Trump urges GOP to let catastrophic debt default happen if Dems don’t accept cutsFormer President Donald Trump on Wednesday urged Republican lawmakers to let the United States default on its debt if Democrats don’t agree to spending cuts.“I say to the Republicans out there — congressmen, senators — if they don’t give you massive cuts, you’re going to have to do a default,” said Trump, who is again running for president. “And I don’t believe they’re going to do a default because I think the Democrats will absolutely cave, will absolutely cave because you don’t want to have that happen. But it’s better than what we’re doing right now because we’re spending money like drunken sailors.”When pushed by CNN anchor Kaitlan Collins to clarify his remarks, Trump said: “Well, you might as well do it now, because you’ll do it later. Because we have to save this country. Our country is dying. Our country is being destroyed by stupid people, by very stupid people.”Trump made the remarks during a CNN town hall during which he defended his supporters who staged a violent insurrection at the U.S. Capitol in January 2021 and mocked the writer E. Jean Carroll a day after a jury found him liable for sexually abusing and defaming her.Trump is the leading contender for the 2024 Republican presidential nomination. He would likely look to use a default to his political advantage were he to face President Joe Biden in a rematch next year.His comments came weeks before the U.S. is projected to run out of cash to pay its bills unless Congress addresses the debt limit. Since January, the U.S. government has taken extraordinary measures to avoid default.A default would trigger chaos in markets and result in millions of job losses, according to analysts and economists. Republicans voted to raise the debt ceiling three times during Trump’s presidency.Trump’s words could encourage his many GOP supporters in the House to harden their stance against raising the debt limit without corresponding spending cuts. Biden has said he won’t negotiate over raising the debt limit, although he said he is open to discussing ways to reduce spending in a separate context.Biden and the top four congressional leaders, including Trump supporter House Speaker Kevin McCarthy, R-Calif., will meet again to discuss the debt ceiling on Friday. Treasury Secretary Janet Yellen has said the U.S. government could hit the debt limit as soon as June 1.
Trump urges GOP to let catastrophic debt default happen if Dems don’t accept cuts
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Good
The ball is the Dems’ court. House GOP passed a bill. The Senate and Biden haven’t lifted a finger
Someone is going to cave, but I keep having this recurring fantasy that they don't pass a budget and three letter agencies start collapsing one by one. *shakes head but is left with a wistful smile*
First thing Biden should do is stop Social Security checks to people living in Kentucky, West Virginia and Florida
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@ADreamOfLiberty
That would be awesome if the FBI and CIA were the first to get budget cuts.
[IwantRooseveltagain] First thing Biden should do is stop Social Security checks to people living in Kentucky, West Virginia and Florida
The next thing that should happen after that is a supreme court decision that social security was a fraudulent program now used in the cause of tyranny and any employer who collects it from a paycheck or IRS agent who attempts to demand it is in a state of insurrection against the United States of America.
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@ILikePie5
The bill will not pass the senate and the gop will cave and raise the debt limit
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@ADreamOfLiberty
Yeah good luck with that. Lol
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@Vegasgiants
The bill will not pass the senate and the gop will cave and raise the debt limit
They don’t have time to pass a new bill :)
They don’t have time to pass a new bill :)
Then not one dime to red states!
" let catastrophic debt default happen if Dems don’t accept cuts" Um, that scenario is inevitable regardless. Neither party is addressing the national debt but only adding to it. Govt spending must be cut by 50% across the board to even break even and stop accumulating debt. Both parties are inept incompetent morons kicking the inevitable can down the road. The only half assed reasonable response is to freeze all spending at last years levels for the next 10 years. The days of increasing the debt ceiling are long gone. Anyone who is even the slightest bit intellectually honest would know this. What Congress is doing is criminal. They all should be thrown in prison. And yes, if Trump wins in 2024 and signs a bill to increase the debt ceiling, I want is fucken ass thrown in prison too. There is no money for anything, the country is fucking bankrupt, the country is 32 trillion and debt with an additional 200 trillion in unfunded mandate spending. There is no more fucking money. What part of that is so impossible to understand? Petulant children would do what Congress is doing now, adults would not increase the debt ceiling and cut all govt spending across the board and address the national debt.
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@ILikePie5
They will let that bill die and simply raise the debt ceiling
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@sadolite
The debt causes us no problems
they should just set national spending as a percent of our GDP, so that we're always spending relatively the same.
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@n8nrgim
That's not a bad idea
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@n8nrgim
they should just set national spending as a percent of our GDP, so that we're always spending relatively the same.
Gee, that’s brilliant. So when there’s a recession and GDP contracts, the government will cut government spending, which is part of GDP, thus lowering GDP some more, causing further cuts in government spending.
And the genius Substitute teacher with his 8th grade education agrees with this idea.
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@Vegasgiants
The debt causes no problems. Oh no, of course it doesn't. The govt can run the debt up to infinity and it wouldn't mean anything. Which begs two questions, why the fuck do we pay taxes? Why is govt arguing about debt when its meaningless?
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@Greyparrot
It's how you crash an economy
It's called austerity. It's an alternative to runaway inflation. or runaway debt where the interest payments become too large to cover with additional borrowing.
government spending, which is part of GDP
Government spending isn't production lol. It's reallocating production from A to B.
Government spending reallocates existing production rather than creating new production because government spending typically involves taxing the production of one sector or group of the economy and reallocating them to another less productive sector or group. Government spending always creates winners and losers, and does not create new wealth or production.
And save 10 percent for the Big Guy.
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@sadolite
Well the debt is not at infinity
Can you name a problem the debt has caused you?
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@IwantRooseveltagain
Then not one dime to red states!
If that’s Joe Biden’s offer, he should come to the table and put it.
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@Vegasgiants
They will let that bill die and simply raise the debt ceiling
It’s a passed bill. Senate can’t even pass a clean debt ceiling hike bill. 43 GOP senators have come out against that concept — enough to hold a filibuster.
Biden has three options: propose his own bill with some spending cuts in exchange for debt ceiling, pass the House bill, or default.
The more time passes, the more likely option 2 happens.
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@ILikePie5
Imagine confusing production with redistribution...
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@ILikePie5
Zero percent chance the house bill.passes the senate
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@Vegasgiants
Zero percent chance the house bill.passes the senate
Okay then it’s Option 1 or Option 3. Option 1 is where it’s been at for months now. Where has Joe been?
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@ILikePie5
At the white house where he should be
The debt ceiling debate often has come down to the last minute
Do you think this is the first time?
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@Vegasgiants
At the white house where he should beThe debt ceiling debate often has come down to the last minuteDo you think this is the first time?
Last time this happened, Obama and Democrats caved on a deal. What’s Joe waitin for?
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@ILikePie5
Joe will.make the deal when Joe makes the deal. But we will not default and that house bill is toast
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@Vegasgiants
Joe will.make the deal when Joe makes the deal. But we will not default and that house bill is toast
GOP gets spending cuts, we’re happy. Joe gonna be a loser like Obama