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POTUS 46.10: A New Hope

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rufus said:
Drew just can't seem to figure it out. Yes, the federal debt is gonna grow. His choice is, does he want it to grow by 20T, or 17T?

Cause if Biden does nothing, proposes to keep spending and taxation exactly the way it is today, right now, the the debt is gonna increase by $20 trillion. See, this is what happens when stupid people think they know more than those in charge of these things. You know, like Trump supporters.
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$3T is completely immaterial at that point. We’re going to be spending $1T to $3T per year in interest. Our country is completely ******.
 
LynahFan said:
You know what else? It increases debt more than the fantasy land where revenue exceeds expenditures by $1T each year. Or the one where revenue exeeds expenditures by $2T. Balanced budget every year for the next 10 years is every bit as stupid of a benchmark to use for comparison.
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Appreciation something something depreciation tables mumble mumble
 
Drew S. said:
$3T is completely immaterial at that point. We’re going to be spending $1T to $3T per year in interest. Our country is completely ******.
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Look, the Govenment isn't a business. It isn't meant to be run like a business, it isn't meant to fall under normal business rules. It sure took me a while to come around to that too, but I did.

If it were a business, we were awfully close to seeing assets piecemeal sold off and then the country flipped to the highest bidding nation, all while the CEO takes his golden parachute to a foreign island. Long gone would be the tax writeoffs for being in debt for so long.

Wait... Mango Mussolini tried to sell off National Park land and assets. And he was schmoozing with selling state secret assets to the highest bidder.



Jesus Christ, Reagan really f*cked this country and conservatives just couldn't keep his balls out of their mouths in the 90s. They were jealous that Bill was a receiver, and they had to keep giving it to Reagan.
 
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aparch said:
Look, the Govenment isn't a business. It isn't meant to be run like a business, it isn't meant to fall under normal business rules. It sure took me a while to come around to that too, but I did.

If it were a business, we were awfully close to seeing assets piecemeal sold off and then the country flipped to the highest bidding nation, all while the CEO takes his golden parachute to a foreign island. Long gone would be the tax writeoffs for being in debt for so long.

Wait... Mango Mussolini tried to sell off National Park land and assets. And he was schmoozing with selling state secret assets to the highest bidder.



Jesus Christ, Reagan really f*cked this country and conservatives just couldn't keep his balls out of their mouths in the 90s. They were jealous that Bill was a receiver, and they had to keep giving it to Reagan.
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You’re partially right. Governments definitely have more runway than companies but at some point people stop buying your debt, capital goes elsewhere, good and services become scarcer, etc. If we follow the Biden plan that is where we’ll end up.
 
Drew S. said:
.... If we follow the Biden plan that is where we’ll end up.
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What other plan is there to follow?

The Republicans alternative is to tell you to stick out both hands and wish into one of them while they sh*t all over your other hand, then continue to spray sh*t everywhere like a hippopotamus with diarrhea.
 
Swansong said:
Deficits aren't good
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I mean, they are the essence of both the fiscal and, to finance it, monetary policy under a capitalist system. How to live up to your neck in hock is the fiduciary basis of the entire modern world. The whole idea is borrowing to invest, not having to wait around for the physical aggregation of gold under a mercantile system. That (and technological progress driven by, again, deficit spending) is the rocket fuel that made capitalism an amplifier of global wealth.

If you want balanced budgets then you want a fundamentally anti-capitalist system in which you pay as you go and you collect public revenues to offset all spending, and you don't resort to complex financial instruments to perform monetary or fiscal judo. I'm okay with that, but the entire financial parasitic class will go to war with you to protect their gravy train of unearned income.
 
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Drew S. said:
You’re partially right. Governments definitely have more runway than companies but at some point people stop buying your debt, capital goes elsewhere, good and services become scarcer, etc. If we follow the Biden plan that is where we’ll end up.
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No, you dimwit. If you let your Republican buddies default on the national debt, then yes, that's where we'll be.

As long as our debt has the full faith and credit of the US national government behind it, we're good. The minute you tell those people who have been buying up that debt that they aren't gonna see their investment ever again, that's when we're fucked.

But you're probably good with your Republican buddies plans to default on the debt. Shows they're serious. Making the hard choices. Doing what has to be done. Unlike that idiot Biden.

It's kinda like sending the US military into Mexico because a couple entitled white folk decided to vacation in cartel country and got themselves killed.
 
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rufus said:
No, you dimwit. If you let your Republican buddies default on the national debt, then yes, that's where we'll be.

As long as our debt has the full faith and credit of the US national government behind it, we're good. The minute you tell those people who have been buying up that debt that they aren't gonna see their investment ever again, that's when we're ****ed.

But you're probably good with your Republican buddies plans to default on the debt. Shows they're serious. Making the hard choices. Doing what has to be done. Unlike that idiot Biden.

It's kinda like sending the US military into Mexico because a couple entitled white folk decided to vacation in cartel country and got themselves killed.
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Imagine how crazy it would be if Drew wanted us to go to war over black people from the South?
 
Drew S. said:
$3T is completely immaterial at that point. We’re going to be spending $1T to $3T per year in interest. Our country is completely ******.
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If I borrow $1 every year knowing I can make $2 from that $1, I take out that loan every time. And I continue to do that forever.

Deficit hawks are the dumbest people because they can't understand simple math and can't even pass the marshmallow test.
 
Give him a minute. He’s busy getting all huffy about how we can’t afford student loan forgiveness but we must bail out the banks
 
Deutsche Gopher Fan said:
Give him a minute. He’s busy getting all huffy about how we can’t afford student loan forgiveness but we must bail out the banks
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No doubt.

Keep raising interest rates to kill economic growth and businesses lay off people, but gotta make them billionaires whole. Lord knows they can't suffer any consequences for their actions.
 
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