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Well, our Poor

Republicans tried to pass a balanced budget amendment 30 years ago.

Guess who voted against it.

Biden (D-DE), Nay

https://www.senate.gov/legislative/LIS/roll_call_votes/vote1041/vote_104_1_00088.htm
You are no dummy. You know as well as I do that when it hits the fan, whoever is in charge will get the blame. That's the way it works, fairly or unfairly. As Warren Buffett has said:
"Only when the tide goes out do you discover who has been swimming naked."

Some will be at the beach. Most of those responsible will not be at the beach. They will either be politically retired or dead.

By the way, that amendment was offered when a Democrat was President. I'd love to see that amendment offered this coming week. I suspect it won't be.
 
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Federal revenue far outpaced inflation. Even Bidenflation. You know that. Stop being dishonest. Revenue has NOT been cut. FACT.

Now you don't understand how increased government spending results in increased tax revenue...

This really just sums up the problem. You don't really understand the big picture so you fall for misleading arguments.

Sounds like you want a balanced budget amendment? Correct?

And Biden rolled back those tax cuts? Correct?

I would love a balanced budget. I would love to pay for what we spend.

What a terrible "gotcha"
 
Now you don't understand how increased government spending results in increased tax revenue...

This really just sums up the problem. You don't really understand the big picture so you fall for misleading arguments.



I would love a balanced budget. I would love to pay for what we spend.

What a terrible "gotcha"

Then you aren't a Democrat, because they have consistently voted against a balanced budget amendment. And if you look at the states that are best at balancing their budgets, the top 25 are overwhelmingly red and the bottom 25 overwhelmingly blue.

And if "increased government spending results in increased tax revenue", how did we end up in $36 trillion in debt? Because the Federal government sure as hell has spent a ton of money. lol
 
Then you aren't a Democrat, because they have consistently voted against a balanced budget amendment. And if you look at the states that are best at balancing their budgets, the top 25 are overwhelmingly red and the bottom 25 overwhelmingly the worst.

And if "increased government spending results in increased tax revenue", how did we end up in $36 trillion in debt? Because the Federal government sure as hell has spent a ton of money. lol

This post highlights why you're a low IQ voter.

Just because you call something a balanced budget amendment bill doesn't mean it's good law. Democrats would gladly support a balanced budget amendment that requires increases in taxes to balance the budget.

Would you support raising taxes to balance the budget?
 
This post highlights why you're a low IQ voter.

Just because you call something a balanced budget amendment bill doesn't mean it's good law. Democrats would gladly support a balanced budget amendment that requires increases in taxes to balance the budget.

Would you support raising taxes to balance the budget?

Nope. I would support cutting spending. I don't get to just demand more money because I can't control my spending. Neither should our government.

Nothing "low IQ" about that. Just common sense. Many states can do it. Why can't our Federal government?

Typical liberal mentality. I'll spend what I want and demand someone else pay for it. No need to consider how much money I actually have.
 
Nope. I would support cutting spending. I don't get to just demand more money because I can't control my spending. Neither should our government.

Nothing "low IQ" about that. Just common sense. Many states can do it. Why can't our Federal government?

Typical liberal mentality. I'll spend what I want and demand someone else pay for it. No need to consider how much money I actually have.

So low IQ you couldn't even make a logical argument when the correct argument was given to you.

States balance their budgets by using federal dollars to supplement their budgets i.e. they're welfare recipients.
 
So you're against spending more than you take in, but you want to cut your revenue so you have to spend more than you take in?

You honestly don't see how that's illogical?
You might want to familiarize yourself with the Laffer Curve, which is an accepted economic principle that has been proven to be valid via peer-reviewed research publications.

It basically states that taxation is effective in raising revenue up to a specific point, at which additional taxation and spending results in Diminishing Returns and an economic downturn.

Any continued spending without immediate tax cuts will result in a severe recession followed by a depression. Cutting spending and cutting taxes is the only prescription for recovery.
 
You might want to familiarize yourself with the Laffer Curve, which is an accepted economic principle that has been proven to be valid via peer-reviewed research publications.

Laffer curve is an economic theory not a principle. When you start off making such a huge mistake, it takes away any credibility for your subsequent paragraphs.

The Laffer Curve is just supply side economics, which is precisely got us in this deficit.

The only way to reduce the need for government spending is to make the poorest in the country self-sustaining. You can't do that by concentrating wealth within the richest segment of the population who are already self-sustaining. What you're describing is voo doo economics.
 
