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Thats great, but the 200 billion deficit of 2017 still exists no matter how much you cut in 2018 or beyond.
If you had to borrow $10,000 this year and the pay it back next year, yes , you did go in debt this year, but if youre back to even by the end of next year, it's better than continuing the cycle.
We are at a $20 trillion debt because we aren't paying it back the next year.
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Location: Pine Grove,AL
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Quote:
Originally Posted by PedroMartinez
If you had to borrow $10,000 this year and the pay it back next year, yes , you did go in debt this year, but if youre back to even by the end of next year, it's better than continuing the cycle.
We are at a $20 trillion debt because we aren't paying it back the next year.
I get that. Im saying you could have avoided the 10,000 in debt by simply not cutting taxes.
I mean.... What is better ? Paying off your debt with cuts or not going into debt at all ?????
Thank you, Obama! Wonderful job you did there. And the Democrats wanted four more years of the same.
The $9,334,590,089,060.56 that the debt had increased under Obama as of the close of business on Wednesday is far more debt than was accumulated by any previous president. It equals nearly twice as much as the $4,889,100,310,609.44 in additional debt that piled up during the eight years George W. Bush served as president.
You still don't understand debt. It comes from spending.
They really need to teach basic finance concepts in school.
Pedro - agree completely.
There's always time for BS stuff like art & music.
But finance? Nope.
As I am a big fantasy sports guy I would love to see art & music replaced with 'fantasy sports pastime' courses. But that will probably happen around the time that pigs fly.
It's not debt, it's the ability to SERVICE the debt through GDP growth that matters. The same way the size of the mortgage doesn't matter; it's the ability to make the monthly payments that matter.
Let me know if I need to dumb it down any further for you.
How did that philosophy work out around 2008?
You see, eventually the debt comes due.
There.... it's dumbed down....for YOU.
Obama Leaves U.S.A $9,335,000,000,000 Deeper in Debt
Congress controls the purse strings.
And the GOP first act of the year was to ensure they will at least match that number, but of course we all know that matching the number is just a start.
Pointing fingers, and pretending your party can do no wrong isn't going to solve the problem.
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