Reply With QuoteIt's called fractional reserve banking. Most people are unaware of it. If you understood it, you would understand why our debt is necessary and why paying it off would make our money worthless.Originally Posted by PostmodernProphet
ButterMilk Man
JPP Contributor
Congress is in charge of the money moron.
I choose my own words like the Americans of olden times........before this dystopia arrived.
DARK AGES SUCK!
Verified User
It's called fractional reserve banking. Most people are unaware of it. If you understood it, you would understand why our debt is necessary and why paying it off would make our money worthless.
Verified User
No shit dumbass. It WAS a Republican led Congress that passed this bill that disproportionally benefits the uber rich. The measure was strongly pushed by your savior Donald-I want to "boink" my daughter-tRump.
Please leave your Trump 2024 signs in your yard. That way, my dog will know where to take a dump.
ButterMilk Man
JPP Contributor
This sounds a lot like when lawyers blame their behavior on their clients.
I am not having it.
I choose my own words like the Americans of olden times........before this dystopia arrived.
DARK AGES SUCK!
Verified User
Given you propensity to live in utter "denial" I am not surprised.
At some point, you are going to realize that you worshipped a "fraud".
Please leave your Trump 2024 signs in your yard. That way, my dog will know where to take a dump.
Verified User
Yeah what the hell, we spend damn near a trillion every year on defense, those starving in the streets evicted from their homes will just have to die, we don't know where the money is going to come from.
Raise taxes on those making over 400,000 and make them 50-60% for those making over 10 million, then eliminate any cutoff on social security taxes, that's where you get it.
Verified User
You got it! You never heard the repubs bitching about spending under trump when we should have been able to balance a budget. Now we have a democrat in there it's the first thing the assholes in the senate will say. The fucking teabagger mentality, I'm like Reagan, "Do what you must, the deficit is big enough to take care of itself".
fully immersed in faith..
sure.......it's logical.......I know I have no hope of living if I have money in the bank and don't owe anyone anything........
tell me this.......why would the nation fail if, instead of the required minimum reserve banks had a higher percentage of people's cash on hand in the bank
Isaiah 6:5
“Woe to me!” I cried. “I am ruined! For I am a man of unclean lips, and I live among a people of unclean lips, and my eyes have seen the King, the Lord Almighty.”
Honoring my oath
It's like COVID: we could have controlled the virus without mandates if the US leadership had kept us informed and provided leadership by example. Now, it's so out of control, barring an effective, easily available vaccine, medical mandates may be the only way to stop it.
The budget is the same way. It's so far out of control the only solution is for our leaders to set up an austerity plan and raise taxes. Unfortunately, like COVID, they'll probably keep their heads in the sand and nothing will change until the entire thing is collapsing.
Notice the chart below is debt as a percentage of GDP. Notice the spike and how debt is over 40% greater than GDP.
https://fred.stlouisfed.org/series/GFDEGDQ188S
"Hatred is a failure of imagination" - Graham Greene, "The Power and the Glory"
Diversity Makes Greatness
Hello Tacomaman,
Exactly.
Beats the heck out of me why Democrats, who have been far better to the Federal Budget for decades, don't make more of an issue out of this.
Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.
Insane Level of Addiction
You're free to support, or not support, whatever spending you want. The OP is about the soaring debt and the trillions in proposed stimulus spending. Raising taxes isn't going to cover the amount of spending being talked about.
Diversity Makes Greatness
Hello Michael_Panetta,
Either extreme makes our money worth less.
If we allowed the debt to GDP ratio to get too high, our money would lose value.
We have to manage our debt responsibly to keep our credit, and ability to carry that debt, strong.
Debt/GDP must be kept in the 'sweet spot.'
It is debatable where that 'sweet spot' is.
50% would be good.
It is now 128%.
Debt is $27 Trillion.
GDP is $21 Trillion.
CURRENT US DEBT FIGURES
Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.
Insane Level of Addiction
Well, if you're concerned about the debt soaring why would you complain that Republicans in Congress will be more fiscally conservative? You can (rightfully) complain about when they chose to do so but not sure why you complain them doing it however.
Diversity Makes Greatness
Hello cawacko,
Because it is obviously false.
When they can find no other fault with Democrats, they resort to the debt.
And they themselves caused the increase with irresponsible tax cuts for the rich and for Trump.
How many people here paid more than $750 tax last year?
Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.
Insane Level of Addiction
If you care about the debt why do you get upset when people focus on it to lower it?
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