The Debt Ceiling
supporter
Posted by Hanson (+3210) 10 months ago
Trump ran our economy into the barrow pit. Nearly one-forth of the national debt was incurred during Trump’s four year administration. The huge 2017 tax cuts for millionaires, billionaires and corporations coupled with heavy spending is the reason for the debt he gave us. The irony of this sad fact is the Republicans in the House want to shut down the government rather than raise the debt ceiling to pay our bills already incurred. It’s even more ironic when you realize that without the Trump debt we wouldn’t even hit the debt ceiling during the Biden Administration.

Now the Republican House members want cuts to governmental programs, including Social Security and Medicare, to deal with the crises caused by them. Take a look at your Social Security print out. Mine shows my SSA payments began in 1954. I’m not in the mood for the Republican wing nuts in the House to mess with my earned benefits. If you are, are you also ready to take in and support your parents and/or grandparents?
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+6
supporter
Posted by Karen L. Morris (+2302) 10 months ago
Reply to Hanson (#384010)
As with most things, there is more than one possible solution. My understanding is that, if the 2017 tax cuts that went to the wealthy were reversed, we would have more than enough to meet the debt. I find this approach more to my liking than taking away benefits earned.
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+4
supporter
Posted by Bridgier (+9547) 10 months ago
I assume Biden will simply say that the constitution requires the government to honor it's debts and dare the Supreme Court do say otherwise...
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+1
founder
supporter
Posted by Amorette Allison (+12824) 10 months ago
Republiecans like to welsh on their debts. Look at the Orange One. He never paid a debt.
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+4
supporter
Posted by Robert Martelle (+1310) 10 months ago
The Tax Act of 2017 did not do me any favors. I could not deduct the hail damage from the 2018 storm that was not paid for by insurance as casualty loss since it was not a "presidential declared disaster" I paid a lot out of pocket.

If the Republicans are concerned about wasteful spending, they should look in their own House first. I am tired of receiving mailers from Matt Rosendale which are nothing more than campaign fliers thinly disguised as updates. These fliers are "Paid for with official funds from the office of Matt Rosendale" The last one had the Fox News logo prominently on the first page. It was full of more colored pictures of him than his H.S. yearbook probably had.
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+5
supporter
Posted by tom regan (+3293) 10 months ago
The debt ceiling was passed three times during the Trump years without a peep from the Republicans. Now, when the bills come due from the debt racked up during the last few years to pay for Trump's tax cuts for the wealthy and corporations, the MAGA Republicans are ready and willing to default on our debts. Why? Discuss spending cuts during the budget process, not when it's time to pay the bills.

In fairness, both parties are responsible for the situation we are in with the national debt and budget deficit. The last time the budget was balanced was under Clinton.

"Entitlement" spending needs to be fixed. Get rid of the upper limit for the social security tax. Any income over $142K isn't taxed for Social Security. The changing demographics of our population require that the upper limit be increased. There are not enough workers paying into Social Security to support the increasing number of baby boomers on Social Security. Some of the tax write-offs for corporations and the wealthy are ridiculous. Get rid of corporate subsidies. Corporate profits are at a 75-year high. And the military needs to tighten its belt too.

I don't have a problem with giving support to Ukraine. We just need to ensure that the money is going toward the war effort. The Ukrainians have devastated the Russian military with our help at a fraction of the total military budget. Great bang for the buck. No pun intended.
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+4