They won't do that, precisely because it would work. And then, whenever the Party in White House wanted to spend more on its pet programs, the other - if they controlled the House - would be able to stop them.
Not sure it was the forefathers. I have always maintained that the direct election of senators put the US on its current path.Doc Holliday said:
I don't see how the definition of our government isn't a kleptocracy.
We have a system that is buying and selling public offices, or using government appointments to purchase political support. Within this mechanism you have bureaucrats overpaying contractors/corporations because they will support a politicians campaign. The politicians give the bureaucrats more power/income for doing their bidding.
Our tax dollars are their piggy bank. They do the bare minimum on delivering services, goods, welfare and infrastructure. We're paying for a $500 steak dinner and they're giving us prison food.
It would take all of them voting against their own financial interests to change this.
The mistake our forefathers made was not having enough rules on the elected class.
Yep. Where is the States' representation?GrowlTowel said:Not sure it was the forefathers. I have always maintained that the direct election of senators put the US on its current path.Doc Holliday said:
I don't see how the definition of our government isn't a kleptocracy.
We have a system that is buying and selling public offices, or using government appointments to purchase political support. Within this mechanism you have bureaucrats overpaying contractors/corporations because they will support a politicians campaign. The politicians give the bureaucrats more power/income for doing their bidding.
Our tax dollars are their piggy bank. They do the bare minimum on delivering services, goods, welfare and infrastructure. We're paying for a $500 steak dinner and they're giving us prison food.
It would take all of them voting against their own financial interests to change this.
The mistake our forefathers made was not having enough rules on the elected class.
Whips and leaders imo.GrowlTowel said:Not sure it was the forefathers. I have always maintained that the direct election of senators put the US on its current path.Doc Holliday said:
I don't see how the definition of our government isn't a kleptocracy.
We have a system that is buying and selling public offices, or using government appointments to purchase political support. Within this mechanism you have bureaucrats overpaying contractors/corporations because they will support a politicians campaign. The politicians give the bureaucrats more power/income for doing their bidding.
Our tax dollars are their piggy bank. They do the bare minimum on delivering services, goods, welfare and infrastructure. We're paying for a $500 steak dinner and they're giving us prison food.
It would take all of them voting against their own financial interests to change this.
The mistake our forefathers made was not having enough rules on the elected class.
No, its worse than that.Doc Holliday said:Whips and leaders imo.GrowlTowel said:Not sure it was the forefathers. I have always maintained that the direct election of senators put the US on its current path.Doc Holliday said:
I don't see how the definition of our government isn't a kleptocracy.
We have a system that is buying and selling public offices, or using government appointments to purchase political support. Within this mechanism you have bureaucrats overpaying contractors/corporations because they will support a politicians campaign. The politicians give the bureaucrats more power/income for doing their bidding.
Our tax dollars are their piggy bank. They do the bare minimum on delivering services, goods, welfare and infrastructure. We're paying for a $500 steak dinner and they're giving us prison food.
It would take all of them voting against their own financial interests to change this.
The mistake our forefathers made was not having enough rules on the elected class.
It allowed a single entity to control the rest of congress/senate. It almost forces elected officials to vote in lockstep for something they might oppose because if they oppose it they'll be denied help/funding for their constituency.
Those are logical proposals.STxBear81 said:
Why not everyone pay 20% of what they make. No new taxes
If we can't afford to do something as a family or individual or company or country we don't do it. Limit terms for office.
STxBear81 said:
Why not everyone pay 20% of what they make. No new taxes
If we can't afford to do something as a family or individual or company or country we don't do it. Limit terms for office.
That takes the power out of their handsGuy Noir said:
It is May 24th and there is still no budget agreement. I do not understand why they cannot just freeze the budget. Eliminate all the covid spending and then do a 1-2% flat cut across the board to cover the interest payment increases. They should be able to leave SS out of the across the board cuts. If that does not the cover the budget deficit then increase taxes a bit. Congress has spent itself into a corner so we all will hurt us all a bit due to budget cuts and possible tax increases. It is better to take the medicine now rather than kicking the can down the road.
nein51 said:STxBear81 said:
Why not everyone pay 20% of what they make. No new taxes
If we can't afford to do something as a family or individual or company or country we don't do it. Limit terms for office.
