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mugtang

Debt ceiling

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8 hours ago, soupslam1 said:

WTF am I missing? The Dems control the House, the Senate, and the presidency and they want to blame Republicans because they can’t raise the debt limit? GTFOH

I guess that shouldn’t surprise me. Every time they phuck up they blame it on Republicans. 

Exactly. This is a Democrat problem. Raise the debt ceiling. Republicans can't stop you. We don't have the numbers. 

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12 hours ago, halfmanhalfbronco said:

At the booth?  No.  It won't.  Not at all.  Allowing us to default over football?  +++++ that.  Faith in US debt is the grease that keeps the global gears from grinding to a halt.  It is a key part of one leg of the tripod upon which the Peace of America rests.  Let alone the catastrophic loss in household wealth and US jobs.  It can not be allowed to happen.  If you thought we lost trust globally with the Afghan withdrawal.... 

 

 

Even if we don't raise the debt ceiling the debt will not be defaulted on, that I can assure you. The government still brings in billions daily. Borrowing is not our only source of revenue. 

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12 hours ago, retrofade said:

But since I was apparently incorrect re: the debt ceiling and reconciliation, then the dems should just do that instead of bothering to include the GQP in that, since they obviously don't give a flying fvck about actually governing. 

The GOP has nothing to do with this. They couldn't block it if they wanted to, which the majority don't want to. The Democrats have the numbers, its their problem if it isn't raised. 

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12 hours ago, Maji said:

Yeah, it would be an unmitigated disaster

No it wouldn't 

I must repeat it again. If the debt ceiling isn't raised we will not default on the debt. Interest payments will still be paid. Social Security payments would still be paid. Critical defense spending would still get spent. The government gets most of their money from various forms of taxation, not borrowing. The tax revenues will still be coming in. 

Low priority less critical items would definitely get cut, but that is not such a bad thing IMO. 

 

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26 minutes ago, mugtang said:

They will care when the global economy goes into chaos because the United States could no longer pay its bills. 

The critical bills will still get paid. The less critical bills that none cares about. Well they could get the axe, and that is not such a bad thing. 

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12 minutes ago, bornontheblue said:

The critical bills will still get paid. The less critical bills that none cares about. Well they could get the axe, and that is not such a bad thing. 

If we hit the debt limit they will continue to pay bond holders. But social security payments will likely be stopped or dramatically reduced, troops won’t get paid, Medicare won’t get funded.  It will still be a technical default and it will send the economy into an unnecessary tailspin.  

thelawlorfaithful, on 31 Dec 2012 - 04:01 AM, said:One of the rules I live by: never underestimate a man in a dandy looking sweater

 

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48 minutes ago, mugtang said:

Raising the debt ceiling isn’t about new spending. It’s about funding spending that has already been approved by Congress, including the GOP. 

If that were true this wouldn’t be an issue. The Dems could whip the votes this afternoon. The reality is it’s all about new spending. That’s what they’re fighting about. That’s all Congress has been talking about for months. And it’s why we’re screaming down the road aimed at a telephone pole.

We’re all sitting in the dugout. Thinking we should pitch. How you gonna throw a shutout when all you do is bitch.

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50 minutes ago, halfmanhalfbronco said:

No, reconciliation.  That simple.  Scrap the 3.5 trillion wish list "infrastructure" lmao idea and you get the votes.  Seems simple.  Time to start working across the isle and get the votes!!!  Scrap Bernies idiotic draft and start over.  Keep it under a trillion.  K thx bi

So taking hostages to have the minority not only control the filibuster but also any chance for the majority to pass anything?

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44 minutes ago, bornontheblue said:

Exactly. This is a Democrat problem. Raise the debt ceiling. Republicans can't stop you. We don't have the numbers. 

It is only a democrat problem.   They just need to have the gumption to solve it!

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Just now, Akkula said:

So taking hostages to have the minority not only control the filibuster but also any chance for the majority to pass anything?

 

No.  Scrap the 3.5 trillion wish list proposal, pass the 1 trillion bi-partisan proposal and get shit done.  The democrats want their wish lists passed or nothing at all.  Fuggem.

 

 

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9 minutes ago, mugtang said:

If we hit the debt limit they will continue to pay bond holders. But social security payments will likely be stopped or dramatically reduced, troops won’t get paid, Medicare won’t get funded.  It will still be a technical default and it will send the economy into an unnecessary tailspin.  

