The United States is $222 trillion in debt

Discussion in 'Political Opinions & Beliefs' started by ProgressivePower, Aug 30, 2019.

  1. Moonglow

    Moonglow Well-Known Member

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    Why not? I thought this was a Christian nation?
     
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  2. FatBack

    FatBack Well-Known Member

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    So...just print more huhh? Ever heard of inflation?
     
  3. squidward

    squidward Well-Known Member

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    Its Christian to force your costs on to someone else?
     
  4. Daggdag

    Daggdag Well-Known Member

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    The US Dollar only has value because it's currency used for international trade. Without that, the US dollar only has value in the US. and if we began printing more money that we actually have in our economy by a wide margin, the value of each dollar for plummet. We would't go completely broke exactly, but our money would be worth far less.
     
  5. squidward

    squidward Well-Known Member

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    Dont ruin his perpetual motion machine
     
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  6. vman12

    vman12 Well-Known Member Past Donor

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    Yet it still wasn't free.

    You probably didn't pay for your baby food either. Still wasn't free.
     
  7. pol meister

    pol meister Well-Known Member

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    What if the value of its currency goes broke?
     
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  8. ProgressivePower

    ProgressivePower Active Member

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    Does it look like we will cut spending any time soon?
     
  9. raytri

    raytri Well-Known Member

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    If voters actually demand it, yes.

    Of course, it’s not just “cut spending”. It’s also “raise taxes.” A combination of the two is the only feasible way to balance the budget.
     
    Last edited: Aug 30, 2019
  10. ProgressivePower

    ProgressivePower Active Member

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    That's highly, highly unlikely. Advocating for spending cuts these days is political suicide.
     
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  11. raytri

    raytri Well-Known Member

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    That’s why you need a grand bargain sort of thing.

    Democrats once offered $2.50 in spending cuts for every $1 in new taxes. Republicans turned them down. But that’s the way we’ll get there.
     
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  12. squidward

    squidward Well-Known Member

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    They never demand it.
    Who you foolin?
     
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  13. squidward

    squidward Well-Known Member

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    As a joke
     
  14. bradt93

    bradt93 Well-Known Member

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    Nomore wars, actually Trump got elected by promising to get us out of these wars. Nomore war hawks in the whitehouse. We can't afford it anymore.
     
  15. Phyxius

    Phyxius Well-Known Member

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    Good plan, as long as military spending is on the chopping block as well.
     
  16. bradt93

    bradt93 Well-Known Member

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    The democrats complained about the sequester cuts that was compromised in 2013 and cuts to defense was a part of that too if all programs across the government were cut as well.
     
  17. raytri

    raytri Well-Known Member

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    No, it wasn’t a joke. Come on.
     
  18. rahl

    rahl Banned

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    But he didn’t double the debt
     
  19. squidward

    squidward Well-Known Member

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    Did a group of politcians propose it?
     
  20. 9royhobbs

    9royhobbs Well-Known Member

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    :roflol::roflol::roflol:...................un, no
     
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  21. squidward

    squidward Well-Known Member

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    Uh, yes

    Bet you gripe about the ultra rich as you hand them trillions of dollars for "saving" you.
     
  22. dairyair

    dairyair Well-Known Member

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    The Top Five Contributors by Percentage
    Franklin D. Roosevelt: Percentage-wise, President Roosevelt increased the debt by the largest amount. Although he only added $236 billion, this was a 1,048% increase from the $23 billion debt level left by President Herbert Hoover.


    Of course, the Great Depression took an enormous bite out of revenues. The New Deal cost billions. But FDR's major contribution to the debt was World War II spending. He added $209 billion to the debt between 1942 and 1945.


    Woodrow Wilson: President Wilson was the second-largest contributor to the debt, percentage-wise. He added $21 billion, which was a 727% increase over the $2.9 billion debt of his predecessor. Wilson had to pay for World War I. During his presidency, the Second Liberty Bond Act gave Congress the right to adopt the national debt ceiling.


    Ronald Reagan: President Reagan increased the debt by 186%. Reaganomicsadded $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%.


    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% 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.


    Barack Obama: Under President Obama, the national debt grew the most dollar-wise. He added $8.588 trillion. This 74% increase was the fifth-largest. Obama's budgets included the economic stimulus package. It added $831 billion by cutting taxes, extending unemployment benefits, and funding public works projects.
    https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296

    Yet still falls behind Reagan and Bush 2.
    And needed debt to halt Bush's greatest recession in history.
     
    Last edited: Aug 30, 2019
  23. dairyair

    dairyair Well-Known Member

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    What does any of that have to do with the debt today?
    Going up every minute, with R's running the show. I guess they are handing out free stuff also.
     
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  24. dairyair

    dairyair Well-Known Member

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    Every rightist in here derailed and deflected.
    Went OT.
    Brought up obama or stuff that hasn't even happened yet.

    Why can't rightists address a topic with honesty?
     
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  25. Moonglow

    Moonglow Well-Known Member

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    Yeah it happened once back in the later 1970's and early 1980's
     

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