• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

[W:436] Biden declares himself 'blameless' if US defaults on debt: 'I've done my part'

Most coivd deaths - What could he do?

High inflation - what could he do?

Debt default - what could he do?

Feckless is an accurate statement of Biden's leadership. It's strange to see him admit that he has no ideas and will bot be addressing the acute problems affecting americans.
 
Àà
Why am i supposed to answer whatever random question you come up with? Nobody is moved by your opinions on taxes and spending. We don't care. Now it is mildly amusing to poke fun at a supposedly able human who is filled to the gills with utter nonsense. Your sheer presence naturally creates an anti-MAGA stigma no matter the topic.
Because this thread is about Biden declaring himself blameless for the potential default and claim it had to do with the Trump tax cuts creating loss of revenue. the question is quite clear and of course you run from it. You cannot prove that the tax cuts caused a deficit from discretionary spending and interest expense in 2018-2019. You also cannot refute the claim that the total US budget was balanced under Clinton. Let's face it, you are a typical liberal economically, civics, and constitutionally challenged

The Trump tax cut lowered tax rates giving you a reduction in withholding thus more spendable income. You want those tax cuts reversed hopefully getting those high state and local tax deductions back as fully deductible. Liberals are such hypocrites, claiming about not enough money going to the gov't while paying less because of state and local taxes that have nothing to do with federal expenses
 
It isn't just the US economy that would tank with a default. The whole world would suffer. And you can forget any help for Ukraine because the dollar would become really worthless.

We spend five times as much on our defense as any other country, so if we spent 3.5 times as much, we'd be fine. If tiny tax increases were put on people who earn millions and billions a year, they wouldn't feel it at all and hardly even be aware of it. If interest rates on unearned income increased the tiniest bit, no one would significantly suffer. Yet the GOP doesn't want any defense cut or tax increase.

Instead, they resent disabled people who don't have jobs. They demand that women give birth even if the fetus has no legs, half a brain, and congenital blindness and deafness and then, having given them the job of caring for them 24/7, as no one will adopt them, plans to say they are lazy if they don't have full time jobs six weeks after giving birth. And they don't want to pay for the baby's disabilities.

These people are simply impossible or perhaps just simpletons.
Oh, my, do you have any clue what the role is for your state and local government and what they do with the taxes you pay? You obviously don't have any idea what the role of the federal gov't is. I know this reality escapes you but the D's controlled the Congress and WH 2021-2022 so what did they do about the debt ceiling and spending?
 
Because this thread is about Biden declaring himself blameless
Ok. WTF does that have to do with your discretionary spending, FIT, etc... babbling?

No need to answer. You're just deflecting in order to go on one of your incoherent tirades.
You cannot prove that the tax cuts caused a deficit
You're not making sense. We know that the tax cuts reduced revenue. That has nothing to do with our current debt ceiling issue.
You also cannot refute the claim that the total US budget was balanced under Clinton.
Why would i need to refute a missed take on a fact (the budget had a surplus therefore it was not balanced)? In reality, you cannot refute the fact that the U.S. federal budget (no such thing as a total budget... you just made that up) had surpluses.
Let's face it, you are a typical liberal economically, civics, and constitutionally challenged
I absolutely own you in these discussions. It is fun to show just how petty, uneducated, and desperate MAGA cultists are.
 
Ok. WTF does that have to do with your discretionary spending, FIT, etc... babbling?

No need to answer. You're just deflecting in order to go on one of your incoherent tirades.

You're not making sense. We know that the tax cuts reduced revenue. That has nothing to do with our current debt ceiling issue.

Why would i need to refute a missed take on a fact (the budget had a surplus therefore it was not balanced)? In reality, you cannot refute the fact that the U.S. federal budget (no such thing as a total budget... you just made that up) had surpluses.

I absolutely own you in these discussions. It is fun to show just how petty, uneducated, and desperate MAGA cultists are.
I am still waiting for you to post data supporting the fact that the trump tax cuts didn't pay for the discretionary line items and interest expense
 
I am still waiting for you to post data supporting the fact that the trump tax cuts didn't pay for the discretionary line items and interest expense
Who the **** cares about such binder other than you and the other ignorant cultists....

Just for the record, it wasn't a question.
 
It isn't just the US economy that would tank with a default.
Nah man... everything that is associated with dollar denominated assets would // will take the worst shit.
you can forget any help for Ukraine because the dollar would become really worthless.
That was the whole point until lobbyists jumped in and were like WTF???
 
Who the **** cares about such binder other than you and the other ignorant cultists....

