Here comes the debt ceiling exploding
Thursday, 13 Mar 2025
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That’s fine if there’s a money printer in the basement.
Imagine you’ve spent money already, but decide not to pay it – that’s what happens if we don’t raise the debt ceiling. The time to debate is when you spend the money, not when you get the bill.
Imagine being so stupid that you think that the government operates anything remotely similar to a private household.
This is as bad as those morons who scream “the postal service doesn’t make money!”
Except you can make infinite money and no one can repo your property.
If you conflate international economics with personal economics your highly regarded.
Spend more in hopes of growth, which is what Damn near every business does and it works.
Congress: we need to do something about the national debt.
Also congress: how about we drop taxes/revenue and we print more money?
Congress: wow give that guy a raise.
Imagine comparing a whole ass country to a household…
Most conservative post on here I have ever seen lol
Well, look at all these amateur economists basically parroting Friedman talking points decades out.
Just one more round of austerity will fix it, I swear.
Fun fact: Thatcher’s miracle recovery was due to the discovery of oil on the the North Sea and a publicly own oil and gas company. The privatisation that was going on around it was a massive coincidence.
I understand inflation, but can’t we just freeze budgets at last years budget levels?
The way I understand the mentality that exists in budget settings is, it is “you can’t have a budget increase next year if you don’t spend all of your budget this year”. As opposed to, “alright guys, we need to plan for less bombs in the budget this year”.
The perpetual growth mentality seems disorderly to me. Shouldn’t sustainability be the goal? Is my reasoning too rational or just too dumb?
Congress should only be able to spend what it brings in via taxes.
I think the Democrats should be willing to out cuts on the table when the Republicans come talking about the debt. However, they should say for every dollar cut, they want at least $4 or so in revenue. Largely from taxes on the wealthy and corporations.
We have to acknowledge that one, we can’t cut our way to a balanced budget, nor can we tax our way there either….. at least not without an overwhelming majority.
This way they could argue they bargained in good faith. It’s a tough sell to those programs affected obviously. But, neither side wants to touch the camouflaged elephant called the military.
the debt ceiling they talk about means ABSOLUTELY nothing. It’s solely a convenient way for republicans to hold everything up and pretend to care about the debt. The debt rose more under republican presidents than democrats, just a fact. They never care about raising it under republican presidents, only when a democrat is in office
way too late for your hindsight
By 2028 a quarter of our spending will go to paying off the interest on our debt.
Unless the Amashes of the world call for slashing Pentagon spending, don’t wake me up.
If I were to be living month to month, had already reviewed my expenses and cut down unnecessary spending, I would look for ways to increase my income. Why do so many politicians keep talking about cutting spending, but not at all talking about increasing income, like making corporations or billionaires pay their fair share?? Both should be discussed.
Imagine being dumb enough to think a household budget is an appropriate analogy for government expenditure.
A government is not a household x 9999999999999999999
I always hate this stupid household debt comparison. My house hold doesn’t print the world reserve currency or have a fleet of nuclear powered airfields to enforce it.
Yay!
Imagine you and your spouse are spending a third of your income on guns and defending your house, then complaining that there’s not enough money for everyone to eat or go to the doctor… that’s the United States right now.
Now imagine that you and your spouse keep taking lower paying jobs, or one quits altogether, and are hugely in debt from under-earning.
Personal finances =/= microeconomics =/= macroeconomics =/= controlling fiat currency that runs the global economy.
The more poignant comparison to a household would be: Imagine you & your spouse feel there isn’t enough room in your house and you are expecting another child, so you call a meeting & agree to invest in a large house. That’s Congress, building a larger economy for the larger society with more commerce.
Or, even more accurately: Imagine you & your spouse have $5,000 monthly income but a credit card with a $100 limit. You are sick of paying off the credit card every day since it is convenient to use and you have plenty of income, so you request a credit limit increase to $200. Now, if you do the math, you could use that $200 limit every day and overspend your $5,000 income every month, going deeper into debt – OR you could have a $5,000 limit on your credit card and budget yourself appropriately. But you will never buy a car or a house or an education with that limit, so eventually debt is the tool to generate more income. That’s Congress.
What’s even more stupid, one says I’m going to quit my job (cut taxes) because that will bring in more money.
Comparing home economics to a National Treasury is like comparing parallel parking to landing on The Moon.
“Actually this is good, but it’s someone else’s fault, and that’s just the way it is, and you don’t know how money really works, and you just want socialism, are we just gonna not pay it?” The comments here on every post pointing out problems.
One flaw just a minor one, ummm, when average people don’t have money or they run out, they just can’t spend anymore and get nothing.
We’re also going to agree to cut our paychecks.
My wife and I’s overspending is not the only thing keeping the American private sector in the black.
Also, the spouse who makes much more money than the other is going to make a massive cut in their contribution to the household expenses.
*laughing in bankruptcy*
Let’s not forget they also love taking lower paying jobs (tax cuts)
We keep electing them in because everyone wants free stuff from the government and not pay taxes.. until we as a country change our attitudes, nothing will change
Great analogy
Democrats should shut it all down.
Because why not?
If you know that now then Let’s get rid of Congress
We’ve got the “tax and spend” Democrats and the “No tax and spend Republicans.” Neither are willing or capable of gaining control of deficit spending.
Seems the conservatives have no clue how to honor those campaign promises of balanced budgets and then deliver them while keeping the donors who own them happy with tax cuts.
It’s not a formula for success. But I reckon economic success is not the goal, staying in power is.
Almost as dumb as comparing household finances and macroeconomics
Or take on the debt then say nope not going to make the payments
The debt limit would be like deciding to not pay your bills because u hit an arbitrary number in ur budget. What’s done is done. Not paying would be worse
Cutting the military budget is somehow never an option.
Let us not act as though this is new, or indicative of one party or another…. OP meme is straight, it is Congress.
Well they can’t very well stop eating now can they?
With trump’s backing!