The answer is that is wildly regressive and, frankly, wouldn't solve the problem. You would have to get closer to 35-40% and there's no hope some politician is going to get up on a podium and recommend that.
The answer is a graduated income tax structure with no loop holes, no deductions and literally 100% of earners paying.
Fully 50% of the population pays 0. Why in the world should their vote count as much as mine?
"Hey wanna build a new football field?; your cost is $0.00 but you're neighbor is going to have to pay $100"…well hell yeah…I don't have to pay?? Build it!
People who don't pay taxes shouldn't have a vote on anything that requires even $1 of spending.
New Fox News poll shows 47% would blame Biden for a default, 44% would blame GOP.
— Aaron Blake (@AaronBlake) May 25, 2023
This appears to be unprecedented. Obama often had a double-digit advantage on this question in 2011/2013. pic.twitter.com/SPWgyDs1At
RFK jr. at 20%.
— Stephen L. Miller (@redsteeze) May 25, 2023
Picture says a thousand words https://t.co/qmso9bI5eU pic.twitter.com/qwRlCWmXtC
— Jim Muessig (@JimMuessig) May 25, 2023
High drama in the eleventh hour, Guy. Will a deal not be done and the stock market plummet 45 percent as one of the gloom and doomers has predicted or will there be compromise and a deal struck causing the stock market to soar on Tuesday?Guy Noir said:
The raising of the USA Debt Limit has become a common activity the last several years such that it is no big deal to many Americans. Every dollar borrowed weakens the economic base of the US dollar just a little more.
If one assumes that thee USA will pay 2% interest on this debt, then at $30 trillion (rough current debt level) is $600 million. If the debt goes up to $50 trillion (this is forecast for the next 10-17 years) then we will be paying $1 trillion a year in interest payments. The USA will not be able to function very well when debt service is this high.
We need to cut federal spending and attempt to pay down the debt to $25 trillion to be able keep fiscal control of our country's business. Domestic spending vs defense spending will continue, but both will need to be cut in the future.
RD2WINAGNBEAR86 said:High drama in the eleventh hour, Guy. Will a deal not be done and the stock market plummet 45 percent as one of the gloom and doomers has predicted or will there be compromise and a deal struck causing the stock market to soar on Tuesday?Guy Noir said:
The raising of the USA Debt Limit has become a common activity the last several years such that it is no big deal to many Americans. Every dollar borrowed weakens the economic base of the US dollar just a little more.
If one assumes that thee USA will pay 2% interest on this debt, then at $30 trillion (rough current debt level) is $600 million. If the debt goes up to $50 trillion (this is forecast for the next 10-17 years) then we will be paying $1 trillion a year in interest payments. The USA will not be able to function very well when debt service is this high.
We need to cut federal spending and attempt to pay down the debt to $25 trillion to be able keep fiscal control of our country's business. Domestic spending vs defense spending will continue, but both will need to be cut in the future.
I say we're gonna soar! Am hopeful these jacklegs on both sides of the aisle realize how much retirement income and investments mean to everyone. Unfortunately, It will be a very short-term solution to a long-term problem.
Agree with you here. Gonna take a commitment from BOTH sides! Almost two thirds of Americans want Congress to reign in and reduce spending.RMF5630 said:RD2WINAGNBEAR86 said:High drama in the eleventh hour, Guy. Will a deal not be done and the stock market plummet 45 percent as one of the gloom and doomers has predicted or will there be compromise and a deal struck causing the stock market to soar on Tuesday?Guy Noir said:
The raising of the USA Debt Limit has become a common activity the last several years such that it is no big deal to many Americans. Every dollar borrowed weakens the economic base of the US dollar just a little more.
If one assumes that thee USA will pay 2% interest on this debt, then at $30 trillion (rough current debt level) is $600 million. If the debt goes up to $50 trillion (this is forecast for the next 10-17 years) then we will be paying $1 trillion a year in interest payments. The USA will not be able to function very well when debt service is this high.
