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What's the difference? Everyone involved has been completely reckless with the debt. You think a democrat will somehow stop spending? Both parties are super hap

What's the difference? Everyone involved has been completely reckless with the debt. You think a democrat will somehow stop spending? Both parties are super happy to drive the car off the cliff

donohoe 28d ago
They just told you what the difference is.
- DoesntMatter22 28d ago
  There is no practical difference. Both parties are glad to drive the car off a cliff
  - rbanffy 28d ago
    The big difference is that, at the current rate, economic collapse of the US will happen in my lifetime, and I’m almost 60. I wasn’t looking forward to that kind of planetary upheaval for my retirement.
    - JKCalhoun 28d ago
      My wife worries about surviving the next Great Depression. "Do we have enough cash?", "Should I put off retirement?", etc. I've tried to tell her that we're all going down. Workers will be laid off, markets will crash, real estate will collapse, money will inflate… Best look instead for ways to try and enjoy life regardless.
epolanski 28d ago
The difference is that this administration is running at double the rate of the previous ones, and George Bush oversaw both two wars and the global financial crisis in 2007. Your argument "since you're already over the speed limit, 200 or 300 miles per hour don't matter". Sounds asinine. In any case I didn't say anything about democrats, but for sure, this administration with large tax cuts and increased spending is speeding US into very dangerous territory.
- DoesntMatter22 28d ago
  Well all the other administrations were driving 200 or 300 miles over, now we are driving 500 over. It doesn't matter really, if we hit anything (like Japan dumping US treasuries) we may be dead. The democrats thing was what I had originally replied to. My whole point is that it really doesn't matter who is in the White House really, both sides seem determined to rack up as much debt as possible and it'll probably spiral out of control. Neither side wants to cut costs (not really), in fact many want to spend more.
  - epolanski 28d ago
    This is true globally, not just in the US, and that's why global debt keeps spiralling. But I still find the argument "it doesn't matter if you're going 200 or 300 or 500 mph" completely asinine. It does, and it makes an enormous difference when the debt is so big in absolute terms. You keep forcing an equality that's not there. At the end of the day it's one specific administration that brought the largest tax cuts in history since 1981's Reagan (another republican) ones while increasing spending.
    - rbanffy 28d ago
      > and that's why global debt keeps spiralling. Yes, but if the dollar collapses and is replaced by a new reserve currency while other countries have debts in dollars, they win and the US loses. Only the US loses, keep in mind. It’ll be the first time the US experiences that side of the stick.
      - DoesntMatter22 28d ago
        If the US suffers severely the rest of the world will collapse. There's no scenario in which that doesn't happen. Everything is interdepedant and many non US countries (like Europe, Japan, China) depend heavily on the US.
    - DoesntMatter22 28d ago
      The point is is that it just doesn’t matter anymore. Neither party is going to stop it. No matter who is in power It’s going to end badly.
cosmicgadget 28d ago
Well, the last president to steer the car away from the cliff came from one party, the other is currently mashing the accelerator toward it. And that is without considering things like invading Iraq and Afghanistan, creating the global financial crisis, or turning on the money printer at the start of covid. If you look at this information and say, "no difference" I don't think anyone here can help you.
- DoesntMatter22 26d ago
  Almost all of Bill Clinton's policies were to the RIGHT of Trump, so I'm not sure what you are saying exactly. Biden created the most debt in 1 term of any president ever. You can't really compare one party from 27 years ago to today realistically.
  - cosmicgadget 24d ago
    I agree the comparison fades the farther back you go, though there are plenty of policymakers around today and in the Clinton days. I can't do much with something as hamfisted as "Clinton was actually right of Trump" other than to say that parties, not ideologies, are what was brought up in the parent comment. It is dishonest to talk about Biden's four year deficit without acknowledging the 2020/2021 deficit and monetary policy. See also Obama inheriting the gfc and whatever is going to happen in 2029.

What's the difference? Everyone involved has been completely reckless with the debt. You think a democrat will somehow stop spending? Both parties are super happy to drive the car off the cliff

donohoe 28d ago

They just told you what the difference is.

DoesntMatter22 28d ago
There is no practical difference. Both parties are glad to drive the car off a cliff
- rbanffy 28d ago
  The big difference is that, at the current rate, economic collapse of the US will happen in my lifetime, and I’m almost 60. I wasn’t looking forward to that kind of planetary upheaval for my retirement.
  - JKCalhoun 28d ago
    My wife worries about surviving the next Great Depression. "Do we have enough cash?", "Should I put off retirement?", etc. I've tried to tell her that we're all going down. Workers will be laid off, markets will crash, real estate will collapse, money will inflate… Best look instead for ways to try and enjoy life regardless.

epolanski 28d ago

The difference is that this administration is running at double the rate of the previous ones, and George Bush oversaw both two wars and the global financial crisis in 2007. Your argument "since you're already over the speed limit, 200 or 300 miles per hour don't matter". Sounds asinine. In any case I didn't say anything about democrats, but for sure, this administration with large tax cuts and increased spending is speeding US into very dangerous territory.

DoesntMatter22 28d ago
Well all the other administrations were driving 200 or 300 miles over, now we are driving 500 over. It doesn't matter really, if we hit anything (like Japan dumping US treasuries) we may be dead. The democrats thing was what I had originally replied to. My whole point is that it really doesn't matter who is in the White House really, both sides seem determined to rack up as much debt as possible and it'll probably spiral out of control. Neither side wants to cut costs (not really), in fact many want to spend more.
- epolanski 28d ago
  This is true globally, not just in the US, and that's why global debt keeps spiralling. But I still find the argument "it doesn't matter if you're going 200 or 300 or 500 mph" completely asinine. It does, and it makes an enormous difference when the debt is so big in absolute terms. You keep forcing an equality that's not there. At the end of the day it's one specific administration that brought the largest tax cuts in history since 1981's Reagan (another republican) ones while increasing spending.
  - rbanffy 28d ago
    > and that's why global debt keeps spiralling. Yes, but if the dollar collapses and is replaced by a new reserve currency while other countries have debts in dollars, they win and the US loses. Only the US loses, keep in mind. It’ll be the first time the US experiences that side of the stick.
    - DoesntMatter22 28d ago
      If the US suffers severely the rest of the world will collapse. There's no scenario in which that doesn't happen. Everything is interdepedant and many non US countries (like Europe, Japan, China) depend heavily on the US.
  - DoesntMatter22 28d ago
    The point is is that it just doesn’t matter anymore. Neither party is going to stop it. No matter who is in power It’s going to end badly.

cosmicgadget 28d ago

Well, the last president to steer the car away from the cliff came from one party, the other is currently mashing the accelerator toward it. And that is without considering things like invading Iraq and Afghanistan, creating the global financial crisis, or turning on the money printer at the start of covid. If you look at this information and say, "no difference" I don't think anyone here can help you.

DoesntMatter22 26d ago
Almost all of Bill Clinton's policies were to the RIGHT of Trump, so I'm not sure what you are saying exactly. Biden created the most debt in 1 term of any president ever. You can't really compare one party from 27 years ago to today realistically.
- cosmicgadget 24d ago
  I agree the comparison fades the farther back you go, though there are plenty of policymakers around today and in the Clinton days. I can't do much with something as hamfisted as "Clinton was actually right of Trump" other than to say that parties, not ideologies, are what was brought up in the parent comment. It is dishonest to talk about Biden's four year deficit without acknowledging the 2020/2021 deficit and monetary policy. See also Obama inheriting the gfc and whatever is going to happen in 2029.