Congratulations to President Biden

[DEAR_JOHN]

As much as I dislike President Biden, I must congratulate him on setting a record. And before it gets started, the Orange Man had nothing to do, I repeat nothing to do with President Bidens record setting economy or Biden-nomics.

Fitch Ratings recently downgraded the U.S. long-term credit rating from its top mark of AAA to AA+, marking the second time in history that a major credit-rating agency downgraded the United States. The first time was by Standard & Poor's (S&P) in 2011.

Nice job Joe, since you have everything on your side, except for the house, I think you should change the rules so you can be the first 100 year old President. I mean right now barack and michael obama are pulling your strings to have their way and make you look like an even bigger idiot than you already are.


Here's to men who are born male at birth, and women who are born with a uterus having a Coors light beer.

[pxmcc]

I think that's mostly due to, in both cases, the House Freedom Caucus and their Senate equivalents-and its predecessor the Tea Party's-brinkmanship holding the country's finances hostage over raising the debt ceiling. Those idiots-Paul Gosar, Lauren Boebert, Jim Jordan and his clan of seditionists who also need to be indicted over Jan 6-should be thrown out of government for ruining the fed's perfect credit rating. They think it's a game and the downgrade proves it's not. They're complete fools. And the debt ceiling is worse than useless; it's a perfect vehicle for terrorists inside our government to wreck the U.S.'s perfect credit rating. No president should even acknowledge it's a thing because it's not, under the 14th Amendment.

Long-term, we need to eliminate the 100k income cap on Soc. Sec. contributions, and rewrite Medicare so it's centered around a patient's needs rather than the needs of Wall Street. Medicare's finances are an absolute train wreck. I wrote a 50 page law review article on a tiny sliver, the Long-Term Acute Care hospitals (LTACs), and the way they scam Medicare I found to be shocking. It's the same for the General Acute Care hospitals, the pharm industry, the medical devices industry, etc. etc. We have to get a handle on Medicare expenditures or this country will choke on them.

solve Medicare and Social Security by doing what i said, raise taxes on the rich, raise corporate income taxes, raise taxes on U.S. companies offshoring, and reboot manufacturing and consequent exporting-which Biden is doing-and we have a path to run a credit balance and pay off the debt. the last president to do that was Clinton, a Democrat. idiot dubya then came in and made the surplus a deficit with an unpaid-for tax cut-they're never paid for by the way-and 2 unfunded wars. if you're going to go to war, make a sacrifice like our troops do with their blood, and pay for the damn thing. and tax cuts are for when you have 0 debt and are running a surplus, after you've built up a sizable rainy day fund. otherwise they have no place in good governance.

[winn dixie]

Raise taxes while the u s has record inflation. No way

[pxmcc]

Originally Posted by winn dixie

Raise taxes while the u s has record inflation. No way

winn, taxes are on company profits or personal income; they are self-adjusting to avoid taxing people with low income or companies who've lost money. (Trump? yikes! i think the orange billionaire pays no taxes because he cheats Uncle Sam.) every claim that higher taxes produce recessions has been historically proven false, as has every supply-side claim that lowering taxes somehow (magically) reduces deficits.

taxes are not a disincentive to hiring or investment. investment is a bit more complicated, but if a company can make money by hiring staff, Uncle Sam says go for it and lets the company deduct salaries and benefits as costs that it can deduct from its revenue before it owes a nickel in taxes. for capital investments, it does the same thing over time through depreciation. for the company, the only thing they should worry about is if the action has a positive net present value, not whether taxes are high or low. taxes only kick in if the company has already "won;" i.e., made a profit after paying all of its bills and expenses.

i would make a (debateable) case that raising taxes lowers inflation as well.

[NordicJag]

Originally Posted by DEAR_JOHN

As much as I dislike President Biden, I must congratulate him on setting a record. And before it gets started, the Orange Man had nothing to do, I repeat nothing to do with President Bidens record setting economy or Biden-nomics.

Quote:
Fitch Ratings recently downgraded the U.S. long-term credit rating from its top mark of AAA to AA+, marking the second time in history that a major credit-rating agency downgraded the United States. The first time was by Standard & Poor's (S&P) in 2011.



Nice job Joe, since you have everything on your side, except for the house, I think you should change the rules so you can be the first 100 year old President. I mean right now barack and michael obama are pulling your strings to have their way and make you look like an even bigger idiot than you already are.

Here is an article on the subject instead of taking things out of context. It makes reference that this did not just happen in the last couple of years. It has been headed toward this for at least a couple of decades. I don't think the article mentioned it, I'm sure things were not helped by the largest increase in the national debt by far in 2020. I do not believe that President Biden was in office yet in 2020.

https://www.fitchratings.com/researc...ble-01-08-2023

[pxmcc]

^^good article. and notice the lead paragraphs led with references to this now periodic debt ceiling crisis created by the far right, government-insider terrorists. you don't solve complex issues by grabbing a stick of dynamite and demanding that everyone follow all your commands or you're going to blow everything up..

why don't these clowns come up with some policy prescriptives that actually might help solve the u.s.'s long-term fiscal problems, other than tax cuts as the answer for everything, which dubya and trump proved-once again, for all the charlatan supply-sider "economists" who never stop being wrong-make deficits notably worse, not better?

i'm center-left, and i put the U.S. debt situation in the same category as climate change: it's coming for us, and the only unknowns are "how soon" and "how bad." for that very reason i am diversifying my portfolio away from greenbacks. but i'd prefer if this great country would get it's fiscal house in order, or the market will do it for us/to us.

the bush and trump tax cuts were inexcusable, under the circumstances in which they were passed. and i say that even though both times my personal income taxes went down.