Trumps MAGA Crowds Wants The US To Default On The Nations Debt Or Pull A Trumpism, File For Bankruptcy.

Mace Canute

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Gator6x4

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The Democrats should let the Repuglicans force a default...and then make sure everyone knows it was them that tanked your economy.
Tanking the economy will only be the start. The creditworthiness of the US will also be destroyed.

What the Trumpers do not understand the US borrows huge sums of money to pay it bills with. The US also pays billions, yes billions each year on borrowed money to keep the checks in the mail.

Fiscal YearInterest on the Debt (in billions)Interest Rate on 10-Year Treasury
2018$3252.9%
2019$3752.2%
2020$3762.0%
2021$3782.2%

Given the number of stupid people in the US measured by those would are refusing to get the Covid-19 vaccination or voted for Trump in the last Presidential Election the Trumpers will blame the default on Biden because he is a Democrat and current President and a very large percentage of the US Population will believe the lie that the Default was Biden's fault.

Look at the 50 billion dollar jump in interest payments between 2018 and 2019 because of Trumps tax cuts.
 

Gator6x4

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The Evergrande fiasco in China may have equivalent effect. When Lehman went down in 2008 there were nearly enough assets to cover debts. Evergrande in contrast has $300b in debt and near zero actual assets to for a bankruptcy to distribute.

Blackrock and I think Vanguard are the largest US firms invested in Evergrande bonds. If either sells other investments to cover their Evergrande loss, we may see a downturn.
 

lostcreekranch

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How does the US default on it debt .. if US Debt Ceiling is not increased?

Fact #1 ... The US Treasury receives approximately $320B / month in taxes, fees, etc.

Fact #2 ... The Debt payment is $44B / month.

Even if the government is shut down the $320B / month continues to be deposited and the Debt payments will me made. Read the US Constitution.

This whole Democrat scare tactic .. that the world will end if the Debt Ceiling isn't raised .. is Liberal BS.

BTW ... Past spending .. is already included in the US Debt and present Debt payments.

The Librotards .. want the Debt Ceiling increased to cover their massive economy killing spending bills.
 

Mace Canute

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How does the US default on it debt .. if US Debt Ceiling is not increased?

Fact #1 ... The US Treasury receives approximately $320B / month in taxes, fees, etc.

Fact #2 ... The Debt payment is $44B / month.

Even if the government is shut down the $320B / month continues to be deposited and the Debt payments will me made. Read the US Constitution.

This whole Democrat scare tactic .. that the world will end if the Debt Ceiling isn't raised .. is Liberal BS.

BTW ... Past spending .. is already included in the US Debt and present Debt payments.

The Librotards .. want the Debt Ceiling increased to cover their massive economy killing spending bills.
Then why has the debt ceiling been raised so many times when Repuglicans were in charge?
 

lostcreekranch

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Right, you really are "TOO FUC ..NG STOOPID TO REPLY TOO."
So that's YOUR .. Debate / Discuss?

Obviously .. you are unable / incapable .. of refuting my points regarding the US Debt Ceiling??

Perhaps .. you shouldn't participate in threads .. you cannot comprehend?

Or .. just admit that you're a .. know nothing, pretentious, PRICK.
 

Mace Canute

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So that's YOUR .. Debate / Discuss?

Obviously .. you are unable / incapable .. of refuting my points regarding the US Debt Ceiling??

Perhaps .. you shouldn't participate in threads .. you cannot comprehend?

Or .. just admit that you're a .. know nothing, pretentious, PRICK.
No, that was your response to a legitimate question..."Then why has the debt ceiling been raised so many times when Repuglicans were in charge?"
 

Gator6x4

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How does the US default on it debt .. if US Debt Ceiling is not increased?

Fact #1 ... The US Treasury receives approximately $320B / month in taxes, fees, etc.

Fact #2 ... The Debt payment is $44B / month.

Even if the government is shut down the $320B / month continues to be deposited and the Debt payments will me made. Read the US Constitution.

This whole Democrat scare tactic .. that the world will end if the Debt Ceiling isn't raised .. is Liberal BS.