This is intended to be an economic statement, NOT a political statement. The Federal Reserve has cut interest rates. However, even though the FED has done that, mortgage rates and Treasury yields have continued to go up. If Congress and Trump don't take action to cut our debt, we are going to have a debt crisis, probably before the end of next year. It's not going to end well, my friends. Though I'm not an economist, I did minor in economics at USC. It's painfully obvious to me that the FED has lost control of the market. I'm telling you that we ALL better hope that Trump and Congress turnaround our debt situation. If not, POLITICAL statements will then be said loud and clear.
You mean like biden made during peak inflation and still spending like a shopaholic with brand new lines of unlimited credit? In fact still setting fire to hundreds of billions up to his last day in office. Its all political. You are correct about the fed and he lost control because he is political. Or maybe just stupid. No way rates should’ve been cut yet. Neither side cares about our country. Just the power it provides. All career politicians should be fully investigated. If so 98% would be put to death or convicted to prison. They’re all corrupt. No one goes to Washington for life for any other reason.
 
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Then you aren't a Democrat, because they have consistently voted against a balanced budget amendment. And if you look at the states that are best at balancing their budgets, the top 25 are overwhelmingly red and the bottom 25 overwhelmingly blue.

This is pretty silly.

States have all sorts of gimmicks they use to pass "balanced" budgets, including South Carolina. (South Carolina's budget is deeply unbalanced absent loads of federal money we beg for each year).

45 states required the governor to submit a balanced budget to the legislature;

44 states required the legislature to pass a balanced budget

but at least 15 of those states allow the governor to veto items, unbalancing the budget - and then still allow for the governor to sign the budget which is now unbalanced but they tout they "passed a balanced budget" therefore an unbalanced budget is actually put in place.

For example, states like Arkansas, Louisiana, Mississippi, Kansas, Iowa and some others technically require a balanced budget- but they also have "carry over" provisions that allow them to run budget deficits from year to year. So, in reality, their budgets aren't balanced at all except they claim it. Math wise- they aren't.

Almost all "balanced budget states" have provisions that allow them to adjust state payroll obligations into the subsequent year- which leaves their budgets out of balance- while claiming they have a balanced budget.

States with strict balanced budget requirements are much more prone to high volatility in times of ecomomic contraction. There are numerous studies that have shown that during the Great Recession, states with strict requirements were slower to recover economically than states that didn't

This is the problem with some of these things- they are complicated and most people that aren't deeply involved in this - or have never worked in this line of work really don't know what they are actually reading when they tout this stuff.
 
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Laffer curve is an economic theory not a principle. When you start off making such a huge mistake, it takes away any credibility for your subsequent paragraphs.

The Laffer Curve is just supply side economics, which is precisely got us in this deficit.

The only way to reduce the need for government spending is to make the poorest in the country self-sustaining. You can't do that by concentrating wealth within the richest segment of the population who are already self-sustaining. What you're describing is voo doo economics.
It is included in college economic textbooks.
 
You might want to familiarize yourself with the Laffer Curve, which is an accepted economic principle that has been proven to be valid via peer-reviewed research publications.

It basically states that taxation is effective in raising revenue up to a specific point, at which additional taxation and spending results in Diminishing Returns and an economic downturn.

Any continued spending without immediate tax cuts will result in a severe recession followed by a depression. Cutting spending and cutting taxes is the only prescription for recovery.

The Laffer Curve is more of a theory than a principle. The issue with the Laffer theory is that there is no precise way to know where one is on the curve- (his curve) at any one time (Art Laffer has admitted this himself)

Plus, the theory promotes that idea that, if you are at the right place economically (always hard to determine) and you cut taxes, you can actually increase revenue.

The conundrum with this is that Conservatives increasing the amount of money the federal government receives from Americans is the polar opposite of what they say they want to do- which is reduce government. You don't need to increase revenue if you want to reduce government.
 
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It is included in college economic textbooks.

It's actually often discussed in high school economics too.

it's one part of supply side theory- of course it's mentioned in various texts and courses.

As anything else, it has defenders and those that think it's riddled with faults.
 
It is included in college economic textbooks.

You understand that no theory, no amount of evidence, up to and including cold hard facts, will deter those sheep blinded by political ideology.

And that's giving them credit for just being sheep, when we all know they're just stringing the debates along for enjoyment, not serious about what they themselves even regurgitate.
 
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Laffer curve is an economic theory not a principle. When you start off making such a huge mistake, it takes away any credibility for your subsequent paragraphs.

The Laffer Curve is just supply side economics, which is precisely got us in this deficit.

The only way to reduce the need for government spending is to make the poorest in the country self-sustaining. You can't do that by concentrating wealth within the richest segment of the population who are already self-sustaining. What you're describing is voo doo economics.

For the Love of God....This is what happens when Boneheads interact with AI and try to spin it.
 