We need to cut federal spending and attempt to pay down the debt to $25 trillion to be able keep fiscal control of our country's business. Domestic spending vs defense spending will continue, but both will need to be cut in the future.
I say we're gonna soar! Am hopeful these jacklegs on both sides of the aisle realize how much retirement income and investments mean to everyone. Unfortunately, It will be a very short-term solution to a long-term problem.
Of course deal will be cut.
Question is what gets done long term. Something has to change. Both Biden and Trump spent like drunken sailors.
RDS is open to flat tax and simplification of the tax code, be interesting to see what he thinks. I agree with moving SS to 70 and Medicare cost reform (not for getting rid of either).RD2WINAGNBEAR86 said:Agree with you here. Gonna take a commitment from BOTH sides! Almost two thirds of Americans want Congress to reign in and reduce spending.RMF5630 said:RD2WINAGNBEAR86 said:High drama in the eleventh hour, Guy. Will a deal not be done and the stock market plummet 45 percent as one of the gloom and doomers has predicted or will there be compromise and a deal struck causing the stock market to soar on Tuesday?Guy Noir said:
The raising of the USA Debt Limit has become a common activity the last several years such that it is no big deal to many Americans. Every dollar borrowed weakens the economic base of the US dollar just a little more.
If one assumes that thee USA will pay 2% interest on this debt, then at $30 trillion (rough current debt level) is $600 million. If the debt goes up to $50 trillion (this is forecast for the next 10-17 years) then we will be paying $1 trillion a year in interest payments. The USA will not be able to function very well when debt service is this high.
We need to cut federal spending and attempt to pay down the debt to $25 trillion to be able keep fiscal control of our country's business. Domestic spending vs defense spending will continue, but both will need to be cut in the future.
I say we're gonna soar! Am hopeful these jacklegs on both sides of the aisle realize how much retirement income and investments mean to everyone. Unfortunately, It will be a very short-term solution to a long-term problem.
Of course deal will be cut.
Question is what gets done long term. Something has to change. Both Biden and Trump spent like drunken sailors.
I would love a flat tax. That is the REAL pay your fair share tax approach. Too many lawyers and accountants that will never allow a flat tax to happen. That is just our reality.RMF5630 said:RDS is open to flat tax and simplification of the tax code, be interesting to see what he thinks. I agree with moving SS to 70 and Medicare cost reform (not for getting rid of either).RD2WINAGNBEAR86 said:Agree with you here. Gonna take a commitment from BOTH sides! Almost two thirds of Americans want Congress to reign in and reduce spending.RMF5630 said:RD2WINAGNBEAR86 said:High drama in the eleventh hour, Guy. Will a deal not be done and the stock market plummet 45 percent as one of the gloom and doomers has predicted or will there be compromise and a deal struck causing the stock market to soar on Tuesday?Guy Noir said:
The raising of the USA Debt Limit has become a common activity the last several years such that it is no big deal to many Americans. Every dollar borrowed weakens the economic base of the US dollar just a little more.
If one assumes that thee USA will pay 2% interest on this debt, then at $30 trillion (rough current debt level) is $600 million. If the debt goes up to $50 trillion (this is forecast for the next 10-17 years) then we will be paying $1 trillion a year in interest payments. The USA will not be able to function very well when debt service is this high.
We need to cut federal spending and attempt to pay down the debt to $25 trillion to be able keep fiscal control of our country's business. Domestic spending vs defense spending will continue, but both will need to be cut in the future.
I say we're gonna soar! Am hopeful these jacklegs on both sides of the aisle realize how much retirement income and investments mean to everyone. Unfortunately, It will be a very short-term solution to a long-term problem.
Of course deal will be cut.
Question is what gets done long term. Something has to change. Both Biden and Trump spent like drunken sailors.
Defense spending is going to be interesting. Our approach is to out tech the enemy, will that hold up as tech is getting so expensive and our enemies will use numbers to offset.
