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Old 02-18-2022, 05:22 AM
 
Location: Wouldn't you like to know?
5,102 posts, read 1,681,980 times
Reputation: 3166

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What will happen when fed raises rates?


tightening into a slowdown guarantees the economy will go into quad4(look it up before you ask something stupid) and a huge market drop will follow.
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Old 02-18-2022, 05:30 AM
 
2,709 posts, read 1,043,423 times
Reputation: 1058
Quote:
Originally Posted by FordBronco1967 View Post
This is why I support a Constitutional Convention to add a 'Balanced Budget Amendment'. This is what we needed to do yesterday, too.
Except RINOs and UN Globalists will take over the Convention and destroy our Constitution/country.
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Old 02-18-2022, 05:46 AM
 
2,709 posts, read 1,043,423 times
Reputation: 1058
Quote:
Originally Posted by lifeexplorer View Post
LOL. A balanced budget simply means more taxes and more spending.

A good way is adding another condition: no more than x% of the gdp.
The federal government wouldn't stick to that.
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Old 02-18-2022, 05:51 AM
 
Location: South of Heaven
7,989 posts, read 3,519,178 times
Reputation: 11722
Quote:
Originally Posted by albert648 View Post
Uh no. Giving more money to the Federal Government to invariably **** away solves absolutely nothing. The Feds need to cut spending and they need to do it yesterday.

Let's start with a 50% budget cut and a 50% tax cut to go with it.
Our government cutting spending is one of the most impossible things in the universe, so why bother even considering it?

This only ends one way. The question isn't if it's when.
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Old 02-18-2022, 07:09 AM
 
15,568 posts, read 7,583,489 times
Reputation: 19460
Quote:
Originally Posted by FordBronco1967 View Post
This is why I support a Constitutional Convention to add a 'Balanced Budget Amendment'. This is what we needed to do yesterday, too.
That's not going to work. No one runs a balanced budget, not even people who claim they do. If you borrowed to buy a house, you ran a deficit. If you borrowed to buy a car, you ran a deficit. A balanced budget Amendment would be a disaster, especially in times of natural disasters and pandemics.
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Old 02-18-2022, 07:15 AM
 
15,568 posts, read 7,583,489 times
Reputation: 19460
Quote:
Originally Posted by albert648 View Post
Does it involve increasing FICA by a single penny? Yes? Then it's DOA in my book. I'm not paying a penny more to make up for SSA's mismanagement of the past generation's money.

Also, 21% of GDP is too goddamn high. That alone is a dealbreaker. Maybe come back with a plan that has government spend at no more than 10% of GDP.

Social security being sustainable if we dumped more money into it means it's fundamentally unsustainable. I'm personally prepared to pay exactly zero dollars, zero cents to bail out social security. If you hit me up for more money because SS might go insolvent, all you'll hear from me is a resounding "Fine, LET IT FAIL." And if you come crying to me about the jobs at SSA you'll get a big fat "I don't care" from me.

And I'm pretty sure I'm not alone in this.
OK, so I will put you down as a vote for "let low wage earners starve to death in poverty when they can no longer work"
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Old 02-18-2022, 07:17 AM
 
Location: Honolulu, HI
24,730 posts, read 9,533,981 times
Reputation: 23056
Quote:
Originally Posted by greywar View Post
imagine if we only spent 565 Billion on our military and made it focus on defending us instead of the 715 billion we spend to be the world police.
Yeah, millions of lost jobs.
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Old 02-18-2022, 08:02 AM
 
Location: East Lansing, MI
28,343 posts, read 16,420,843 times
Reputation: 10467
Quote:
Originally Posted by Rocko20 View Post
Yeah, millions of lost jobs.
Reps to you. I didn't want to bring it up.

If we cut Fed spending by 70%, as that one poster suggested, how many jobs would that necessarily eliminate? How many of those eliminated jobs could reasonably be absorbed by the private sector?
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Old 02-18-2022, 09:48 AM
 
Location: Free State of Florida
25,930 posts, read 12,951,218 times
Reputation: 19449
Quote:
Originally Posted by Toxic Waltz View Post
Our government cutting spending is one of the most impossible things in the universe, so why bother even considering it?

This only ends one way. The question isn't if it's when.
This is the cold harsh reality of American politics. The only thing polititicans are good at is spending other people's money, while enriching themselves. Anything good that happens for the rest of us, is pure coincidence.
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Old 02-18-2022, 09:54 AM
 
8,181 posts, read 2,805,464 times
Reputation: 6016
Quote:
Originally Posted by WRM20 View Post
OK, so I will put you down as a vote for "let low wage earners starve to death in poverty when they can no longer work"
I'll put you down for "I want to force people to continue paying into a system that is or will become insolvent knowing that it is or will become insolvent before they're eligible to draw from it even though it's creating more poor people than it helps"

Since you care so much about poor people, why don't YOU cut them a check then out of your own pocket? Put your money where your mouth is.

Continuing to dump money into a failed ponzi scheme, one with ****ty returns at that, in perpetuity is a non-starter as far as I'm concerned.

Last edited by albert648; 02-18-2022 at 10:08 AM..
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