Deficit and Debt Ceiling

Basic of the deficit, debt and debt ceiling

Category:

Education

Tags:

• debt
• ceiling
• finance
• deficit
• economics

[happystance9able]

Before talking about the debt ceiling it's important to realize the difference between reality and Leftist rhetoric. In reality, what Leftists and duped moderates call the "debt ceiling" isn't a ceiling at all. Ceilings impose limits on how high something can go. The "debt ceiling" has NEVER done that. Rather, what Leftists call the "debt ceiling" is really a DEBT TARGET. It's a level of debt Leftists aim for as they pursue their endless spending. Once reached, they set a new, higher TARGET.

[apricotsnms516]

Sal for president!!!

[phonesplanet]

worth watching video...

[DChuck0855]

Eewwerqww

[happystance9able]

@waxrock >>a direct consequence of Reagan's bank deregulation<<

Again, what you believe is the direct opposite of the truth as evidenced by this video:

watch?v=_MGT_cSi7Rs

There, you can see socialist Democrats in 2004 attacking Bush regulators who sought to imposed sensible restrictions on lending practices. Socialist Democrats are seen there leading the crusade for lax lending standards. Clinton's Justice Department literally forced lenders to make bad loans to Democrat-constituent groups.

[happystance9able]

@waxrock >>democrats did spend a lot...That's what you're supposed to do to fight the recession<<

That statement runs counter to all evidence. It's an assertion first made by Herbert Hoover; the first president who thought his job was to control the economy through fiscal policy. But history shows our deepest and longest recessions to be those our politicians did the most tinkering with. Reagan debunked your fraud during the 1987 crash. He left things alone and it came and went quickly.

[waxrock]

@happystance9able You do realize those percentage increases were the result of conservative policies...? '07 was the start of the mortgage crisis which was a direct consequence of Reagan's bank deregulation. And you know what happens when the economy takes a nosedive? Fiscal policy. So, yeah, democrats did spend a lot during '07 and onwards. That's what you're supposed to do to fight the recession. Can't say Bush had to go through the same troubles though.

[happystance9able]

@happystance9able >>That rate of growth increased 31.6%<<

Correction: it increased TO 31.6% under the strong influence of socialist-Democrat policies--including Bush "abandoning capitalism to save capitalism". It had previously decreased to 2.2% under Bush's earlier, pro-capitalist policies.

[happystance9able]

After the Bush '03 tax cuts, the 4-year rate of growth of the national debt as %GDP was nearly halved; from 5.2% over the period of 2000-2003 to 2.2% over the period from 2003-2006. That rate of growth increased 31.6% (!!!) once Democrats took total control of Congress in 2007. Socialists are defined in part as people to whom such facts don't matter. They are people on a stupid ego trip and have no interest in reality. I can't fix stupid. Stupid is as stupid does. O-bots will do as they do...

[happystance9able]

@waxrock In stark contrast to the reduced, 2.2%-GDP 4-year increase in debt following the Bush tax cuts, socialist Democrats taking total control of both houses of Congress in '07 and then also the White House in '09 resulted in a 4-year national debt increase of 31.6% GDP; from 64.8% in 2007 to 93.4% in 2010. Congress controls the purse strings to the Treasury; not the President. From all this, it's obvious to anyone with a functioning brain how socialism does harm while conservatism does good.

[happystance9able]

@waxrock >>Conservative policies...a mitigating factor in debt?<<

Yes. After Bush's '03 capital gains tax cuts, the national debt only increased 2.2% of GDP over 4 years; from 61.8% in '03 to 64% in '06. That was a tremendous improvement over the previous four-year increase in debt of 4.2% from 57.6% GDP in 2000 to 61.8% in '03. So yes, it's clear to anyone with a functioning brain that conservative policies mitigate the harm socialists cause.