Mnuchin: raise the debt limit. Those tax cuts are killing us

someoneyouknow

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The fake Secretary of Treasury, Steven Mnuchin, who hails from Goldman Sachs, is urging Congress to raise the debt limit. Why? Because come September, the U.S. runs out of money.

I know what you're thinking: how can we be running out of money when the largest wealth transfer in this country's history was supposed to pay for itself? When corporations were given free reign to splurge on stock buybacks rather than increase employee salaries, why aren't we swimming in money? Why isn't trickle down economics working???

Well, it's like this. Trickle down doesn't work. Never has, never will. Not only that, when you have a Republican administration you can be assured of rampant spending combined with reduced revenue.

Since the con artist assumed power, the debt hasn't stopped soaring, unlike when Obama was in office it was on a declining gradient until Republicans took control of Congress.

But let's not fret. After all, the King of Debt will solve everything. His gut tells him so. He's even promised to get rid of the debt in eight years.

https://www.marketwatch.com/story/mnuchin-urges-congress-to-raise-debt-limit-as-cash-seen-running-out-in-early-september-2019-07-12?mod=mw_theo_homepage
 
UPDATE

Mnuchin's exact words to Congress in his plea to fix the disaster he and the con artist have created:

"Based on updated projections, there is a scenario in which we run of out cash in early September, before Congress reconvenes,"​

In his letter, Mnuchin called on Congress to restore borrowing power by increasing the debt ceiling before Congress departs for its regular August recess.

Remember folks, deficits don't matter. Dick Cheney, the con artist, and many other Republicans have told us so. Until a Democrat is in office then it's a disaster.

https://www.cnn.com/2019/07/12/politics/mnuchin-congress-letter-debt-crisis/index.html
 
Remember folks, deficits don't matter. Dick Cheney, the con artist, and many other Republicans have told us so. Until a Democrat is in office then it's a disaster.

Coincidentally that's when every bit of your concern over the issue vanishes.
 
Coincidentally that's when every bit of your concern over the issue vanishes.

That's because the last two Democratic presidents have reduced the deficit substantially (even eliminated it at one point). Republicans yell louder on the issue, but they always make it worse.
 
That's only true for Ol' Billy C.

The last Democrat POTUS had and still has the largest deficit spending .

You might want to go back to that article and read it a little more closely.

*****

"President Barack Obama had the largest deficits. By the end of his final budget, FY 2017, his deficits totaled $6.785 trillion. Obama took office during the Great Recession. He immediately needed to spend billions to stop it."

"President Donald Trump deserves special mention. According to his budget projections, he would add $6.2 trillion in deficits during his first term. That would put him at #2 on this list."

*****

So Obama takes over in 2009 with the economy literally circling the bowl and not only manages to pull us out of that, but also succeeds in reducing the $1.2 trillion deficit he inherited down to less than $670 billion.

In comparison, 45 takes over in 2017 with a stable, constantly expanding economy, proceeds to explode the deficit along with totally unnecessary tax cuts for the wealthy, and is on track to be at 91% of Obama's total deficits over eight years in only four.

You're going to need to explain how that kind of math makes sense anywhere but in GOP "Trickle Down" land. :rolleyes:

.
 
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These discussions never cease to be a source of comedy.

1. Bill Clinton never proposed a Balanced Budget. Not one. In fact, he shut the government down, in order to keep spending. It wasn't until New Gingrich and the GOP congress restricted spending that the deficit actually disappeared. Of course, Clinton claimed credit, and that's fine. It was a good deal for the U.S.

It was Clinton's first budget that took the crucial first steps towards a balanced budget, and every last Republican in Congress voted against it. Literally every single one.
And yes, the 1995 government shutdown was over spending. Spending on education and public health. Seems to me those are worth spending money on, but you do you.

"But but but but'' the recession. Here's a tip...economic conditions are always changing. Deal with it.

That's exactly what Obama did, and he got us out of the worst recession since the thirties. Let's see you do that without spending. (By the way, businesses finance with debt all the time. It's a perfectly legitimate strategy, with pros and cons like any other.)

3. The economy is freakin' awesome, and the consumer spending (not government) makes up something like 60% of the economy. So lowering taxes, allows Americans to keep more of their own money, and when they spend it...the economy gets better. There's nothing 'trickle down' about that approach....and it works. The left is trying to find ANYTHING to say it's not good, but Americans know different. The economy is rocking, and voters know it.

It's certainly rocking for the rich. But Trump's base doesn't really care about how well the economy is doing. They're more interested in the abuse he's ladling out on the people they hate.

Not to mention that his disapproval ratings have stayed consistently over 50% throughout his term. That doesn't happen when everyone is happy about the economy.


4. Spending. Spending. Spending. Why don't you democrats/progressives/democractic socialists/socialists, etc...explain your fucking spending! Every single Democratic candidate for president has proposed TRILLIONS in new spending. TRILLIONS. There is no way to increase taxes to pay for their spending plans.