RD2WINAGNBEAR86 said:I would love a flat tax. That is the REAL pay your fair share tax approach. Too many lawyers and accountants that will never allow a flat tax to happen. That is just our reality.RMF5630 said:RDS is open to flat tax and simplification of the tax code, be interesting to see what he thinks. I agree with moving SS to 70 and Medicare cost reform (not for getting rid of either).RD2WINAGNBEAR86 said:Agree with you here. Gonna take a commitment from BOTH sides! Almost two thirds of Americans want Congress to reign in and reduce spending.RMF5630 said:RD2WINAGNBEAR86 said:High drama in the eleventh hour, Guy. Will a deal not be done and the stock market plummet 45 percent as one of the gloom and doomers has predicted or will there be compromise and a deal struck causing the stock market to soar on Tuesday?Guy Noir said:
The raising of the USA Debt Limit has become a common activity the last several years such that it is no big deal to many Americans. Every dollar borrowed weakens the economic base of the US dollar just a little more.
If one assumes that thee USA will pay 2% interest on this debt, then at $30 trillion (rough current debt level) is $600 million. If the debt goes up to $50 trillion (this is forecast for the next 10-17 years) then we will be paying $1 trillion a year in interest payments. The USA will not be able to function very well when debt service is this high.
We need to cut federal spending and attempt to pay down the debt to $25 trillion to be able keep fiscal control of our country's business. Domestic spending vs defense spending will continue, but both will need to be cut in the future.
I say we're gonna soar! Am hopeful these jacklegs on both sides of the aisle realize how much retirement income and investments mean to everyone. Unfortunately, It will be a very short-term solution to a long-term problem.
Of course deal will be cut.
Question is what gets done long term. Something has to change. Both Biden and Trump spent like drunken sailors.
Defense spending is going to be interesting. Our approach is to out tech the enemy, will that hold up as tech is getting so expensive and our enemies will use numbers to offset.
If we have a recession, the numbers will be even worse.
— Wall Street Silver (@WallStreetSilv) May 28, 2023
Tax revenue declines and spending increases during recessions.
More extended unemployment benefits, expanded food stamps, stimmy checks, etc.
That is true. But defaulting is not going to make the problem better! We default, that number goes up as the cost of money rises. Chinese Yuan will be exchange currency.Doc Holliday said:
Our country is a fu kn joke. McCarthy is weak.If we have a recession, the numbers will be even worse.
— Wall Street Silver (@WallStreetSilv) May 28, 2023
Tax revenue declines and spending increases during recessions.
More extended unemployment benefits, expanded food stamps, stimmy checks, etc.
DC sees the debt ceiling deal as permission to spend even more.RMF5630 said:That is true. But defaulting is not going to make the problem better! We default, that number goes up as the cost of money rises. Chinese Yuan will be exchange currency.Doc Holliday said:
Our country is a fu kn joke. McCarthy is weak.If we have a recession, the numbers will be even worse.
— Wall Street Silver (@WallStreetSilv) May 28, 2023
Tax revenue declines and spending increases during recessions.
More extended unemployment benefits, expanded food stamps, stimmy checks, etc.
I agree, I was against the COVID spending. They were ridiculous numbers. Defaulting only would make things worse. It is not in anyone's best interest to default over politics.Doc Holliday said:DC sees the debt ceiling deal as permission to spend even more.RMF5630 said:That is true. But defaulting is not going to make the problem better! We default, that number goes up as the cost of money rises. Chinese Yuan will be exchange currency.Doc Holliday said:
Our country is a fu kn joke. McCarthy is weak.If we have a recession, the numbers will be even worse.
— Wall Street Silver (@WallStreetSilv) May 28, 2023
Tax revenue declines and spending increases during recessions.
More extended unemployment benefits, expanded food stamps, stimmy checks, etc.
We can't keep doing this.
Biggest problem is incompetent bureaucracy. Professional grifters. Legal corruption.RMF5630 said:I agree, I was against the COVID spending. They were ridiculous numbers. Defaulting only would make things worse. It is not in anyone's best interest to default over politics.Doc Holliday said:DC sees the debt ceiling deal as permission to spend even more.RMF5630 said:That is true. But defaulting is not going to make the problem better! We default, that number goes up as the cost of money rises. Chinese Yuan will be exchange currency.Doc Holliday said:
Our country is a fu kn joke. McCarthy is weak.If we have a recession, the numbers will be even worse.
