... we know Democrats and Republicans are 100% against this, as they both play the charade and bloviate on tax reform... only to write the same exact policies that we've endured for the last 6 decades!

 

It's the duty of the House to pass a budget. They did that and they raised the debt ceiling. How is it their fault that the POTUS won't do his job?

 

So Congress passed a budget but now isn’t prepared to raise the debt limit to accommodate the spending they authorized.
How is that Biden not doing his job?

 

I think both sides need to come to a realization here! This is absolutely not sustainable and both parties need to stop thinking they are the goods guys in this debate. Both have spent us into oblivion.


https://www.usdebtclock.org/

 

Yeap
https://www.politifact.com/factchecks/list/?category=&ruling=false&speaker=joe-biden

 

Context is missing from the above.

It's irresponsible to blame Trump or the Republicans for the seven trillion added to the deficit. You forgot to mention why it increased? Let me remind you that the major reason for $7 trillion jump was the huge amount of borrowing for the government's response to the global coronavirus pandemic. Do you think this would have been any different if Hillary were in the oval office? Btw, the spending for Covid relief had bipartisan support in Congress. So if you're blaming for the covid relief trillions, put it where it rightfully belongs. On all.

 

Republicans have come to negotiate. Biden has not. He refuses. Demands a clean bill.

I can agree to a clean bill for the debt ceiling if all future bills during this congress are clean bills. All of them. No pork whatsoever. Dems cannot let that happen. They keep buying votes with their spending and it scares them if they cannot buy the vote of the public.

 

They did raise the limit. Biden won't sign it because they also cut spending. That is Biden not doing his job.
https://www.nbcnews.com/politics/co...vote-debt-limit-bill-making-changes-rcna81326

 

Part of the McCarthy bill was to recall unspent COVID funds. Why are Democrats not willing to pull back Trump era dollars that, as you stated, caused a portion of this crisis? ESPECIALLY since those funds have not been spent to date?!

 

Sorry, but you are wrong. They only pay the interest on the debt, and that grows every time they increase it. The last time anything applied to principal was 20 years ago, and that wasn't much. So debt accumulated under Trump, Obama and Bush are still there.
Much of the Trump debt has to do with Covid, which created an exception to normal expenses, increasing the number.

The real issue is if the debt ceiling is anything more than a cosmetic that tries to say Congress is responsible. Given they have raised it 78 times in the last 63 years, I don't see where it's done much to encourage fiscal responsibility. The limit is a good idea- but unless it's respected, it's an illusion, an empty promise to BS the voters. Let's not.... and say we did.

 

And every time it happens, we the people slide closer to the pit Where is your limit to all this debt?