What do octogenarians care about running up the bill. They know they'll never have to deal with it

Here's whats going to happen: Democrats will push to raise the debt ceiling to "save grandma." Republicans will pretend to fight back, and maybe get some token concessions on future spending. No actual cuts, just reductions in the future growth.

They will then act like they're being fiscally responsible and end up voting to raise the debt ceiling with only a handful of reps holding out. Rinse, repeat until the collapse.

SW-14 said:

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Here's whats going to happen: Democrats will push to raise the debt ceiling to "save grandma." Republicans will pretend to fight back, and maybe get some token concessions on future spending. No actual cuts, just reductions in the future growth.

They will then act like they're being fiscally responsible and end up voting to raise the debt ceiling with only a handful of reps holding out. Rinse, repeat until the collapse.

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exactly what has been happening

but when the collapse comes, the millenials are going to be in for a very rude awakening as their retirements will become both dismal and dystopic

It's funny. If I don't pay my bills, services get cut off, cards get cancelled, and I get evicted.

Why can't it work that way with our government?

SW-14 said:

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Here's whats going to happen: Democrats will push to raise the debt ceiling to "save grandma." Republicans will pretend to fight back, and maybe get some token concessions on future spending. No actual cuts, just reductions in the future growth.

They will then act like they're being fiscally responsible and end up voting to raise the debt ceiling with only a handful of reps holding out. Rinse, repeat until the collapse.

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Interview with McConnell basically just confirmed this not that this is a surprise. He said we won't default...never have; never will...and that they will negotiate a few things out of it and move on.

1939 said:

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TxTarpon said:

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But we were told that we were unpatriotic for not wanting to spend $2 trillion in debt spending to save the islamic republics of Afghanistan and Iraq.

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Why does your graph end in 2008?

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Still counting ballots.

LMCane said:

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No Spin Ag said:

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will25u said:

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TexAgs91 said:

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Well at least this country will never be bankrupt. We'll just keep raising the debt limit.

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Must be nice. Out of money on your credit card? Just wave your hand and you get a bigger limit!

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No one ever said Washington was full of fiscally responsible people, at least when it comes to them getting theirs anyway.

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once the world moves away from the US Dollar as reserve currency

ballgame over

then it's Zimbabwe time.

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Which makes it crazy the rabid greenies are pushing this agenda. Oil and gas are very important to this equation.

Manhattan said:

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The bigger issue is that we don't have much to show for the debt, we have crumbling infrastructure, water, power, highways, …… .
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This needs to be repeated, A LOT.

Corrected for clarity

Manhattan said:

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The bigger issue is that we don't have much to show for the debt, we have crumbling infrastructure, water, power, highways, almost no HSR.

We should spend an additional 5% of GDP every year on infrastructure.

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You believed Obama's shovel ready jobs comment? All of that money was pumped into allies to send back to the DNC.

Maroon Dawn said:

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What do octogenarians care about running up the bill. They know they'll never have to deal with it

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I am not yet an octogenarian, only 71, but I care and am doing my best to leave a comfortable inheritance to my children so they have a fighting chance to survive.

Most politicians know they have a blank check on our descendants.

Manhattan said:

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The bigger issue is that we don't have much to show for the debt, we have crumbling infrastructure, water, power, highways, almost no HSR.

We should spend an additional 5% of GDP every year on infrastructure.

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You had me until HSR. That is wasteful expense and unnecessary. Agree with everything else.

Cromagnum said:

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It's funny. If I don't pay my bills, services get cut off, cards get cancelled, and I get evicted.

Why can't it work that way with our government?

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Too many ignorant voters being lied to by politicians and the MSM.

YouBet said:

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fixer said:

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Mmt says there is no actual debt limit as long as the mechanics of taxation stay in place.

Lmao.

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I was going to say there is no debt limit, in effect. They vote to raise it every time we hit it so what's the f'ing point of it all?

The annual debt limit crisis is 100% theater....until suddenly it's not.

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As long as there is ability to create new money backed by ability to tax, there is effectively no limit.

It is a laughable concept but one our government and many others use.

It is a sham.

Cromagnum said:

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It's funny. If I don't pay my bills, services get cut off, cards get cancelled, and I get evicted.

Why can't it work that way with our government?

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because when you are the world's reserve currency-

you can just keep printing presses going 24 hours a day.

the only problem becomes once you are NOT the world's reserve currency.

richardag said:

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Maroon Dawn said:

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What do octogenarians care about running up the bill. They know they'll never have to deal with it

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I am not yet an octogenarian, only 71, but I care and am doing my best to leave a comfortable inheritance to my children so they have a fighting chance to survive.

Most politicians know they have a blank check on our descendants.

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if this comes to pass when the system breaks- the million dollars you give your children will be worth about $50,000.

Debt at that scale represents a cultural malfunction. We are irresponsible idiots grasping for gratification.

Good, now stop paying Congress and the White House till they have a solution for this. I know most of them are millionaires and they don't care.

TAMU1990 said:

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Manhattan said:

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The bigger issue is that we don't have much to show for the debt, we have crumbling infrastructure, water, power, highways, almost no HSR.

We should spend an additional 5% of GDP every year on infrastructure.

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You believed Obama's shovel ready jobs comment? All of that money was pumped into allies to send back to the DNC.

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They were as real as "infrastructure week"

Good thing $31 trillion is only worth $21 trillion today. Some (d)ems might even argue they have made us $10 trillion.