— Wall Street Silver (@WallStreetSilv) May 28, 2023
Tax revenue declines and spending increases during recessions.
More extended unemployment benefits, expanded food stamps, stimmy checks, etc.
We can't keep doing this.
Spending patterns have to change. We need to invest more in infrastructure and defense, there are categories that need to be cut and others that need to stand pat.
Bureaucracy is neither competent nor incompetent it is necessary and protects workers and nations. The problem is not bureaucracy or so-called bureaucrats it is elected officials getting into the processes and calling winners and losers. Bureaucracies have protections built into the system to get things done.Doc Holliday said:Biggest problem is incompetent bureaucracy. Professional grifters. Legal corruption.RMF5630 said:I agree, I was against the COVID spending. They were ridiculous numbers. Defaulting only would make things worse. It is not in anyone's best interest to default over politics.Doc Holliday said:DC sees the debt ceiling deal as permission to spend even more.RMF5630 said:That is true. But defaulting is not going to make the problem better! We default, that number goes up as the cost of money rises. Chinese Yuan will be exchange currency.Doc Holliday said:
Our country is a fu kn joke. McCarthy is weak.If we have a recession, the numbers will be even worse.
— Wall Street Silver (@WallStreetSilv) May 28, 2023
Tax revenue declines and spending increases during recessions.
More extended unemployment benefits, expanded food stamps, stimmy checks, etc.
We can't keep doing this.
Spending patterns have to change. We need to invest more in infrastructure and defense, there are categories that need to be cut and others that need to stand pat.
The debt ceiling deal:
— Wall Street Silver (@WallStreetSilv) May 28, 2023
By January 2025, less than two years away, the debt will increase from $31.4 T to $36 trillion.
And for this there are no spending reforms and some token $50 billion in cuts? They clawed back some unspent Covid money.
Waste of time. pic.twitter.com/gduzmOa2Ha
Here is how we know that Speaker Kevin McCarthy lost huge and Joe Biden won.
— Wall Street Silver (@WallStreetSilv) May 28, 2023
None of the legacy corporate left wing media are attacking the debt "ceiling" deal. Lots of nice little stories about it. Zero scary headlines. pic.twitter.com/jbg7wG4Sav
Republicans Win Emmy For Acting Like Government Spending Makes Them Sad https://t.co/QeA05rjxgi pic.twitter.com/vhTxpYIZjW
— The Babylon Bee (@TheBabylonBee) May 28, 2023
nein51 said:
That is correct. Neither party cares. They only care about what it's spent on. If it's their project it's good spending.
RMF5630 said:nein51 said:
That is correct. Neither party cares. They only care about what it's spent on. If it's their project it's good spending.
Maybe it has been do long since we agreed on anything the believe is it must be bad. Since when does governing need to be a MMA event and if you don't make the other side tap out you lose?
Really sick of the constantly combative lifestyle we have now. Is it a bridge too far to believe that both sides agree defaulting would be bad, so concessions were made??
RMF5630 said:Bureaucracy is neither competent nor incompetent it is necessary and protects workers and nations. The problem is not bureaucracy or so-called bureaucrats it is elected officials getting into the processes and calling winners and losers. Bureaucracies have protections built into the system to get things done.Doc Holliday said:Biggest problem is incompetent bureaucracy. Professional grifters. Legal corruption.RMF5630 said:I agree, I was against the COVID spending. They were ridiculous numbers. Defaulting only would make things worse. It is not in anyone's best interest to default over politics.Doc Holliday said:DC sees the debt ceiling deal as permission to spend even more.RMF5630 said:That is true. But defaulting is not going to make the problem better! We default, that number goes up as the cost of money rises. Chinese Yuan will be exchange currency.Doc Holliday said:
Our country is a fu kn joke. McCarthy is weak.If we have a recession, the numbers will be even worse.
— Wall Street Silver (@WallStreetSilv) May 28, 2023
Tax revenue declines and spending increases during recessions.
More extended unemployment benefits, expanded food stamps, stimmy checks, etc.
We can't keep doing this.
Spending patterns have to change. We need to invest more in infrastructure and defense, there are categories that need to be cut and others that need to stand pat.