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President Biden: The NEW one and only politics thread

Discussion in 'Sports and News' started by Moderator1, Jan 20, 2021.

Page 3806 of 8921
  1. The Big Ragu

    The Big Ragu Moderator Staff Member

    Discussions you hear when crack addicts are desperate to keep the high going?
     
    The Big Ragu, Oct 18, 2022
    #45661
    justgladtobehere likes this.
  2. DanielSimpsonDay

    DanielSimpsonDay Well-Known Member

    [​IMG]
     
    DanielSimpsonDay, Oct 18, 2022
    #45662
    maumann and matt_garth like this.
  3. Slacker

    Slacker Well-Known Member

    YGBFKM. ... Mr. Sunshine just shot off in his pants. :cool:
     
    Slacker, Oct 18, 2022
    #45663
  4. Regan MacNeil

    Regan MacNeil Well-Known Member

    I don't want to keep the high going. I want the economy to fail. Just so you can be proven right.
     
    Regan MacNeil, Oct 18, 2022
    #45664
  5. doctorquant

    doctorquant Well-Known Member

    It's been awhile since we've had one of these "looming" ... remind me how "not raising the debt ceiling" = "default". I'm honestly not being contentious with this ... I'm just curious as to the mechanisms behind one necessarily leading to the other.
     
    doctorquant, Oct 18, 2022
    #45665
  6. Deskgrunt50

    Deskgrunt50 Well-Known Member

    The GOP is basically just the fucking mob at this point. Don't get exactly what they want? Burn it all down. Lose an election? Fuck it, claim victory anyway. That doesn't work? Try to overthrow the government.

    Yeah, call them on it. The debt ceiling nonsense backfires on them every time. And they want to cut social security and medicare? Go ahead. Fuck around and find out.

    And not for nothing, isn't the solvency math on social security going to drastically change relatively soon? Boomers are dying. Gen X (me) is way smaller in population. We'll take a whole lot less of the current pie.
     
    Deskgrunt50, Oct 18, 2022
    #45666
    Slacker, heyabbott, Driftwood and 2 others like this.
  7. The Big Ragu

    The Big Ragu Moderator Staff Member

    It doesn't necessarily mean a credit default. ... but something has to give if they can't borrow. ...

    Our Federal government runs on escalating levels of borrowed money. Congress continually spends in a profligate way and does not bring in nearly enough revenue to meet its spending. That creates a fiscal deficit, and it requires our treasury to borrow.

    Once they hit the debt ceiling, the treasury can no longer borrow unless Congress raises its debt limit to allow more borrowing. If they don't raise the limit, something has to give obviously.

    A credit default on our public debt could be one way to deal with that circumstance. But they could conceivably avoid a credit default by closing parts of the government to save money, and not making scheduled payments on things like Medicare, Medicaid, Social Security, veteran's benefits, etc. rather than defaulting on notes and bonds they've issued.
     
    The Big Ragu, Oct 18, 2022
    #45667
  8. doctorquant

    doctorquant Well-Known Member

    Thought that was it.
     
    doctorquant, Oct 18, 2022
    #45668
  9. garrow

    garrow Well-Known Member

    So, the first thing a GOP House would do ISN'T banning drag queen story hour?!?!?
     
    garrow, Oct 18, 2022
    #45669
    HanSenSE, tapintoamerica, Inky_Wretch and 1 other person like this.
  10. dixiehack

    dixiehack Well-Known Member

    I truly wonder if the Ragus of the world grasp that the social safety net programs they despise are a relief valve that keep the common rabble from burning shit down and looting the pieds-a-terre in the silk stocking district if things truly collapse.
     
    dixiehack, Oct 18, 2022
    #45670
    Fred siegle, tapintoamerica and Woody Long like this.
  11. Regan MacNeil

    Regan MacNeil Well-Known Member

    The oligarchy he so clearly admires can afford its own security. They'll be fine.
     
    Regan MacNeil, Oct 18, 2022
    #45671
    Mr. Sluggo likes this.
  12. Woody Long

    Woody Long Well-Known Member

    And one day, it'll trickle down to the rest of us, because something something something free markets.
     
    Woody Long, Oct 18, 2022
    #45672
    Fred siegle, Mr. Sluggo and tapintoamerica like this.
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