Does the House GOP have any understanding of the debt ceiling and its consequences?

People really don't get it.

I mean, we're already on our way out of being a superpower anyway - but this will make that happen a lot faster. We'll be a 2nd rate economic power, and lose all kinds of credibility internationally. It will accelerate the devaluing of the U.S. dollar.

And man, will workers here suffer. Job losses, wage decreases, a full-blown Recession (at minimum). It's amazing how lightly people are taking this. It's a complete misunderstanding of the consequences.
 
Concart said:
That's not what we're talking about. We are talking about raising the debt ceiling. Which means we are agreeing to pay what WE'VE ALREADY SPENT.

If we don't, here's what will happen. We will default on our debt. We will tell those people who hold Treasuries that we won't pay them back. We will stop paying social security, and medicare. We will stop paying our military, and all government employees. The interest rate on Treasuries will go up, probably 3-5 percent. Which means the cost of borrowing will go up as well. Consumer spending will tank, our cost to borrow money will skyrocket, and businesses will lay off millions of people in preparation for the inevitable downturn of sales. Millions more unemployed. Massive recession. A stock market crash.

You think that would be a good thing? Cool. Let me recommend economics for dummies. Where you may learn that increasing revenue is also a way of getting out of debt. Go figure.
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I can't understand how you can possibly believe you are intelligent. have you not paid ANY attention to how the republicans and democrats have played this fucking game with OUR money?

raising the debt ceiling GUARANTEES that more money will be spent. you can be willfully ignorant of that fact all you want, but it is a fact.
politicians of both parties, along with their idiot base, ALWAYS throw out the threat of not being able to pay SS or medicare or the military. Common sense SHOULD tell you that if you can't pay those things without borrowing more money, you're doing something wrong.

again, given the choice between busting the debt bubble and dealing with the pain of recession OR adding TRILLIONS more debt to our nation, i'll take the pain now instead of the crippling later.
 
Nordberg said:
Check the graphs. The Repubs are the president who spend like crazy and add bigly to the debt. Since Reagan, slashing taxes on the wealthy and corporations has been their reason to govern. They also jack up military spending. It is easy to see they are big spenders. They claim to be "fiscal conservatives". Yeah, right. That actually fools the rightys.
Default would be a disaster. Note it is the Repubs who want it. Really dumb ones like you for example. are asking for a fiscal disaster, for some reason.
The real reason is likely that they think the Dems will get the blame.
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i get the political game. what YOU and the rest of you morons can't seem to fathom, probably because you can't think in anything more than two dimensions, is I ALWAYS blame both parties. you can't handle truth and reality making you look stupid, so all you have left is to throw a false label on me.

here's your reality....BOTH parties tax and spend. BOTH!!!!!!

now what part of that don't you want to understand?
 
SmarterthanYou said:
i get the political game. what YOU and the rest of you morons can't seem to fathom, probably because you can't think in anything more than two dimensions, is I ALWAYS blame both parties. you can't handle truth and reality making you look stupid, so all you have left is to throw a false label on me.

here's your reality....BOTH parties tax and spend. BOTH!!!!!!

now what part of that don't you want to understand?
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https://www.investopedia.com/us-debt-by-president-dollar-and-percentage-7371225
I cannot understand how you act so sure when you are wrong over and over. This is just another example. Clinton paid down the debt. FDR had to fight the great depression. Obama fought the potential second great depression. They had to fix Repub messes. But Reds just keep on cutting revenue (taxes to the wealthy and corporations) while spending like crazy. You are so lost.
 
archives said:
”Freedom Caucus says ‘no further discussion’ on debt ceiling until Senate passes House GOP bill”

“The House Freedom Caucus is calling for “no further discussion” on legislation to raise the debt ceiling until the Senate passes the bill House Republicans approved last month that would pair an increase in the borrowing limit with steep spending cuts.”

https://thehill.com/homenews/house/...t-ceiling-until-senate-passes-house-gop-bill/

These same hypocrites gladly raised the debt ceiling twice for their Messiah even while he was setting new records adding over eight trillion to the debt in only four years

I really think these clowns have zero understanding of what the debt ceiling actually is, and the consequences to the country if it is not passed. From their perspective, it is only a tool they can use politically regardless of the harm it can cause the economy and all Americans, actually, the way they look at it, any resulting damage is good, more ammo for 2024. Not quite what the Founders had in mind
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People better wise up and realize the Freedom Caucus has been intentionally and strategically installed into Congress to destroy Democracy, corrupt our legislative process, drive us towards an autocracy, and destroy the American Government.

They all need to be taken out and hung as traitors! And right now, thanks to McCarthy selling his soul to the devil to be House Speaker, the Freedom Caucus is leading the House Of Representatives.

