Seoulbro how will the rising US deficits affect us?

[JOE]

....and how can we prepare/shield ourselves from the fallout should the worst happen?

[Anonymous]

....and how can we prepare/shield ourselves from the fallout should the worst happen?

[cc]

Joe Thread Starter already basically asked this very question in another thread .. . then starts a thread to ask the same damned thing



Also Soeul has a money thread at the top



No other member would pull such crap nor would they start threads the way this jerkoff does

[Wazzzup]

https://image.ibb.co/nrYgpU/simple_joe.png">

[Anonymous]

Joe Thread Starter already basically asked this very question in another thread .. . then starts a thread to ask the same damned thing



Also Soeul has a money thread at the top



No other member would pull such crap nor would they start threads the way this jerkoff does

I'll ask Seoul if he wants this merged with his stickied thread.

[Anonymous]

Joe Thread Starter already basically asked this very question in another thread .. . then starts a thread to ask the same damned thing



Also Soeul has a money thread at the top



No other member would pull such crap nor would they start threads the way this jerkoff does

I'll ask Seoul if he wants this merged with his stickied thread.

If you guys want it moved, go right ahead. I don't care.

[Anonymous]

....and how can we prepare/shield ourselves from the fallout should the worst happen?

[Anonymous]

Why should I waste my time responding when you ignore what I write. I have explained many times that congress not the white house controls spending, but you ignore it. I have explained before how American debt is different than any other country's debt, but I am certain you ignored that too. So, I am going to return the favour and ignore you.

I'm a little curious Seoul, is American public debt a problem for just them or us too?

[Anonymous]

Why should I waste my time responding when you ignore what I write. I have explained many times that congress not the white house controls spending, but you ignore it. I have explained before how American debt is different than any other country's debt, but I am certain you ignored that too. So, I am going to return the favour and ignore you.

I'm a little curious Seoul, is American public debt a problem for just them or us too?

I don't feel like going into depth explaining anything in a Joe troll thread. But, in short, the main long term consequence of American government debt is on the Social  Security Trust Fund(internal). A side consequence is higher interest rates and that will hurt Canadians a lot more than Americans. We have the most indebted consumers in the G20.

[Bricktop]

All debt is a problem. The entire global financial system is effectively a Ponzi scheme.

[JOE]

....and how can we prepare/shield ourselves from the fallout should the worst happen?

[Anonymous]

I didnt respond earlier because i wanted time review your assertions.



Yes, while it is the Congress which passes the spending bills, i don't agree with your premise that the President has nothing to do with initiating or shaping budget policy. Presidential candidates whether they be Democrat or Republican certainly have campaigned with promises to increase or cut incone taxes of various income groups. Reagan did so in in 1980 and Clinton did in 1992. Bush did so in 2000. And the debate among his successor, Barack Obama, was whether to extend or end the 'Bush Tax Cuts'.



Presidents are not passive bystanders who have nothing to do with setting the agenda. And they have at least some veto power to override what Congress passes if they dont agree with the spending bills which are passed by that legislative body.



So to respond to your premise, I think its rather simplistic to suggest that Presidents dont set fiscal policy and have nothing to do with its outcome. Of course they do. Otherwise there wouldnt be any point in having a President.

Seoul never said the president had nothing to do with tax cuts, he said congress has the final say on budgets..



He said the president can propose spending increases or cuts, but the congress decides how much money is spent..



I got it the first time he said it, but you don't after what six times or is it more.

[Anonymous]

Why should I waste my time responding when you ignore what I write. I have explained many times that congress not the white house controls spending, but you ignore it. I have explained before how American debt is different than any other country's debt, but I am certain you ignored that too. So, I am going to return the favour and ignore you.

I'm a little curious Seoul, is American public debt a problem for just them or us too?

I don't feel like going into depth explaining anything in a Joe troll thread. But, in short, the main long term consequence of American government debt is on the Social  Security Trust Fund(internal). A side consequence is higher interest rates and that will hurt Canadians a lot more than Americans. We have the most indebted consumers in the G20.

I don't blame you. Old Joe aint listening.  He still thinks there's a political right in Canada and the US. ac_lmfao



Presidents don't pass budgets, Congress does. Democrat and GOP congresses own deficits, not presidents. It's different in Canada where the pm is head of the lower house and is directly responsible for all federal spending and deficits. Medicare/Medicaid spending expanded under Bush and exploded Obama. Congress only wants to keep increasing that, deficits be damned.

[Wazzzup]

I doubt this is a serious thread, I think Joe is just trying to troll, and backhand slap trump and the deficits under him (of course Joe never a cared at all about the Obama eras worst deficits in history, deficits only suddenly matter now)



Joe will ignore this like he does all information contrary to his views, but here it is anyway--



The republican congress during the obama era wanted to cut spending, but democrats threatened to "shut down" the government if they didn't get their big spending.  The repubs knew that the media would blame them and they might suffer politically so they backed down.



More or less the same thing happened with trump.  Trump wanted a leaner budget, and even threatened to veto two budgets, but once again the democrats threatened a shutdown and the republicans begged trump not to veto these budgets. especially the most recent one near an election .  So while all are at fault here, the democrats own most of it.



But at least with deficits occurring during Trump's presidency we are getting something back for it - large economic growth and the best unemployment numbers in the last 60 years.  with the Obama era deficits (the worst of any president) we got absolutely nothing for it.

[Anonymous]

^^I don't take this thread seriously and I won't respond to Joe in it  directly.



Really, the only good congress since 1980 was when the GOP swept both houses in 1994. Newr Gingrich was the best PM(Speaker of the House is  essentially a prime minister) the USA has had in a very long time. The same can't be said of Bill Clinton, who benefited greatly from a conservative Congress that curbed his worst instincts.



Almost two-thirds of federal spending pays Social Security, Medicare, and Medicaid benefits. These are part of mandatory spending. Those are programs established by prior Acts of Congress. The mandatory budget will cost $2.739 trillion in FY 2019. It's skyrocketing because more baby boomers are reaching retirement age. By 2030, one in five Americans will be older than 65.



The remaining 38 percent of the budget pays for everything else. It's called discretionary spending. The U.S. Congress changes this amount each year. It uses the president's budget as a starting point. Any cuts to  reach a balanced budget must come from there, but the congressional GOP caucus and especially the Democrats in congress only want spending to increase. Hence, no balanaced budgets in the USA anymore.