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Our debt is not a problem

eman623 said:
You're just repeating the points I already refuted now.

Here's another one from you. You admitted that the debt may someday be a problem. Let's deal with it before then
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You admitted debt can be a good thing. You used it yourself


Now would be the worst time to raise taxes or reduce government spending if you want to avoid a deep recession
 
eman623 said:
I have no debts now. I took on a debt and paid it off.

Unlike my mortgage, the national debt is not shrinking. It is increasing as a share of GDP.

Eventually it will grow so large as to become a crisis. The smart thing is to deal with it before that haapens.
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Again you are useless nfl your personal finances and equating to the government. Not the same thing.
 
pocket aces said:
Again you are useless nfl your personal finances and equating to the government. Not the same thing.
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Take that up with VG since he was the one who brought up my personal finances when he said, "You spend interest on your home mortgage too."
 
vegas giants said:
You admitted debt can be a good thing. You used it yourself

Now would be the worst time to raise taxes or reduce government spending if you want to avoid a deep recession
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Some debt is a good thing. What we have now is not sustainable, especially now that we are living in an age of high inflation.

In any case, the GOP plan does not involve spending cuts. It seeks to the reduce the growth rate of future spending.

Biden wants to raise taxes, but I guess that's good when he does it.

it would be nice if we could just spend unlimited amounts of money forever. Reality is a beyotch.
 
eman623 said:
Some debt is a good thing. What we have no is not sustainable, especially now that we are living in an age of high inflation.

In any case, the GOP plan does not involve spending cuts. It seeks to the reduce the growth rate of future spending.

it would be nice if we could just spend unlimited amounts of money forever. Reality is a beyotch.
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Well that is an opinion I have heard since Reagan.

Always reduce the growth rate....but no when the gop has the presidency. Lol
 
Our debt is only a problem if/when the government can't print more money. That day may come sooner than you think as the dollar loses its grip as the world's currency.
 
vegas giants said:
I don't see any major problems our debt causes. It may cause a problem some day but currently I see no problem with our debt
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Debt is no problem at all for the US, because US treasuries are still seen as the safest investment. So the dollar is the default reserve currency.

So we can print money to pay for anything.

UNTIL the world loses confidence in the dollar and begins to sell of US treasuries. If that happens, it will be a real catastrophe. 2008 will look like the best year ever compared to the aftermath of that.

And the higher our debt to GDP ratio gets, the more likely the world is to lose confidence in US treasuries.
 
eman623 said:
Feh. I don't care who caused it.

I only care about who fixes it.

This is not a right-left thing. Even if only one side even seems to think it's a problem.
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Of course it is a right left thing. Mostly a right thing.

Facts matter.
 
vanceen said:
Debt is no problem at all for the US, because US treasuries are still seen as the safest investment. So the dollar is the default reserve currency.

So we can print money to pay for anything.

UNTIL the world loses confidence in the dollar and begins to sell of US treasuries. If that happens, it will be a real catastrophe. 2008 will look like the best year ever compared to the aftermath of that.

And the higher our debt to GDP ratio gets, the more likely the world is to lose confidence in US treasuries.
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I have been hearing the sky is falling for 40 years
 
Jay59 said:
Translation: there is a Democrat in the White House.


Translation: as soon as DeSantis is elected or Trump is reelected it will be a problem
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Translation. Let's create a major recession!!!!!!!!
 
vegas giants said:
Well that is an opinion I have heard since Reagan.
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A guy falls off the Empire State building. As he passes the 50th floor, someone sticks his head out a window and says, "Are you ok?" The guy replies, "so far, so good."

I've been hearing predictions of climate doom since Reagan too. "Nothing bad happened so far" is not a defense. Either it's a problem or it isn't.

If it is a problem, even a potential one, then the time to deal with it it now.
 
eman623 said:
A guy falls off the Empire State building. As he passes the 50th floor, someone sticks his head out a window and says, "Are you ok?" The guy replies, "so far, so good."

I've been hearing predictions of climate doom since Reagan too. "Nothing bad happened so far" is not a defense. Either it's a problem or it isn't.

If it is a problem, even a potential one, then the time to deal with it it now.
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But not when Trump was in the white house. Lol
 
vegas giants said:
I have been hearing the sky is falling for 40 years
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It doesn't matter how long you've been hearing anything.

Up until now, the dollar has remained the best bet as a reserve currency. That's mainly because the US economy has a lot going for it. A growing population, lots of natural resources, etc. So countries buy US treasuries for their reserves.

Everything will be fine up to the point that the world loses confidence in the dollar. Why might that happen?

And the higher debt grows, along with the amount of money needed to pay the interest, the less justified the world's confidence will be.

The higher our debt grows, the more likely a selloff of dollar treasuries is. The yuan or the euro just has to look a little safer than the dollar, and then we hit an iceberg.

This has happened to to other countries. There's no reason it can't happen to us.
 
vanceen said:
It doesn't matter how long you've been hearing anything.

Up until now, the dollar has remained the best bet as a reserve currency. That's mainly because the US economy has a lot going for it. A growing population, lots of natural resources, etc. So countries buy US treasuries for their reserves.

Everything will be fine up to the point that the world loses confidence in the dollar. Why might that happen?

And the higher debt grows, along with the amount of money needed to pay the interest, the less justified the world's confidence will be.

The higher our debt grows, the more likely a selloff of dollar treasuries is. The yuan or the euro just has to look a little safer than the dollar, and then we hit an iceberg.

This has happened to to other countries. There's no reason it can't happen to us.
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The dollar is still the best bet in the world


It will be for decades

We pay 6.8% on our debt. It's nothing
 
vegas giants said:
Translation. Let's create a major recession!!!!!!!!
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Biden is working hard on that.

vegas giants said:
The dollar is still the best bet in the world It will be for decades

We pay 6.8% on our debt. It's nothing
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6.8% of zero is nothing. 6.8% of $10 TT is $680 BB.

A hundred billion here and a hundred billion there, before long it adds up to--what's the opposite of nothing?
 
vegas giants said:
But not when Trump was in the white house. Lol
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Even then too. I opposed the Trump tax cuts.

This thread was interesting when it was about whether reducing the debt is needed. Now it's turning into yet another R v D finger pointing exercise.

bored-now_willow_-buffy-2624141321.gif
 
dmpi said:
Don't we have all 50 states required to run with balanced budgets? It's not like it's impossible to run the federal goverment with a balanced budget.
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How would you know?
 
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