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  1. #1
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    Default National debt hits historic $20 trillion mark

    https://www.cbsnews.com/news/nationa...trillion-mark/



    "The U.S. national debt reached $20 trillion for the first time ever last Friday after President Trump signed a bipartisan bill temporarily raising the nation's debt limit for three months.

    While at Camp David, Trump, with the stroke of his presidential pen, increased the statutory debt last Friday by approximately $318 billion, according to the Treasury Department.

    The $318 billion increase raised the U.S. national debt to $20.16 trillion by Friday. Since Trump's inauguration, the debt has increased about $215 billion from around $19.94 trillion."


    Wasn't one of the Trump's campaign promises to decrease or wipe out the national debt? Or is the debt not important anymore?

    Now, with increased military spending and decreased income tax on higher earners it's gonna be hard to do that. They'll have to massively increase taxes on you guys or pretty much stop other programs. Maybe all of them?

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  3. #31
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    Quote Originally Posted by altair1013 View Post
    Excellent. But that's you. Mainly it's been across the board dead liberal silence as Obama doubled the national debt. Your thread is legit.

    Rand Paul wants to cut foreign aid in order to fund hurricane relief. I like the idea. We are flat dead broke. We cannot afford to fund other countries at this point. What do you think?
    How can we spend $4T if we are "flat dead broke"?

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  5. #32
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    Quote Originally Posted by smyrna View Post
    A 215 billion dollar increase over approximately 7.5 months in office, equates to an increase of 1.376 trillion during his administration. I'd call that quite an improvement. Also, if the slow down continues at the same rate vs the previous administration, we are well on our way to a balanced budget.......amirite?
    The slow down won't continue at the same rate if Trump passes the biggest tax cut in history like he says he will.

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  8. #33
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    Quote Originally Posted by MoleUK View Post
    Change? He's going to increase it.

    The freedom caucus is now admitting that they have no problem with tax reform/cuts not being revenue neutral, as they claimed under the Obama years.

    And they all just signed off on a debt ceiling increase without a single cut to expenditures, which they never agreed to under Obama.

    With President Hillary, you'd have seen Republican insist on cuts and freezes. Doubt you'll see the same under President Trump.
    Did the members of the Freedom Caucus actually vote in favor of the recent debt ceiling increase? I thought I read they had opposed it and voted against the measure. But with Democratic support coupled with moderate Republicans it passed. Am I incorrect?

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  10. #34
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    The national debt is too unimportant to get the attention that it does.
    "We are, if elected president, going to invest a lot of money into mental health, and when you watch these Republican debates, you know why." --Bernie Sanders

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    Quote Originally Posted by snow96 View Post
    The only way it will ever happen is with a balanced budget amendment.

    ...
    There is another way.

    The house of cards will collapse, and the world will be plunged into a financial abyss that will make the Great Depression look like a picnic. And we will be FORCED -- practically overnight -- to pay the piper. (Which, of course, we will be unable to do, thus the financial apocalypse that will ensue.)

    We don't have the political courage in our government to do what really needs to be done. Nor do we have it as a population to absorb the lifestyle change required to pass a balanced budget. We'd rather keep the frat party rolling for as long as the casks and kegs and bongs hold out.
    ... deliver us from evil.

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  14. #36
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    Quote Originally Posted by Nebraska Football View Post
    Did the members of the Freedom Caucus actually vote in favor of the recent debt ceiling increase? I thought I read they had opposed it and voted against the measure. But with Democratic support coupled with moderate Republicans it passed. Am I incorrect?
    Meant Republicans in general, but I did think the freedom caucus et al signed off as well. But you're right, 2/3rds of the freedom caucus voted against it, and half the RSC.

    Though Meadows has since defended it as a "necessary evil".

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  17. #37
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    Quote Originally Posted by MoleUK View Post
    Meant Republicans in general, but I did think the freedom caucus et al signed off as well. But you're right, 2/3rds of the freedom caucus voted against it, and half the RSC.

    Though Meadows has since defended it as a "necessary evil".
    Fair enough. It was not meant as a call out of you, rather genuine curiosity, as I had not read a ton of information on the Yea's versus Nay's.

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  19. #38
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    Quote Originally Posted by Nebraska Football View Post
    Fair enough. It was not meant as a call out of you, rather genuine curiosity, as I had not read a ton of information on the Yea's versus Nay's.
    A correction is never a callout, it's all good.

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    Quote Originally Posted by tnt View Post
    that's not true at all. He didn't even try to get harvey relief any other way. He could have shamed congress into signing a clean relief bill.

