The Federal Budget Exercise - How to reduce the deficit/debt (1 Viewer)

[-jb-]

Cross-posting this. Thx @Dinsy Ejotuz

THE CASE FOR PERMANENT STIMULUS

https://www.gc.cuny.edu/CUNY_GC/media/LISCenter/pkrugman/permanent-stimulus.pdf

 

[Dickies]

This is interesting. 

So, not RAISING taxes...merely enforcing the current code.

But how are we going to pay for that extra $20B?

-GOP

 

[Stealthycat]

https://www.cnn.com/2021/08/11/politics/senate-approves-budget-resolution/index.html

Senate Democrats approve $3.5 trillion budget resolution

https://www.cbsnews.com/news/senate-passes-1-trillion-infrastructure-bill/

1 Trillion

https://umdearborn.edu/news/all-news/articles/4-trillion-covid-packages-can-we-really-afford-it

In the past year, Congress has passed more than $4 trillion in spending 

8.5 Trillion in the past year

is nobody paying attention to this ?

 

[KarmaPolice]

I love it when people from either side try to throw out how the other side doesn't care about the deficit and budget.   Hint - neither do anymore it seems, we just get to argue about where it's going I guess.  

 

[Stealthycat]

I love it when people from either side try to throw out how the other side doesn't care about the deficit and budget.   Hint - neither do anymore it seems, we just get to argue about where it's going I guess.  

I 100% agree

Democrats though are driving these trillion in spending and they want trillions more

and its not all infrastructure, its far more than that, its agenda spending 

 

[KarmaPolice]

I 100% agree

Democrats though are driving these trillion in spending and they want trillions more

and its not all infrastructure, its far more than that, its agenda spending 

I keep hearing rumblings like that, but have yet to see an actual breakdown.    Of course part of the bolded comes with the territory of being in power.  

Do you have an actual, decent source that breaks down where the spending is going and what specifically you have issues with?  

 

[Stealthycat]

I keep hearing rumblings like that, but have yet to see an actual breakdown.    Of course part of the bolded comes with the territory of being in power.  

Do you have an actual, decent source that breaks down where the spending is going and what specifically you have issues with?  

I have issues with a 25 trillion dollar deficit and this administration spending trillions more

Of the 3.5 trillion I bet not 1/4 of it goes to infrastructure .... you can google it and see rumors of money being allocated for many many pet projects

when - not if - the United States defaults on its debt, we will see a world economic crash like never see before

 

[Jackstraw]

Still waiting for those tax cuts on the rich to pay for themselves. Any time now….

When the conservatives are in charge again Im all ears. They took tax increases or even more enforcement of existing tax code off the table in the current infrastructure deal. I mean how cynical is impeding the government from enforcing existing tax code? Pro crook as can be. 

 

[The Dude]

Still waiting for those tax cuts on the rich to pay for themselves. Any time now….

When the conservatives are in charge again Im all ears. They took tax increases or even more enforcement of existing tax code off the table in the current infrastructure deal. I mean how cynical is impeding the government from enforcing existing tax code? Pro crook as can be. 

Right.  So even when conservatives want to cry over the deficit of a D admin, they still are at fault.  Fixing the disaster tax code needs to be on the table.  Need more D seats in senate.

 

[Rubiobot]

Right.  So even when conservatives want to cry over the deficit of a D admin, they still are at fault.  Fixing the disaster tax code needs to be on the table.  Need more D seats in senate.

When people like Bezos and Gates pay 3% or 5% in taxes one would think something would be done about it. Similar for giant corporations like Amazon and Walmart paying little to no income taxes. Large corporations, wealthy people and wall street don not pay there fair share and small and medium sized businesses and people doing well but not rich (not to mention lower middle working class and below) are stuck footing the bill. It's a joke.

 

[KarmaPolice]

I have issues with a 25 trillion dollar deficit and this administration spending trillions more

Of the 3.5 trillion I bet not 1/4 of it goes to infrastructure .... you can google it and see rumors of money being allocated for many many pet projects

when - not if - the United States defaults on its debt, we will see a world economic crash like never see before

 Gotcha, so you don't know.     

I would also guess the type of sources where you can get those rumors of pet projects as well.     

 

[Stealthycat]

 Gotcha, so you don't know.     

I would also guess the type of sources where you can get those rumors of pet projects as well.     

if you're googled you've read some on what the bill has in it - it won't be released until it passes through the House right? and there it will be amended/changed 

https://www.cnbc.com/2021/08/09/democrats-release-budget-resolution-as-senate-works-on-infrastructure-bill.html

so yeah, I think the 1 trillion infrastructure was separate - so of the 4.5 Trillion being spent here, less than 1/4 is going to infrastructure

when someone finally gets the thousands of pages typed, it'll be released and we can see the hundreds of millions wasted on pet projects ......... but hey, we're only close to 30 trillion in debt now, we got money to spend, right ?

 

[The Commish]

I love it when people from either side try to throw out how the other side doesn't care about the deficit and budget.   Hint - neither do anymore it seems, we just get to argue about where it's going I guess.  

Its either spending to the rich in the form of tax cuts with no way to pay for them or spending on entitlements, infrastructure and the like. 

Best part of this thread is the people who bump it pretending to NOW be concerned. Give me a break