Quote:
Originally Posted by SunnySide
But what do you do?
We have to raise the debt limit. This isnt about new spending under President Biden but paying off our credit card debt for purchases we already made.
We cant default ... in this economic climate it might be a disaster. Maybe we could, let the S&P take a huge hit then rich people can swoop in with cash in hand and get richer.
Solution - balance budget going forward? Everything neutral and stop with the "political math" that this bill will pay for itself when the GDP reaches 9.8%
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Yeah, my post was not meant to be about just the Joe Biden administration or saying no to raising the debt ceiling. That would just be all for show, not to actually accomplish anything. This debt has been mounting for a very long time. But we just keep piling on to it. Defaulting is definitely not the solution either. It's absolutely immoral what our "leaders" have done to this country. Both sides.
Balancing the budget should be the start. Not passing bills with tons of extra shit in it should be on the list. Freezing spending increases should be on the list. Cutting spending across the board x% would be a good idea. If everyone had to cut the same amount, no one should be able to complain. And there is no way every government dept. can't find some bloat to chop off. Any budget surplus goes to paying off the debt, it does not get recycled to get spent somewhere else.
There are lots of things that could be done, but instead they just keep spending more than we bring in every year. They just pretend like the money is fake and the debt is imaginary. While us peasants keep getting screwed. It's just not right.