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The next generation's inheritance has already been spent. Let's not spend any more of their kid's inheritance. We can't afford to kick this can down the road fo

The next generation's inheritance has already been spent. Let's not spend any more of their kid's inheritance. We can't afford to kick this can down the road forever, because the road isn't infinite. If we run out of road, everyone might be homeless. https://usdebtclock.org/ https://usdebtclock.org/

const_cast 1y ago
This comment reeks of dishonesty. Nobody actually cares about the debt, that's why this very bill is raising ICE's budget by orders of magnitude. The deficit isn't going to get lowered and everyone knows it - we're well past the point where republicans can lie through their teeth claiming some spooky debt clock.
linotype 1y ago
Great, raise taxes and cut spending even further. But taxes never get (meaningfully) raised.
- foenix 1y ago
  Exactly. Any discussion about US debt as a barrier to economic process when there are so many other avenues for the state to make revenue is either ignorant at best or disingenuous at worst.
  - raxxorraxor 1y ago
    What is disingenious about it? It is a recent phenomena that states have this amount of debt. The debt of the US specifically is backed by its military and economic output. If one collapses, there will be a severe hyperinflation. Tax payers are slowly and increasenly burdened by said debt.
    - linotype 1y ago
      I think the problem is that people that are constantly ranting about the debt (for instance Republicans), pass measures like the one they’re about to that raise the deficit even further while cutting taxes. If they were really concerned about the debt, they’d cut spending on defense (lol) and raise taxes to say the Clinton era.
      - tzs 1y ago
        Haven't you heard? Republicans have decided that all those deficit calculations for the new bill are wrong. See "How a GOP accounting maneuver hides $3.8 trillion in red ink from Trump's 'big, beautiful bill'" [1]. They are basically saying that when some current law is expiring (such as some of the 2017 Trump tax cuts) a bill that extends that law or makes it permanent should count as having zero cost. If this goes through it means any party that gets a majority in the Senate can pretty much get anything through via budget reconciliation (which is supposed to only be allowed for deficit-neutral things) which cannot be filibustered by simply putting a time limit on it and then later making it permanent. For example, Democrats pointed out that next time they have a majority they could pass universal free healthcare with a one year expiration with enough taxes and/or spending cuts elsewhere to make it deficit neutral for that one year, and then next year pass a bill making the universal healthcare permanent part permanent and letting the taxes or cuts expire. This bill making the healthcare permanent would have zero cost under the new Republican rules and so could also be done via budget reconciliation, and so just need a majority to pass. [1] https://finance.yahoo.com/news/how-a-gop-accounting-maneuver-hides-38-trillion-in-red-ink-from-trumps-big-beautiful-bill-160900268.html https://finance.yahoo.com/news/how-a-gop-accounting-maneuver...
        linotype 1y ago
        That kind of sounds amazing TBH. As an American I’m only now waking up to the depths of narcissism this country has, and Trump got it. Americans are either socially liberal and fiscally conservative (few), or socially liberal/conservative and fiscally liberal. They’re just giving the people what they want, let’s just give it to them faster and reset the whole thing sooner.
hedora 1y ago
Yeah; best not to let them reach adulthood. The BBB takes away a bunch of their health care and food. That’ll thin the numbers! Oh wait, were you being serious? Look at which programs are being cut vs expanded, and their relative cost vs benefit. Basic arithmetic says this bill is designed to do maximal damage to the future of the US. For instance, the energy star program saves an average taxpayer 1000x what they pay in taxes to fund it, and is supported by industry, consumer, environmental groups, democrats and republicans. So, of course it’s getting killed.
rawgabbit 1y ago
The GOP are not serious about the debt. The Trump tax cuts of 2017 and the big ugly bill is estimated to add 1.5 and 4 trillion to the federal debt. To add insult to injury, it is cutting benefits to the people who need it the most.
- Whoppertime 1y ago
  We could find out who is more serious about the debt by comparing the total debt in January 20th 2017 when Trump entered office and January 20th 2021 when he left office, with the size of the debt when Joe Biden entered office in January of 2021 and left office in January of 2025. If you do that you will see the former raised the debt from $19.95 trillion to $27.75 trillion or by 7.8 trillion. While Joe Biden started with 27.75 trillion and ended with 36.2 trillion or an increase of 8.4 trillion.

