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Trump announces support for two-year bipartisan budget deal that boosts spending, suspends debt limit


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34 minutes ago, mclumber1 said:

Party of fiscal responsibility 

 

The next time they have to negotiate the debt limit it'll be July 2021. It's pretty obvious that they're betting on wasting a significant chunk of a new Democratic president's first term on brinksmanship over it.

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12 minutes ago, thewhyteboar said:

 

OLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLO

OLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLO

OLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLO

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OLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLO

 

They should all be shot for stupidity.

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1 hour ago, Jason said:

 

The next time they have to negotiate the debt limit it'll be July 2021. It's pretty obvious that they're betting on wasting a significant chunk of a new Democratic president's first term on brinksmanship over it.

"Cut social security, Medicare, Medicaid, no carbon taxes/GND, and no other new programs or we make the country default on the debt"

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2 minutes ago, SFLUFAN said:

OLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLO

OLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLO

OLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLO

OLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLO

OLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLO

 

They should all be shot for stupidity.

 

:guillotine::guillotine::guillotine:

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Is there seriously any reason to look forward to 2020 and beyond?  Like honestly.  I can't think of one good thing that's going to happen, no matter who gets elected.  Even if the Dems win the White House and the Senate, they'll STILL find a way to completely fuck it up.  Then in 2024 we'll get Trump 2.0, and the whole cycle will start again.

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Could be a bad move politically for the Dems, but economically it’s probably the right call—a fiscal policy that’s a touch too expansionary right now might be better than one that implements too much austerity, since the economy’s being burdened by the trade war, and the labor market still has some catching up to do after the post-08 depression, especially if you factor in the rate of labor market participation and underemployment.  Plus inflation is still quiescent, which suggests there’s still room to run.

 

It just sucks that the Republicans are being such massive hypocrites about this and won’t get called on it or punished electorally for it.  No one can credibly deny now that their complaints about overspending and the need for austerity in the Obama years were just a cynical ploy to slow down growth so they could weaken his election chances.  All the conservative economists calling for loose money now that were  calling for tight money from 2008-2016 are guilty of the same.

 

I’d call that quasi-treasonous—knowingly inflicting harm on the economic well-being of the public for narrow, private political gain. But they’ll get a pass from 40-50% of the nation because partisanship makes people stupid. (It’s also a sign of a political system that’s completely breaking down—the whole devil’s bargain of US democracy is that despite partisan bickering, the political process still—imperfectly—yields mutual benefits to the public; now it just seems to be yielding mutual sabotage to them)

 

As a side note, We need to abolish the debt ceiling as soon as we get a chance.

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13 hours ago, EternallDarkness said:

 

none of idiots an either side of the aisle have a shred of fiscal responsibility 

 

Hilarious, the BOTH SIDES argument again? Clinton ended his presidency with a surplus that Bush turned into a $1.2 trillion deficit which Obama then reduced to something like $500-600 billion which Trump has now ballooned to $1 trillion (as I understand things, I'm simplifying things here).

 

But sure, both sides. 

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3 hours ago, Greatoneshere said:

 

Hilarious, the BOTH SIDES argument again? Clinton ended his presidency with a surplus that Bush turned into a $1.2 trillion deficit which Obama then reduced to something like $500-600 billion which Trump has now ballooned to $1 trillion (as I understand things, I'm simplifying things here).

 

But sure, both sides. 

 

Dude, none of them have done a damn thing about paying down the debt other than pay it the occasional lip service. And I definitely doin't expect to see Trump do anything about it as his history shows he loves deficit spending. Unfortunately the crazy accounting shit you can do with a company really can't be done with a country. 

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The debt doesn't need to be paid down, but the rate of increase of debt should be curtailed during relatively good times like right now. Basically right now we want the deficit to be less than the inflation rate (since it's less than the rate of GDP growth) so that in real terms the debt of the country decreases. So with a GDP of 19.39 trillion, and inflation of about 1.6%, a deficit of about 300 billion isn't bad.

 

This is a very simplified model but it gives a decent guide to what is and isn't good for the debt during "good" times like these.

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23 minutes ago, EternallDarkness said:

 

Dude, none of them have done a damn thing about paying down the debt other than pay it the occasional lip service. And I definitely doin't expect to see Trump do anything about it as his history shows he loves deficit spending. Unfortunately the crazy accounting shit you can do with a company really can't be done with a country. 

 

I'm pretty sure Clinton creating a surplus and Obama bringing down Bush's trillion in debt is Democratic presidents showing some fiscal responsibility, no?

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46 minutes ago, Greatoneshere said:

 

I'm pretty sure Clinton creating a surplus and Obama bringing down Bush's trillion in debt is Democratic presidents showing some fiscal responsibility, no?

 

You do know Clinton's 'surplus' didn't do jack to lower the national debt, right? It still went up every year. Both sides love to talk about doing something about the debt but neither side does anything but add to it. 

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3 minutes ago, EternallDarkness said:

 

You do know Clinton's 'surplus' didn't do jack to lower the national debt, right? It still went up every year. Both sides love to talk about doing something about the debt but neither side does anything but add to it. 

 

You said neither side had a "shred" of fiscal responsibility. My post indicates the Democrats do indeed have a shred of it, that's all I'm saying. What you're saying has nothing to do with that point in terms of at least a "shred". 

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Just now, Greatoneshere said:

 

You said neither side had a "shred" of fiscal responsibility. My post indicates the Democrats do indeed have a shred of it, that's all I'm saying. What you're saying has nothing to do with that point.

 

The balanced budget during his presidency was done by the republicans. So I'm not sure Clinton has any right to claim that little tidbit of fiscal responsibility as his own.

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3 minutes ago, EternallDarkness said:

 

The balanced budget during his presidency was done by the republicans. So I'm not sure Clinton has any right to claim that little tidbit of fiscal responsibility as his own.

 

Umm . . . no. @Signifyin(g)Monkey and @SFLUFAN help us out, you are our only hope. They can explain everything better than I can, and know better than me on this issue anyway. 

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