The Biden Economy

[donquixote99]

I will note, looking at history, that there appears to be exactly zero interest in the Republican party in actually reducing the deficit, let alone balancing the budget. They just portray this as a crisis when they can blame it on the Democrats.

[finnbow]

Originally Posted by donquixote99

I will note, looking at history, that there appears to be exactly zero interest in the Republican party in actually reducing the deficit, let alone balancing the budget. They just portray this as a crisis when they can blame it on the Democrats.

Indeed not. In power, the GOP consciously does things they know will balloon the deficit only to wail like banshees about the deficit when they are not. It is as disingenuous as it is tiresome and predictable.

[Oerets]

Originally Posted by finnbow

Indeed not. In power, the GOP consciously does things they know will balloon the deficit only to wail like banshees about the deficit when they are not. It is as disingenuous as it is tiresome and predictable.

Makes sense when considered the goal to be bankrupt the country in order to force elimination of entitlements, such as SS and Medicare.

[finnbow]

Originally Posted by Oerets

Makes sense when considered the goal to be bankrupt the country in order to force elimination of entitlements, such as SS and Medicare.

That is exactly the play and has been so for decades.

[Oerets]

Originally Posted by finnbow

That is exactly the play and has been so for decades.

That is how short sighted and selfish along with just plain ignorant. In foolishly thinking it is a good idea no consequences in doing so. Burning down the house down to also then be thinking it will still be a place to live comfortably.

[finnbow]

Originally Posted by Oerets

That is how short sighted and selfish along with just plain ignorant. In foolishly thinking it is a good idea no consequences in doing so. Burning down the house down to also then be thinking it will still be a place to live comfortably.

Feckin’ nihilists. Nearly 25% of the entire national debt — that took over 200 yrs to accumulate — was added by the Trump administration. How did Congress respond? They lifted the debt ceiling 3 times without preconditions.

[whell]

Originally Posted by donquixote99

The bolded part is counter-factual. The spending of federal agencies is constrained by law, the budget is a law. The constitution says (look up the actual language if you want) that nothing goes out of the Treasury unless duly appropriated by congress. Overspending for emergencies must be 'paid for' with legally appropriated funds. A program that goes 'over-budget' cannot legally obligate the government to spend over-budget, until it gets more budget. You are mixing up Fed money supply activities with the funding of federal programs. The Fed does not 'print money' and hand it to federal agencies.

By the way, counter to your informal usage, when I say 'the Fed,' I mean the Federal Reserve Bank, not the federal government agencies collectively.

I don't disagree with your description. But we do manage to run a budget deficit almost every year, with no end in sight.

https://www.timesfreepress.com/news/...news-bad-news/

[whell]

Originally Posted by finnbow

Feckin’ nihilists. Nearly 25% of the entire national debt — that took over 200 yrs to accumulate — was added by the Trump administration. How did Congress respond? They lifted the debt ceiling 3 times without preconditions.

That misleading trope has already been disproven once in this forum. I guess it takes repeating the facts a few more times before it gets through...

https://www.politifact.com/factcheck...-quarter-of-t/

[bobabode]

Quoted from your link, Mike.

"IF YOUR TIME IS SHORT
• Biden’s number is accurate; about one-fourth of the total debt incurred to date came on Trump’s watch."
Sounds like everything that comes after that is horsecrap. What I don't get is why you reflexively defend the naranja nitwit.

Oh well.

[bobabode]

"Our ruling
Biden said that "one quarter" of today’s $31.4 trillion federal debt "was accumulated in the four years of my predecessor."

His number is accurate, but the figure leaves out important details and context..." blah, blah, blah