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Republican Bankruptcy For US Coming On October 18th, 2021

Mace Canute

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‘Nope it is like when you use your credit card instead of paying cash for a purchase. When the credit card bill arrives you have the option of making a payment, paying the full amount charged or default.

The US can not pay the full amount so it makes payments and is charged interest just as you would be if you only made a payment and not pay the full amount.

The US is currently paying a God awful Interest on the money it has borrowed to pay it’s bills. If the information in the web link below will not shock you, nothing never will. Remember when looking at the web link, they are talking billions.

And it's telling that the Trumpers who castigate the Democrats for increasing the debt never say a bad word about those who increased your country's debt by trillions during Cheeto's presidency before there was a pandemic and your country's economy was, according to Cheeto, at an all time high due 100% to him personally...
 

Mace Canute

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really? Is that how credit cards work..... ? Everyone is not as dumb as you.

God awful.... you're making my point. Why then are you supporting spending EVEN MORE?

Oh that's right, it's your guys spending it so it's ok. and YES, I was against it when trump spent it.
Since you think there's other options a person with a credit card has once it comes due...list them!
 

Gator6x4

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God awful.... you're making my point. Why are you supporting spending EVEN MORE?
You do not understand even after I gave you the abstract credit card illustration. The borrowing is to pay the credit card bill. Like when you have a 1st mortgage, a 2nd mortgage and a line of credit on your house. You have borrowed the max on all three, 1st and 2nd mortgage and the line of credit on the appraisal value of your house (Deficit Ceiling) now bills need to be paid And you do not have any money to pay them. The only way to borrow more money is to get the appraisal value of your house raised. The Bank refuses to do that so. Exactly what Mitch McConnell and the Senate Republicans are doing. You unable to borrow more money, default and file for bankruptcy. Tax cuts sounds so great when spewed forth from a politicians mouth but they come at a very high price.
 
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Gator6x4

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Since you think there's other options a person with a credit card has once it comes due...list them!
‘Look for the number one option to be, give the bill to my parents they are the ones responsible for paying the bill for what I charged, not me.:LOL::LOL::ROFLMAO:
 

lostcreekranch

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There is a visual difference between night and day. Just as there is a difference in what is being played out in the Senate in 2021 by Mitch McConnell and previous years.

“Why the 2021 debt ceiling duel is different:

Partisan posturing between the parties over the debt isn’t unusual. But what is unusual this time is that Republicans are going further than the minority party has in the past by using the filibuster to force the Democrats to increase the debt limit.

Democrats did not filibuster debt limit increases in 2003, 2004 and 2006, allowing Senate Republicans to raise the debt limit with a simple majority, said Andrew Carothers, a research analyst at the Bipartisan Policy Center.

"This time around, Senate Republicans have already filibustered one bill that would have suspended the debt limit, are likely to filibuster another, and have shown no indication that they will allow Democrats to pass stand-alone legislation to raise or suspend the debt limit outside of the reconciliation process," Carothers said.“
Where did you plagiarize .. that load of crap from??

Let's Go .. Brandon!
 

lostcreekranch

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And it's telling that the Trumpers who castigate the Democrats for increasing the debt never say a bad word about those who increased your country's debt by trillions during Cheeto's presidency before there was a pandemic and your country's economy was, according to Cheeto, at an all time high due 100% to him personally...
Is that .. a WHATABOUT .. Dumbass.

Well then .. why not tell us how Obama / Biden doubled the National Debt?
 

Mace Canute

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Is that .. a WHATABOUT .. Dumbass.

Well then .. why not tell us how Obama / Biden doubled the National Debt?
Damn right it's a whataboutism...you should have been able to recognize it as that since you use whataboutisms all the time.

Obama didn't double the US National Debt.
From:

Ronald Reagan (1981-1989)

President Reagan increased the debt by $1.86 trillion, or by 186%. Reagan's supply-side economics didn't grow the economy enough to offset the lost revenue from its tax cuts. Reagan also increased the defense budget by 35%.4


George W. Bush (2001-2009)

President Bush added $5.85 trillion to the national debt. That's a 101% increase, putting him in fourth. Bush launched the War on Terror in response to the 9/11 attacks, which led to multi-trillion-dollar spending on the War in Afghanistan and the War in Iraq. Bush also dealt with the 2001 recession and the 2008 financial crisis.5


Barack Obama (2009-2017)

Under President Obama, the national debt grew the most dollar-wise ($8.6 trillion) and was fifth in terms of percentage at 74%. Obama fought the Great Recession with an $831 billion economic stimulus package and added $858 billion through tax cuts. Even though fiscal year 2009 budget was set by President Bush, Obama added to it with the Economic Stimulus Act in 2009.56

