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IF we increase our debt limit,

Reading back through this thread I am shocked that there wasn't a Brasky hot take that contained the phrase burn it all down
 
...what's the plan to pay it back?

Does anyone have any clue on what our real plan is repay all this debt? If not, how can we consider borrowing money under those conditions?

In the absence of a plan to repay the loan, is it immoral to do so, or just irresponsible?


Intelligence official warns Trump administration on national debt

By JOSH GERSTEIN 02/13/2018 10:59 AM EST Updated 02/13/2018 12:00 PM EST

Director of National Intelligence Dan Coats used a Senate hearing Tuesday to do something unusual: take a swipe at both the Trump administration and Congress for allowing federal deficits and debt to spiral upward.

Just one day after President Donald Trump submitted a budget that fails to balance spending and revenue in the next decade — and less than a week after Congress struck a spending deal that would drive up the national debt by more than $500 billion — the former Republican senator from Indiana said Washington’s lack of fiscal discipline undermines national security.

"I'm concerned that our increasingly fractious political process, particularly with respect to federal spending, is threatening our ability to properly defend our nation, both in the short term and especially in the long term,” Coats said in his opening statement to the Senate Intelligence Committee.


Coats did not mention specific moves seen as driving up annual deficits, such as a tax bill passed by Republicans along party lines last December and touted by Trump as his administration’s most significant achievement. It is projected to raise the national debt by $1.5 trillion over the next decade.

"The failure to address our long-term fiscal situation has increased the national debt to over $20 trillion and growing,” Coats said. “This situation is unsustainable, as I think we all know, and represents a dire threat to our economic and national security."

Under questioning from Sen. Joe Manchin (D-W.Va.), Coats acknowledged he was breaking with protocol by chiding the administration and Congress over the combined impact of spending and tax cuts.

“I’m getting a little bit out of my lane in terms of what I’m supposed to do,” Coats said. “It is something Congress needs to deal with, and I didn’t want to come back and preach at you."

"Look, I think I have a responsibility to raise this issue because it does affect the military significantly, it affects the intelligence community," Coats said.

Manchin seemed to concur with Coats’ warning about spiraling debt.

“The only thing that seems to be bipartisan is both sides seem to agree on spending more money without any accountability,” the West Virginia Democrat said.

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https://www.politico.com/story/2018/02/13/trump-national-debt-intelligence-officials-407255?cid=apn
 
The federal debt is headed for the highest levels since World War II, CBO says

The 1946 high was prompted by a spending push to fund World War II, and other spikes in the debt have been driven by economic downturns. But the current bump comes amid a relatively healthy economy, suggesting a structural gap between how much the country collects in taxes and how much it spends.

...
The CBO projects the Republican tax law passed last fall will add $1.84 trillion to the federal deficit over the next 10 years. Republican leaders have argued the cuts will jump-start the economy, creating enough economic growth to offset much of the additions to the debt. But CBO and other nonpartisan analysts have repeatedly rejected that claim.

https://www.washingtonpost.com/news...rect=on&sw_bypass=true&utm_term=.0465ce0afb49
 
"Donald Trump: As projected in the FY 2019 budget, Trump plans to add $8.282 trillion, a 41 percent increase from the $20.245 trillion debt at the end of Obama's last budget for FY 2017. If he spends as he hopes, Trump will add the second-highest dollar amount in history. More importantly, he will add almost as much in his first term as Obama did in two terms.

FY 2021 - $1.119 trillion.
FY 2020 - $1,198 trillion.
FY 2019 - $1.225 trillion.
FY 2018 - $1.233 trillion."

Fiscal Conservative outrage...:willynilly:

https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296
 
Aren't those numbers close to double what Obama left behind?

Fiscally responsible Republicans = virgin hookers
 
The Republican party is no longer the party of fiscal responsibility. It's the party of white nationalism. Former debt warriors like jhmd know this and aren't even going to try to defend it. Some of them are coming out of the closet and saying they will vote D to put some oversight on Trump, but plenty have fully consumed the Trumpian koolaid and they just don't care as long as libs are triggered and browns are treated like "vermin".
 
Justin Amash doesn't get to complain about the deficit after voting for the tax bill.
 
Run government like a business. Lower your rates for your richest clients and go further into debt.
 
Wait a minute. Republicans told us that if they cut taxes, the resulting economic growth would pay for the tax cuts. Well we have the cuts and the economic growth, but the deficit continues to grow by leaps and bounds. It makes thinking people wonder, after 30+ years of evidence, if perhaps the Republican strategy doesn't work. The Republicans, however, seem to think that if they cut taxes just one more time, their strategy will begin to work. You have to give them credit. They are persistent.

Next time, we will discuss the primary beneficiaries of the Republican tax cuts. Spoiler: It's not who Republicans say it is.

Developing stories: How Republicans fool America with disingenuous economic policies, Supply Side and Demand Side Economics, and Do Republican Policies drive down wages?
 
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