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I have watched the GOP increase debt and blame the Dems. for many decades. Here in NC the GOP has forced the population to take on debt just for maintenance of public property. They like to use the line that oh it is not an increase in debt because old debt just paid off would just continue.
To me that means an increase in debt brought on by their flat tax and austerity.
The nation's finances are controlled almost exclusively by the house of representatives. A governing body solidly in the hands of the GOP for the past six years and 18 of the past 22 years.
Characterizing GOP governance as "left wing" is incredibly perverse.
I respectfully disagree.
The House puts together a budget.
The SENATE does the same.
Remember harrry reid for what 6 years or so, "WE DON'T NEED A BUDGET"
They then get together and "compromise".
Once the budget is passed it goes to the president to either sign or veto.
After that, it is OUT of their hands.
Once it becomes 'law" the PRESIDENT as the chief executor "runs" the country.
The President has a LOT of latitude on how the money will be spent.
The country is swimming in debt yet alot of people,mostly Republicans, dont seem to mind that a billionaire like Trump pays almost no taxes. Go figure!!!
"mostly Republicans, dont seem to mind that a billionaire like Trump pays almost no taxes"
Prove it!
How many real tax cuts have the dems proposed?
They had COMPLETE control of the government, the W.H., the Senate AND the House.
What did they do to cut taxes or change the tax laws?
Not left wing or right wing but futures drove the pound back to its low mark and treasury bonds had a huge sell off overseas this morning. Being tied to mortgage rates, well, let's see what happens.
No knee jerk reaction and people shouldn't abandon the bond market but that is the crux of the whole money supply argument... When/if bonds start a long term yield decline (as has happened as of late), those of us who fear hyperinflation and devalued dollars won't look like chicken littles
I'm not sure what balance sheet you are looking at. If we should have onerous inflation Treasuries will necessarily need to have high yields. Right now the world is satisfied getting pittance for interest, as demands are so high. Hyperinflation is where the world demands ever higher returns to counter future risk.
This is why Greek bonds have to pay such high rates of return.
The bottom line is: Boomers are retiring and living on a lower income than when they were in their younger years. Millenials will pay higher taxes for the Obamadebt for the rest of their lives.
The bottom line is: Boomers are retiring and living on a lower income than when they were in their younger years. Millenials will pay higher taxes for the Obamadebt for the rest of their lives.
Too bad, so sad, they voted for O.
Most retirees take an income cut, now and forever.
Future taxes no one knows.
I pay no more tax than when Reagan was Chief. And we certainly have more National Debt today. I have always paid my taxes based on my income, not based on National Debt. I never paid more to cover my parent's generational debt. Why should my kids?
I'm not sure what balance sheet you are looking at. If we should have onerous inflation Treasuries will necessarily need to have high yields. Right now the world is satisfied getting pittance for interest, as demands are so high. Hyperinflation is where the world demands ever higher returns to counter future risk.
This is why Greek bonds have to pay such high rates of return.
With Brexit we again have seen the typical flight to safety - US debt. So rates went down.
If we ever want to raise the value of the USD, we can increase interest rates.
Have you been watching the treasury negative yield?
You can think it'll forever rise but Greece is such a poor example as was Zimbabwe Argentina and Japan.
When people/entities see a declining/negative return on bonds, it fails. Are we there yet? Not quite. To say confidence is not declining is false.
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