    But instead, Dems and GOPers joined forces and decided to get the debt ceiling out of the way, and Trump went along with it.
    Not really, basically any relief bill would go into the deficit category, and the debit limit had been reach. No place to really make any cuts to the budget to allow it. Now The Dems wanted a short term bill, Repubs wanted an 18 month. Short term keeps cuts possible later this year, since apparently from what I understand it was also a CR to keep the government funded through December as well (Aka no government shut down October 1).

    And hurricane relief is NOT a time to play politics with bills.
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    Quote Originally Posted by MoleUK View Post
    This isn't remotely true. Funding for Harvey relief had already passed the house by over 400 votes. There was no prospect of Democratic opposition in the Senate.
    What bill passed the house? Was it the republican one that wanted debit limit increase for 18 months? Or was it a stand alone funding bill that would not be able to be paid because the debt limit would have been reached that got the 400 votes?

    Remember, the way it works right now is they go hand in hand. Congress can pass as many spending bills as they want, but if the legal debit limit is reach and those bills would need deficit funding, they won't get funded.
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    Quote Originally Posted by snow96 View Post
    What bill passed the house? Was it the republican one that wanted debit limit increase for 18 months? Or was it a stand alone funding bill that would not be able to be paid because the debt limit would have been reached that got the 400 votes?

    Remember, the way it works right now is they go hand in hand. Congress can pass as many spending bills as they want, but if the legal debit limit is reach and those bills would need deficit funding, they won't get funded.
    Even if the debt ceiling was reached, the government has plenty of tax dollars coming in each month to pay for the hurricane relief bill. They're not connected at all, it was a political ploy to get the debt ceiling passed quickly and quietly.

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    Quote Originally Posted by snow96 View Post
    Not really, basically any relief bill would go into the deficit category, and the debit limit had been reach. No place to really make any cuts to the budget to allow it. Now The Dems wanted a short term bill, Repubs wanted an 18 month. Short term keeps cuts possible later this year, since apparently from what I understand it was also a CR to keep the government funded through December as well (Aka no government shut down October 1).

    And hurricane relief is NOT a time to play politics with bills.

    That's not how the debt ceiling works - there is no need to raise the ceiling before passing hurricane relief.

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  30. #43
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    Quote Originally Posted by dantes View Post
    Even if the debt ceiling was reached, the government has plenty of tax dollars coming in each month to pay for the hurricane relief bill. They're not connected at all, it was a political ploy to get the debt ceiling passed quickly and quietly.
    So what don't you pay? What do you pull money from?

    Why rob peter to pay paul?

    Not to mention if there is no budget passed by october 1 everything comes to a crashing hault.

    Extending the debit limit for the bill was a good thing.

    Now as I have said before . . . personally I don't think there should be a debit limit. Congress critters need to man up and make the hard choices the first time not play kick the can down the road . . . and "oh I voted for the budget, but I knew I could try and get cuts later".

    The debit limit is a chicken **** gimmick for the congress critters, and many of sheeples buy into it lock stock and barrel.
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  32. #44
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    Quote Originally Posted by Borgia View Post
    Republicans didn't care when Reagan tripled the debt. They didn't care when Bush II doubled the debt.

    We're just pointing out YOUR incredible hypocrisy on the debt.
    That isn't remotely true. What happened to revenues under Reagan?

    What happened to the promised 2 dollars in spending cuts for every new dollar of Revenues that Democrats made in the budget deal?

    Republicans, conservatives in particular were mad as hell.

    Reagan didn't triple the debt, the lying assed democrats who refused to honor their bargain did.
    Don't Blame Me I voted for Cruz! Without the 1st & 2nd Amendments the rest of The Constitution is meaningless
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  34. #45
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    Quote Originally Posted by snow96 View Post
    So what don't you pay? What do you pull money from?

    Why rob peter to pay paul?

    Not to mention if there is no budget passed by october 1 everything comes to a crashing hault.

    Extending the debit limit for the bill was a good thing.

    Now as I have said before . . . personally I don't think there should be a debit limit. Congress critters need to man up and make the hard choices the first time not play kick the can down the road . . . and "oh I voted for the budget, but I knew I could try and get cuts later".

    The debit limit is a chicken **** gimmick for the congress critters, and many of sheeples buy into it lock stock and barrel.
    You can shut down all sorts of other governmental functions and furlough their employees. Government shutdowns are hardly shutdowns at all, we both know this. The relief bill was only a few billion and going to be doled out over many months or years. It's minuscule when compared to the money coming into the government each month.

    I wish they'd get rid of the debt limit too, but connecting it to the relief bill was absolutely a political move on the part of Congressional leaders.

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