Topic: What's the point of the debt ceiling, again?
Meta !PARAdoxiHw started this discussion 13 years ago #28,177
It's ostensibly supposed to limit the amount of debt that our bloated federal government gets us into, but as you can see from the historical debt ceiling and debt level chart, it just follows the level of debt. It's just gotten retarded lately; every few months Team Red and Team Blue have a hissy fit and squabble over it, then boldly agree to spend more on their favored pork barrel projects, in exchange for some grand bargain to cut spending a decade from now. Even if the debt "ceiling" were reached, the Treasury will just enact "extraordinary measures" (read: Enron accounting skillz) and if worst comes to worst, make a trillion dollar coin.
They should just abolish the damn thing and just start openly printing money to finance America's debt.
Syntax joined in and replied with this 13 years ago, 12 minutes later[^] [v] #417,726
Gov printing money is a long tradition. One just needs to be powerful enough to keep this going.
One must throw away common sense to understand how the USA gets away with this.
One must throw away common sense to understand how the USA gets away with this.
Anonymous C joined in and replied with this 13 years ago, 1 minute later, 13 minutes after the original post[^] [v] #417,727
@OP smells like a Keynsian!
Meta !PARAdoxiHw (OP) replied with this 13 years ago, 41 minutes later, 54 minutes after the original post[^] [v] #417,729
@previous (C)
The current government is full of Keynesian frauds. Keynesian economics is an unmitigated disaster. Why didn't any of the best and brightest Ph. D Keynsian economists (like Paul Krugman and Ben Bernanke) see the 2008 recession coming?
If Keynesian economics worked, Zimbabwe would be the richest country on earth.
The current government is full of Keynesian frauds. Keynesian economics is an unmitigated disaster. Why didn't any of the best and brightest Ph. D Keynsian economists (like Paul Krugman and Ben Bernanke) see the 2008 recession coming?
If Keynesian economics worked, Zimbabwe would be the richest country on earth.
(Edited 16 seconds later.)
HaikerensGuide !dBGi/iH4eY joined in and replied with this 13 years ago, 28 seconds later, 55 minutes after the original post[^] [v] #417,730
Anonymous C replied with this 13 years ago, 3 minutes later, 59 minutes after the original post[^] [v] #417,731
@417,729 (Meta !PARAdoxiHw)
> poor portrayal of keynsian economics
> mfw libertarians say we need to run government like a business, then ignore that businesses take out lines of credit and invest the funds.
> poor portrayal of keynsian economics
> mfw libertarians say we need to run government like a business, then ignore that businesses take out lines of credit and invest the funds.
Meta !PARAdoxiHw (OP) replied with this 13 years ago, 8 minutes later, 1 hour after the original post[^] [v] #417,732
@previous (C)
And businesses have to pay that money back (with actual profits made by providing useful goods or services, not by printing money or taking out more debt), or go bankrupt and be liquidated.
Also, what, specifically, was wrong with my portrayal of Keynesian economics? Robert Mugabe was just enthusiastically stimulating the economy, and keeping the evil deflation monster at bay.
And businesses have to pay that money back (with actual profits made by providing useful goods or services, not by printing money or taking out more debt), or go bankrupt and be liquidated.
Also, what, specifically, was wrong with my portrayal of Keynesian economics? Robert Mugabe was just enthusiastically stimulating the economy, and keeping the evil deflation monster at bay.
(Edited 50 seconds later.)