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

Doc Dutch said:
Soooo....according to you, if your neighbor spends themselves into bankruptcy, it's okay if you do it too? I disagree with your "logic".
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That's not what I said. But if you understood fractional reserve banking, you would know that zero debt would be a very bad thing for the US because it would also mean that the USD is also worth zero.
 
America said:
That's not what I said. But if you understood fractional reserve banking, you would know that zero debt would be a very bad thing for the US because it would also mean that the USD is also worth zero.
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^^^
Claims everyone has the burden of proving their opinions but never applies it to himself. Sad.

Once again your flaw of leaping to conclusions without evidence does not serve you well.
 
Doc Dutch said:
I have a basic understanding of economics. Agreed the Republicans love to fearmonger including using boogeyman. That said, cutting taxes and increasing spending usually ends in bankruptcy or printing worthless money.

As of last year according to the link below, the US is carrying 128% debt to GDP. That puts us in the same category as Italy and Venezuela. With no change in sight, we're heading for Greek levels.
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Ironically, Greece suffered in large part.because nobody was paying taxes.
Entry into the EU hid the true nature of their fiscal problems until the financial crisis hit the world economy
 
floridafan said:
Let's address your bull shit one final time. Trump in four years never once vetoed a single spending bill. The deficits are all on him.
Biden does not have a 3 year deficit of $6 trillion!
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I just want to say, you are right, but Trump affected the deficit on both ends of the scale.

His lowering the taxes for Billionaires, without getting rid of a single Loophole, harmed our nations income as well, in measurable ways unmatched by any other president in the history of the US.

And the money lost forever to the Billionaires, is equivalent to even more than the deficit he raised on his watch! :whoa:
 
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Althea said:
Ironically, Greece suffered in large part.because nobody was paying taxes.
Entry into the EU hid the true nature of their fiscal problems until the financial crisis hit the world economy
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The Republicans are raiding the Treasury and driving the US into default....then they blame Biden for the downgrading of the US credit rating.

I❤Irony
 
Doc Dutch said:
The Republicans are raiding the Treasury and driving the US into default....then they blame Biden for the downgrading of the US credit rating.

I❤Irony
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Correct. trump fucked up the economy so badly, the Fed was buying billions in corporate bonds to prop up Wall St.. The same Fed that Republicans love to criticize for printing money.
 
Althea said:
Correct. trump fucked up the economy so badly, the Fed was buying billions in corporate bonds to prop up Wall St.. The same Fed that Republicans love to criticize for printing money.
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Only Republicans understand how decreasing revenue

by slashing taxes on the people least hurt by paying them

is supposed to help pay down the debt.

I should, I suppose,
blame myself for not going to college
in a red state.
 
Althea said:
Correct. trump fucked up the economy so badly, the Fed was buying billions in corporate bonds to prop up Wall St.. The same Fed that Republicans love to criticize for printing money.
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IMO, history will show that by denying and delaying the US COVID response for personal reasons, that he caused tens of thousands of unnecessary deaths, but also fucked up the economy. The effects of which are still with us.
 
Doc Dutch said:
IMO, history will show that by denying and delaying the US COVID response for personal reasons, that he caused tens of thousands of unnecessary deaths, but also fucked up the economy. The effects of which are still with us.
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Without question. The idiot thought he could ride Covid right to winning the White House, but screwed it up so badly that the idiot got his ass kicked. His aids were begging him to feign compassion for all of the sick and dead, but he just couldn't bring himself to do it. The supposed actor.
He showed his true colors when he lost total interest in the vaccine because it didn't come to market in time for him to take credit. So he blocked Biden's team from any briefings during the lame duck, putting the nation's security and health at stake.

And he thinks that he's going to win in '24?
 
floridafan said:
Trump approved every dollar of spending, and signed it all into law. Its his responsibility!
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Nope. The House creates spending bills. ONLY the House. It is CONGRESS that ran up the debt. ONLY CONGRESS can do that. Now it's done. They are out of options.
All they can do now is print funny money to 'pay' the debt.

Hence, inflation.
 
Geeko Sportivo said:
I just want to say, you are right, but Trump affected the deficit on both ends of the scale.

His lowering the taxes for Billionaires, without getting rid of a single Loophole, harmed our nations income as well, in measurable ways unmatched by any other president in the history of the US.

And the money lost forever to the Billionaires, is equivalent to even more than the deficit he raised on his watch! :whoa:
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You're just making shit up again, ya dumb lizard.
 
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