Don't forget Obama inherited a country that was fully into the Great Recession thanks to Shrub and took it to an unprecedented high financial level that Cheeto took credit for... :rolleyes:
 

Schrute Farm

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You do not understand even after I gave you the abstract credit card illustration. The borrowing is to pay the credit card bill. Like when you have a 1st mortgage, a 2nd mortgage and a line of credit on your house. You have borrowed the max on all three, 1st and 2nd mortgage and the line of credit on the appraisal value of your house (Deficit Ceiling) now bills need to be paid And you do not have any money to pay them. The only way to borrow more money is to get the appraisal value of your house raised. The Bank refuses to do that so. Exactly what Mitch McConnell and the Senate Republicans are doing. You unable to borrow more money, default and file for bankruptcy. Tax cuts sounds so great when spewed forth from a politicians mouth but they come at a very high price.
Who said I don't want the US to pay it's debt? I understand it has to be raised but not the amount you want.

STOP SPENDING MY KIDS MONEY GDI.
 

Gator6x4

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Who said I don't want the US to pay it's debt? I understand it has to be raised but not the amount you want.

STOP SPENDING MY KIDS MONEY GDI.
Actually I do not want it raised. I am a balanced budget guy like Clinton.

Clinton turned the government with a balanced budget. This means the US was taking in enough tax money to pay for its purchases without borrowing. Bush took over and cut taxes. It has been down hill ever since.

 

Schrute Farm

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Actually I do not want it raised. I am a balanced budget guy like Clinton.

Clinton turned the government with a balanced budget. This means the US was taking in enough tax money to pay for its purchases without borrowing. Bush took over and cut taxes. It has been down hill ever since.

Still telling that lie?
 

Mace Canute

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really? Is that how credit cards work..... ? Everyone is not as dumb as you.

God awful.... you're making my point. Why then are you supporting spending EVEN MORE?

Oh that's right, it's your guys spending it so it's ok. and YES, I was against it when trump spent it.
Since you think there's other options a person with a credit card has once it comes due...list them!
When are you going to inform us how credit cards work?
 

Gator6x4

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Still telling that lie?
‘No lie. Clinton and Newt Gingrich accomplished that hat trick of having a surplus in revenue over budgeted items. Bush 2 took over with a budget surplus and led the US into the 2008 recession and near government collapse that Obama inherited.

“Other readers have noted a USA Today story stating that, under an alternative type of accounting, the final four years of the Clinton administration taken together would have shown a deficit. This is based on an annual document called the “Financial Report of the U.S. Government,” which reports what the governments books would look like if kept on an accrual basis like those of most corporations, rather than the cash basis that the government has always used. “

“The principal difference is that under accrual accounting the government would book immediately the costs of promises made to pay future benefits to government workers and Social Security and Medicare beneficiaries. But even under accrual accounting, the annual reports showed surpluses of
$69.2 billion in fiscal 1998, $76.9 billion in fiscal 1999, and $46 billion for fiscal year 2000. So even if the government had been using that form of accounting the deficit would have been erased for those three years.”

I am sure the facts and truth are something you did not want to hear.
 
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Schrute Farm

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Another lie. Intro-governmental debt was not included in Clinton's budget like was done previously. Eisenhower was the last potus to balance the budget.

Man you are a dishonest partisan hack.
 

Mace Canute

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Oops!


Nevertheless, the final 1960 budget was balanced. Admittedly, it was aided by a bit of luck and one big gimmick. The good fortune: The recovery from the 1958 recession turned out to be more vigorous than expected. The gimmick: A large contribution to the International Monetary Fund was artificially moved forward into 1959 so it would not count against the 1960 budget.
 

Schrute Farm

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Oops!


Nevertheless, the final 1960 budget was balanced. Admittedly, it was aided by a bit of luck and one big gimmick. The good fortune: The recovery from the 1958 recession turned out to be more vigorous than expected. The gimmick: A large contribution to the International Monetary Fund was artificially moved forward into 1959 so it would not count against the 1960 budget.
Fair enough. Yet another gimmick to deceive just like slick Willy did.

Remember, I was saying a D was the last.
 

Gator6x4

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Fair enough. Yet another gimmick to deceive just like slick Willy did.

Remember, I was saying a D was the last.
‘The total point you are missing with Eisenhower and Clinton is that it was accomplished by Democrats and Republicans working together for the good of the United States of America not a political party.
 
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