If you mean it's politically unfeasible, that may be true. But - just for starters - Elizabeth Warren's 2% wealth tax alone is estimated to raise $2.75 trillion over the next decade. Would that pay off the national debt immediately? No. But the right doesn't really care about that; they just want to use it as a political bludgeon. (Think about it: if you asked Republicans who their three favourite presidents are, 99% of them would put Reagan on the list. Look what he did to the national debt!)



What is your side going to do about the debt? They're going to let it EXPLODE! Why don't you explain the match behind that???

So please save the hyperbole and hyperventilating over Trump. It's stale and transparently hypocritical.[/QUOTE]
 
2. Democrats can always find a way to justify spending money. The Department of Education is a disgrace. What have SAT scores done since it was created? And it was created by Carter as a way to 'buy off' the teachers unions.

I knew Carter was old, but he is even older than I thought. :rolleyes: The SAT was first administered in 1926. It started off being used by Harvard and spread to other Ivy League schools. It was widespread by 1960. It had nothing to do with unions.

https://www.pbs.org/wgbh/pages/frontline/shows/sats/where/timeline.html
 
YDB95

Thank you for agreeing with me on each point.

1. Clinton only agreed to limit spending...after...Republicans won Congress. That was solely responsible for the deficits disappearing. You're welcome.

Nope. As you yourself said, he did NOT agree to cut spending in the same places they wanted to. That was the official cause of the shutdown. (I say "official" because Newt Gingrich also had a personal grudge against Clinton over the way he was treated on the plane home from Yitsak Rabin's funeral, and that reportedly had a lot to do with why he wouldn't negotiate.) Cutting spending is only half of the equation when it comes to reducing deficits. You also have to raise taxes - there's simply no way around that, no matter how much we all hate paying them. Clinton did that, and he paid dearly for it politically - but it worked. At least until Dumbya came along and said cutting taxes on the rich would somehow bring prosperity for all, and what did happen? Deficits came back, even worse than before.


2. Democrats can always find a way to justify spending money.

Of course we can. Safe streets, clean air and water, a strong infrastructure - the miracle of the market does not create those, despite what Ayn Rand told you.

3. Obama gave us the worst recovery....ever! No one disputes that, not even the NYT.

Not even the NYT? Yeah, not even Fox News either. I'm not at all surprised you're one of those who think the mainstream media is Uber-liberal, but, well, it isn't. Mind you, I do think Obama could have spurred a greater recovery if he hadn't squandered his first two years in office trying to reach bipartisan consensus when 1) he really didn't need to, since the Dems were running the whole show, and 2) anyone could see the Republicans were never going to meet him halfway on anything. But still, he pulled us out of the worst economy since the Depression.

4. Unbelievable. You praise Obama's economy (even though it was weak), and suddenly when Trump is elected, and the economy improves...you say it's "Not Working".

For whom did it improve? The very rich, I'll grant you that, but anyone else?

And when it comes to 'hate'...no one holds a candle to The Left...they live and breathe hate.

Yes, we are remarkably intolerant of intolerance, aren't we?

5. Yes. Spending is...how did you put it...unfeasible. LOL. No shit! There is NO tax. No combination of Taxes that will pay for the programs the Democrats are proposing.
Not according to the sources you read, I certainly believe that.

So. Stop. Bitching. About. Debt. Unless you're willing to cut spending. And Democrats will never stop spending, because that's how they buy votes.

Wow, you even share Dumpington's racism. Not at all surprised.

There is not a single Democrat persuading voters.
Not voters like you, that's true.
 
You might want to go back to that article and read it a little more closely.

*****

"President Barack Obama had the largest deficits. By the end of his final budget, FY 2017, his deficits totaled $6.785 trillion. Obama took office during the Great Recession. He immediately needed to spend billions to stop it."

"President Donald Trump deserves special mention. According to his budget projections, he would add $6.2 trillion in deficits during his first term. That would put him at #2 on this list."

*****

Why? It supports me.


So Obama takes over in 2009 with the economy literally circling the bowl and not only manages to pull us out of that, but also succeeds in reducing the $1.2 trillion deficit he inherited down to less than $670 billion.

In comparison, 45 takes over in 2017 with a stable, constantly expanding economy, proceeds to explode the deficit along with totally unnecessary tax cuts for the wealthy

^^ 100% irrelevant Trump induced rage.

Tax cuts that were good. The only problem is spending didn't get shwacked with it.

and is on track to be at 91% of Obama's total deficits over eight years in only four.

Yup.

You're going to need to explain how that kind of math makes sense anywhere but in GOP "Trickle Down" land. :rolleyes:

.

91% is less than 100%.

Until his deficit spending exceeds 100% of Obamas? Obama is the deficit king.

Really simple elementary math.
 
4. Racism....Seriously, go fuck yourself. There is not one single sentence, phrase, or word I've used that could even imply racism. That's a pathetic ad hominem accusation that your side always pulls out when you're fucking losing.

You know what? I believe you.
That is, I believe you really believe you didn't say anything racist. I believe you're so steeped in 50 years of Southern strategy bullshit that you honestly can't see the racism in what you said.

You're not disgusting, though. You're just pathetic.
 