You mean like biden made during peak inflation and still spending like a shopaholic with brand new lines of unlimited credit? In fact still setting fire to hundreds of billions up to his last day in office. Its all political. You are correct about the fed and he lost control because he is political. Or maybe just stupid. No way rates should’ve been cut yet. Neither side cares about our country. Just the power it provides. All career politicians should be fully investigated. If so 98% would be put to death or convicted to prison. They’re all corrupt. No one goes to Washington for life for any other reason.
Oh, I have blamed BOTH sides for as long as I have written about the debt. I don't know if Lurker 1,2,3 reads this. If he does, he will confirm that I have blamed BOTH sides for a long, long time. The problem for Trump and Congressional Republicans is that if the debt crisis, I expect, hits by the end of next year, Republicans will be in charge of both the White House and Congress. Voters always blame the party in power at the time. That finger-pointing never, never deviates, EVER!!!!!
 
It's honestly wild how Russia and China are interfering with US politics and how many people are celebrating it.

Biden says hi. As you probably know, Trump had to outfit his vehicles to prevent drones from tracking and move the inauguration indoors because of the threat.

Chinese Balloons and Chinese Drones in our skies and the people you vote for are cool with that.

How does that feel from your Foxhole?
 
Oh, I have blamed BOTH sides for as long as I have written about the debt. I don't know if Lurker 1,2,3 reads this. If he does, he will confirm that I have blamed BOTH sides for a long, long time. The problem for Trump and Congressional Republicans is that if the debt crisis, I expect, hits by the end of next year, Republicans will be in charge of both the White House and Congress. Voters always blame the party in power at the time. That finger-pointing never, never deviates, EVER!!!!!
Looking at the transformation of our government from lifetime politicians to successful businessmen I believe will have a profound effect going forward. I believe most people have figured out the two party scam inflicted upon us forever. Hopefully we’re seeing the death of all politicians and birth of genius capitalists taking over our country. Bring on the External revenue Service!!
 
Oh, I have blamed BOTH sides for as long as I have written about the debt. I don't know if Lurker 1,2,3 reads this. If he does, he will confirm that I have blamed BOTH sides for a long, long time. The problem for Trump and Congressional Republicans is that if the debt crisis, I expect, hits by the end of next year, Republicans will be in charge of both the White House and Congress. Voters always blame the party in power at the time. That finger-pointing never, never deviates, EVER!!!!!

Republicans have been in office a total of 4 years over the 16 years the major debt escalation took place.

Trump printed money but he re-invested it in America.

Obama and Biden sent it overseas and to climate change special interest crap while skimming off the top in the process.

Big distinction.

Over 40% of tax revenue now goes directly to servicing the debt primarily because of progressive globalist corruption.
 
Looking at the transformation of our government from lifetime politicians to successful businessmen I believe will have a profound effect going forward. I believe most people have figured out the two party scam inflicted upon us forever. Hopefully we’re seeing the death of all politicians and birth of genius capitalists taking over our country. Bring on the External revenue Service!!
I hope you are right.
 
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Republicans have been in office a total of 4 years over the 16 years the major debt escalation took place.

Trump printed money but he re-invested it in America.

Obama and Biden sent it overseas and to climate change special interest crap while skimming off the top in the process.

Big distinction.

Over 40% of tax revenue now goes directly to servicing the debt primarily because of progressive globalist corruption.
When Clinton left office, the debt was at $5.81 Trillion
When W. Bush left office, the debt was at $11.91 Trillion
When Obama left office, the debt was at $20.24 Trillion
When Trump left office, the debt was at $28.04 Trillion
When Biden leaves office, the debt will be $36 Trillion.

I'm sure they all will justify where it went. It does not matter. They all have blood on their hands.
 
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When Clinton left office, the debt was at $5.81 Trillion
When W. Bush left office, the debt was at $11.91 Trillion
When Obama left office, the debt was at $20.24 Trillion
When Trump left office, the debt was at $28.04 Trillion
When Biden leaves office, the debt will be $36 Trillion.

I'm sure they all will justify where it went. It does not matter. They all have blood on their hands.

It's called The Establishment. The only individual not in on the fix is Trump.

You're not looking at the full-picture.

You do understand the implications of carrying debt and printing money vs. garden-variety overspending right?
 
When Clinton left office, the debt was at $5.81 Trillion
When W. Bush left office, the debt was at $11.91 Trillion
When Obama left office, the debt was at $20.24 Trillion
When Trump left office, the debt was at $28.04 Trillion
When Biden leaves office, the debt will be $36 Trillion.

I'm sure they all will justify where it went. It does not matter. They all have blood on their hands.

This guy said it best

no amount of evidence, up to and including cold hard facts, will deter those sheep blinded by political ideology.
 
It's called The Establishment. The only individual not in on the fix is Trump.

You're not looking at the full-picture.

You do understand the implications of carrying debt and printing money vs. garden-variety overspending right?
Debt is debt. When we have a debt crisis, the bond market will not distinguish.
 
All the bond market is going to care about is the bottom line. When the national debt is revealed, they don't distinguish.

You added the bond market analogy which is silly based on the conversation at hand.

We were talking about responsibility and how that actually breaks down.
 
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