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Old December 3rd, 2017, 12:28 PM   #11
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Originally Posted by Quigley View Post
True, but it's part of the show. While the deficit is bad, it's the debt that will kill us. People need to understand that EVERY dollar in circulation is a loan from the Fed at interest. I wish I could say that I have never seen anyone type or say "The United States can never default, we can just PRINT the money we need". That is a sad state of affairs.
Yes, the US can default, depending on the terms of foreign loans. Many countries have defaulted.

And although the government theoretically can just print money for internal operations, if they do so without control, welcome to the ten gazillion dollar bills becoming plentiful. Think Zimbabwe.

There is nothing wrong with fiat currencies put out by reasonably stable and competent governments. Granted the US system of giving the big banks a freebie on the issue of new loans is kind of stupid, but non the less, the system has allowed the USD to be the world's reserve currency for many years. To a lesser degree the Euro and a greater degree the Yuan are making inroads, but that is because of the growth of their economies more so than anything fundamentally wrong with the US system.

None of that, however means that by consistently running deficits, which means constantly increasing debt that will have to be paid back sometimes in the future isn't a bad thing for future generations. And the future may be getting closer.

So this tax bill sucks.
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Old December 3rd, 2017, 12:30 PM   #12
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Originally Posted by RNG View Post
Yes, the US can default, depending on the terms of foreign loans. Many countries have defaulted.

And although the government theoretically can just print money for internal operations, if they do so without control, welcome to the ten gazillion dollar bills becoming plentiful. Think Zimbabwe.

There is nothing wrong with fiat currencies put out by reasonably stable and competent governments. Granted the US system of giving the big banks a freebie on the issue of new loans is kind of stupid, but non the less, the system has allowed the USD to be the world's reserve currency for many years. To a lesser degree the Euro and a greater degree the Yuan are making inroads, but that is because of the growth of their economies more so than anything fundamentally wrong with the US system.

None of that, however means that by consistently running deficits, which means constantly increasing debt that will have to be paid back sometimes in the future isn't a bad thing for future generations. And the future may be getting closer.

So this tax bill sucks.
ONE MORE TME IS THE GDP GROWING AT <2.0% yes or no?

Why did not say nothing about the 10,000,000,000,000 of deficits over the last 8 years?

or the 14,200,000,000,000 dollars of Deficits created by Democrats over the last 50 years?
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Old December 3rd, 2017, 12:37 PM   #13
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Originally Posted by RNG View Post
Yes, the US can default, depending on the terms of foreign loans. Many countries have defaulted.

And although the government theoretically can just print money for internal operations, if they do so without control, welcome to the ten gazillion dollar bills becoming plentiful. Think Zimbabwe.

There is nothing wrong with fiat currencies put out by reasonably stable and competent governments. Granted the US system of giving the big banks a freebie on the issue of new loans is kind of stupid, but non the less, the system has allowed the USD to be the world's reserve currency for many years. To a lesser degree the Euro and a greater degree the Yuan are making inroads, but that is because of the growth of their economies more so than anything fundamentally wrong with the US system.

None of that, however means that by consistently running deficits, which means constantly increasing debt that will have to be paid back sometimes in the future isn't a bad thing for future generations. And the future may be getting closer.

So this tax bill sucks.
Of course it sucks. They aren't going to do any favors for the "common man". Remember Bush's 300 dollar "rebate" checks? What a damn joke. We are in trouble, China, Russia and Iran are about to walk away from the petro-dollar system. What happens to the US when all of those dollars come flowing back into the US?
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Old December 3rd, 2017, 12:45 PM   #14
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Of course it sucks. They aren't going to do any favors for the "common man". Remember Bush's 300 dollar "rebate" checks? What a damn joke. We are in trouble, China, Russia and Iran are about to walk away from the petro-dollar system. What happens to the US when all of those dollars come flowing back into the US?
We all had better hope it happens in an orderly fashion.
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Old December 3rd, 2017, 12:58 PM   #15
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I'll say it again, the "Right" and the "Left" wing belong to the same bird.
Nice avatar.
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Old December 3rd, 2017, 01:02 PM   #16
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I must say though, the Red Pill has made everything much more difficult.
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Old December 3rd, 2017, 01:10 PM   #17
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I must say though, the Red Pill has made everything much more difficult.
It appears to me that in the long run, the people who seem to just love them those blue pills are doing a lot of damage.
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Old December 3rd, 2017, 01:21 PM   #18
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It appears to me that in the long run, the people who seem to just love them those blue pills are doing a lot of damage.
Yes, but not enough people have taken the Red Pill to make a difference
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Old December 3rd, 2017, 01:22 PM   #19
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Worst case projection of the deficit created by the tax cut is 1 trillion dollars over 10 years. This is after we just piled up 9 trillion of deficits over 8 years of Barry soetoro. Hypocrisy thy name is democrat.
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Old December 3rd, 2017, 01:25 PM   #20
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Worst case projection of the deficit created by the tax cut is 1 trillion dollars over 10 years. This is after we just piled up 9 trillion of deficits over 8 years of Barry soetoro. Hypocrisy thy name is democrat.
The "projections" are always bogus.
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