Adverting a Government Shutdown

[Laodicean60]

Does anyone wonder why we are hearing so much about the spending bill and government shutdowns? We can't afford to spend 1 Trillion dollars a year without going broke. Whether you are a Republican or Democrat our spending will affect Americans as a whole.

Lawmakers will return to Washington with just 11 days to avert a shutdown. No fix is yet in sight.

Lawmakers will return to Washington Monday for another confrontation over spending that could prove to be the most complicated shutdown fight yet.

finance.yahoo.com

This spending is unsustainable.

The Nation's Fiscal Health: Road Map Needed to Address Projected Unsustainable Debt Levels

The federal government faces an unsustainable fiscal future. If policies don't change, debt will continue to grow faster than the economy. Our review...

www.gao.gov

 

[Desk trauma]

Does anyone wonder why we are hearing so much about the spending bill and government shutdowns?

No, I don't wonder why I am hearing about it I know: because the Republicans don't hold the white house.

 

[durangodawood]

No, I don't wonder why I am hearing about it I know: because the Republicans don't hold the white house.

This is true.

Whenever an R gets in the White House the rest of Rs throw austerity out the window. They dont want their president to absorb the political hit.

We have to go back to the Clinton admin to see any decline in debt.

 

[Laodicean60]

No, I don't wonder why I am hearing about it I know: because the Republicans don't hold the white house.

Do you think both parties are spending too much?

 

[Laodicean60]

We have to go back to the Clinton admin to see any decline in debt.

True.

 

[GoldenBoy89]

Do you think both parties are spending too much?

I don’t know if we spend too much as a country but I think our problem is what we prioritize. We have no shortage of money for war but help people climb out of poverty, debt or to see a doctor without breaking the bank and suddenly there’s pennies to pinch.

 

[durangodawood]

Do you think both parties are spending too much?

I do think that.

But R's seem to compound the problem by also piling on huge tax cuts for very rich people. They always promise those will deliver a net revenue increase, but it never seems to happen. Instead they drive up the deficit even higher.

 

[Desk trauma]

Do you think both parties are spending too much?

I think the Democrats have a better record in practice despite the rhetoric.

 

[Laodicean60]

I don’t know if we spend too much as a country

The way I see it is in government debt. and countries can go broke.

 

[Hans Blaster]

Does anyone wonder why we are hearing so much about the spending bill and government shutdowns? We can't afford to spend 1 Trillion dollars a year without going broke. Whether you are a Republican or Democrat our spending will affect Americans as a whole.

What are you talking about? The Federal budget for last year was over $6 Trillion spent and over $4 Trillion in tax revenue. Cutting the budget to a mere $1 T would be a drastic reduction in expenditure. (And the economy seems just fine with $4 Trillion removed in tax revenue, so that is no barrier.)

 

[wing2000]

This spending is unsustainable.

As is the GOP position: Accept our plan or else....

 

[Laodicean60]

What are you talking about? The Federal budget for last year was over $6 Trillion spent and over $4 Trillion in tax revenue. Cutting the budget to a mere $1 T would be a drastic reduction in expenditure. (And the economy seems just fine with $4 Trillion removed in tax revenue, so that is no barrier.)

The higher the debt the higher interest payments on the debt. High interest makes these payments increase, also if we have a recession tax revenue will decrease. The more you pay on interest the less the government can spend on entitlements and defense. The government has borrowed money to make up for budget deficits which adds to the debt. Eventually, the debt will be so high that most money will be used to service the interest and little for entitlements.

All this will affect our kids and grandkid's future. Maybe my entitlements

 

[Hans Blaster]

The higher the debt the higher interest payments on the debt. High interest makes these payments increase, also if we have a recession tax revenue will decrease. The more you pay on interest the less the government can spend on entitlements and defense. The government has borrowed money to make up for budget deficits which adds to the debt. Eventually, the debt will be so high that most money will be used to service the interest and little for entitlements.

All this will affect our kids and grandkid's future. Maybe my entitlements

So you may have missed it, but the recession didn't happen and interest rates are starting to go down (slightly). I am aware of how higher interest rates impact the payment of the debt.

 

[Laodicean60]

So you may have missed it, but the recession didn't happen and interest rates are starting to go down (slightly). I am aware of how higher interest rates impact the payment of the debt.

Can you promise me interest rates or recessions won't happen in the future?

 

[Hans Blaster]

Can you promise me interest rates or recessions won't happen in the future?

Nope, but the economists promised us a recession in 2023 and it didn't happen. Are they predicting one now?

 

[Tuur]

So you may have missed it, but the recession didn't happen and interest rates are starting to go down (slightly). I am aware of how higher interest rates impact the payment of the debt.

Quibble: Hasn't happened. I saw this show in the 1970s and 1980s. Recessions will come despite the best schemes of economists who promise a soft landing.

 

[Nithavela]

Can you promise me interest rates or recessions won't happen in the future?

You'll get a recession once the next GOP president is in the white house.

 

[Tuur]

Nope, but the economists promised us a recession in 2023 and it didn't happen. Are they predicting one now?

If they knew precisely when to buy low and sell high, they'd be billionaire investors, not economists. This non-economist says that a recession will come at some point, but I have no idea when, and I suspect neither do they.

 

[Laodicean60]

Nope, but the economists promised us a recession in 2023 and it didn't happen. Are they predicting one now?

Mixed signals. But recessions some say come in cycles.

 

[Laodicean60]

You'll get a recession once the next GOP president is in the white house.

After the 2024 election ok. That's your prediction. How's your recession going right now?