The government cannot go broke because it can just keep printing money.
"Grrr I hate it so much when loans are forgiven"
- Thread starter LV426
- Start date
The government cannot go broke because it can just keep printing money.
Refugee resettlement agencies.
Matt Dillon
Semolina comes from wheat
That LooseVagina426 is a fucking idiot shit sandwich.
Cheering on the US Treasury losing 20% of its assets.
This thing has potential to do exponential damage.
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It changes everything because it's not the fault of Biden, or government spending, or any of the programs you think were inflationary but were passed while inflation was growing.
The fact that inflation is global and that we're doing better on it than most other countries goes to prove that the BIF and COVID relief worked.
Because inflation is global, no singular, individual nation or action is responsible for it.
You're one of those people because you just got done blaming Biden for inflation through government spending and student debt forgiveness on this very thread you goofball.
Ah, so now you're moving the bar to "contributing to the inflation" when before you learned that it was global, you were blaming them for causing inflation, not "contributing to it".
So how can you explain the fact that we have had less inflation than other countries, despite spending all this money that you think "contributes" to it?
As we spent the money, our inflation rate stopped growing last month and looks to be declining for this month...but if we are to believe your crackpot theories, we should be having MORE inflation than other countries...but we're not.
So what that means is that you're full of shit, like I've been saying this whole time.
That is literally what sunsetting means, Flash.
WTF are you talking about? Medicare and Medicaid are federal laws that the GOP wants to get rid of in Rick Scott's plan.
You're doing that thing again where you hastily and sloppily rush through your responses without carefully reading the post you're responding to because you're getting too emotional.
Flash, you're gonna need to start sourcing shit because I don't believe anything you're saying here.
Why are you so reticent to doing that? Is it because your sources are questionable, and you don't want anyone to know that you're basing your entire belief system on garbage sources you're too embarrassed to name?
Post-WWI Germany suffered economic consequences because of the war they lost.
Reasonable people can debate if those consequences were appropriate or heavy-handed, but it is not reasonable to pin the fall of Weimar on government spending, when it had economic sanctions placed on it by the allies who won the war.
I didn't think it was possible for you to lower my opinion of your abilities any further, but you did it somehow.
Such as?
Hey you fucking pussy, let's put an end to your bullshit RIGHT NOW.
You seem to be a tough talker, but I'm 100% sure you'll never ever back up any of the shit you say here.
I'd love to drive down to Florida and kick your fucking ass all over the place...nothing would make me happier than shutting your big, fat fucking mouth for good by kicking in the few teeth you haven't lost to your meth addiction.
Let's go you fucking pussy.
Matt Dillon
Semolina comes from wheat
C'mon down, faggot! I'll smash your face right into the back of your skull, you fucking moron. Meet me @ your mama's bedroom and I'll be out in under 5 minutes.
Nervous laughter emoji from you because you know that I would beat the living shit out of you if we were to ever meet in person, and then I'd fuck your wife in the ass while you watched.
Matt Dillon
Semolina comes from wheat
Unlikely to happen. You couldn't beat your way out of a wet paper bag, let alone a man like me. I'm not in the lower echelon of people to fuck with. I grew up beating the shit out of bullies, whether it was me they were fucking with or somebody else they should have left alone. You can't beat everybody, but you'll never know unless you try.
I haven't worn very many ass whippin's in my life at all. I beat the shit out of 2 crackers who were both bigger than me at the same time and fucked them up.
You may be about like 1 of them.
I ain't done what I did to that 1 motherfucker in years! Yeah! C'mon down, I'll show you that Tom Sawyer shit, motherfucker!
Ooooo..Yeah! C'mon, Cupcake! I KNOW that hurt.
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Well there's only one way to find out, isn't there you fucking pussy?
Put your fucking money where your big, fat mouth is and I'll be happy to put my boot right into it.
Until then, any post of yours will simply just be another example of how much of a little fucking bitchass you are.
That's what I'll get everyone to start calling you now, "Little Fuckin Bitchass". Has a way better ring to it than "Matt Dillon".
Where did you take economics? Government can go bankrupt when it cannot make payments on its debt. It cannot continue to increase its debt if no one will buy that debt and if it cannot make payments the bonds will be downgraded and less people will take the risk. They were already downgraded to AA+ in 2011.