BTW ... Past spending .. is already included in the US Debt and present Debt payments.

The Librotards .. want the Debt Ceiling increased to cover their massive economy killing spending bills.
What bathroom wall did you get your hot information?

The US collects or received in 2020 3.42 trillion dollars In revenue.


What is the total US budget for 2020?

Note. Government spending is broken down into three categories: mandatory spending, budgeted at $4.018 trillion; discretionary spending, forecasted to be $1.688 trillion; and interest on the national debt, estimated to be $305 billion. Each category of spending has different subcategories.Jul 15, 2021.


Budgeted items alone in 2020 was 4.018 trillion. This does not include discretionary spending, forecasted to be $1.688 trillion; and interest on the national debt, estimated to be $305 billion.

This alone created a deficit. There is a huge difference in “Budget” - “Deficit” - “Debt Ceiling”

A deficit is created when the US spends more than it takes in in revenue so the US has to borrow the money it spends in excess of revenue.

The Debt ceiling is a numerical number in dollars that the Federal Government can borrow up up but not over to pay it bills. So when the Federal Government has borrowed up to the debt ceiling limit and cannot borrow anymore it does not have the money to pay it’s bills and the Government is shut down.


A lot of money was spent in 2020.



If the US debt ceiling is not raised, and the Government Shuts Down SS Checks will probably not stop along with a host of other government services but filing for SS will probably not be available.




 

lostcreekranch

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What bathroom wall did you get your hot information?

The US collects or received in 2020 3.42 trillion dollars In revenue.


What is the total US budget for 2020?

Note. Government spending is broken down into three categories: mandatory spending, budgeted at $4.018 trillion; discretionary spending, forecasted to be $1.688 trillion; and interest on the national debt, estimated to be $305 billion. Each category of spending has different subcategories.Jul 15, 2021.


Budgeted items alone in 2020 was 4.018 trillion. This does not include discretionary spending, forecasted to be $1.688 trillion; and interest on the national debt, estimated to be $305 billion.

This alone created a deficit. There is a huge difference in “Budget” - “Deficit” - “Debt Ceiling”

A deficit is created when the US spends more than it takes in in revenue so the US has to borrow the money it spends in excess of revenue.

The Debt ceiling is a numerical number in dollars that the Federal Government can borrow up up but not over to pay it bills. So when the Federal Government has borrowed up to the debt ceiling limit and cannot borrow anymore it does not have the money to pay it’s bills and the Government is shut down.


A lot of money was spent in 2020.



If the US debt ceiling is not raised, and the Government Shuts Down SS Checks will probably not stop along with a host of other government services but filing for SS will probably not be available.




1. Debt payment IS mandatory spending.

2. The Treasury currently receives about $320B per MONTH.

3. These funds will be received regardless of whether the Government is SHUT DOWN a or NOT.

4. Present monthly payment again federal debt is about $44B per MONTH.

LASTLY .. If the Democrats huge Spending Bills COST NOTHING (according to Biden and Democrats) there's NO NEED to raise the debt ceiling.
 

lostcreekranch

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Gator, it's just a waste of time to reply to the fool. He is a Trumper through and through and facts and truth will not change what he believes, regardless of how batcrapcrazy his beliefs are...
"it's just a waste of time"

Applies .. to reading any of your posts.

You're a typical liberal know it all .. who's convinced that everything you believe is "facts and truth" and the rest of us are "fools". You think your 3rd grade insults are .. debate?
 

Gator6x4

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Gator, it's just a waste of time to reply to the fool. He is a Trumper through and through and facts and truth will not change what he believes, regardless of how batcrapcrazy his beliefs are...
He is a true Trumper he wants the US to default on it's Financial obligations and lose it's Double AA+ Credit rating it was reduced to from a Triple AAA rating in 2011 after the Government Shut Down so he can say with his chest all puffed out, LOOK WHAT THE DEMOCRATS AND BIDEN DID.

Biden blasts Republican lawmakers, telling them to "just get out of the way" as U.S. approaches debt ceiling (cbsnews.com)
 
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