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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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    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?
    Let's start at the top. Which country receives the most US aid per year?
    A little nonsense now and then is relished by the wisest men. - Willy Wonka

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  6. #17
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    Quote Originally Posted by Guvnah View Post
    Yes, one of Trump's promises was to wipe out the debt. It was one of many impossible promises he made.

    The fact that he hasn't wiped it out yet doesn't mean that it's not important. But so far I haven't seen much to change my opinion that he's never going to change our federal spending deficit, never mind our debt.

    All the same, I still prefer him for President than Hillary. (Or any Dem!)
    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.

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  9. #18
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    Quote Originally Posted by altair1013 View Post
    Wait. Didn't Obama double the national debt? And the entire time he was in office ya'll remained totally silent. And now all of the suddent you care? Give me a break.You only care when a republican is in office. This is totally dishonest.
    I think the point is, the GOP and talk radio conservatives have been apoplectic about the debt for the last 8 years. Now they don't seem to care about it.

    Pointing out that hypocrisy doesn't mean you necessarily agree with their original point.

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    Let's be honest. Very few care about the dept in any meaningful way. Most are just partisan in their concern. We are addicted to spending as everything is deemed too important to cut and no one wants to pay more to cover it.
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    Quote Originally Posted by CaughtInTheMiddle View Post
    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?
    The only way it will ever happen is with a balanced budget amendment.

    And Trump was kind of over a barrel. Only way to get funding for Harvey relief was to increase the debit limit in some way. Also irregardless of what he says, the president can wiggle his nose, wave a magic wand, or use a pen and a phone and make up his own budget and tax rates. Congress has to do that, and over the last decade both the R's and D's have proven they are basically worthless in working toward a balanced budget in any shape or form.
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    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?
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    Quote Originally Posted by snow96 View Post
    The only way it will ever happen is with a balanced budget amendment.

    And Trump was kind of over a barrel. Only way to get funding for Harvey relief was to increase the debit limit in some way. Also irregardless of what he says, the president can wiggle his nose, wave a magic wand, or use a pen and a phone and make up his own budget and tax rates. Congress has to do that, and over the last decade both the R's and D's have proven they are basically worthless in working toward a balanced budget in any shape or form.

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    Quote Originally Posted by altair1013 View Post
    Wait. Didn't Obama double the national debt? And the entire time he was in office ya'll remained totally silent. And now all of the suddent you care? Give me a break.You only care when a republican is in office. This is totally dishonest.
    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.
    The point is, you can never be too greedy.

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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?
    What happens when you factor in defense spending increase, infrastructure plan and planned tax cuts?

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

    And Trump was kind of over a barrel. Only way to get funding for Harvey relief was to increase the debit limit in some way. Also irregardless of what he says, the president can wiggle his nose, wave a magic wand, or use a pen and a phone and make up his own budget and tax rates. Congress has to do that, and over the last decade both the R's and D's have proven they are basically worthless in working toward a balanced budget in any shape or form.
    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.

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    Quote Originally Posted by Red Cell Maxim View Post
    Let's be honest. Very few care about the dept in any meaningful way. Most are just partisan in their concern. We are addicted to spending as everything is deemed too important to cut and no one wants to pay more to cover it.

    Yeah, well, it is true that the things we spend money on is more important to the health of the country than worrying about debt.

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

    And Trump was kind of over a barrel. Only way to get funding for Harvey relief was to increase the debit limit in some way. Also irregardless of what he says, the president can wiggle his nose, wave a magic wand, or use a pen and a phone and make up his own budget and tax rates. Congress has to do that, and over the last decade both the R's and D's have proven they are basically worthless in working toward a balanced budget in any shape or form.
    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.

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  33. #28
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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.
    They were already signing a clean relief bill.

    That's what makes this "deal" even more of a total surrender.

    This was about avoiding a debt limit fight, nothing to do with disaster relief, that was just a fig leaf for the rubes.

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    Quote Originally Posted by Adam View Post
    What happens when you factor in defense spending increase, infrastructure plan and planned tax cuts?
    I can't wait to find out. How about you? Is this spending decrease good news or what?
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    Quote Originally Posted by smyrna View Post
    I can't wait to find out. How about you? Is this spending decrease good news or what?
    It's fine. It's also the Obama administration budget. Trump's budget seems primed to explode the deficit.

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