Just for the record, it wasn't a question.
Yes it was the question for you radicals who blame FIT cuts for the deficit. The facts show just how clueless you are. FIT has nothing to do with SS and Medicare shortfall
 
who blame FIT cuts for the deficit.
Nobody blames tax cuts for the deficit. That is a strawman you attack out of necessity.
The facts show just how clueless you are. FIT has nothing to do with SS and Medicare shortfall
Again... i'm not making rando ass statements about federal income taxes. You are clueless when it comes to responding to what people post.

For the nth time, there was a surplus in 1998, 1999, and 2000.
 
Nobody blames tax cuts for the deficit. That is a strawman you attack out of necessity.

Again... i'm not making rando ass statements about federal income taxes. You are clueless when it comes to responding to what people post.

For the nth time, there was a surplus in 1998, 1999, and 2000.
OMG, nobody blames the tax cuts for the deficits? You have lost it. Only most radicals
 
Nobody blames tax cuts for the deficit. That is a strawman you attack out of necessity.

Again... i'm not making rando ass statements about federal income taxes. You are clueless when it comes to responding to what people post.

For the nth time, there was a surplus in 1998, 1999, and 2000.
You are a legend in your own mind totally forgetting what you post and how you have blamed Tax cuts for the deficit and claiming the growth was the same as prior to the tax cuts. I understand completely why you want the Trump tax cuts reversed, going back to the time when all those high state and local taxes were deductible thus you paying less in FIT

As for that surplus, when you borrow money from SS and Medicare you leave it with an obligation thus a deficit that has to be funded. what good is a so called surplus that adds to the debt? Then tell me there would be interest expense if there was a surplus?
 
totally forgetting what you post and how you have blamed Tax cuts for the deficit
This is a lie. You can't produce a quote.
and claiming the growth was the same as prior to the tax cuts.
We know it was, which is why you cherry pick no incall GDP growth to make a historical comparison. When i turn your argument around and highlight $2+ trillion in nGDP growth the past two years, you don't have much to say other than liberals, civics challenged, loyalty, etc....
I understand completely why you want the Trump tax cuts reversed
To raise revenue. Doing so well reduce the deficit.
As for that surplus, when you borrow money from SS and Medicare you leave it with an obligation thus a deficit that has to be funded.
In future years.
what good is a so called surplus that adds to the debt?
What good is a surplus that coincides with additional debt issuance? 🤣
Then tell me there would be interest expense if there was a surplus?
Interest expense is a function of previous debt issuance.
OMG, nobody blames the tax cuts for the deficits? You have lost it. Only most radicals
Deficits occur when revenue < outlays.
 
This is a lie. You can't produce a quote.
Doubt, that is a lie as all you liberals are the same
We know it was, which is why you cherry pick no incall GDP growth to make a historical comparison. When i turn your argument around and highlight $2+ trillion in nGDP growth the past two years, you don't have much to say other than liberals, civics challenged, loyalty, etc....
4 Components of GDP, figure out what they are
To raise revenue. Doing so well reduce the deficit.

In future years.
Lol, then pay back the taxes you didn't pay because of high state and local tax deductions
What good is a surplus that coincides with additional debt issuance? 🤣

Interest expense is a function of previous debt issuance.
What debt issuance, SS and Medicare?
Deficits occur when revenue < outlays.
Already proved where the shortfall is, SS and Medicare. FIT wasn't created to fund SS and Medicare FICA was
 
Nobody blames tax cuts for the deficit. That is a strawman you attack out of necessity.….
Well, I blame tax cuts on the deficit. Top tax rates were 70% under Carter. They were lowered to 50% under Reagan and 3x% by other Republican presidents. Even at 50%, we wouldn’t have a deficit if those rates were maintained.

Botton line: one can’t drone about deficits and debt and call for tax cuts.
 
Doubt, that is a lie as all you liberals are the same
So you lied about me and your support was that all liberals are the same? Your posts are a joke, but it's a great way to highlight why MAGA cultists cannot be trusted.
4 Components of GDP, figure out what they are
You don't understand those components.
Lol, then pay back the taxes you didn't pay because of high state and local tax deductions
You're in no position to quantify my tax liabilities.
What debt issuance, SS and Medicare?
That's literally a stupid response. Public debt grew by $18 billion in 2000 but total excess FICA revenue was less than $180 billion. Debt should have grown by roughly $160 billion. What gives?
Already proved where the shortfall is, SS and Medicare.
This is also a lie. Your ignorance knows no bounds.
FIT wasn't created to fund SS and Medicare FICA was
FIT was created before S.S. and Medicare. Your posts make no sense.
 
