Janet Yellen says rising deficits are unsustainable and would cut benefits and raise taxes

mobulis · 2018-12-14T14:33:16.183Z

zantax:

CaughtInTheMiddle:

Gravityspeak:

Exactly right. I still am amazed at how many Trumplovers claim he’s a great business man. Given everything, grifted working men along the way, squelched on debts by claiming bankruptcy multiple times.

And you’re right. When he’s done here, he’ll make even more. After he bankrupts us, of course.

i think the reason Obama was working on reducing the deficit while Trump is exploding it is because Obama didn’t grow up making $250,000 per year at 3 years of age. Trump never had to struggle. he doesn’t understand the value of money.

Hilarious., Obama working to reduce the deficit, what made you think that? His outlandish requests for unprecedented spending that was denied by a republican congress?

By the fact that he did it.

Cratic3947 · 2018-12-14T14:43:26.349Z

mobulis:

zantax:

CaughtInTheMiddle:

Gravityspeak:

Exactly right. I still am amazed at how many Trumplovers claim he’s a great business man. Given everything, grifted working men along the way, squelched on debts by claiming bankruptcy multiple times.

And you’re right. When he’s done here, he’ll make even more. After he bankrupts us, of course.

i think the reason Obama was working on reducing the deficit while Trump is exploding it is because Obama didn’t grow up making $250,000 per year at 3 years of age. Trump never had to struggle. he doesn’t understand the value of money.

Hilarious., Obama working to reduce the deficit, what made you think that? His outlandish requests for unprecedented spending that was denied by a republican congress?

By the fact that he did it.

The debt doubled under Obama… from like 10 to 20 trillion, so… That’s how great the swamp is…

Gravityspeak · 2018-12-14T14:44:55.906Z

And how’s it doing now under two years of total R control? Your argument is weak and limp.

Jezcoe · 2018-12-14T14:53:54.697Z

Gravityspeak:

And how’s it doing now under two years of total R control? Your argument is weak and limp.

Also comparing a period of economic freefall to a period of sustained growth and full employment doesn’t help with that argument either.

Cratic3947 · 2018-12-14T14:57:32.709Z

Gravityspeak:

And how’s it doing now under two years of total R control? Your argument is weak and limp.

It’s going up as predicted for decades… as boomers take entitlements.

Jezcoe · 2018-12-14T14:59:45.523Z

Cratic3947:

Gravityspeak:

And how’s it doing now under two years of total R control? Your argument is weak and limp.

It’s going up as predicted for decades… as boomers take entitlements.

Perfect time to borrow over a trillion dollars from the future in order to solve Apple’s corporate tax problem.

Cratic3947 · 2018-12-14T15:02:06.941Z

Oh, look another record tax collection for month of October…

" The federal government collected record total tax revenues of $458,653,000,000 in October and November, the first two months of fiscal 2019, according to the Monthly Treasury Statement released today."

https://www.cnsnews.com/news/article/terence-p-jeffrey/feds-collect-record-taxes-through-november-still-run-3054b-deficit

Trump is Cool…

highroller · 2018-12-14T15:48:38.198Z

So your income increases by $1,000 but you spent $2,000 on a credit card.

How are you fiscally conservative?

Cratic3947 · 2018-12-14T18:53:55.563Z

highroller:

So your income increases by $1,000 but you spent $2,000 on a credit card.

How are you fiscally conservative?

I’m all for cutting, but dems will say we are trying to kill grand ma. Dems have to lead the charge…

highroller · 2018-12-14T19:06:25.562Z

No, they don’t. They don’t claim to be fiscally conservative.

adroit · 2018-12-14T19:10:29.667Z

Cratic3947:

Oh, look another record tax collection for month of October…

" The federal government collected record total tax revenues of $458,653,000,000 in October and November, the first two months of fiscal 2019, according to the Monthly Treasury Statement released today."

Feds Collect Record Taxes Through November; Still Run $305.4B Deficit

Trump is Cool…

Much lower than had we kept our previous system. Sad.

Cratic3947 · 2019-01-03T18:16:04.438Z

I wonder, if Nancy listens to Yellen?

Guvnah · 2019-01-03T18:39:43.026Z

The debt will eventually kill us.

No pols want to listen to those of us who are concerned about this.

The national debt has grown in every year since before any of us were born. So the bickering over Trump-this and Obama-that is just … bickering.

And in my opinion, the upshot of this thread is really just an exercise in poking thumbs in the eyes of those of us who decry the debt and the deficits, but who have absolutely no representation and no voice in our government.

Maybe something would change if we all showed concern for out-of-control spending.

highroller · 2019-01-03T18:49:17.920Z

The problem is the people who benefit the most from debt spending (Well connected wealthy households & Elderly Baby Boomers) are the only people the politicians listen to anymore. This is through low taxes and spending mandates.

What’s the breaking point? 200% Debt to GDP? 400%? Is there a breaking point? Deficits don’t matter to some, but they do to me and we should raise taxes to eliminate them.

Guvnah · 2019-01-03T18:53:02.576Z

highroller:

Deficits don’t matter to some, but they do to me and we should raise taxes to eliminate them.

Raising taxes just enables even more spending.

reflechissez · 2019-01-03T18:57:15.389Z

Guvnah:

highroller:

Deficits don’t matter to some, but they do to me and we should raise taxes to eliminate them.

Raising taxes just enables even more spending.

And lowering taxes enables…?

Guvnah · 2019-01-03T19:00:45.249Z

reflechissez:

And lowering taxes enables…?

Not my argument. If you have an idea for an answer, share it.

I would have left taxes alone and just cut spending.

reflechissez · 2019-01-03T19:02:39.371Z

Guvnah:

reflechissez:

And lowering taxes enables…?

Not my argument. If you have an idea for an answer, share it.

I would have left taxes alone and just cut spending.

Raising taxes actually causes people to pay more attention to spending, not less.

highroller · 2019-01-03T19:08:17.168Z

If you borrow and spend, you’re spending.
If you tax and spend, you’re spending.

Raising taxes enables you to spend more, but it also enables you to pay down debt or borrow less for the spending.

If Congress has it’s heart set on spending (which it apparently does from its track record), what is the solution to mounting debt in the treasury other than raising taxes?

reflechissez · 2019-01-03T19:10:41.539Z

highroller:

If you borrow and spend, you’re spending.
If you tax and spend, you’re spending.

Raising taxes enables you to spend more, but it also enables you to pay down debt or borrow less for the spending.

If Congress has it’s heart set on spending (which it apparently does from its track record), what is the solution to mounting debt in the treasury other than raising taxes?

Just keep repeating that you would cut spending, knowing that it will never happen.