Only a democrat could think Trump does not work hard after watching Biden mumble and stumble half awake for 4 years. .lol!
Anyway looks like a prefect excuse to send home the federal work force, if for nothing else than to to save money on electricity.
We’ve inherited war, pestilence, and crisis from Republican administrations for decades.
The last three Democrats left you sub-5 unemployment.
Not your concern.
I;d recommend they just go along with whatever he wants.
Objections to Trump are normally good I am not a Trumper. In fact I am permanently barred from the MAGA camp. Normally I’d say he is too erratic etc. and his newly-appointed aids are too new to be trusted.
But since this is a criss jsut shut up, give him carte blanche and go along with anything he wants until the crisis is over.
There is a crisis going on. Congress should
a.) Slow it down and dicker over the details. Whistle while Rome burns,
b.) Let leadership move full speed ahead.
Pick one.
Am I missing something? Didn’t Trump just try to suspend the debt limit but Democrats refused?
Where was Yellen then ?
That would be among my lest-preferred solutions.
But, as I mentioned. We are in a crisis so . . . gotta yield to leadership, even if they pick the second best or third best way of getting out of it.
Not the Democrat’s job to help trump avoid work.
“Increasing the debt ceiling is not great but we’d rather do it on Biden’s watch”
Haha. No.
This was a problem from and during the Biden administration. Is it the Democrats job to mess up the country and refuse to help clean up after themselves?
Biden gets cheered for paying off peoples school debts and Trump gets blamed for the debts we all have to pay for junk like this.
Start by cutting off Ukraine, IMO. We didn’t take them on to raise.
I agree. But this is a problem of historical failure and can’t be resolved in the right way at once. It will take time. The question is if it will continue to be ignored.
You call it a “mess” when it’s really just procedural minutiae that used to get passed without any drama. Raising the debt ceiling is not that hard.
Try playing Obama’s hand in 2009.
You have 4% unemployment and some accounting homework. Sheesh.
Yes, an immediate fix should not be that hard…unless some block such a fix for political advantage.
The long term solution is a different thing.
Trump is inheriting a Federal Reserve w/ not only unprecedented losses of $218 billion, but it’s still losing money.
The Fed won’t send the Treasury a dime for the entirety of Trump’s term.
This has never happened before
Obama had it easy, and Biden needed only wait-out the end of the plandemic.
Nah, just a meme summation of post #8
Wait, shouldn’t we be celebrating the fact that the Fed is “losing money?”
No.
Fed prints (or eprints money) and buys bonds and MBS
—> That creates gross income for the Fed.
Fed pays money to banks in exchange for overnight holdings.
—> That creates a cost for the Fed.
It pays money to banks (in exhcange for overnight holdings) to achieve two avoid two risks. (one or the other or both).
—> When any combination of those risks becomes really really really high, the Fed pays out a very very large amount.
—> That is what is going on now, and it has never happened before. (Like never ever ever. Until now, this has only been a hypothetical “In case of emergency break this glass” sort of thing.)
This has several implications which I would be delighted to discuss.
For now, all we need understand is the above.
That doesn’t explain how President Trump managed to nearly double the deficit before Covid hit
This chart is
a.) The latest Trump meme coin.
b.) The currency of the Zimbabwe
-or-
c.) An aggregate profit-and-loss statement for the central bank of the most powerful economy in the world.
(HINT, not a. and nopt b.)
I don’t think that’s right. The “problem” as it were is that the Fed stockpiled low-rate debt in the heart of the crisis. It’s now holding very low interest debt that used to belong to the financial sector.
So the Fed is “losing money” on low interest debt. Kinda like banks would be doing if banks held it. This is what happens when interest rates rise quickly.
I’ll take the Fed “losing money” over banks every day of the week. I don’t think there’s need for that fire extinguisher.
(I’m addicted to the edit function here, which is new (at least relative to my participation here)
