Straight off the hot presses of Wapo/MSNBC rainbow propaganda.
The debt ceiling crisis is fast approaching. Red States should punish Biden.
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27
Soon the government will not be able to pay all its bills because Biden is using the debt ceiling as leverage to increase spending (actually the growth of spending)
Why the sudden desire to increase spending? Because we have a Democrat in the White House.
What if the spending increases cause a inflation? Perfect, then Republicans can win back the White House in 2024
So when we get to the point the country can’t pay all its obligations because inflation has destroyed the value of money, who should get stiffed first?
The answer should be obvious. Don't pay for Democrat corporate welfare. After all, it’s their Congressmen who are spending more than the GDP can handle.
So when cuts become necessary, and the Treasury Department has to choose who doesn’t get paid, start with Corporate Welfare checks to rich corporations in Blue States.
That should light a fire under the ass of these Congressmen. No Green Energy subsidies for people in California, Mass, New York, and so on.
Biden isn’t going to win regardless, so he isn’t losing anything politically. Plus this is payback for Republicans ending corporate welfare on Blue States.
Fair is fair. Blue states get most of the corporate welfare in this country, Blue states should not keep getting paid.
After all, it’s their Congressmen who are spending more than the GDP can handle.
Lol, none of your statements make any sense.
Government spending is a component of GDP you idiot
Corporate Welfare checks to rich corporations in Blue States.
You mean oil companies?
No Green Energy subsidies for people in California, Mass, New York, and so on.
Oh ya, that’s what is causing inflation. The same thing happened when the government subsidized the railroads in the 19th century.
Republicans ending corporate welfare on Blue States.
Republicans dramatically cut taxes for corporations in 2017
Blue states get most of the corporate welfare in this country
That’s nonsense. What a dummy. No wonder you are a substitute teacher
What happens when debt gets too high?
Government spending is a component of GDP
So we should spend more because spending = gaining?
That sounds like flawless logic.
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@Best.Korea
gaining
Odd choice of words
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@IwantRooseveltagain
Why should I pay taxes if the govt can just print worthless money out of thin air? The current total to date is 31 trillion worthless dollars printed and not one penny is being allocated to reduce it. How many more trillions can the govt print before the entire house of cards comes falling down? Everyone at the federal reserve should be executed.
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@Best.Korea
That sounds like flawless logic.
Fanchick is describing a Ponzi scheme where the Government creates actual production out of thin air by simply spending money not confiscated from production taxes, but with money printed from nothing.
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@sadolite
Rats you beat me to it.
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@sadolite
Everyone at the federal reserve should be executed.
Ok that 31 trillion is under the US Treasury not the Federal Reserve
The Treasury borrows money by issuing T bills and bonds. The Federal Reserve “prints” money and uses it to buy bad assets from member banks or loan them money at low interest rates to keep them solvent when they fuck up or to increase the money supply in the economy.
You and SubTeach don’t know what you are talking about.
Rats you beat me to it.
No surprise you got it wrong too SubTeach
Just as an individual might keep an account at a bank, the U.S. Treasury keeps a checking account with the Federal Reserve, through which incoming federal tax deposits and outgoing government payments are handled.
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@sadolite
The US Federal Reserve said it will stop printing money by March and begin to raise rates, actions which tend to put further pressure on soft-pegged countries that do not raise rates in tandem and slow domestic credit.
The Federal Reserve under Jerome Powell has fired the worst inflation since 1982 (thanks to a reckless dummy, Carter), blaming ‘cost push’ factors like supply chain disruption and claiming price rises will be transitory.
"With inflation well above 2 percent and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate,” the Federal Reserve said.
“In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook.
“The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals.”
The Fed will continue to print 30 billion US dollars till March. The target rate is now 0.25 percent.
The Fed under Jerome Powell has fired the worst inflation since the 1970s great inflation which came after the collapse of the Bretton Woods gold peg. Inflation started to fall after 1980 when Chairman Paul Volcker tightened monetary policy.
The Federal Reserve does not actually "print money," but rather controls the money supply by adjusting interest rates and the amount of money in circulation through open market operations that creates the money supply.
That being said, the Federal Reserve's decision to raise interest rates can have significant effects on both the US and global economies. Soft-pegged countries (dependent), which tie their currency to the US dollar, may experience increased pressure if they do not also raise their interest rates in tandem with the Federal Reserve. This can lead to slower credit growth and potential economic instability.
Inflation has been a concern for the Federal Reserve in recent years, with prices rising at their fastest rate in decades. The Fed has attributed this to "cost push" factors such as supply chain disruptions, conveniently blaming the Covid lockdowns, but has also acknowledged that price increases may not be transitory and could become more persistent. (at this point we most certainly can say this isn't transitory after spending so many trillions to offset the lockdowns)
The Fed's decision to raise interest rates will likely have an impact on borrowing and lending rates, as well as consumer spending and investment. The Fed has stated that it will continue to monitor economic conditions and adjust its policy as needed to achieve its goals of stable prices and maximum employment. Whether or not that employment is productive is unknown and could be trouble if wages are not keeping up with inflation. (which they are not). In such case, employment numbers may not be any indication at all that the economy is doing well and will likely mask real problems of a declining economy.