Well, I blame tax cuts on the deficit. Top tax rates were 70% under Carter. They were lowered to 50% under Reagan and 3x% by other Republican presidents. Even at 50%, we wouldn’t have a deficit if those rates were maintained.

Botton line: one can’t drone about deficits and debt and call for tax cuts.
So you contributed to the loss of revenue by deducting high state and local taxes which you still refuse to acknowledge

When you raise federal taxes how does that affect state revenue
 
So you lied about me and your support was that all liberals are the same? Your posts are a joke, but it's a great way to highlight why MAGA cultists cannot be truste
All liberals are the same so I stand by my statement
You don't understand those components.
Better than you
You're in no position to quantify my tax liabilities.
Your previous location was Chicago
That's literally a stupid response. Public debt grew by $18 billion in 2000 but total excess FICA revenue was less than $180 billion. Debt should have grown by roughly $160 billion. What gives?
Where did the deficit come from since you claim I am wrong.
This is also a lie. Your ignorance knows no bounds.
Mine pales in comparison to yoir8
FIT was created before S.S. and Medicare. Your posts make no sense.
Yes it was and that is the point. FICA was created to fund SSand Medicare not the operating expenses of the US. So all that debt came from where?
 
All liberals are the same so I stand by my statement
You stand by poor reasoning. This tracks.
Better than you
More ignorance.
Your previous location was Chicago
So?
Where did the deficit come from since you claim I am wrong.
I've already explained how deficits arise.
Mine pales in comparison to yoir8
I own the least respected person (you) in these discussions.
Yes it was and that is the point. FICA was created to fund SSand Medicare not the operating expenses of the US. So all that debt came from where?
You can complain about reality and accounting, but at the end of the day, revenue exceeded outlays in 1998, 1999, and 2000. No amount of butt hurt negates this fact.
 
You stand by poor reasoning. This tracks.
So if tax cuts don't cause deficits why do we need higher taxes

More ignorance.
Read your posts
High state and local taxes that you deducted from your federal return
I've already explained how deficits arise.
you never defined what caused those deficits
I own the least respected person (you) in these discussions.
Coming from you?
You can complain about reality and accounting, but at the end of the day, revenue exceeded outlays in 1998, 1999, and 2000. No amount of butt hurt negates this fact.
Again interest expense why? What was the debt Clinton inherited, then what did Bush inherit? Keep digging that hole
 
So if tax cuts don't cause deficits why do we need higher taxes
Tax cuts generally increase revenue, unless they work to reduce consumption.
you never defined what caused those deficits
I've talked about it quite a bit actually... long term deficits exist in the U.S. because the private sector does not invest at adequate levels to maintain low unemployment in a balanced / surplus budget environment. Even as deficits have made up a majority of GDP growth, it's still at a longer term 2% trajectory.
Again interest expense why?
Bonds issued with 30 year maturity in from 1980 until 2000 were being paid interest and being rolled over. What's so difficult to understand about that?
What was the debt Clinton inherited, then what did Bush inherit? Keep digging that hole
This conversation is OVER. Clinton had a surplus for three years... you need to accept it and move on.
 
Tax cuts generally increase revenue, unless they work to reduce consumption.
They obviously increase state and local revenues as more spendable income generates sales, property, and excuse taxes. So answer the question where did the 2017-2019 deficits come from
I've talked about it quite a bit actually... long term deficits exist in the U.S. because the private sector does not invest at adequate levels to maintain low unemployment in a balanced / surplus budget environment. Even as deficits have made up a majority of GDP growth, it's still at a longer term 2% trajectory.
Where did you come up with that gem? You have no understanding of the private sector, incentive, or damage government does to businesses which impacts employment. Almost 7 million new taxpayers 2017-2019
Bonds issued with 30 year maturity in from 1980 until 2000 were being paid interest and being rolled over. What's so difficult to understand about that?
Not difficult at all, what was the money spent on creating more deficits
This conversation is OVER. Clinton had a surplus for three years... you need to accept it and move on.
And added deficits to the debt. Yours is biased, partisan, liberal ignorance
 
Well, I'm glad the Biden pukes are going to bow out...finally. They've wasted enough time already.

Now, we can get back to how Congressional bills are SUPPOSED to be dealt with: One chamber proposing and passing a bill. That chamber sending it to the other chamber to consider, amend if they see fit and possibly finally passing the bill and sending it to the WH so the President can do what is ACTUALLY his part: Signing or vetoing the bill.
Wrong on this as well..
 
Back
Top Bottom