I'm a huge lying racist.

You should actually bother to read your sources.

Ronald Reagan: President Reagan increased the debt by 186 percent. Reaganomics added $1.86 trillion. Reagan's brand of supply-side economics didn't grow the economy enough to offset the lost revenue from its tax cuts. That was partly because Reagan increased the defense budget by 35 percent.

George W. Bush: President Bush added $5.849 trillion, the second-greatest dollar amount. It was the fourth-largest percentage increase. Bush increased the debt by 101 percent from where it started at $5.8 trillion on September 30, 2001. That's the end of FY 2001, which was President Clinton's last budget.

Bush launched the War on Terror in response to the 9/11 attacks. The War on Terror included two wars. The War in Afghanistan cost $1.1 trillion and the Iraq War cost $1 trillion. They increased military spending to record levels of $600 billion to $800 billion a year.

President Bush also responded to the 2001 recession by passing the Economic Growth and Tax Relief Reconciliation Act and the Jobs and Growth Tax Relief Reconciliation Act. He approved a $700 billion bailout package for banks to combat the 2008 global financial crisis. Both Presidents Bush and Obama had to contend with higher mandatory spending for Social Security and Medicare.

Sorry bot but your racism is showing.
 
91% is less than 100%.

Until his deficit spending exceeds 100% of Obamas? Obama is the deficit king.

Really simple elementary math.



"Really simple elementary math" is looking at two numbers and being able to figure out which one is the largest. (ie: If Donnie has 6 apples and Barry has 7 apples...who has the most apples?)

"Advanced elementary math" is when you learn things like multiplication and division and are able to do comparisons of those numbers. (ie: If Donnie picked 6 apples in 4 minutes and Barry picked 7 apples in 8 minutes...who is piling up more apples and doing it the fastest?)

Now change "apples" to "trillions" and "minutes" to "years" and apply the same names. Yeah, it's a simplistically silly grade school word problem, but it is an accurate example because on an annualized basis, 45 is living up to his self-anointed name of "King of Debt."

But hey, it's all irrelevant because that good ol' "trickle down" is gonna kick in any day now...right? :rolleyes:

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What did I say that was racist. C'mon...prove your statement. You've just slandered someone, so c'mon. Prove it. Prove your not a liar.

Glad to.

YDB95

And Democrats will never stop spending, because that's how they buy votes.

That is classic dogwhistle for the stereotype of blacks and Hispanics as lazy and entitled. Yes, I know you didn't literally say "[members of certain ethnic groups] vote Democrat [sic] because they don't want to work." But that is exactly how the Southern strategy works: you connect all but one of the dots and then whine "that's not what I said!" when someone else draws the logical conclusion of what you implied.
 
What did I say that was racist. C'mon...prove your statement. You've just slandered someone, so c'mon. Prove it. Prove your not a liar.

Because you are a racist everything you post is, therefore, racist. Good talk.

By the way bot/dump/dawn I noticed that whenever I absolutely own you you start posting under alts. If you're really that embarrassed by your own stupidity and racism perhaps you should stop being both of those things.
 
dan_c00000 writes: "Because you are a racist everything you post is, therefore, racist. Good talk."

Dan says: If you don't prefer socialism over capitalism, you are a racist!

Dan says: If you celebrate the Fourth of July in any way, you are a racist!

Dan says: If you HAVEN'T yet marched in a "Pride" Parade this year, you are a racist!

Dan says: If you don't support abortion & Planned Parenthood, you are a racist!

Dan says: If you dislike seeing hundreds of thousands of people illegally entering our nation, you are a racist!

Dan says: If you don't completely love Al Gore's insightful "An Inconvenient Truth" book & film, you are a racist!

Dan says: If you didn't watch every second of the women's World Cup on television, you are a racist!

Dan says: If you don't fly either the Mexican or gay/rainbow flag over your house, you are a racist!

Dan says: If you stand respectfully during the U.S. national anthem, you are a racist!
 
It is interesting how Rethuglican and Trump Chumps always chane teh subject when the discussion turns to how fucked we are due to Lumpy's driving the country into a massive recession through his ineptitude!

Good thing Liz has a plan for that. :D
 
You, Sir.

Are. A. Liar.

You don't own the English Language. You simply can't disagree with a legitimate political position, and call it a "Dog Whistle"...particularly when the majority of government spending is on Medicare, Medicaid, and Social Security, which are paid out regardless of skin color, race or gender. All government spending is done without regard to the color of a person's skin.

Again...You are a liar.

And your unwillingness to admit it...means you are also a coward.

Cheers.


As I said, I am perfectly willing to believe you can't even see your own bigotry. Sad, if not downright tragic. But not surprising.
 
Glad to.



That is classic dogwhistle for the stereotype of blacks and Hispanics as lazy and entitled.

No, it's not.

You're just crying "racist!!!" because you don't have anything else. ;)
 
No, it's not.

It absolutely is, and so is your response. Besides, what else do I need when the other side is using wedge issue after wedge issue to divide and conquer and make damn sure nothing constructive can ever get done?
 
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