House passes the bill to suspend the nation's debt limit through January 1, 2025

[placeholder]

18 hours ago, JonnyF said:

I wasn't aware the thread was about the UK or GDP. I thought it was about debt growing under Biden.

 

So back on topic we go...

 

https://nypost.com/2023/02/23/when-it-comes-to-debt-joe-biden-is-the-six-trillion-dollar-man/

 

 

Could be a lot faster if Republicans get their way:

As GOP Aims to Punish Poor, CBO Says Extending Trump Tax Cuts for Rich Would Add $3.5 Trillion to Deficit

Just extending the TCJA's changes to individual income tax provisions would cost almost $2.5 trillion through 2033, according to the CBO and Joint Committee on Taxation. Debt service costs would tack on another $278 billion.

If three other policies—higher estate and gift tax exemptions, changes to the tax treatment of investment costs, and certain business tax provisions—are extended plus debt service costs are included, the total hits nearly $3.5 trillion.

https://www.commondreams.org/news/cbo-extend-trump-tax-cuts

[Tug]

Just passed in the senate done deal once president Biden signs off!

[Kwaibill]

15 hours ago, Tug said:

The difference this time is the republicans were up against a master negotiator this time .not a cartoon pretend (NFT)negotiator lol they got outmaneuvered drawn in then snap!Im telling you you gotta hand it to the old duffer he and (our) team got it done!

Forty plus years experience does count for something, especially one who has admitted past errors.

[nauseus]

2 hours ago, Kwaibill said:

Forty plus years experience does count for something, especially one who has admitted past errors.

and a few slips along the way...

[ozimoron]

12 hours ago, SunnyinBangrak said:

so they were all lies when the left keep saying here that he's "paying down the deficit" then? You don't increase debt when you pay it off.

somehow it didn't matter when it wasn't Biden's deficit. Trump approved 7 debt ceiling increases. This is why the Republicans lost this debate, they didn't have the moral high ground.

[placeholder]

The debt deal limits Pentagon spending. Lawmakers are already figuring out ways around it.

The ink is barely dry on a debt limit deal that constrains Pentagon spending for the next two years, but lawmakers in both parties are already looking for ways to boost funding levels in spite of those caps.

The pact passed the House late Wednesday with the support of most Republican defense hawks, even though the deal caps national defense spending at the administration’s $886 billion proposal for fiscal 2024.

https://www.politico.com/news/2023/06/01/debt-limit-deal-pentagon-budget-00099683

[EVENKEEL]

The DOW swung back a bit, outstanding new jobs report. I can't be the only one waiting for the market to rebound before withdrawing from retirement funds.

[Tug]

15 minutes ago, EVENKEEL said:

The DOW swung back a bit, outstanding new jobs report. I can't be the only one waiting for the market to rebound before withdrawing from retirement funds.

And just think citizen trump was pushing for default.If the republicans would stop supporting so many tax breaks for the wealthy and corporations that would make a huge dent in trumps deficit the lost respect and damage to our alliances will take longer oh well…….

Edited June 4, 2023 by Tug

[Hanaguma]

10 minutes ago, Tug said:

And just think citizen trump was pushing for default.If the republicans would stop supporting so many tax breaks for the wealthy and corporations that would make a huge dent in trumps deficit the lost respect and damage to our alliances will take longer oh well…….

Is it really necessary to refer to Trump in EVERY discussion?  Seriously, the hold he has on some people is truly amazing. It is as if there were no other Presidents before him to think about. History began in 2016. 

 

The deficit is now Biden's. He owns it. He caused a great deal of it. And he intends to keep increasing it. 

[EVENKEEL]

25 minutes ago, Tug said:

And just think citizen trump was pushing for default.If the republicans would stop supporting so many tax breaks for the wealthy and corporations that would make a huge dent in trumps deficit the lost respect and damage to our alliances will take longer oh well…….

I could give a fork what trump says, he's not president. i just want my money.

[placeholder]

9 minutes ago, Hanaguma said:

Is it really necessary to refer to Trump in EVERY discussion?  Seriously, the hold he has on some people is truly amazing. It is as if there were no other Presidents before him to think about. History began in 2016. 

 

The deficit is now Biden's. He owns it. He caused a great deal of it. And he intends to keep increasing it. 

Really? What kind of government do you think the US operates under? Do you actually believe that Congress shares no responsibility for deficits? Maybe you're in possession of an alternative version of the Constitution? 

[Tug]

24 minutes ago, Hanaguma said:

Is it really necessary to refer to Trump in EVERY discussion?  Seriously, the hold he has on some people is truly amazing. It is as if there were no other Presidents before him to think about. History began in 2016. 

 

The deficit is now Biden's. He owns it. He caused a great deal of it. And he intends to keep increasing it. 

Hummm…….deficits………trump………ahh yup in the context of the deficit yup 100% and yes you are 100% correct it is president Biden’s responsibility further more he DOES take responsibility not like the former guy and I might add any incurred debt under Biden benefits the American people and nation not the top 1% and corporations.Yes you are 100% correct many Americans are deeply concerned about the grievous damage trump has done to the nation and the world I would also say when uncomfortable truths are exposed some here go straight to it’s always about trump trope 

[Hanaguma]

1 hour ago, placeholder said:

Really? What kind of government do you think the US operates under? Do you actually believe that Congress shares no responsibility for deficits? Maybe you're in possession of an alternative version of the Constitution? 

