Remember earlier in this thread where I said you wont find a single Republican on this board who complained about deficits and debt ceilings during the Trump era? Tom was no exception to that statement.
Remember earlier in this thread where I said you wont find a single Republican on this board who complained about deficits and debt ceilings during the Trump era? Tom was no exception to that statement.
Originally posted by: tom
kevin is either stupid or a liar or both.
Federal budget is going to feature "record" numbers, because the population, tax revenues, and other factors are going to be larger than they ever were before!
In 2019 Federal spending was $4.4T. It is now $6.4t; an increase of almost 50%. population has gone from 319m to 321.5 a 1% increase. Spending is far outpacing population growth.
It's financed by government obligations that carry interest rates of 1 to 1.5 percent!
Federal bond rates are over 4% and climbing.
One would think the cpa/economist/tax expert (kevin) would know that
Whatever the precise number may be, it's still far lower than inflation rates, which means the government is MAKING MONEY by borrowing.
A concept far beyond stupid Tommie-poo's grasp, I know.
And my point about "record" spending and budgets still stands. EVERY new budget, barring some kind of economic calamity, is going to be a "record." And conservitards will bleat about it, of course, unless it's a RepubliQ congress/administration.
There is no excuse for increaseing spending by almost 50%
You completely missed on your interest statement, rationalizing it with a no big deal line. However interest rates are continuing to increase. Each 1 point increase in interest rates increases the deficit by $150b. With the present 3 point increase the deficit will increase by $450b & the rates will go higher.
What's wrong with a 2% decline in spending?
Under Kevin economics somebody with no money in the bank borrows $100 @ 4%, he is making money & his net worth goes up, even though he has to borrow 104 to pay it back.
Originally posted by: tom
There is no excuse for increaseing spending by almost 50%
You completely missed on your interest statement, rationalizing it with a no big deal line. However interest rates are continuing to increase. Each 1 point increase in interest rates increases the deficit by $150b. With the present 3 point increase the deficit will increase by $450b & the rates will go higher.
What's wrong with a 2% decline in spending?
Under Kevin economics somebody with no money in the bank borrows $100 @ 4%, he is making money & his net worth goes up, even though he has to borrow 104 to pay it back.
It's typical ...right out of the US Congressional MaxFuzzy Math and Accounting Methods Compendium, a reference source used by our leaders in DC for spending / budgeting decisions. The originally borrowed principal amounts are always lost or disregarded as the projected calculations are made, way before any interest accruals take place. Eventually they manage to screw those numbers up, too...using so called inflation adjustments as a weapon to justify borrowing / spending more. The recourse comes in the forms of more and deeper spending and/or tax hikes. It's the American way...including some DC Republicans. A truly balanced budget may never happen again, unfortunately..budget shortfalls are fun / common and they just continue to justify them.
But..Go Cowboys...
Originally posted by: PackerBackerAZ
Your link took me to an article that shows the Trump admistration added 7.8 trillion to the debt, increasing it to 28 trillion. That's still ridiculously far from a balanced budget, which niether side seems to want. The debt is now up to 31 trillion. Why can't these congressional clowns, on both sides, get the US into a balanced budget?
The GQP don't want to govern. All they want to do is ''investigate''.
Notice how the economy isn't a priority anymore?
Originally posted by: Kevin Lewis
Because a balanced budget is a nice-sounding concept and satisfies simple minds, it's a goal of many, but it isn't all that necessary. If we have to borrow to cover a budget shortfall, we do so with T-bills paying about 1% APR. And we'll be repaying that debt with future money, with a 7% inflation rate!
When interest costs are much less than inflation, it's stupid NOT to borrow. That goes for individuals and companies as well as governments. But the US government has the best credit rating in the world and pays extremely low interest rates on its borrowing. That's almost always been the case, but even more so now.
That's why the renewed RepubliQ threats to shut down the government are so reckless and stupid. If we default on our debts, even briefly, our credit rating declines, and we lose trillions of dollars.
Now, in response, you can rant about them evil liberals or tell me I've never been to Las Vegas or something else from your cache of tommyrot, but you should really read what I just said carefully before you get all puffed up and outraged over a fiscal policy that benefits us.
Tom has already proven your 1% T-bill interest rate to be an uninformed and totally wrong assessment by 400%. Of course, posting misinformation is something you do regularly when you really don't know what you're talking about. It's something that occurs more often than not with your postings. You just post to be heard.
I believe that it's stupid to pay any interest at all. I don't carry any debt that I have to pay interest on. I do carry as much debt as I can that doesn't have to be repaid with interest. Currently credit cards and a 0% auto loan. I use their money, for as long as I can, for free. If the government ran a surplus they could do that too.
