Bidenomics: US credit worthiness downgraded

T. A. Gardner said:
Oh, so you think taxing the snot out of corporations and the rich will work. It won't. They'll leave. They'll go somewhere else. People and corporate leaders don't mind paying reasonable taxes but won't put up with being robbed.

Both parties created budget deficits, but that isn't the biggest problem with the federal budget. About 66%, two-thirds of it is inviolate. That is, the spending is mandatory, budget increases are usually tied to inflation and automatic, and there is no way to stop that. About 75% of that sort of thing is social-welfare spending so it doesn't really generate any economic growth as a result.

Both parties are guilty of using the budget to get political gain, so get off your high horse that it is somehow just the Republicans you fucking retard.

Government spending mostly doesn't grow the economy. Small portions of it may, but that's miniscule to the overall waste in government spending.

Credit gets downgraded when there's too much government spending and not enough economic growth. The economy isn't growing very fast at the moment, particularly when you take inflation rates into account.
Click to expand...

Trickle down, or should we say trickle up economics that the bought off GOP have been pushing for years is responsible for the massive budget deficits.
 
Trumpet said:
Trickle down, or should we say trickle up economics that the bought off GOP have been pushing for years is responsible for the massive budget deficits.
Click to expand...

Way to change the subject. It's about as valid an economic theory as Keynesian economics, and less damaging.
 
T. A. Gardner said:
Way to change the subject. It's about as valid an economic theory as Keynesian economics, and less damaging.
Click to expand...

The billionaires and big corporations who fund, own, and operate the GOP don't want to pay their fair share of taxes; they are the people who want their cake and want to eat it to.
 
Trumpet said:
The billionaires and big corporations who fund, own, and operate the GOP don't want to pay their fair share of taxes; they are the people who want their cake and want to eat it to.
Click to expand...

Oh, like they don't give huge money to the Democrats to own and operate that party...?
 
T. A. Gardner said:
Bullshit! It's because we've run up the credit cards, so to speak, and the credit rating people are saying we are increasingly unlikely to be able to make the payments. Thus, down goes the credit score. That's not a Republican or a Democrat thing. Both parties deficit spend. The only way to fix that is stop spending!
Click to expand...

It's too late already. There is no way the government can pay it's debt with anything but funny money.
Spending will stop, but in an uncontrolled manner.
 
Tinkerpeach said:
I believe we are now seeing the beginning of the collapse of the US economy.
Click to expand...

We are already in economic depression and have been since the Democrats started it in 2019. Biden's 'economic success' stories are just blatant lies. The shortages and the inflation continue. More businesses are failing and the businesses lost during the onset of the depression are gone for good.

Faith in the dollar is waning pretty fast. People are already looking around for another currency (Bitcoin was favored for awhile, but gold is also favored at the moment). If faith is lost in the dollar, NOTHING the government can do will stop a shift to another currency now. Civil war is already imminent.
 
Doc Dutch said:
No doubt you are wetting your seat over the idea, comrade Tink.

What do you think will happen to the global economy should the US economy collapse? Did you study such instances in your history classes?
Click to expand...

Now that you bring it up, Sock...

Every nation of any economic significance is already on fiat currency. Every nation is also spending beyond it's ability to repay. Every nation is involved in the race to the bottom. The world has never been here before. There IS NO HISTORIC INSTANCE.
 
Concart said:
"In addition to the debt ceiling, Fitch has also cited a potential recession, a failure to reach consensus on fiscal challenges and Republican attempts to contest the 2020 election as factors weighing on its decision."

https://www.politico.com/news/2023/08/01/fitch-downgrades-u-s-debt-00109288

Yes, it is about the debt ceiling and Trumps false claims of a stolen election and his attempts to overthrow the government. There is ONE party responsible. Period. Full stop.
Click to expand...

Fitch did not list any such as factors. False authority fallacy.
There was no election in 2020. The election was stolen by Democrats. It was DEMOCRATS that conducted the coup.
 
Doc Dutch said:
No doubt she was taught those things along with the idea that slavers were doing the slaves a favor by bringing them to America. What she wasn't taught was the death rate of the middle passage aboard slave ships much less the death rate of slaves on Southern plantations.

https://www.statista.com/statistics/1070565/middle-passage-death-rate-by-destination-1501-1866/


https://en.wikipedia.org/wiki/Slave_health_on_plantations_in_the_United_States
Click to expand...

Pivot fallacy. The only one talking about slaves is you.
 
You must log in or register to reply here.
Back
Top