The U.S. national debt exceeded $33 trillion for the first time ever

[Lightbringer]

Recommended:

I love that tune.

 

[Hawkeye10]

I adore Cunts, but they should never imagine that they are better than me.

That tends to be painful.

I can only say that because DAMO runs a Free Mind/Free Speech joint.

 

[Hawkeye10]

For the moment.

 

[Lightbringer]

I like Jordan Peterson.

Tell me you're an idiot without saying you're an idiot.

 

[Into the Night]

Which means he eliminated a good portion of it

Nope. Not even a good portion of it.

 

[Into the Night]

Or, I could ask you to at least sit for Econ 101.

Trust me, you don't know what the fuck you're talking about.

He generally does. The economy is not a class.

 

[Into the Night]

If it is 1 million it is too much

The debt is $33 trillion. Why Lightbringer is trying to justify or minimize this foolishness is very strange.

 

[Into the Night]

I disagree. With no debt you have no flexibility,

Debt is not flexibility. It is the exact opposite.

 

[Into the Night]

The budget deadline? Are you fucking kidding? They haven't done a proper budget in over 15 years. You haven't been paying attention?

It has nothing to do with a 'proper' budget.

 

[Into the Night]

No, we aren't. You think we're $33T in debt. We aren't.

The 'federal' government is $33 trillion in debt.

 

[Into the Night]

We are too far in debt. Congress needs to do their job

They can't. There is no way to pay this debt. All Congress can do now is try to paper it over by printing money, which destroys the currency.
They're really out of options.

 

[Into the Night]

The whole point of The Fed and the CBO is to not let Congress do it's job. Because they're really bad at it.

The Fed is controlled by Congress.
The CBO does not report the debt and is also controlled by Congress.

 

[Concart]

I think cutting the debt is a great idea. Let’s pass the wealth tax!!!

 

[Into the Night]

I think cutting the debt is a great idea. Let’s pass the wealth tax!!!

Taxing the wealthy even 100% (taking everything they own) won't even make a dent in the debt.

 

[LV426]

Capitalism does not cause debt.

That's all it does. Creates debt in order to leverage it later on when they make a risky bet.

 

[LV426]

They can certainly spend it better than the government can!

Ah so is that why everyone went into debt after the tax cuts because they were better at spending money?

When the government spends itself into debt, you pretend like you care, but when individuals do it you don't.

You have double standards because you don't understand any of this.

 

[LV426]

Government debt is not personal debt.

Now you're lost in the conversation.

The chart I posted showed PERSONAL DEBT in relation to Personal Savings...and the evidence of the chart proves that every time taxes are cut, personal debt increases and personal savings decrease.

So your stupid idea is completely wrong...poeople don't know how to spend money better than the government if they're going into debt every time their taxes are cut.

 

[LV426]

Not necessarily. Non-sequitur fallacy. Government debt is not personal debt.

Now hold on a second, why is government debt bad but personal debt is not? It wasn't government debt that caused the economic collapse in 2008, that was personal debt that did that. Subprime mortgages defaulting, not FHA loans.

According to you, that should have never happened because "people are better at spending their money than the government".

Apparently not, if you're now trying to parse out which type of debt you're OK with so long as it supports your flimsy argument.

 

[LV426]

...still chanting your fiction.

Does February come before or after March?

 

[LV426]

...Still chanting your fiction.

You're quite literally chanting this.

Every accusation from you is actually a confession.