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Post subject: Re: The 46th POTUS - Joseph R. Biden, Jr.
Posted: Thu April 08, 2021 7:30 pm
Mind Your Tanners
Joined: Wed January 02, 2013 6:02 am Posts: 9712 Location: Tristes Tropiques
Who said that debt doesn't matter. Obviously international debt matters. I'm curious as to why it's being perceived as an existential threat.
_________________
VinylGuy wrote:
its really tiresome to see these ¨good guys¨ talking about any political stuff in tv while also being kinda funny and hip and cool....its just...please enough of this shit.
Post subject: Re: The 46th POTUS - Joseph R. Biden, Jr.
Posted: Thu April 08, 2021 7:33 pm
Mind Your Tanners
Joined: Wed January 02, 2013 6:02 am Posts: 9712 Location: Tristes Tropiques
Oh no, not a US political reality that doesn't benefit its own citizens.
_________________
VinylGuy wrote:
its really tiresome to see these ¨good guys¨ talking about any political stuff in tv while also being kinda funny and hip and cool....its just...please enough of this shit.
Post subject: Re: The 46th POTUS - Joseph R. Biden, Jr.
Posted: Thu April 08, 2021 7:37 pm
Mind Your Tanners
Joined: Wed January 02, 2013 6:02 am Posts: 9712 Location: Tristes Tropiques
Now I'm even more confused--because of international debt, China is going to be able to force an IMF-style structural adjustment policy on the US state (assuming we don't adopt all of these austerity measures ourselves, which seems *way* more likely imo), and this will mean....environmental stuff?
_________________
VinylGuy wrote:
its really tiresome to see these ¨good guys¨ talking about any political stuff in tv while also being kinda funny and hip and cool....its just...please enough of this shit.
Post subject: Re: The 46th POTUS - Joseph R. Biden, Jr.
Posted: Thu April 08, 2021 7:37 pm
Production Police
Joined: Tue September 24, 2013 5:56 pm Posts: 47119 Location: In the oatmeal aisle wearing a Shellac shirt
Mickey wrote:
Now I'm even more confused--because of international debt, China is going to be able to force an IMF-style structural adjustment policy on the US state (assuming we don't adopt all of these austerity measures ourselves, which seems *way* more likely imo), and this will mean....environmental stuff?
Post subject: Re: The 46th POTUS - Joseph R. Biden, Jr.
Posted: Thu April 08, 2021 7:40 pm
Mind Your Tanners
Joined: Wed January 02, 2013 6:02 am Posts: 9712 Location: Tristes Tropiques
I think what I'm baffled by here is the idea that these things are somehow not going to happen *anyway*.
_________________
VinylGuy wrote:
its really tiresome to see these ¨good guys¨ talking about any political stuff in tv while also being kinda funny and hip and cool....its just...please enough of this shit.
Post subject: Re: The 46th POTUS - Joseph R. Biden, Jr.
Posted: Thu April 08, 2021 7:53 pm
Future Drummer
Joined: Fri January 04, 2013 1:46 am Posts: 2836 Location: Connecticut
Doesn't China own less than 5% of the debt? Most is owed to us Americans. Also, Ellis' John Oliver comment wasn't a bad one. It meant don't spend it on stupid shit like tax cuts for the wealthy, spend it on infrastructure projects - something that has been shown to be a good investment that ultimately pays for itself.
Post subject: Re: The 46th POTUS - Joseph R. Biden, Jr.
Posted: Thu April 08, 2021 8:15 pm
See you in another life, brother
Joined: Thu December 20, 2012 4:45 pm Posts: 6652
Omg this thread is in my wheelhouse rn and I’ve been stuck in meetings and now have to drive home....
_________________ "I want to see the whole picture--as nearly as I can. I don't want to put on the blinders of 'good and bad,' and limit my vision."-- In Dubious Battle
Post subject: Re: The 46th POTUS - Joseph R. Biden, Jr.
Posted: Thu April 08, 2021 8:52 pm
See you in another life, brother
Joined: Thu December 20, 2012 4:45 pm Posts: 6652
Rob wrote:
Also, Ellis' John Oliver comment wasn't a bad one. It meant don't spend it on stupid shit like tax cuts for the wealthy, spend it on infrastructure projects - something that has been shown to be a good investment that ultimately pays for itself.
This conflates two different issues: (1) taxpayer money can be spent on useful things and it can be spent on stupid things (as an aside, it's always interesting to me when tax cuts are described as a government "cost") and (2) governments can spend money by raising revenue or borrowing.
Of course regardless of the way a government is paying for spending it's better for it to be spent on useful things than on foolish things that help a small group of people at everybody else's expense. But it does not follow that because the spending is on something perceived to be good (putting aside the subjectivity of that) that the accrued debt and consequences of today's spending are irrelevant.
_________________ "I want to see the whole picture--as nearly as I can. I don't want to put on the blinders of 'good and bad,' and limit my vision."-- In Dubious Battle
Post subject: Re: The 46th POTUS - Joseph R. Biden, Jr.
Posted: Thu April 08, 2021 9:02 pm
See you in another life, brother
Joined: Thu December 20, 2012 4:45 pm Posts: 6652
tragabigzanda wrote:
While I generally hold an existential fear of massive US deficits and debt, I do think that Biden's tax plan is positioned to alleviate some of that relatively quickly, on top of returns from stimulus spending. I'm purely spitballing, but I would imagine that their fuzzy math is showing tomorrow's $30T deficit being brought down to $5T within 5-10 years or something.
I'm confused by your last sentence but the administration is claiming that his infrastructure plan will be budget neutral over the next 15 years. (Typically projections are made in 10 year windows, so that's a bit odd but whatever.) Of the massive spending/tax cut bills in the last five years this is, along with the first covid relief bill last year, the most defensible, certainly fiscally. Of course, AoC says it's $7.8 trillion too small and I find that problematic to say the least.
_________________ "I want to see the whole picture--as nearly as I can. I don't want to put on the blinders of 'good and bad,' and limit my vision."-- In Dubious Battle
Post subject: Re: The 46th POTUS - Joseph R. Biden, Jr.
Posted: Thu April 08, 2021 9:12 pm
An enigma of a man shaped hole in the wall between reality and the soul of the devil.
Joined: Tue January 01, 2013 5:13 pm Posts: 39816 Location: 6000 feet beyond man and time.
It speaks to Trump's idiocy (and failure to be the dictator he was accused of being) that he didn't spend on infrastructure. He could have Trump written on every bridge in America right now.
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