const_cast 1y ago

This comment reeks of dishonesty. Nobody actually cares about the debt, that's why this very bill is raising ICE's budget by orders of magnitude. The deficit isn't going to get lowered and everyone knows it - we're well past the point where republicans can lie through their teeth claiming some spooky debt clock.

linotype 1y ago

Great, raise taxes and cut spending even further. But taxes never get (meaningfully) raised.

foenix 1y ago
Exactly. Any discussion about US debt as a barrier to economic process when there are so many other avenues for the state to make revenue is either ignorant at best or disingenuous at worst.
- raxxorraxor 1y ago
  What is disingenious about it? It is a recent phenomena that states have this amount of debt. The debt of the US specifically is backed by its military and economic output. If one collapses, there will be a severe hyperinflation. Tax payers are slowly and increasenly burdened by said debt.
  - linotype 1y ago
    I think the problem is that people that are constantly ranting about the debt (for instance Republicans), pass measures like the one they’re about to that raise the deficit even further while cutting taxes. If they were really concerned about the debt, they’d cut spending on defense (lol) and raise taxes to say the Clinton era.
    - tzs 1y ago
      Haven't you heard? Republicans have decided that all those deficit calculations for the new bill are wrong. See "How a GOP accounting maneuver hides $3.8 trillion in red ink from Trump's 'big, beautiful bill'" [1]. They are basically saying that when some current law is expiring (such as some of the 2017 Trump tax cuts) a bill that extends that law or makes it permanent should count as having zero cost. If this goes through it means any party that gets a majority in the Senate can pretty much get anything through via budget reconciliation (which is supposed to only be allowed for deficit-neutral things) which cannot be filibustered by simply putting a time limit on it and then later making it permanent. For example, Democrats pointed out that next time they have a majority they could pass universal free healthcare with a one year expiration with enough taxes and/or spending cuts elsewhere to make it deficit neutral for that one year, and then next year pass a bill making the universal healthcare permanent part permanent and letting the taxes or cuts expire. This bill making the healthcare permanent would have zero cost under the new Republican rules and so could also be done via budget reconciliation, and so just need a majority to pass. [1] https://finance.yahoo.com/news/how-a-gop-accounting-maneuver-hides-38-trillion-in-red-ink-from-trumps-big-beautiful-bill-160900268.html https://finance.yahoo.com/news/how-a-gop-accounting-maneuver...
      - linotype 1y ago
        That kind of sounds amazing TBH. As an American I’m only now waking up to the depths of narcissism this country has, and Trump got it. Americans are either socially liberal and fiscally conservative (few), or socially liberal/conservative and fiscally liberal. They’re just giving the people what they want, let’s just give it to them faster and reset the whole thing sooner.

hedora 1y ago

Yeah; best not to let them reach adulthood. The BBB takes away a bunch of their health care and food. That’ll thin the numbers! Oh wait, were you being serious? Look at which programs are being cut vs expanded, and their relative cost vs benefit. Basic arithmetic says this bill is designed to do maximal damage to the future of the US. For instance, the energy star program saves an average taxpayer 1000x what they pay in taxes to fund it, and is supported by industry, consumer, environmental groups, democrats and republicans. So, of course it’s getting killed.

rawgabbit 1y ago

The GOP are not serious about the debt. The Trump tax cuts of 2017 and the big ugly bill is estimated to add 1.5 and 4 trillion to the federal debt. To add insult to injury, it is cutting benefits to the people who need it the most.

Whoppertime 1y ago
We could find out who is more serious about the debt by comparing the total debt in January 20th 2017 when Trump entered office and January 20th 2021 when he left office, with the size of the debt when Joe Biden entered office in January of 2021 and left office in January of 2025. If you do that you will see the former raised the debt from $19.95 trillion to $27.75 trillion or by 7.8 trillion. While Joe Biden started with 27.75 trillion and ended with 36.2 trillion or an increase of 8.4 trillion.