Look, I just tell it like it is- EVEN IF THE TRUTH HURTS! [Geeko Sportivo]
 
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Nordberg said:
https://www.investopedia.com/us-debt-by-president-dollar-and-percentage-7371225
I cannot understand how you act so sure when you are wrong over and over. This is just another example. Clinton paid down the debt. FDR had to fight the great depression. Obama fought the potential second great depression. They had to fix Repub messes. But Reds just keep on cutting revenue (taxes to the wealthy and corporations) while spending like crazy. You are so lost.
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your tax and spend partisan ignorance is showing again. congress holds the purse strings. between the two parties, NOBODY wants to cut spending. Democrats want to raise taxes and republicans want to spend more on military and cops by taking away entitlements......

you are the one that is lost, so lost, due only to your partisan ignorance.
 
Concart said:
So, you'd like us to go into a massive recession where millions of people will lose their jobs. Sounds like a plan. You don't state the basics because you don't understand them. I have a masters degree in economics. You get your knowledge from a cracker jack box. Not surprised that you cannot articulate your position. You are too fucking stupid.
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A high debt will put us into a recession and cost millions of jobs.

You should know this if you are schooled in economics
 
Tinkerpeach said:
A high debt will put us into a recession and cost millions of jobs.

You should know this if you are schooled in economics
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Defaulting on the debt will cost more jobs and put us into a deeper recession while at the same time causing inflation and increased deficits because the interest on the debt will more than double.
 
SmarterthanYou said:
your tax and spend partisan ignorance is showing again. congress holds the purse strings. between the two parties, NOBODY wants to cut spending. Democrats want to raise taxes and republicans want to spend more on military and cops by taking away entitlements......

you are the one that is lost, so lost, due only to your partisan ignorance.
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You cannot read well. I did not know graphs were beyond you too. Do you know the top tax rate was over 90 percent during Ike? Now it is 37. Of course, few were actually paying over 90, just as few pay 37 percent. But on a good day, you may be able to understand why the revenue has sunk. We collect less sand and have an enormous military budget that grows as taxes drop.
 
Nordberg said:
You cannot read well. I did not know graphs were beyond you too. Do you know the top tax rate was over 90 percent during Ike? Now it is 37. Of course, few were actually paying over 90, just as few pay 37 percent. But on a good day, you may be able to understand why the revenue has sunk. We collect less sand and have an enormous military budget that grows as taxes drop.
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at no point in time did the founders EVER envision a nation of freedom to tax people for 30% of their income, let alone 90. Again, something you tax and spend idiots refuse to understand, it's not about revenues, it's about spending. we spend way too much for way too little. It's almost like you willfully ignore the fact that millions and millions of those dollars do nothing but line the wallets of politicians and their cronies.
 
Poor Richard Saunders said:
Defaulting on the debt will cost more jobs and put us into a deeper recession while at the same time causing inflation and increased deficits because the interest on the debt will more than double.
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The republicans already offered to raise the debt ceiling with spending cuts.

It’s killing two birds with one stone but the democrats don’t want to cut spending

During the last budget talks the republicans put up a ton of spending cuts but the democrats blocked them.

This entire thing is the fault of the democrats
 
Tinkerpeach said:
Why are the democrats against cutting spending?
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Proves they are clueless

Debt ceiling has nothing to do with future spending, zero, zip, it is all about paying debts, and maintaining the nation’s economic integrity, which is why the U.S. has never failed to raise the ceiling to cover debts, spending comes with budget negotiations
 
archives said:
Proves they are clueless

Debt ceiling has nothing to do with future spending, zero, zip, it is all about paying debts, and maintaining the nation’s economic integrity, which is why the U.S. has never failed to raise the ceiling to cover debts, spending comes with budget negotiations
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The democrats refused to cut spending during the budget negotiations meaning the debt ceiling will constantly have to be increased meaning higher inflation, slower growth, higher job loss so they are forcing the republicans into this
 
so if the the u.s. "defaults" does that mean that blackwater and lockheed martin just immediately start working for china?

if their single payer honey pot is gone?
 
Tinkerpeach said:
The republicans already offered to raise the debt ceiling with spending cuts.

It’s killing two birds with one stone but the democrats don’t want to cut spending

During the last budget talks the republicans put up a ton of spending cuts but the democrats blocked them.

This entire thing is the fault of the democrats
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The Republicans have offered to defund the CIA, the FBI, the IRS, the FAA, the National Parks, etc. Only a fool would accept that as valid offer.
 
Tinkerpeach said:
Without cutting future spending the debt ceiling will have to be constantly raised.

Since democrats refuse to cut spending they are forcing republicans to use the tools they have to get them to the table.

When our debt gets too high it raises inflation and slows economic growth leading to job loss meaning more people using social services which we can’t pay meaning we have to borrow even more money and the problem just gets worse
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You are all wrong

Spending is done with budget negotiations, the debt ceiling has nothing to do with spending, nothing, zip, zilch, holding it up for future spending cuts is 100% political, it is jeopardizing the country’s economy, America has always passed the debt ceiling
 
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