Household Debt Reaches $17.5 Trillion in Fourth Quarter; Delinquency Rates Rise

[Lord Tammerlain]

that's justification for the massive debt Democrats have led us to

spend, spend, spend more and blame someone else - that is what Democrats do. But make no mistake, GOP spends crazy too, they're all in it together but when Biden leaves, national Debt WILL BE 36 trillion and in 12 of the last 16 years Democrats have be leading this country as its happened

fact

The massive debt by Republicans has had more impact

 

[stealthycat]

The single biggest leap in national debt in the past 25 years was the Republican neo-conmen putting the US into not one, but TWO invasions, occupations, and “nation building” in the Middle East and Central Asia, and putting All of it on a credit card.

FACT.

why limit to just 25 years? cherry picking just a wee bit are ya ?

U.S. Debt by President: Dollar and Percentage

The national debt has increased under most U.S. presidents. Here is how much each president's time in office added to the U.S. debt by percentage and dollar amounts.

www.investopedia.com

top 2 are Democrat, then 2 Republicans, then a Democrat again

FACT

 

[Lord Tammerlain]

why limit to just 25 years? cherry picking just a wee bit are ya ?

U.S. Debt by President: Dollar and Percentage

The national debt has increased under most U.S. presidents. Here is how much each president's time in office added to the U.S. debt by percentage and dollar amounts.

www.investopedia.com

top 2 are Democrat, then 2 Republicans, then a Democrat again

FACT

Now take away war time presidents, and what does the list look like

 

[stealthycat]

Now take away war time presidents, and what does the list look like

I don't know the last time we wasn't in war of some kind ....

 

[mrjurrs]

What's your beef with me? It was WSJ piece referencing the CBO. Are you arguing that the CBO has no credibility here? What about Fed Chair Jerome Powell?

Powell: ‘The US is on an unsustainable fiscal path’

Federal Reserve Chair Jerome Powell said “the U.S. is on an unsustainable fiscal path” in a “60 Minutes” interview with Scott Pelley released Sunday. “The U.S. federal government’…

thehill.com

Are you saying that the CBO and Fed Chair Powell are misguided?

If you don't want pushback, don't post.

 

[Kushinator]

I agree that we should pay people more. Step one is eliminating right to work for less nationwide.

The problem is, many companies have sunk considerable investment into these areas precisely because of lower labor cost. They will be able to argue, successfully IMO, for a longer transition period, and the reforms will get lost in the sauce.

 

[Kushinator]

no literally in other threads about national debt people say its not a problem to have 35 trillion in debt

have you not read any of those threads ?

See how easy it was for you to change the narrative from "good thing" to "not a problem"?

 

[Lord Tammerlain]

I don't know the last time we wasn't in war of some kind ....

Ww2

Last official war

 

[Helix]

The problem is, many companies have sunk considerable investment into these areas precisely because of lower labor cost. They will be able to argue, successfully IMO, for a longer transition period, and the reforms will get lost in the sauce.

Well, we're just talking about what ought to be done. It won't be done, so it's a thought exercise. I'll add eliminating the "independent contractor" scam to the mix. It cuts salaries in half, and the corporation still gets the same full time labor.

 

[Cynical]

If you don't want pushback, don't post.

I'm just of the opinion that on such types of economic issues that the view of the CBO and someone like Fed Chair Powell is relevant. There may be others here that agree as well and might be interested in what they have to say.

 

[Kushinator]

Well, we're just talking about what ought to be done. It won't be done, so it's a thought exercise. I'll add eliminating the "independent contractor" scam to the mix. It cuts salaries in half, and the corporation still gets the same full time labor.

Unfortunately, it's going to require something to break before there can be any urgency. And it won't be about saving low-skill / low-wage labor.

AI is coming for accountants, actuaries, lawyers, etc....

 

[stealthycat]

Ww2

Last official war

all those who died in Korea, Vietnam, Iraq, Afghanistan don't care if its labeled "official war"

its war, its conflict, its war

 

[Lord Tammerlain]

all those who died in Korea, Vietnam, Iraq, Afghanistan don't care if its labeled "official war"

its war, its conflict, its war

Not wars

 

[stealthycat]

Not wars

semantics

when I talk to one of my best friends and we're drinking bourbon by a campfire in the Colorado mountains and he reflects of his time in Iraq and Afghanistan

yes, its war

 

[MamboDervish]

why limit to just 25 years? cherry picking just a wee bit are ya ?

?? I followed your lead.

 

[Superfly]

blame blame blame

Isn’t that what you are doing?

 

[Superfly]

How would you determine the amount that equates "paid enough"?

I know you weren’t talking to me, but I’d say a realistic living wage. Where it doesn’t take two people working two jobs to be able to afford the rent.

There’s not a single state in this union, where a minimum wage worker can afford an apartment on 40 hours a week.

That’s bullshit and it shouldn’t be that way.

 

[Superfly]

It's because workers have kids and mortgages, and they fire you if you don't observe the work culture. There isn't a damned thing that you can do about it other than to quit, but your health care and possibly your family's health care is tied to that job. When you get the next job, it's the same thing, and then you have to prove yourself all over again by trying to work harder than everyone else. It's usually easier to just stay at one place.

Our work culture sucks. Don't work here if you can avoid it.

Facts. For the most part, the American worker is worked to death for very little pay, and can be terminated if they don’t like the way you wear your hair to work one morning.

 

[Superfly]

My point is the US would have had high inflation anyway because the whole world had high inflation.
The President doesn't have a magic wand to just make the US ignore the rest of the world.

Come on, Peter. Dont you know that all you have to do to blame Joe Biden for all the financial ills of the world is to put a Biden sticker on a gas pump?

What these idiots believe.

 

[AZRWinger]

That isn't the fault of young people. That was the point.

No, the claim was that national debt is a good thing and we'll never have a balanced budget. Neither is true.

 

[JRTurner]

No, the claim was that national debt is a good thing and we'll never have a balanced budget. Neither is true.

Ok.

 

[jonny5]

Maybe if most people were paid enough they wouldn't need to get into so much debt?

Most people are paid enough. So thats not it.

 

[stealthycat]

Isn’t that what you are doing?

I'm posting facts on who was leading this country in the years we went from 10 trillion to 35 trillion in debt

 

[jonny5]

The massive debt by Republicans has had more impact

What massive debt? Republicans didnt pass the 5 trillion in new spending in 2022. Republicans AND Democrats passed the 5 trillion in pandemic spending in 2020. Republicans didnt pass Obamacare. All of the major programs driving our debt were created and passed by democrats. 75% of spending is social programs created, expanded, and sustained by democrats.

 

[MamboDervish]

I'm posting facts on who was leading this country in the years we went from 10 trillion to 35 trillion in debt

So .... yeah! The phrase "in the years .... from" means you're cherry picking too.