The party of Fiscal Responsibility?

Jerome said:
CBO says we're on track for $3.7 TRILLION deficit, 36% drop in GDP.

https://www.pbs.org/newshour/politics/cbo-says-deficit-to-reach-3-7-trillion-in-economic-decline

This shit was set in motion by the tax cuts, so don't even blame it all on the virus.

The GOP doesn't give a SHIT about the deficit unless we have a democratic president.
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Far as I can tell almost no one cares about debt , or has in a long while, which I chalk up to nearly everyone understanding that the current world order is toast. My issue is that these people who seem to think that the upon collapse of the economic system the debt numbers will not matter are wrong. It will be the ones who have the least amount of indebtedness who will most get to decide what comes after looks like. This debt that America is taking now apparent thinking that it is free money are conducting Generational Warfare.

Our decedents will look down on us at least as much as we look down on those who owned slaves.

Very few of my peers are bright enough to understand this.
 
ThatOwlWoman said:
We could have paid down our debt and set aside funds for a "rainy day" while the economy was booming. That's what you do in good times. Now we've virtually bankrupted the country because we did not, and that rainy day is here.

What do you want to bet that when the next (D) is POTUS, the (R)s try to blame this all on him/her, and threaten to shut down the country every time the budget comes up for vote -- like they did with Obama??
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Appears to be the point many are overlooking, instead of cutting taxes in a time of economic growth the Gov't should have been increasing revenue, many still believe in the Laffer curve although it has been proven bogus since the 1980's
 
archives said:
Appears to be the point many are overlooking, instead of cutting taxes in a time of economic growth the Gov't should have been increasing revenue, many still believe in the Laffer curve although it has been proven bogus since the 1980's
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I know this is antithetical to many liberals but why not cut spending instead of raising taxes during good times to balance the budget?
 
cawacko said:
I know this is antithetical to many liberals but why not cut spending instead of raising taxes during good times to balance the budget?
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Been done, during Obama's last years his discretionary spending decreased, perhaps not fast enough, but he did do it corresponding with the perceived health of the economy. When Trump took office, the practiced stopped, and discretionary spending increased even thought the economy continued the upward trends
 
archives said:
Been done, during Obama's last years his discretionary spending decreased, perhaps not fast enough, but he did do it corresponding with the perceived health of the economy. When Trump took office, the practiced stopped, and discretionary spending increased even thought the economy continued the upward trends
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Thanks to the “party of no”. Remember that, because they wouldn’t fund Obama’s desired spending priorities?

But it’s more the principle, you can cut spending you don’t have to raise taxes like you suggested.
 
cawacko said:
Thanks to the “party of no”. Remember that, because they wouldn’t fund Obama’s desired spending priorities?

But it’s more the principle, you can cut spending you don’t have to raise taxes like you suggested.
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First part is debatable, but if action defines purpose, that "party of no' surely hasn't been too concerned with fiscally saying no since 1/17

Anyone can cut spending, as I said, Obama did on non entitlements in the last years of his Administration, although, that wouldn't have been the prudent way to go in 2009 anymore than it is today, and no one is talking raising taxes, rather, questioning the Trump tax cut when it wasn't necessary, making today's spending more threatening down the road
 
archives said:
First part is debatable, but if action defines purpose, that "party of no' surely hasn't been too concerned with fiscally saying no since 1/17

Anyone can cut spending, as I said, Obama did on non entitlements in the last years of his Administration, although, that wouldn't have been the prudent way to go in 2009 anymore than it is today, and no one is talking raising taxes, rather, questioning the Trump tax cut when it wasn't necessary, making today's spending more threatening down the road
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I highly doubt the Republican Congress would be labeled the “party of no” if it was trying to increase spending and Obama was trying to cut it.

At the end of the day it’s bi-partisan effort for why we have $24 trillion in debt and you can’t raise taxes high enough to cover it. It will require spending cuts. Unfortunately there’s no political will for it so nothing will change

Edit: didn’t you just write in a prior post that we should have raised taxes?
 
cawacko said:
I highly doubt the Republican Congress would be labeled the “party of no” if it was trying to increase spending and Obama was trying to cut it.

At the end of the day it’s bi-partisan effort for why we have $24 trillion in debt and you can’t raise taxes high enough to cover it. It will require spending cuts. Unfortunately there’s no political will for it so nothing will change

Edit: didn’t you just write in a prior post that we should have raised taxes?
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And it is bi-partisan that the debt by the time the last boomer dies has long been project to be well over $100 trillion (assuming that anyone would allow the debt to take place) because the Boomers refused to pay for their own lives.... in particular refused to fund their own retirements and refused to get the medical system fixed so that it delivered quality care for a reasonable cost ("Just let the Kids/Grandkids/Unborn pay for it...who cares!").

We can edit?

Cool!
 
The Repubs dishonestly claimed to be fiscally responsible. The Repub presidents have ran up the debt bigly starting with Reagan. Every one of them did. It is not an accident. They want to crank it up too allow them to cut all the programs that help the disadvantaged like Food stamps, Medicaid, and other programs for the masses. After Trump's fiasco ends, the Repubs will start trying to cut help while slashing taxes for the elite.
 
WitoldPilecki said:
Trumpty Dumbty is like Barrack Obummer part 2.

Trump by implemented policy to the Left of Obama.

Farmer freebies, Stimulus & Bailouts bigger & more Socialist than Obama.

But, Obama deported more Illegals.

Why Repubs just kiss his butt, is beyond me, truly zombified @$$clowns.
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Err, except Obama inherited a $1.2 T deficit, and cut it by 2/3rds by the end of his term. Remember the 2008 recession? People love to conveniently blame Obama for that.

Democrats are the only party that even ATTEMPTS to lower the deficit by actually using revenue. You can't simply slash spending and keep the economy humming while lowering the debt.
 
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