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Last post 2 years ago by RayR. 23 replies replies.
POS Pelosi says Congress, including GOP, must raise debt ceiling to pay off 'Trump's credit
RayR Offline
#1 Posted:
Joined: 07-20-2020
Posts: 8,796
Yes folks you heard it here, 💩-bag Pelosi is concerned about the national debt.
Well...not really, she's just concerned about staving off gubment bankruptcy so the progtard spending spree can continue.
Just have the FED monetize more gubment debt (that means counterfeit some more paper loot to bail them out)...that'll fix it.Glare


Pelosi says Congress, including GOP, must raise debt ceiling to pay off 'Trump's credit card'

The California Democrat argued Trump racked up $7 trillion in debt over his four-year presidency.

By Joseph Weber
Updated: September 8, 2021 - 1:02pm

Quote:
House Speaker Nancy Pelosi said Wednesday that Congress must act to raise the debt ceiling because of the debt incurred under former President Trump, saying, “We’re paying the Trump credit card.”

The California Democrat argued Trump racked up $7 trillion in debt over his four-year presidency.

"We're paying the Trump credit card with what we would do to lift the debt ceiling," Pelosi said during a weekly press conference. "When Trump was president, we Democrats supported the of lifting the debt ceiling, because it's the responsible thing to do. I would hope that the Republicans would act in a similarly responsible way."

Pelosi, the leader of the Democrat-controlled chamber, spoke one day after Treasury Secretary Janet Yellen told her there was an urgency in raising the debt ceiling because, she said, the country's ability to pay its bills will likely end sooner than expected.

The Treasury Department used so-called "extraordinary measures" to continue to pay off the federal government's bills after Congress missed a July 30 deadline to raise or suspend the ceiling.

However, Yellen those measures will likely be exhausted by mid-October, citing the pandemic and related federal aid.

Whether to lift the ceiling is again a highly partisan issue on Capitol Hill.

Last month, 46 Senate Republicans pledged to not help Democrats raise the debt limit, citing their $3.5 trillion spending package, full of money for progressive initiatives like expanding government-funded health care, according to Business Insider.

Republicans also argue Democrats could get their multi-trillion-dollar spending measure to President Biden’s desk without a single Republican vote if they use the legislative maneuver in the Senate known as budget reconciliation.


https://justthenews.com/government/congress/pelosi-says-congress-including-gop-must-raise-debt-ceiling-pay-trumps-credit



Treasury Reiterates Warning US Government Could Run Out of Money to Service Debt By October

Quote:
WASHINGTON (Sputnik) - The US government could run out of money as early as next month to service its debt, Treasury Secretary Janet Yellen said on Wednesday, reiterating her warning that emergency measures put in place to raise cash could be exhausted soon.

"Given this uncertainty, the Treasury Department is not able to provide a specific estimate of how long the extraordinary measures will last," Yellen said in a copy of her letter to Pelosi, released by the department. "However, based on our best and most recent information, the most likely outcome is that cash and extraordinary measures will be exhausted during the month of October."

Yellen announced in August that the Treasury Department was suspending fully or partly investments in the Civil Service Retirement and Disability Fund, the Postal Service Retiree Health Benefits Fund and a section of the Federal Employees Retirement to free up funds to service the national debt.

More...

https://sputniknews.com/20210908/treasury-reiterates-warning-us-government-could-run-out-of-money-to-service-debt-by-october-1088887233.html?utm_source=push&utm_medium=browser_notification&utm_campaign=sputnik_inter_en

rfenst Offline
#2 Posted:
Joined: 06-23-2007
Posts: 39,100
President Trump's Impact on the National Debt
The national debt has increased by almost 36% since Trump took office

The Balance

During the 2016 presidential campaign, Republican candidate Donald Trump promised he would eliminate the nation’s debt in eight years.1 Instead, his budget estimates showed that he would actually add at least $8.3 trillion, increasing the U.S. debt to $28.5 trillion by 2025.2 However, the national debt reached that figure much sooner. When President Trump took office in January 2017, the national debt stood at $19.9 trillion. In October 2020, the national debt reached a new high of $27 trillion. That's an increase of almost 36% in less than four years.

The national debt reached a new high of $28 trillion less than two months after President Trump left office.3

Key Takeaways
During his campaign in 2016, President Trump promised to eliminate the national debt in eight years.
Instead, it was projected that he would add at least $8.3 trillion.
In October 2020, the national debt reached a new high of $27 trillion, an increase of almost 36% since President Trump took office in 2017.

The national debt reached a record high shortly after President Trump left office.

How Did the National Debt Increase After Trump Took Office?
At first, it seemed Trump was lowering the debt. It fell $102 billion in the first six months after Trump took office. On January 20, the day Trump was inaugurated, the debt was $19.9 trillion. On July 30, it was $19.8 trillion. But it was not because of anything he did. Instead, it was because of the federal debt ceiling.

On Sept. 8, 2017, Trump signed a bill increasing the debt ceiling. Later that day, the debt exceeded $20 trillion for the first time in U.S. history. On Feb. 9, 2018, Trump signed a bill suspending the debt ceiling until March 1, 2019.5 By February 2019, the total national debt was at $22 trillion. In July 2019, Trump suspended the debt ceiling until after the 2020 presidential election. On Oct. 1, 2020, the debt hit a new record of $27 trillion.
...
RayR Offline
#3 Posted:
Joined: 07-20-2020
Posts: 8,796
And when Obama was sworn in on Jan. 20, 2009, the debt was $10.626 trillion.1 When he left office on Jan. 20, 2017, it was $19.937 trillion.
So what's the point? No administration, no congress in our lifetime for sure and for many decades previous has done anything meaningful to reign in government spending and the FED's fiat monetary policy that feeds the debt monster. They've compounded the problem over and over, it's been one big azz endless welfare-warfare party with no end in sight except the eventual default that will have to come.

