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

Tinkerpeach said:
You don’t understand how debt works. The higher our debt the less we have to spend on social services because more money has to go to interest rates
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Interest rates? You kidding, if the nation defaults on its debt, borrowing in the future will cost miles more than it does now
 
SmarterthanYou said:
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.
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Raising the debt ceiling does not guarantee that more money will be spent. You don't have a clue about any of this. It's sad, really.
 
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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No. No. And another thousand time no. We already have high debt. We have had it for decades. It has NOTHING to do with the business cycle. Zero. I know this BECAUSE I am schooled in economics, and you are quite clearly, not.

If you want to see a massive recession, sky high interest rates, and millions of lost jobs, then don't raise the debt ceiling. Because that's what would happen if you default.
 
SmarterthanYou said:
given a choice between adding a few more trillion to our debt or default, i'll take default. if you can't understand why continuing to increase the spending, then no amount of trying to explain basic shit to you is going to solve anything.

In other words, go the fuck away and let adults try to deal with the shit you've caused.
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Another one who proves my point, they are clueless

The debt ceiling has nothing to do with spending, nothing at all, it is about honoring your debt, bills due. Saying we should default is idiotic, never been done in US’s history, and if done, would have catastrophic results, not to mention it would increase spending down the road given interest rates will accelerate quickly


Budget negotiations is when you discuss spending
 
Concart said:
No. No. And another thousand time no. We already have high debt. We have had it for decades. It has NOTHING to do with the business cycle. Zero. I know this BECAUSE I am schooled in economics, and you are quite clearly, not.

If you want to see a massive recession, sky high interest rates, and millions of lost jobs, then don't raise the debt ceiling. Because that's what would happen if you default.
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So you are trying to tell us that debt has no impact on us?

You should have went to a better school
 
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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Biden could prevent a default. If we do default it will be Biden's fault.
 
ExpressLane said:
Biden could prevent a default. If we do default it will be Biden's fault.
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That's not an accurate take. It's kind of a Republican pipe dream.

It's not how it will play out. Conservatives will try to blame Biden - but it's glaringly obvious who will be responsible if it really happens. Only the hardcore GOP base will buy that it's on Biden.
 
BartenderElite said:
That's not an accurate take. It's kind of a Republican pipe dream.

It's not how it will play out. Conservatives will try to blame Biden - but it's glaringly obvious who will be responsible if it really happens. Only the hardcore GOP base will buy that it's on Biden.
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This will be the Biden default. No way around that. The ball is clearly in his court.
 
ExpressLane said:
This will be the Biden default. No way around that. The ball is clearly in his court.
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Why is it in his court? Because Republicans have a bill that's a wish list for what they want?

We owe money. We have to pay it. If the GOP tries to use that as some sort of leverage for their agenda, they'll only fool those who are willing to be fooled.
 
Concart said:
If someone gets the blame, that would mean we defaulted and our economy is in the deepest recession since the Great Depression. Default would make 2008, and even Covid look like a picnic. It can't happen. it is the one thing that should NEVER be used as a political tool. Which means, of course, that's exactly what Republicans will do. But in the end, even if McCarthy has to make a deal with Democrats, we will pass a debt ceiling bill. There is talk that Democrats will save McCarthy's speakership if that happens. Seems like a long shot, but you never know.
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I suspect that we won't default, despite the gibbering RW chimps and their posturing. What do you mean though about the Dems saving McCarthy's position?
 
ThatOwlWoman said:
I suspect that we won't default, despite the gibbering RW chimps and their posturing. What do you mean though about the Dems saving McCarthy's position?
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If his speakership went to a floor vote, which it certainly would, then Dems could join the Republicans and save McCarthy instead of voting for Jeffries.
 
ExpressLane said:
Biden could prevent a default. If we do default it will be Biden's fault.
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Wrong, Biden wants to honor America’s debt, to pay its bills, McCarthy just wants to milk the crisis for political gain, proven by the fact that twice under Trump, while Donnie was adding eight trillion to the debt, he was eager and happy to pass a clean debt bill.

America ain’t stupid, they see the hypocrisy
 
ThatOwlWoman said:
I suspect that we won't default, despite the gibbering RW chimps and their posturing. What do you mean though about the Dems saving McCarthy's position?
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I believe we will, hoping I am wrong, but, as I said in the offset, I really believe many House Republicans don’t understand what the debt ceiling is or the consequences of defaulting, nor do they care
 
archives said:
I believe we will, hoping I am wrong, but, as I said in the offset, I really believe many House Republicans don’t understand what the debt ceiling is or the consequences of defaulting, nor do they care
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They pay lip service to the debt/budget, but in reality all they really care about is sticking it to Biden. If we do default, this will be a classic example of cutting off your nose to spite your face. Biden will not get the blame, in the majority of voters' eyes.
 
Tinkerpeach said:
Had the democrats agreed to the republicans spending cuts in 2020 we wouldn’t have to be raising the debt ceiling
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