Enjoy the recession.
Where did you cut and paste this from SubTeach?
WAPO.
The only real credible source left for the Fanchick in us all.
@iwantroosevelt
What happens when debt gets too high?
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@IwantRooseveltagain
The federal reserve's only responsibility is to control the amount of currency in circulation to control inflation based on wealth created. It is the federal reserve that tells the treasury it can print more money. The federal reserve is 100% responsible for all worthless dollars printed. The federal reserve is 100% responsible for inflation. And spare me the supply and demand argument for some isolated commodity. Also the question I asked is not answered. How many more trillions of worthless dollars can be added to the already 31 trillion before the whole house of cards comes falling down? You must have an approximate figure because you don't think it is an issue right now. Also why should I pay taxes if the govt can just spend money it doesn't have? It just creates money out of thin air. I cant do that. I dont recall allowing the govt to sell unrepayable debt.
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@Greyparrot
Why the sudden desire to increase spending? Because we have a Democrat in the White House.
With all of the following, the context i.e. circumstances in which they occurred have to be considered. Ex with Bush we entered into an un-necessary war in Iraq.
With Obama we had economic crisis from previous Bush administration and other circumstances.
Clinton balanced the budget and that is last we saw of that and probably will never see again ever.
..."Democratic Presidents Manage the Economy Better Than Republicans
- Ten of the last eleven recessions have occurred under Republican Presidents.
- Democratic presidents create more than twice as many jobs per year as Republican Presidents.
- Republican presidents' deficits are 54% larger than Democrats' and 65% higher as a percent of GDP.
- GDP grows 75% faster under Democratic Presidents.
- Business investment has grown twice as fast under Democratic Presidents than under Republican Presidents.
- Forbes Guest Post (11/7/16): The Economy Does Better Under The Democrats "....
.." While Republicans often claim that they are the more fiscally responsible party, my research suggests otherwise. Compared to Democratic presidents, Republicans are estimated to add between 0.75% and 1.2% more to the deficit (as a percent of GDP) each year they are in office. This result controls for economic conditions, and explains 75% of the variation in the annual changes to deficits. "...
This kind of lists goes on and on with google search.
Lol, none of your statements make any sense.
Sorry for my language, but:
How in the f***ing h** are you this f***ing stupid.
Like legitimatly.
Do you not see any effects in prices at all for any products?
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@YouFound_Lxam
The only things that make sense to fanchick is WAPO and MSNBC
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@Greyparrot
The Federal Reserve under Jerome Powell has fired the worst inflation since 1982
Yes, former President Donald Trump, who repeatedly pressured and even threatened to fire Federal Reserve Chairman Jerome Powell to continue to keep the interest rates low to aid his re-election campaign. Our high inflation rate is totally Trump's fault. Fortunately, his base are the ones that are suffering.
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@FLRW
It's both their faults. Nobody is innocent.
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@sadolite
The federal reserve's only responsibility is to control the amount of currency in circulation to control inflation based on wealth created
False. Google Federal Reserve to learn about the “dual mandate” and added responsibilities in recent years
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@FLRW
Fortunately, his base are the ones that are suffering.
Yes, SubTeach is finding it hard to make ends meet on his $100 per day earnings - if he works which is a big IF day to day.
Lol, fanchick go brrr.
History would suggest that the party that holds the government hostage and tries to trigger a crisis, is the one that is punished for it. The republicans want to try to stay relevant so every time a democrat is in power they pull this bullshit. But they will have to fold at some point, tanking the economy is not in their (or their rich donor's) best interest.
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@HistoryBuff
History would suggest that the party that holds the government hostage and tries to trigger a crisis, is the one that is punished for it.
This happens a lot of course, and ff you think back to the last time the Democrats used the debt cieling to blackmail a Republican President you will find....that has never happened, this tactic of holding the country's economy hostage to pressure a President is strictly a Republican manuever.
The republicans want to try to stay relevant so every time a democrat is in power they pull this bullshit. But they will have to fold at some point, tanking the economy is not in their (or their rich donor's) best interest.
It amounts to economic terrorism, the Republicans are threatening to destroy our economy, wreck our international credibility, default on our debt and wreck our credit rating, withhold salary from Government Employees (including the Military), withhold social security payments to the aged and disabled, and discontinue critical government services, as a negotiation tactic.
What's next, launching a murderous insurrection and calling it "legitamate political discourse"....oh wait, they already did that too.
And they have the gall to tell us the half percent of the population that wants us to use a different pronoun when we address them is the biggest threat to our country.