This is not true. The Government typically gets 70-75% of its annual revenue from tax collections. The last couple of years and all the stimulus spending has reduced that to about 60%. When the pandemic is over those number will go back to the 70-75% range again. We will have plenty of money to pay the most critical expenses like bondholders, social security recipients, the troops will still get paid. The most wasteful unnecessary expenditures could get cut though, which isn't so bad. The actual debt could go down for the first time in decades if we don't raise the debt ceiling because bonds will still be retired and principal paid back. I don't see it as a huge looming crises most people do. 

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Just now, halfmanhalfbronco said:

 

No.  Scrap the 3.5 trillion wish list proposal, pass the 1 trillion bi-partisan proposal and get shit done.  The democrats want their wish lists passed or nothing at all.  Fuggem.

 

 

Passing the Republican bill won't raise the debt limit. 

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49 minutes ago, halfmanhalfbronco said:

No, reconciliation.  That simple.  Scrap the 3.5 trillion wish list "infrastructure" lmao idea and you get the votes.  Seems simple.  Time to start working across the isle and get the votes!!!  Scrap Bernies idiotic draft and start over.  Keep it under a trillion.  K thx bi

Under a trillion?!!! Hey progressives, go bend over. Not going to happen. This is the conundrum we’re in. When they took the bipartisan infrastructure bill hostage, the left wing meant it. Not so much the rest of the party.

We’re all sitting in the dugout. Thinking we should pitch. How you gonna throw a shutout when all you do is bitch.

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Just now, Akkula said:

Passing the Republican bill won't raise the debt limit. 

What "republican" bill are you talking about?  The one that had 10 democrats and 6 republicans work out?  That would be a HUGE win for democrats?  The one the democrats got the GOP to DOUBLE their starting position?

 

Scrap Bernies BS, and the debt limit would get raised this afternoon.  

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1 minute ago, Akkula said:

It is only a democrat problem.   They just need to have the gumption to solve it!

Republicans are not standing in the way of raising the debt ceiling. Bring up a clean bill with no garbage attached to it and it will pass with bipartisan agreement well past the 60 votes 

The Democrats are the ones trying to use the opportunity to score a cheap political hit. 

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43 minutes ago, bornontheblue said:

The GOP has nothing to do with this. They couldn't block it if they wanted to, which the majority don't want to. The Democrats have the numbers, its their problem if it isn't raised. 

If it's done via reconciliation, they can't block it. If it's normal legislation, they can block it by objecting to the invocation of cloture. 

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Not raising the debt limit is cutting off our nose to spite our face.  It’s stupid.  Debates about spending and taxes?  No problem.  Phucking with the faith and credit of the United States is suicide. Everybody who supported Trump’s tax cuts and spending spree should have zero issue with raising the debt limit.  

thelawlorfaithful, on 31 Dec 2012 - 04:01 AM, said:One of the rules I live by: never underestimate a man in a dandy looking sweater

 

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Just now, mugtang said:

Not raising the debt limit is cutting off our nose to spite our face.  It’s stupid.  Debates about spending and taxes?  No problem.  Phucking with the faith and credit of the United States is suicide. Everybody who supported Trump’s tax cuts and spending spree should have zero issue with raising the debt limit.  

Something something teams and shit?

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Just now, mugtang said:

Not raising the debt limit is cutting off our nose to spite our face.  It’s stupid.  Debates about spending and taxes?  No problem.  Phucking with the faith and credit of the United States is suicide. Everybody who supported Trump’s tax cuts and spending spree should have zero issue with raising the debt limit.  

I don't oppose raising the debt limit, I just don't think it would be a complete catastrophe if we don't. In fact there could be economic benefits. 

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6 minutes ago, thelawlorfaithful said:

Under a trillion?!!! Hey progressives, go bend over. Not going to happen. This is the conundrum we’re in. When they took the bipartisan infrastructure bill hostage, the left wing meant it. Not so much the rest of the party.

The people who really don't want a default are the  billionaire types and big banks.  So bad for their portfolios.

Demand for goods and services will not suddenly go away but wall street will have a tough day.   Why do you think people with fixed mortgages and salaries should sell out to protect wall street?  

"Progressives" know this but Republicans and Corporate democrats want to give away the farm. 

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