Debt Ceiling Brinkmanship
September 28th, 2021 at 7:37:08 AM permalink | |
AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18136 |
Nope. Tax cuts are not spending. And like Wal-Mart, you get more tax revenue when rates are lower. The President is a fink. |
September 28th, 2021 at 7:55:02 AM permalink | |
rxwine Member since: Oct 24, 2012 Threads: 188 Posts: 18633 |
I know the difference between a tax cut that is paid for and an investment strategy. You don't. You believe in an invisible god, and dismiss people who say they are trans? Really? |
September 28th, 2021 at 8:26:59 AM permalink | |
AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18136 |
Tax cuts do not need to be "paid for." Spending does. You think that the money belongs to the government and they allow you to keep some. I do not. The President is a fink. |
September 28th, 2021 at 9:09:15 AM permalink | |
rxwine Member since: Oct 24, 2012 Threads: 188 Posts: 18633 |
If tax cuts don’t need to be paid for, just refund 100%. You believe in an invisible god, and dismiss people who say they are trans? Really? |
September 28th, 2021 at 8:32:28 PM permalink | |
Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 |
It is political theater. Both sides will agree on essential funding, such as honoring Social Security payments and loan payments. It is only non-essential things that get cut like museums and national parks. Eventually they will break the impasse and agree on increasing the national debt, yet again. Knowledge is Good -- Emil Faber |
September 29th, 2021 at 1:14:07 AM permalink | |
Tanko Member since: Aug 15, 2019 Threads: 0 Posts: 1964 |
The US has had 20 government shutdowns since 1976. The worst S&P loss during a shutdown was 4% in 1977. S&P Performance During Past Four Government Shutdowns 1995 5 days +1.31% 1995 21 days +0,6% 2013 16 days +3.07% 2018 34 days +10.37% “Bitcoin is a limited supply of nothing” - John Paulson The dollar has been gaining strength relative to major foreign currencies, since the start of the year. Bitcoin falls when the dollar increases in value relative to major foreign currencies. |
September 29th, 2021 at 1:54:41 AM permalink | |
OnceDear Member since: Nov 21, 2017 Threads: 11 Posts: 1504 | Like many of you, I shrug and say 'whateva' about the impending shutdown. I get it. It's theatre. But that is not the issue that concerns me. Just a couple of weeks after that, or INTO THAT, we face THE DEBT CEILING issue. That's not about shutdown, that's about default on government bonds. The mere threat of that in 2008 contributed to disaster. But now the threat seems real. If Default comes to pass, it will make 2008 look trivial. It will be default for THE FIRST time ever. And I really do think Mitch and his team will cause default just to kick Biden while he's (shut) down. Then the populace will see the US in tumoil with the Dems at the helm and .... How will that unfold. Hope, I'm wrong. |
September 29th, 2021 at 2:47:48 AM permalink | |
AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18136 |
He can't, Dems run it all. See, the Democrats are afraid of looking like the big reckless spenders they are so do not want to go it alone. Mitch is just making them do so. The Squad may shut it down because they are not getting the socialist conversion they want. The President is a fink. |
September 29th, 2021 at 10:33:22 AM permalink | |
JCW09 Member since: Aug 27, 2018 Threads: 12 Posts: 847 |
Do you believe the Dems will let that happen on their watch? Despite what AMS/Rx have been spouting, the Dems can raise the debt ceiling without a single GOP vote. The Filibuster rules do not stop them from doing this & are irrelevant. The debt ceiling was raised in a similar manner by the GOP in 2003. The GOP passed the partisan 2003 Bush Tax Cuts bill in the Senate by a 50:50 vote with VP casting deciding vote. Then immediately turned to the debt ceiling to fund the bill and raised the debt ceiling without Dem support. They did it because they knew the Tax Cuts were popular and they could defend their votes/bill come 2004 & Bush got re-elected. Dems need to grow a pair, see if they can get their $3.5T Bill passed and then raise the debt ceiling. But they have to own it all. The GOP wants the Dems to have to defend their partisan bill and its inflationary repercussions come 2022 & 2024. GOP will get onboard to pass a debt ceiling increase if it is limited to currently committed spending & the Infrastructure Bill. But Dems want it increased beyond that to fund their $3.5T "We F'd America Better" plan as well. That's a no go for the GOP. So all this Shut Down/Debt Ceiling hand wringing is all much ado about nothing. Ongoing funding gets passed today. The Debt Ceiling will get passed by the Dems alone if they get any of their "We F'd America Better" plan voted on by 50 Senators. Except the Dems don't have the votes for Socialism & Nancy can't hold up the Infrastructure Bill passed Thursday's scheduled vote. So get your popcorn out, should be an interesting finish to the week in Washington. My prediction: 1) Ongoing funding resolution passed today. 2) Infrastructure bill passed on Thursday 3) AOC cries in public for a second week in a row. 4) The "We F'd America Better" Plan is tabled until 2022 5) Nancy & Chuck can claim victory in getting the Infrastructure Plan passed as Trump & Cocaine Mitch couldn't get it done. 6) The House Plant realizes out a good thing happened when he next reads from a teleprompter. Def. of Liar - "A Person Who Tells Lies" / "I lied. Deal with it" - ams288 |
September 29th, 2021 at 5:41:22 PM permalink | |
SOOPOO Member since: Feb 19, 2014 Threads: 22 Posts: 4157 |
Except you don’t have FIFTY votes to nuke the filibuster. Manchin and 50 Repubs vote no. Probably a few more Dem Senators also vote no. |