True, and the Democrats controlled congress from 2018 to 2022.  So, Biden's first 2 years he had a Democratic congress.  So I guess he can share the responsibility with Nancy Pelosi if you like. 

[Hanaguma]

1 hour ago, Tug said:

Hummm…….deficits………trump………ahh yup in the context of the deficit yup 100% and yes you are 100% correct it is president Biden’s responsibility further more he DOES take responsibility not like the former guy and I might add any incurred debt under Biden benefits the American people and nation not the top 1% and corporations.Yes you are 100% correct many Americans are deeply concerned about the grievous damage trump has done to the nation and the world I would also say when uncomfortable truths are exposed some here go straight to it’s always about trump trope 

See above re control of congress. 

[placeholder]

18 minutes ago, Hanaguma said:

True, and the Democrats controlled congress from 2018 to 2022.  So, Biden's first 2 years he had a Democratic congress.  So I guess he can share the responsibility with Nancy Pelosi if you like. 

But you claimed that Biden is responsible for the deficit. (By the way, which deficit year are you referring to?) Now you're conceding that it's a shared responsibility. Or is it only shared by Democrats, not Republicans?

[Hanaguma]

29 minutes ago, placeholder said:

But you claimed that Biden is responsible for the deficit. (By the way, which deficit year are you referring to?) Now you're conceding that it's a shared responsibility. Or is it only shared by Democrats, not Republicans?

Biden can own 2021 onwards.  He had the Congress and the White House. 2.8 trillion in 2021, 1.4 trillion in 2022 (less Covid spending) , ytd in 2023 nearly a trillion.  

 

If you insist on the inevitable comparison to the Bad Orange Man, Trump also ran stupid high deficits. To repeat, I am no fan of his fiscal policy.  So if you are content that Biden is merely following Trump's tradition of overspending, I am happy for you.  I say a pox on both, but especially Biden because he is the current president and did nothing to stop the overspending.

[placeholder]

Just now, Hanaguma said:

Biden can own 2021 onwards.  He had the Congress and the White House. 2.8 trillion in 2021, 1.4 trillion in 2022 (less Covid spending) , ytd in 2023 nearly a trillion.  

 

If you insist on the inevitable comparison to the Bad Orange Man, Trump also ran stupid high deficits. To repeat, I am no fan of his fiscal policy.  So if you are content that Biden is merely following Trump's tradition of overspending, I am happy for you.  I say a pox on both, but especially Biden because he is the current president and did nothing to stop the overspending.

Just a comment ago you were celebrating the utopia that American enjoyed under the Trump presidency. Now you're singing a different tune.

[ozimoron]

3 hours ago, EVENKEEL said:

The DOW swung back a bit, outstanding new jobs report. I can't be the only one waiting for the market to rebound before withdrawing from retirement funds.

Thank your lucky stars that the US didn't default then or you'd have been waiting a little longer.

[heybruce]

7 hours ago, Hanaguma said:

Biden can own 2021 onwards.  He had the Congress and the White House. 2.8 trillion in 2021, 1.4 trillion in 2022 (less Covid spending) , ytd in 2023 nearly a trillion.  

 

If you insist on the inevitable comparison to the Bad Orange Man, Trump also ran stupid high deficits. To repeat, I am no fan of his fiscal policy.  So if you are content that Biden is merely following Trump's tradition of overspending, I am happy for you.  I say a pox on both, but especially Biden because he is the current president and did nothing to stop the overspending.

The FY 2021 budget was approved when Trump was in office.  Biden can only claim FY22 and after.

[EVENKEEL]

7 hours ago, ozimoron said:

Thank your lucky stars that the US didn't default then or you'd have been waiting a little longer.

It's nothing but a dog and pony show everytime.

[nauseus]

18 hours ago, Tug said:

Hummm…….deficits………trump………ahh yup in the context of the deficit yup 100% and yes you are 100% correct it is president Biden’s responsibility further more he DOES take responsibility not like the former guy and I might add any incurred debt under Biden benefits the American people and nation not the top 1% and corporations.Yes you are 100% correct many Americans are deeply concerned about the grievous damage trump has done to the nation and the world I would also say when uncomfortable truths are exposed some here go straight to it’s always about trump trope 

Right. Is that why the uncomfortable truth is that Joe is so very popular right now. Not.

 

https://projects.fivethirtyeight.com/biden-approval-rating/

[ozimoron]

26 minutes ago, nauseus said:

Right. Is that why the uncomfortable truth is that Joe is so very popular right now. Not.

 

https://projects.fivethirtyeight.com/biden-approval-rating/

Your link shows that Biden is slightly more popular than Trump was at this stage of his presidency.

 

The WPA Intelligence survey of 1,571 registered voters found Biden, 80, leading 76-year-old Trump 47% to 40%. By comparison, Biden defeated Trump by 4.5 percentage points in the 2020 popular vote, while former President Barack Obama won re-election over Republican Mitt Romney by 3.9 percentage points in 2012

 

https://nypost.com/2023/05/17/biden-up-7-points-against-trump-in-2024-election-poll/

Edited June 5, 2023 by ozimoron