The brilliant malevolent Demorats have a plan though, the same line of crap that they always have....they're gonna tax the economy into prosperity and pay for all their socialist spending. How dumb does one have to be to believe that?
Smooth light Offline
#4 Posted:
Joined: 06-26-2020
Posts: 3,598
What would the debt be if you take out the cost of the pandemic?

Nobody paying in, just money going out. Plus all the back stabbing and no team work, did not help either.
rfenst Offline
#5 Posted:
Joined: 06-23-2007
Posts: 39,100
@#3
You are the one who posted something about Trump's deficit spending. I just checked into what Nancy is claiming and provided some facts.
,
(Sure, Obama was worse. That too is a fact. But, it has nothing to do with Nancy's claim.)
HockeyDad Offline
#6 Posted:
Joined: 09-20-2000
Posts: 46,065
When the county is bankrupt and rebuilds as a socialist nation, Nancy Pelosi will still be a millionaire in the leadership class.

I drove by her vineyard in Napa two weeks ago. It is fun to see if she is there. The black SUVs for the security detail give it away. She was there.
rfenst Offline
#7 Posted:
Joined: 06-23-2007
Posts: 39,100
HockeyDad wrote:
When the county is bankrupt and rebuilds as a socialist nation, Nancy Pelosi will still be a millionaire in the leadership class.

I drove by her vineyard in Napa two weeks ago. It is fun to see if she is there. The black SUVs for the security detail give it away. She was there.

I don't see people who are as well off as she is suffering too much from that inevitable reckoning.
MACS Offline
#8 Posted:
Joined: 02-26-2004
Posts: 79,593
If you think the "haves" are going to retain their possessions from the "have nots" if the shiite hits the fan... you would be mistaken.

Why do you think they continue to whittle away at guns and ammo rights?

They don't want the riff raff killing them and taking their sh-t.
bgz Offline
#9 Posted:
Joined: 07-29-2014
Posts: 13,023
Told you guys Trump was a liberal.
BuckyB93 Offline
#10 Posted:
Joined: 07-16-2004
Posts: 14,111
^ dude.. you missed a nine.

I still haven't received my free Obama phone Angry
tonygraz Offline
#11 Posted:
Joined: 08-11-2008
Posts: 20,175
You have to ask for it and be qualified for it. I'll see if I can get a number to call for you and Drafter.
RayR Offline
#12 Posted:
Joined: 07-20-2020
Posts: 8,796
bgz wrote:
Told you guys Trump was a liberal.


Does that mean you secretly like Trump?Think

I always knew he wasn't a true conservative and definitely not a libertarian but in comparison to leftist swindlers like Biden and Pelosi who both clearly suffer from onset dementia, he looks like their complete opposite to some people and completely sane.
Now to be fair, it's not the President's fault for everything, all this deficit spending and debt would not be possible without his co-conspirators in Congress.
bgz Offline
#13 Posted:
Joined: 07-29-2014
Posts: 13,023
We haven't had a conservative in office since Bill Clinton... I know he was no Reagan, but at least he kept the news entertaining.
RayR Offline
#14 Posted:
Joined: 07-20-2020
Posts: 8,796
You must have one of those very strange definitions of "conservative"
bgz Offline
#15 Posted:
Joined: 07-29-2014
Posts: 13,023
Who have we had that was more conservative than Bill since Bill?

I know you're not going to say Bush Jr.... He spent money like a drunken' Kennedy.

I'll wait.
HockeyDad Offline
#16 Posted:
Joined: 09-20-2000
Posts: 46,065
BuckyB93 wrote:
^ dude.. you missed a nine.

I still haven't received my free Obama phone Angry


Maybe PM CelticBomber?
RayR Offline
#17 Posted:
Joined: 07-20-2020
Posts: 8,796
bgz wrote:
Who have we had that was more conservative than Bill since Bill?

I know you're not going to say Bush Jr.... He spent money like a drunken' Kennedy.

I'll wait.


You still haven't defined what made Clinton "conservative" in your warped mind.
Bush Jr was a progtard a.k.a. "compassionate conservative".

I've never known a real conservative president in my time, even before Clinton, like Reagan.


bgz Offline
#18 Posted:
Joined: 07-29-2014
Posts: 13,023
RayR wrote:
You still haven't defined what made Clinton "conservative" in your warped mind.
Bush Jr was a progtard a.k.a. "compassionate conservative".

I've never known a real conservative president in my time, even before Clinton, like Reagan.




Sounds to me like you agree with me.
RayR Offline
#19 Posted:
Joined: 07-20-2020
Posts: 8,796
bgz wrote:
Sounds to me like you agree with me.


Don't spread rumors. Shame on you I don't see where I agreed with you.
RayR Offline
#20 Posted:
Joined: 07-20-2020
Posts: 8,796

Nanshee the Screamin Banshee

https://youtu.be/UarDZ4nPXtI
HockeyDad Offline
#21 Posted:
Joined: 09-20-2000
Posts: 46,065
There should be no debt ceiling. Market forces and the US military should set the debt ceiling just like with the value of the US dollar.
DrafterX Offline
#22 Posted:
Joined: 10-18-2005
Posts: 98,508
Trump's credit card...... Is this the one Pelosi and crying Chuck made him run up when they refused to fund da gubment..?? Think
RayR Offline
#23 Posted:
Joined: 07-20-2020
Posts: 8,796
DrafterX wrote:
Trump's credit card...... Is this the one Pelosi and crying Chuck made him run up when they refused to fund da gubment..?? Think


That's the one! He shoulda defunded da gubment.Not talking
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