It's stupid to continue to borrow in order to pay the deficit spending by our government. The best fiscal policy would be to have a balanced budget, by law, and not run a deficit that necessitates going further into debt. Run a surplus, which hasn't been done since 2001, and pay down the debt with it. Don't you think that would be a great solution to our national debt debacle. Unfortunately, the congressional clowns just can't keep away from their deficit pork spending binge. Congress means both sides of the aisle not only republicans.
I'll tell you that you haven't been to Las Vegas in October, November or December of 2022 nor January 2023. Why do you open up that can of worms and set yourself up for that?
Originally posted by: tom
There is no excuse for increaseing spending by almost 50%
You completely missed on your interest statement, rationalizing it with a no big deal line. However interest rates are continuing to increase. Each 1 point increase in interest rates increases the deficit by $150b. With the present 3 point increase the deficit will increase by $450b & the rates will go higher.
What's wrong with a 2% decline in spending?
Under Kevin economics somebody with no money in the bank borrows $100 @ 4%, he is making money & his net worth goes up, even though he has to borrow 104 to pay it back.
0-2% Federal interest rates is a symptom of a sick economy that needs to be propped up by the FED. The historical average is 4.6 percent. People who claim to be free market capitalists and who also advocate free loan money from the FED are full of shit and dont believe their own bullshit. The fact that we can normalize interest rates is a postive development which gives the FED dry powder to respond to future recessions. People who prefer permanent 0% interest rates are uninformed or just partisan hacks. Pick the adjective you think best describes Tom.
And if you can find the thread that addresses cutting spending authored by any of our resident conservatives during the Trump era - please link to it. And please - nobody hold your breath.
Originally posted by: tom
There is no excuse for increaseing spending by almost 50%
You completely missed on your interest statement, rationalizing it with a no big deal line. However interest rates are continuing to increase. Each 1 point increase in interest rates increases the deficit by $150b. With the present 3 point increase the deficit will increase by $450b & the rates will go higher.
What's wrong with a 2% decline in spending?
Under Kevin economics somebody with no money in the bank borrows $100 @ 4%, he is making money & his net worth goes up, even though he has to borrow 104 to pay it back.
Why does your hypothetical person have to borrow to repay the loan? He could have used the borrowed money to EARN the repayment. And if inflation is, say, 7 percent, he only has to repay, effectively, $93.
I knew that was beyond you.
A 2% decline in spending is "wrong" if the needs that produce the spending haven't decreased by 2%
DUHHH, stupid Tommie-poo.
I don't know where you got your fantasy interest rate vs. deficit figure, but maybe you might consider that if interest rates are rising, it's better to borrow now rather than later. Doubly true in the case of high inflation.
DUHHH, stupid Tommie-poo.
Increasing spending doesn't require an "excuse." If the government decides to fulfill needs, particularly those that have existed and been neglected for decades, that's fully justified. It reflects the will of the people. Maybe not stupid Tommie-poo, but he's only 1/2 a person (thank God).
Conservitards LUVVVV to bleat that government spending is inherently bad (unless it's used to make the lives of non-white people miserable). I'd just like to point out that countries where the government doesn't spend much money are usually hellholes--and those where government spending is high have the best quality of life AND the strongest economies.
DUHHH, stupid Tommie-poo and your conservitard pals.
Originally posted by: PackerBackerAZ
Tom has already proven your 1% T-bill interest rate to be an uninformed and totally wrong assessment by 400%. Of course, posting misinformation is something you do regularly when you really don't know what you're talking about. It's something that occurs more often than not with your postings. You just post to be heard.
I believe that it's stupid to pay any interest at all. I don't carry any debt that I have to pay interest on. I do carry as much debt as I can that doesn't have to be repaid with interest. Currently credit cards and a 0% auto loan. I use their money, for as long as I can, for free. If the government ran a surplus they could do that too.
It's stupid to continue to borrow in order to pay the deficit spending by our government. The best fiscal policy would be to have a balanced budget, by law, and not run a deficit that necessitates going further into debt. Run a surplus, which hasn't been done since 2001, and pay down the debt with it. Don't you think that would be a great solution to our national debt debacle. Unfortunately, the congressional clowns just can't keep away from their deficit pork spending binge. Congress means both sides of the aisle not only republicans.
I'll tell you that you haven't been to Las Vegas in October, November or December of 2022 nor January 2023. Why do you open up that can of worms and set yourself up for that?
I don't care what you think, idiot.
Name the Republican president that implemented a 2% decline in spending in your lifetime.