The lender and borrower are not the same entity. The government is the borrower. The lender, for one example, is the couple who saved for their retirement by buying treasury bonds. Now that they are retired, they plan to live off the interest paid on those bonds and perhaps to cash them in when they mature. If government cannot make the interest payments on the bonds or pay them off at maturity millions of Americans have lost their retirement savings.
When you say naively "we only owe it to ourselves" we need that money at some point in the future. So, it does come due when that bond matures. Usually, government does not actually pay off that bond but just buys new bonds and pays the holder with newly borrowed money.
About 34% of that debt is held by foreign nations (1. Japan 2. China 3. UK) and they expect their payments. If those bonds are not safe to purchase we cannot expect them to finance our debt.
About 27% of our debt is intergovernmental. So, you can spout cliches like "we only owe it to ourselves," but that includes Social Security recipients that will need some of that $2.5 trillion in the next few years. Social Security is the largest source of intergovernmental debt. In 2021 revenues were no longer enough to pay benefits and the surplus is being used to cover the difference. The surplus will be gone by about 2035 and revenues will cover only about 70% of benefits. That is why Congress must take some action to change the system.
I don't talk about my education here because it wouldn't be fair to you if I did. That's why I'm avoiding invoking that stuff because I can make an argument without it. I would ask where did you take economics...except that I know you never have because you've said as much. So you're trying to wing it here on this thread and you're outmatched.
So now to your point...payments to whom? WE are the primary lenders to the government. ~$24T of the $28T debt is owed to us. 86% of our debt is owed to ourselves.
So, what, you think we should all repossess Yellowstone National Park? How does that happen? And what do we do with it after we repossess it?
What, are you gonna stroll on up to Edwards Air Force Base and demand they turn over the F-35's? So what are you gonna do with that F-35 once you repossess it in the name of the debt holders? Probably sell it to a foreign country because that's all you can think of.
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cancel2 2022
Canceled
You need to wake the fuck up!
Why Erasing Student Debt Won’t Fix the Problem
Wharton finance professor Michael Roberts finds fault with Biden’s proposal to cancel student loan debt for millions of borrowers, saying it won’t make much of a dent in the $1.7 trillion problem.
https://knowledge.wharton.upenn.edu/article/why-erasing-student-debt-wont-fix-the-problem/
Completely fucking wrong.
This is what happens when you don't do the research because you're a lazy fucking asshole.
Foreign and international investors hold total about $7T of the debt...and of that $7T, foreign governments like China account for about $2.5T total, the rest are private investors who bought US bonds.
So it's not 34% of the debt, it's about 23%, and most of that is held by private investors, not foreign governments.
Good luck trying to repossess anything in the US as a foreign investor if we defaulted on our debt, which can only happen by choice not circumstance.
You have no clue how government finances the debt. When we "owe it to ourselves" it is not for a park or jet, it is to those who hold that debt by purchasing treasury securities. If you have a retirement account full of treasury bonds you are the person the government owes it to.
Unless you don't care if government redeems your bonds and pays the interest then government does not have to pay its debt. But, if you are expecting to use that account for your retirement, then "owing it to ourselves" means your retirement.
I'm not outmatched when I'm discussing government funding with a person who thinks we don't need to pay the money back. Just like I was not outmatched when you claimed Trump would cancel the election, that elections are not cancelled when there is no competition, that we can assault or murder somebody if you think their political views are a threat, that the government can ban a flag, or any of the other "errors" in fact you pretended you knew.
So then you obviously support lifting the cap on taxable SS income, which would extend the solvency of the program by decades?
Social Security: Raising or Eliminating the Taxable Earnings Base
...
Raising or eliminating the taxable earnings base while maintaining the current benefit structure, where benefits are calculated on the full contribution base, would lead to higher monthly Social Security checks for individuals who earned more than the current taxable earnings base during their careers. These higher benefit payments would lead to greater program outlays, although these expenditures would be more than offset by greater tax revenues.
...
https://sgp.fas.org/crs/misc/RL32896.pdf
Who knew that raising taxes could make a program solvent? Do moderates not know that?